GCC Fruit Juice Market to Reach US$ 3,208 Million by 2024

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 fruit juice market size in GCC is projected to exceed US$ 3,208 Million by 2024, expanding at a CAGR of nearly 6% during 2019-2024.