Juices - Peru

The Juices market in Peru has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Juices market in Peru have shifted towards healthier options, with consumers increasingly seeking out natural and organic juices. This trend is in line with global market preferences, as consumers worldwide are becoming more health-conscious and focused on consuming products that are perceived as being better for their overall well-being. As a result, there has been a growing demand for juices that are free from artificial additives, preservatives, and sweeteners. In addition to the preference for healthier options, there has also been a rising interest in functional juices in Peru. Functional juices are those that offer additional health benefits beyond basic nutrition, such as juices fortified with vitamins, minerals, or antioxidants. This trend is driven by the increasing awareness of the potential health benefits of certain ingredients, such as superfruits or botanical extracts. Consumers are willing to pay a premium for juices that offer these added benefits, as they perceive them as a convenient way to improve their overall health and well-being. The Juices market in Peru is also influenced by local special circumstances. Peru is known for its rich biodiversity and abundance of fresh fruits, which provides a unique advantage for the local juice industry. The country is home to a wide variety of fruits that are used in juice production, including exotic fruits like lucuma, camu camu, and aguaymanto. This allows juice manufacturers in Peru to offer a diverse range of flavors and options to cater to different consumer preferences. Furthermore, Peru has a strong agricultural sector, which ensures a steady supply of fresh fruits for juice production. The country's favorable climate and fertile soil create ideal conditions for fruit cultivation, resulting in high-quality produce that is used to make juices. This local advantage contributes to the growth of the Juices market in Peru, as consumers can enjoy fresh and flavorful juices made from locally sourced fruits. Underlying macroeconomic factors also play a role in the development of the Juices market in Peru. The country's growing middle class and increasing disposable income levels have led to a rise in consumer spending on food and beverages. As a result, consumers are willing to spend more on premium juices that offer higher quality and health benefits. Additionally, urbanization and changing lifestyles have led to an increased demand for convenient and on-the-go products, which has further fueled the growth of the Juices market in Peru. In conclusion, the Juices market in Peru is experiencing growth due to changing customer preferences towards healthier options, the rise of functional juices, local special circumstances such as the abundance of fresh fruits and a strong agricultural sector, and underlying macroeconomic factors such as a growing middle class and urbanization. These factors have created a favorable environment for the development and expansion of the Juices market in Peru.

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.