Fortified juices Market by Major Players, Supply, Demand, Market Dynamic Forces & Forecast 2023
Fortified juices are rich in micronutrients such as essential trace elements and vitamins. Juices are fortified by adding micronutrients externally. These juices are available in the market under different labels and types. The most common Fortified juices available in the market are prepared from fruits, vegetables or a mixture of both. The key ingredients used for juice fortification are vitamins, minerals, probiotics, prebiotics, and other nutrients.
Market Scenario and Growth Factors:
Globally with a huge demand for healthy Fortified juices, this market will continue to grow, due to increasing health awareness in the recent years. Key players are investing in R&D for the innovating product line as Fortified juices market’s growth is directly proportional to the scope of innovation due to the highly competitive market. Moreover, key players are also investing in partnership with various food chains as the focus area is to grow the consumer base. Due to the increasing working-class population and disposable income, there is a rise in the demand for healthy and fortified juices.
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Increasing number of health-conscious consumers in developed economies is one of the driving forces for this market. Key players are also investing in R&D to focus on the development of the new product line with improved formulations. Fortified juices such as exotic fruits, aloe-vera, gooseberry, bitter gourd, bottle gourd, and others, are consumed by many consumers as they enhance metabolism, strengthen the immune system, and solve gastric issues which are faced by many consumers nowadays. Hence, the consumers are trying to find natural remedies for health problems.
Some of the key players profiled in the global Fortified juices market: PepsiCo Inc. (U.S.), Hain BluePrint, Inc. (U.S.), Evolution Fresh (U.S.), Sudzucker AG (Germany), SunOpta, Inc. (Canada), Diana Naturals (France), and Doehler Group (Germany)
Growing food & beverage industry is the reason for the growing demand for Fortified juices
The North American market has a massive opportunity for Fortified juices
Fortified juices manufacturers
Raw material suppliers
Retailers and wholesaler
Traders, importers, and exporters
The global glycinates market is segmented into source, nutrients, and distribution channel.
On the basis of source, it is segmented into vegetables, fruits, and mixed. Among all, the fruits segment is dominating the market followed by vegetables owing to its higher use in the beverages industry to prepare functional beverages.
On the basis of nutrient, it is segmented into vitamins, minerals, probiotics, prebiotics, and others. Among all, the probiotics segment holds a major market share due to its high demand in the beverage industry. Additionally, the increasing demand for gut health drinks is driving the growth of the prebiotics segment.
On the basis of distribution channel, it is segmented into store-based and non-store based. Among both, the store-based segment is dominating in the market, based on one-stop shopping experience.
The global Fortified juices market is segmented into Europe, Asia Pacific, North America, and the rest of the world (RoW). The North American region is dominating the Fortified juices market and is expected to retain its dominance over the review period as well. The European Fortified juices market is also experiencing a huge demand over the assessment period owing to the increasing awareness about the benefits of using Fortified juices. Additionally, the consumer trend towards consumption of healthy products is considered to be the key driving factor in this region.
Growing consumer awareness towards functional properties of Fortified juices is driving the growth of the Fortified juices market in the Asia Pacific region. Furthermore, the increasing demand for functional beverages in countries such as China and Japan are likely to boost the growth of the Fortified juices market during the assessment period.