Juices - Uruguay

The Juices market in Uruguay has been experiencing significant growth in recent years.

Customer preferences: Uruguayans have shown a growing interest in healthier lifestyles and are increasingly conscious of the importance of consuming natural and nutritious products. As a result, there has been a shift towards healthier beverage options, including juices. Consumers are seeking products that are made from real fruits, without added sugars or artificial ingredients. Additionally, there is a rising demand for organic and locally sourced juices, as consumers prioritize sustainability and supporting local producers.

Trends in the market: One of the key trends in the Uruguayan Juices market is the increasing popularity of functional juices. These are juices that are fortified with additional vitamins, minerals, or other beneficial ingredients such as antioxidants or probiotics. Functional juices offer added health benefits and cater to specific consumer needs, such as immune support or digestive health. This trend is driven by the growing interest in holistic wellness and the desire for products that go beyond basic nutrition. Another trend in the market is the rise of cold-pressed juices. Cold-pressed juices are made using a hydraulic press that extracts the juice from fruits and vegetables without applying heat. This method is believed to retain more nutrients and enzymes compared to traditional juicing methods. Cold-pressed juices are perceived as premium products and are often associated with higher quality and freshness. This trend aligns with the increasing demand for natural and minimally processed foods.

Local special circumstances: Uruguay has a favorable climate for fruit cultivation, with a variety of fruits grown locally, including oranges, lemons, apples, and berries. This abundance of fresh produce contributes to the availability and affordability of fruits for juice production. Additionally, the country has a strong agricultural sector and a tradition of fruit cultivation, which supports the local juice industry. These factors make it easier for juice manufacturers to source high-quality fruits locally, reducing dependency on imports and ensuring a steady supply of fresh ingredients.

Underlying macroeconomic factors: Uruguay has experienced steady economic growth in recent years, which has contributed to an increase in disposable income and consumer spending. As a result, consumers have more purchasing power and are willing to spend on premium and healthier products, such as juices. Additionally, the government has implemented policies to promote healthy eating and has raised awareness about the benefits of consuming fruits and vegetables. These initiatives have further fueled the demand for juices in the country. In conclusion, the Juices market in Uruguay is witnessing growth due to changing customer preferences towards healthier options, including functional and cold-pressed juices. The availability of locally sourced fruits and a favorable economic environment have also played a significant role in the market's development. As consumers continue to prioritize health and wellness, the demand for juices is expected to further increase in the coming years.

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.