COLD PRESSED JUICE MARKET ANALYSIS

Global Cold Pressed Juice Market was valued at US$ 737.3 Mn in 2022, and is expected to exhibit a CAGR of 8.4%, in terms of revenue, over the forecast period (2023-2030) to reach US$ 1,408.2 Mn by 2030. Concerns about a variety of illnesses and the advantages of drinking cold pressed juices have increased the demand for cold-pressed juices made from mixed fruits and vegetables. The pure juice from fruits and vegetables is extracted using a hydraulic press to create cold-pressed juices. Nutrients aren't lost during the process because no additional heat or oxygen is used. Contrary to conventional juices, cold-pressed juices do not lose nutrients, amino acids, phytonutrients, minerals, trace minerals, or enzymes during the extraction process. These factors increase the potential for growth of the mixed fruit and vegetable segment in the global cold-pressed juice market.

Global Cold Pressed Juice Market - Impact of Coronavirus (COVID-19) Pandemic

Prior to the pandemic COVID-19 outbreak, consumers were gradually shifting toward healthier food alternatives by reducing their consumption of sugary products such as soda, cold drinks, and other similar beverages. The outbreak of the COVID-19 pandemic encouraged consumers to include healthy food products, such as fruit juices, in their diet. As a result, sales of cold-pressed fruit juices increased significantly during the pandemic. Several fruit juice companies took advantage of the situation and created new products to meet the growing demand for healthy fruit juices.

Global Cold Pressed Juice Market: Growth Drivers

Increased demand for vitamin and mineral-rich cold pressed juice products

These juice products are obtained through the application of high-pressure processing technology on fruits and vegetables, as opposed to juices prepared in a centrifugal juicer. This technique ensures that the products contain 100% real juice and that the vitamins and minerals are not destroyed during the manufacturing process. As a result of the high-pressure process technology, the product is highly nutritious, making it ideal for people who prefer to drink nutritious fruit juices and blends. Consumption of 100% fruit juice also aids in the prevention of chronic diseases such as diabetes and promotes a healthy lifestyle. This is a major factor driving the growth of the global cold pressed juice market.

Furthermore, numerous studies have shown that drinking sugary drinks like cola and soda is harmful to one's health. Sugary drinks are also linked to obesity, kidney disease, and cardiovascular disease. As a result, fruit juices are a suitable substitute for sugary drinks due to their high nutritional profile, resulting in market growth. For instance, in December 2021, The ParmCrisps and Thinsters snack brands were purchased by The Hain Celestial Group Inc. ParmCrisps is a manufacturer of snack products. Their products include tubs, pouches, cream and onion pouches, cheese, cheddar pouches, muiltipacks, and more. The company claims that the purpose of this acquisition is to provide customers with fruit and vegetable juice with every purchase. As a result, the business is working to establish its brand and maintain its position of leadership.

Figure 1. Global Cold Pressed Juice Market, By Distribution Channel, 2022

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Increased Demand for Ready-To-Drink Juice Products

Consumers can enjoy a healthy lifestyle with the convenience of packaged drink products without having to spend extra time preparing them. Consumers in developing nations like China and India are constantly looking for wholesome and delicious juice products due to the increase in employment and rapid urbanization in these countries. Since these juices are packaged in PET (Polyethylene Terephthalate) bottles and glass bottles, which makes them easy for consumers to transport, their demand among the younger generation is rapidly rising. For instance, in June 2022, Michigan-based The company expanded its selection with the launch of Blake's Cold-Pressed juices, a line of fruit juices produced at the farm of Blake Farms in Armada, Michigan.

Global Cold Pressed Juice Market: Market Restraints

High Cold Pressed Juice Prices Due to High Production Costs Limit

The cost of producing the juice is higher than that of traditional juice. The hydraulic press, which is expensive machinery, is to blame for the high cost. As a result, producing these juices is an expensive option for price-conscious consumers. Furthermore, because such products have a limited shelf life, storing them is difficult. The majority of these products must be refrigerated to maintain product quality. As a result of the product's short shelf life, consumers are less likely to use these juice products.

Furthermore, a large amount of waste in pulp is produced during the manufacturing process. Such by-products generated during production can be extremely difficult to process. This raises the processing costs of the manufacturers involved in the production of these juice products.

Global Cold Pressed Juice Market: Market Segmentation

On the basis of distribution channel, hypermarkets & supermarkets dominated the global cold pressed juice market in 2022 with around 39% of the market share in terms of revenue, followed by retail/grocery stores, convenience stores, and online, respectively. The majority of shoppers prefer to shop at supermarkets and hypermarkets because of the wide variety of goods available in stores. Because of how attractively the goods are displayed in the stores, more people are drawn to buy them. Additionally, to encourage customers to eat healthily, supermarkets designate particular spaces for these juice products.

Online stores are slowly becoming more and more popular because customers can buy goods from the convenience of their homes. The availability of greater discounts compared to offline channels also encourages consumers to use online channels for product purchases. Additionally, it saves a lot of time for consumers living busier lives because they can order goods anytime, anywhere, and have them delivered right to their doorstep. Consequently, it is anticipated that more people will use these online marketplaces in the coming years to buy products.

Figure 2. Global Cold Pressed Juice Market, By Region, 2022

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Global Cold Pressed Juice Market: Regional Analysis

The global cold pressed juice market is dominated by North America, which is anticipated to expand by around 35% over the forecast period. North America has the largest global share of this market. In comparison to other traditional juices, the product is gaining popularity among consumers because it contains 100% fresh juice. Dieticians also recommend including pure juice in the diet due to its high nutritional content. As a result, juice manufacturers are involved in the production of a wide variety of juice products for the market. In contrast to pasteurized juice that has been heated to kill the bacteria in the juice, this juice has not been heated. As a result, there is still a possibility of Clostridium botulinum spores contaminating the juice. According to FDA (Food and Drug Administration) recommendations, unpasteurized juice should carry warning labels to inform consumers about the risks of consuming such food products. As a result, manufacturers could use specific manufacturing techniques to ensure that spores are eliminated from the juice.

Europe is the second-largest consumer of cold pressed juice products, with Germany having the region's largest market share. Other countries, such as the U.K., Spain, and France, offer significant growth opportunities for manufacturers looking to expand their presence in these markets. The growing consumer preference for healthy beverages and the replacement of carbonated soft drinks in their diet is driving the regional market growth. The adoption of new dietary styles, such as veganism, also contributes to the expansion of this market in the region.

One of the cold-pressed juice markets with the fastest growth is in the Asia Pacific region. Consumers are now able to spend more on high-end and nutritious food items thanks to the rise in disposable income brought on by China's and India's economic development. The growing popularity of such products is also attributed to the increasing adoption of western eating habits. Industries are also benefiting from rising consumer awareness about health and hygin. Strong communication strategies are being used by them to highlight the products' immunity-boosting and health benefits and raise consumer adoption of them.

Brazil is one of the South America region's fastest-growing markets. The country is also one of the world's largest orange producers. South markets are still in their infancy, and manufacturers are relishing the opportunity to innovate and expand their market presence in the region.

Global Cold Pressed Juice Market: Recent Developments

• In February 2022, Puregreen, based in the U.S., announced plans to launch new cold-pressed juice products across the country. The Foodgod Tonic and Pink Grape Cold Pressed Juice, for example, support gut health and improve health immunity.
• In June 2021, Doi Kham, a Vietnamese company, introduced two new varieties of cold-pressed juice: cold-pressed sugarcane juice and cold-brewed coffee with sugarcane. The prices for the goods are USD $71 and USD $3.87, respectively.
• In March 2022, the 100% organic cold-pressed juice brand "Wonder Lemon" was introduced by Kayco The company sells juices with a fresh, delicious citrus flavor that are also good for your health.
• In February 2022, the new smoothie from Naked Juice Company features orange and lime flavors. The company claims that the most recent launch will draw customers to the brand and enable the company to grow as a result of its ability to adapt to changing consumer preferences.
• In April 2021, The Irish company Just Juice introduced its line of cold-pressed juice shots, wheatgrass juice, and two specialty shots for health and wellness: a broccoli shot made from sprouted broccoli juice that is four days old and a beetroot shot that also contains broccoli.

Global Cold Pressed Juice Market: Key Companies

Key players active in the Global Cold Pressed Juice market are PepsiCo Inc., Suja Life, LLC, RAW Pressery, Juice Press, Preshafood, Evolution Fresh, Inc., Juice Generation, Liquiteria, Hain Celestial, and Juice Warrior.

*Definition: Cold-pressed juice is a juice that is prepared by using a hydraulic press from fruits and veggies. Cold-pressed juice process does not involve spinning and blades but is produced by using high-pressure processing that extends the shelf life of juice and lasts for more than regular juice. Cold-pressed juice can also be refrigerated for up to five days. These juice are expensive since they are produced from 100% fruit and vegetable without any chemicals. Cold-pressed juice preserves and protects the nutrients of the vegetables and fruits such as vitamins, enzymes, minerals, and other nutrients present in the juice.