Juices - Eastern Asia

The Juices market in Eastern Asia is experiencing significant growth and development.

Customer preferences: Consumers in Eastern Asia have shown a strong preference for healthy and natural beverages, which has contributed to the growth of the Juices market in the region. With increasing awareness about the importance of a balanced diet and the health benefits of consuming fruits and vegetables, many consumers are opting for juices as a convenient and nutritious option. Additionally, the rising popularity of wellness and fitness trends has further fueled the demand for juices, as they are seen as a refreshing and hydrating drink choice.

Trends in the market: One of the prominent trends in the Juices market in Eastern Asia is the increasing demand for functional juices. Consumers are seeking juices that offer specific health benefits, such as immune-boosting, detoxifying, or antioxidant properties. This trend is driven by the growing focus on preventive healthcare and the desire to lead a healthier lifestyle. As a result, juice manufacturers are introducing a wide range of functional juices that cater to these specific consumer needs. Another trend in the market is the rising popularity of premium and exotic juices. Consumers in Eastern Asia are becoming more adventurous in their taste preferences and are willing to try new and unique flavors. This has led to an increased demand for juices made from exotic fruits and ingredients, such as acai berries, dragon fruit, and goji berries. The premiumization of the Juices market is also driven by the perception that higher-priced juices are of better quality and offer superior health benefits.

Local special circumstances: Eastern Asia is home to a diverse range of fruits and vegetables, which provides a unique advantage for the Juices market in the region. Local fruits, such as oranges, apples, and grapes, are widely available and are used as key ingredients in many juice products. This allows manufacturers to offer a variety of flavors that cater to the local taste preferences. Additionally, Eastern Asia has a rich tradition of herbal remedies and traditional medicine, which has influenced the development of herbal and medicinal juices in the market.

Underlying macroeconomic factors: The growing middle class in Eastern Asia has contributed to the expansion of the Juices market. As disposable incomes rise, consumers have more purchasing power and are willing to spend on premium and healthier beverage options. Additionally, urbanization and changing lifestyles have led to an increase in on-the-go consumption, driving the demand for convenient and portable juice products. The rapid growth of e-commerce and online retail platforms has also made it easier for consumers to access a wide range of juice products, further fueling the market growth.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.