Future Vision of Resurgence in Nectar Consumption in Asia-Ken Research
Posted on 18 August 2016 by KenResearch Food and Beverage,
Ken Research announced its latest publication on, “Nectars Consumption Volume and Growth Forecast to 2021” which provides an in-depth analysis of Nectars consumption in Asian market. This report provides an insight about the buying behavior pattern of Asian people which is inclined towards value for money products. It also provides information regarding the leading players, the consumer level trends, reviews and recommendations on how the economy will shape up from 2015-2021.
Nectars are not always sweet but honeybees continue to feed it because they have microbial effect. There has been a new trend emerging among consumers to intake low-sugar drinks and consume drinks which have more of natural ingredients rather than added preservatives. Packaging also affects the demand of a product due to which there is more prevalent use of environmental friendly packaging. The fruit juice industry has forecasted to expand at an annualized rate of 3% from 2016-2021, reaching $317.1 billion. While China produces about one-third of the world’s fruit (by tonnage) but majority of output is crude. Chinese fruit and vegetable processing are expected to expand due to enlarged demand for industry products. Indonesia ranking is 12th in worldwide sugar production which is used as primary component. Indonesia is expected to forecast a volume growth of 17% for 2015-2019.
During 2016-2021, Industry Value Added (IVA) which is a measure of an industry's contribution to the overall global economy is expected to grow at an annualized rate of 2.7% whereas global GDP is expected to expand at an annualized rate of 2.7%. Key drivers affecting the performance of global nectar market are Asia’s consumer spending, damage caused by natural disasters, Asia’s per capita income, Asia’s population and Asia’s price of sugar. Demand for industry products of nectar is increasing from underdeveloped markets due to rising health consciousness and inexpensive products with lower fruit and vegetable content and consumers who desire nutritious products but require lower prices. Due to expansion in middle class, demand has emerged for larger quantities of higher quality and more-diverse juice. There has been improvement in logistics and production processes which has led to increase in production and efficient distribution of products. Trade in processed fruit and vegetable products are expected to grow at an annualized rate of 3.3% from 2016-2021 to $70.1 billion. The significant effect on food consumption patterns is due to strong industrial growth in China and South East Asia.
Key Topics Covered in the Report:
- Detailed profile of Nectar Market.
- Consumer demographics, trends and behaviors.
- Category wise Value and volume analysis for Asia’s Nectar market.
- Historic and forecast value analysis by category.
- Retail Landscape and Key Distribution Channels.
- Market share of leading brands (in value terms) by category.
- Packaging landscape of the Asia’s Nectar Market
To know more on the coverage, click on the link below: