Juice Poised to Take Lead in the Eastern European Beverages Market by 2021: Ken Research
Posted on 27 July 2016 by KenResearch Food and Beverage,
- The market for Juice consumption is going strong both in terms of value and volume with an increasing shift towards innovation in terms of both variants and packaging technology.
- The industry is forecast to grow faster over the coming years as there is a huge demand for healthy, natural and fresh beverages over traditional soda drinks.
- Eastern European countries such as Poland, Hungary, Czech Republic and Slovakia have very high per day consumption of fresh fruits and vegetable juices.
Ken Research announced its latest publication on, “Juice Consumption Volume And Growth Forecast To 2021-East Europe”, which included a country-wise coverage of the various products being sold within the Eastern European Juice market. The publication offers insights into the shape the market is projected to take over the next five years. In addition, the report also includes trends within the distribution and packaging divisions of the Juice market.
With respect to the scope of this report, Juice is a 100% pure fruits or vegetables extract with no added ingredients. However, packaged juice contains permitted minerals and vitamins for the purpose of fortification and permitted additives which are products from concentrate. The juices are available in various forms such as concentrated, chilled and frozen concentrated. This report includes top level Juice consumption actual data for 2010-2014, provisional data for 2015; while forecasts are provided for 2016-2021 across 18 individual countries. The countries covered in the report are Belarus, Bosnia, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Poland, Romania, Russia, Serbia, Slovak Republic, Slovenia, Turkey, and Ukraine.
Overview of Eastern Europe’s Juice Industry
In the aftermath of the financial crisis, most parts of Eastern Europe witnessed economic stability in the past five years. A strong manufacturing/service sector has led to opening of more job opportunities and better living conditions for the people. This has directly resulted in an increased desire of the people to live a better quality of life and trends of self-indulgence have emerged. In this regard, Juice is one of the most upcoming categories. For instance, Birch Juice has become extremely popular in whole of Eastern Europe. Birch Juice is a thin, watery sap harvested from the mature, wild birch tree trunks. This juice can only be tapped during the early spring thaw after the winter freeze. The juice gained raging popularity because of high content of antioxidants, electrolytes and vitamins and attained the reputation of being an herbal remedy. This report provide valuable insights into which growth categories to target, trends in the usage of packaging materials, types and closures by each category and the brand market shares.
Future Prospects of Juice Market in Eastern Europe
With the increasing number of consumers preferring products that can counter the side-effects of leading a professional life, the Juice market is expected to register high growth in the upcoming years. However, both consumers and manufacturers need to keep a check on the fluctuating macroeconomic environment. Recently, the Eastern European countries had to import a large amount of fresh fruits and vegetables because of inhospitable environmental conditions and the Juice manufacturers were forced raise their prices. As a result, overall sales of Juice market had a setback.
The market is forecast to have a stable growth because of factors such as increasing inclination of people towards healthy drinks, value-for-money products being launched leading players and high innovation in terms of flavors and packaging. Tremendous opportunities lie for manufacturers to bring out more regional flavors. In addition, deeper penetration into the region can also benefit the sales as a large section of customer segments are still untapped. However, all is not smooth for the Juice manufacturers as the market also faces some weaknesses and threats. Growth might be slow due to uncertain economic conditions in Europe. Additionally, possible threats loom from weak euro condition in 2015 along with high costs of raw materials for the production of natural fruit juices.
Key Trends Governing Iced/RTD Tea Drinks in Eastern Europe
- Increasing awareness about health benefits of traditional aerated/carbonated drinks.
- Consumers shift towards fresh or cold-pressed fruit or vegetable juices.
- A large number of multi-national and smaller players have entered into the industry.
- Competition has led to availability of large number of variants at economic prices.
- The demand is shifting towards premium varieties which promise organic or herbal content.
Key Topics Covered in the Report:
- Detailed profile of Eastern European Juice market
- Consumer demographics, trends and behaviors
- Top 4 consumer trends which will influence Juice consumption
- Value and volume analysis for the Eastern European Juice market
- Historic and forecast consumption in the Eastern European Juice market
- Retail landscape of the Eastern European Juice market
- Packaging landscape of the Eastern European Juice market
To know more on coverage, click on the link below:
Ankur Gupta, Head Marketing & Communications