ASEAN Fruit & Vegetable Juices Market to Surpass USD 3593.34 Million by 2025

Rising awareness towards healthy drinking habits, increasing disposable income, changing lifestyle is some key factors driving the growth of ASEAN Fruit & Vegetable Juices market.

According to TechSci Research report, “ASEAN Fruit & Vegetable Juices Market, By Product Type (Fruit Juice, Mixed Juice, Vegetable Juice), By Nature (Conventional Vs Organic), By Distribution Channel (Departmental Store, Hypermarket/Supermarket, Online and Others (Convenience Store, Wholesale for Beverages etc.), By Country, Forecast & Opportunities, 2025”, ASEAN fruit & vegetable juices market was valued USD 2402.74 Million in 2019 and is expected to grow at CAGR of 7.22% during the forecast period. Anticipated growth in the market can be attributed to rising awareness among consumers towards benefits of fruit & vegetable juices, increasing trust on packaged juices, easy storage of packed juices which is not always possible with fresh fruit juices and high convenience with packed juices (as making juice from fresh fruit is a hefty process which requires time and machinery).

Additionally, the rapid growth of the e-commerce market is augmenting the growth of fruit & vegetable juices market in ASEAN countries. Manufacturers are also coming up with new products with higher nutritional value and health benefits which is helping them to cater to wider consumer base in ASEAN fruit & vegetable juice market. However, ASEAN fruit & vegetable juices market is also facing competition from fresh fruit juices, as sometimes consumers are concerned about the content in packed juices such as preservatives and high sugar content which can hamper the growth of the market.

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ASEAN Fruit & Vegetable Juices market is segmented based on product type, nature, distribution channel and country. Based on the product type, the market is categorized into fruit juice, mixed juice, and vegetable juice. Among them, fruit juice accounted for the largest market share in 2019 and the segment is expected to maintain significant market share in the forecast period as well. Significant share of fruit juices can be attributed to presence of numerous fruit flavors and consumer’s perception of getting more nutrient from fruits and common belied due to which fruits are considered good for health. In addition, increasing trend of social media usage and blogging, people are now following a strict diet which includes various fruit and vegetable juices. This trend is further expected to drive the fruit & vegetable juices market in ASEAN countries.

Based on the distribution channel, ASEAN Fruit & Vegetable Juices market is segmented into (Departmental Store, Hypermarket/Supermarket, Online and Others (Convenience Store, Wholesale for Beverages etc.). Departmental Store segment dominated the ASEAN Fruit & Vegetable Juices market in 2019 and is expected to maintain dominance during the forecast period owing to the easy convenience of buying.

Based on the countries the market is segmented into Indonesia, Thailand, Singapore, Malaysia, Vietnam, Myanmar, Cambodia, Rest ASEAN (Philippines, Brunei, and Laos). Among them, Indonesia accounted for the largest market share in 2019 and is further expected to continue dominance during the forecast period due to increasing availability of international brands, surging population, higher GDP per capita and increased expenditure on food & drinks.

Major players operating in the ASEAN Fruit & Vegetable Juices market are The Coco-Cola Company, Tipco Foods Public Company Limited, Vietnam Dairy Products JSC Company, Malee Group Public Company Limited, Barkath CO-RO Manufacturing Sdn. Bhd., Malaysia Dairy Industries Pte Ltd, Uni-President (Thailand) Co Ltd., Del Monte Pacific Limited, Unilever Indonesia, Pepsico Asia Pacific and including other regional companies.

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“Consumers across ASEAN countries are increasingly opting for purchasing fruit & vegetable juices through online sales channels due to availability of exclusive offers, different pack sizes and heavy discounts on e-commerce platforms. Online retailers are also developing a highly reliable supply chain such that products can be delivered to consumers on the same day. In addition, due to the outbreak of COVID-19, people staying at home are increasingly opting for online platforms for their daily needs including purchasing juices. This online buying trend would gain more strength during the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based ASEAN management consulting firm.

“ASEAN Fruit & Vegetable Juices Market, By Product Type (Fruit Juice, Mixed Juice, Vegetable Juice), By Nature (Conventional Vs Organic), By Distribution Channel (Departmental Store, Hypermarket/Supermarket, Online and Others (Convenience Store, Wholesale for Beverages etc.), By Country, Forecast & Opportunities, 2025” has evaluated the future growth potential of fruit & vegetable juices market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in ASEAN fruit & vegetable juices market.

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