According to Technavio Research Report “Juice Market by end-user (residential and commercial), by product (centrifugal juicer, masticating juicer, and triturating juicer) and geographical regions (Europe, APAC, North America, MEA and South America) is witnessed to grow by USD 607.67 million, at a CAGR of 8% from 2019 to 2023”.
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Technavio has published a new market research report on the global juicer market from 2019-2023. (Graphic: Business Wire)
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Global Juicer Market: Growing adoption of smart juicers
The growing demand for advanced features and innovative juicer products has provided opportunities for vendors to introduce smart juicers. The smart juicers offered in the market are user-friendly, aesthetically appealing, and are available with various other features. Also, smart juicers are equipped with smart features, such as mobile app control, food and drink recipes, and the ability to extract the juice directly into a variety of glass and container sizes. These juicers also offer an adjustable mode according to the type of fruit or vegetable being juiced. Therefore, the better functionalities of smart juicers over conventional appliances will fuel the growth of the global juicer market in the coming years.
“Increased adoption of multi-functional products is one other factor that is contributing to the growth of the market. Multi-functional juicers available in the market have several applications, and hence they offer good value for money. Moreover, to address the growing demand for multi-functional juicers, vendors are innovating to develop different products. Thus, the increase in such multi-functional offerings in the global juicer market will drive the growth of the market,” says a senior analyst at Technavio.
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Global Juicer Market : Rise in the number of juice bars
A key factor driving the growth of the market is the rise in the number of juice bars. The increase in health consciousness worldwide is encouraging consumers to opt for healthy food items like fresh fruit and vegetable juices. Capitalizing on these opportunities, various foodservice establishments have started to tap the increased demand for fresh juices by expanding their stores. Also, consumers prefer food that is rich in antioxidants, strengthens the immune system, and provides not only physical but also spiritual and mental benefits. Hence, the increasing number of juice bars will directly trigger the sales of new units of juicers.
Global Juicer Market: Segmentation analysis
This market research report segments the global juicer market by end-user (residential and commercial), by product (centrifugal juicer, masticating juicer, and triturating juicer) and geographical regions (Europe, APAC, North America, MEA and South America).
The European region led the market in 2018, followed by APAC, North America, MEA, and South America respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the increasing health consciousness and the trend for fitness in the region.
Few Major Players for the Juicer Market are:
- Breville Group Ltd.
- Cuisinart Inc.
- Hamilton Beach Brands Holding Co.
- Koninklijke Philips NV
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