Juices - Southern Asia

The Juices market in Southern Asia is experiencing significant growth and development.

Customer preferences: Customers in Southern Asia are increasingly seeking healthier beverage options, which has led to a growing demand for juices. Juices are perceived as a natural and nutritious choice, offering a variety of vitamins and minerals. In addition, the convenience of packaged juices has made them a popular choice among busy consumers who are looking for quick and easy ways to incorporate fruits and vegetables into their diet.

Trends in the market: One of the key trends in the Juices market in Southern Asia is the rising popularity of functional juices. Functional juices are enriched with additional nutrients or ingredients that offer specific health benefits. For example, juices fortified with vitamins or antioxidants are in high demand as consumers become more health-conscious. Additionally, there is a growing trend towards organic and natural juices, as consumers are becoming more aware of the potential health risks associated with pesticides and chemicals in conventional juices. Another trend in the market is the increasing availability of exotic and tropical fruit juices. Southern Asia is known for its diverse range of fruits, and consumers are now able to enjoy juices made from fruits such as mango, guava, and pineapple. These exotic fruit juices offer unique flavors and are often associated with a premium and indulgent experience.

Local special circumstances: One of the unique aspects of the Juices market in Southern Asia is the strong cultural preference for fresh and homemade juices. Many households in the region have a tradition of making juices from scratch using locally grown fruits. This cultural preference for freshness and authenticity has influenced the market, with many consumers seeking out freshly squeezed juices or juices made from whole fruits. As a result, there is a growing market for juice bars and cafes that offer made-to-order juices.

Underlying macroeconomic factors: The growing middle class and rising disposable incomes in Southern Asia have played a significant role in the development of the Juices market. As consumers have more purchasing power, they are able to afford premium and healthier beverage options such as juices. Additionally, urbanization and changing lifestyles have also contributed to the growth of the market. With more people living in cities and leading busy lives, there is a greater demand for convenient and on-the-go beverage options like packaged juices. Overall, the Juices market in Southern Asia is experiencing strong growth due to changing customer preferences, the emergence of new trends, local cultural preferences, and underlying macroeconomic factors. As consumers continue to prioritize health and convenience, the market is expected to expand further in the coming years.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.