GCC Fruit Juice Market Share, Demand, Growth, Industry Trends & Forecast by 2023
by Rahul Rastogi Market Research AnalystIn the coming years, the GCC fruit juice market is
anticipated to witness a healthy growth on account of favorable factors such as
increasing lifestyle diseases in the region, rising health-consciousness
amongst consumers and constant support from the governments for incorporating
healthier beverages in the daily diet.
According to the latest report by IMARC Group, titled “GCC Fruit Juice Market: Industry Trends,
Share, Size, Growth, Opportunity and Forecast 2018-2023”, the GCC fruit juice market
reached a value of US$ 2,150 Million in 2017. As the GCC region has witnessed
strong economic growth in the past few decades, the per capita spending on food
and beverages has also increased at a faster pace. Moreover, on account of
increasing health awareness, the consumers are now shifting from carbonated
drinks towards healthier alternatives, such as non-carbonated and natural fruit
beverages. Additionally, the introduction of value-added products is gradually
increasing the demand for fruit juice in the region.
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Market Trends:
A rise in the prevalence of lifestyle ailments such as
obesity, diabetes and heart diseases in the region has proliferated the demand
for natural and healthier beverages, such as 100% fruit juices. Moreover, the
governments of several countries in the GCC region are undertaking initiatives
and altering existing policies to promote the consumption of healthier food
products. For instance, the Government of Saudi Arabia has levied a 50% tax on
carbonated soft drinks and 100% tax on energy drinks. This is expected to
attract a larger consumer-base and create a positive outlook for the fruit
juice market in the GCC region. Some of the other factors which are catalyzing
the market growth include elevating income levels, rapidly growing population,
changing lifestyles and increasing working population. Looking forward, the
market value is projected to exceed US$ 3,030 Million by 2023, expanding at a
CAGR of nearly 6% during 2018-2023.
Market Summary:
·
Based on product type, the market has been
segregated into juice drinks, 100% fruit juices, concentrates, nectars,
powdered juices and others. At present, juice drinks dominate the market,
holding the largest share.
·
On the basis of flavors, the market has been
classified as orange, mango, mix fruit, apple and others. Currently, orange
represents the most popular fruit juice flavor in the GCC region. Orange juice
increases immunity, detoxifies the body, lowers cholesterol levels, and reduces
inflammation and signs of aging.
·
Based on packaging types, tetra pack accounts
for the majority of the market share. This can be accredited to the
lightweight, convenient and environment-friendly nature of tetra pack
packaging. Other packaging types include bottles and cans.
·
The market has also been divided on the basis of
distribution channels which include supermarkets and hypermarkets, convenience
stores, specialty food stores, online and others. Amongst these, supermarkets
and hypermarkets are the leading distribution channels as they run regular
promotional campaigns and offer huge discounts to the customers.
·
Country-wise, the market has been segmented into
Saudi Arabia, UAE, Kuwait, Oman, Qatar and Bahrain. Amongst these, Saudi Arabia
is the biggest market, holding the dominant market share.
·
The competitive landscape of the market has also
been examined with some of the key players being Almarai, Al Rabie, Jumbo,
Caser, Arrow Juice, Union Beverages Factory, Barakat Quality Plus and Del Monte
Quality.
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Created on Jan 29th 2019 02:36. Viewed 537 times.