The juices were present in the market for a long time but since past few years they are prominently grabbing attention and space in the beverage category. The credit for this sudden popularity goes to the introduction of healthy fruit juice in the market. Healthy living is a very common thing right now, and everyone from the food industry to beverage industry are banking on it to get more profits.
There is a sea change in the mindset of people about fruit juices. Earlier it was considered that it was meant for kids alone but after introducing sugar free and calorie less versions it has gained a huge footfall. With fruits marching ahead how can vegetables be left behind? What was considered sour, tasteless and bitter vegetable juices are now in huge demand. The growing market has given new endeavors like Juice bars and centers.
A market research analysis states that, Indian Juice Industry is growing at a compound annual growth rate (CAGR) of about 35% annually, and will reach Rs. 54,000 crore by 2015. The branded fruit juice market is estimated to be about 10 billion rupees.
The transition in the Juice market took place because of health consciousness of people. There are several factors that accelerate the demand for the products.
• Most of the urban dwellers have higher disposable income that is spent on beverages.
• Aggressive advertisement done by the makers and branding make it more visible.
• Launching of healthy products like sugar free and less calories are attracting health conscious people
• More and more Juice bars and juice centers are launching.
• New variants like smoothies, non alcoholic drinks are introduced which has gained a lot of attention and followings.
• Fruit juices are slowly trading places with meals.
More and more people are switching to juices due to dietary reasons. The fruit juice industry is becoming more and more demanding in the days to come.