North America Cold Pressed Juices Market Size, Share, Demand, Quality Analysis and Sustainable Growth Strategy Over 2023
North America Cold Pressed Juices Market Research Report by Type (Fruits, Vegetables, and Blends), Category (Conventional and Organic), Distribution Channel and Region – Forecast till 2023
pune, India – April 18, 2019 /MarketersMedia/ —
North America Cold Pressed Juices Market Research Report includes various topics like total Market Size, Key Market Drivers, Growth Opportunities, Challenges, Industry Share, Growth, Demand, Outlook etc. Furthermore, it covers key market updates, the impact of regulations and technological updates in. The report addresses the need to stay updated in this competitive market conditions and this provides and comprehensive data for making strategies and decision to stimulate the market growth and profitability.
Market Research Future (MRFR) reveals in its new study that the North America market for cold-pressed juices is set to surpass a valuation of USD 2,299.7 Mn by 2023. The growth of the cold-pressed juices market in North America is envisaged to be backed by several factors. With increasing trend of adoption of a healthy lifestyle among consumers, the market is set to portray a positive outlook in the region in the coming years.
Mass consumers’ population across North America is becoming highly aware of the foods and beverages they consume and compare the products to choose which is better. The flourishing health and nutrition sector are compelling manufacturers to enhance the production of cold-pressed juices. For instance, in August 2018, OH! Juice based in North County, expanded its flavor combos, which boast of being organic, locally sourced, and possessing a long shelf-life. In general, cold-pressed juices contain high amounts of minerals, vitamins, fiber and antioxidants as compared to other forms of juices, which positively impact the sale fueling the global market. Moreover, the massive demand for leafy vegetable juice such as kale juice, spinach juice for detoxifying the body purpose. There are also emerging trends in the market associated with weight loss, detoxification, body energizing, all of which have added up to the demand for cold pressed juice. Consumers can customize the combination of these juices according to their need and subscribe for monthly or annual planned juice according to their functional application. The combination of all these factors has worked wonders for the market development in recent years.
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However, because of cold-pressed juices’ being all natural without any added ingredients, they are comparatively more expensive than their counterparts. This can be detrimental to the market growth as a large percentage of population prefer juices that are cheaper. On the other hand, because of their health benefits and demand from health-conscious population, the North America cold pressed juices market is bound to reach higher dimensions with a phenomenal growth rate.
Major Key Players Strategy:
Some of the key players profiled in the report include Pressed Juicery, Inc. (U.S.), Hain Celestial Group, Inc. (U.S.), Suja Life, LLC (U.S.), PepsiCo Inc. (U.S.), Evolution Fresh (U.S.), Juice Generation Inc. (U.S.), Liquiteria Inc. (U.S.), Florida bottling Trading (U.S.), Bolthouse Farms Canada Inc (Canada), and The Odwalla, Inc. (U.S.).
The report states that the North America cold pressed juices market is segmented based on type, category, distribution channel, and country.
Based on type, the market has been segmented into fruits, vegetables, and blends. Among these, the blends segment is expected to account for the major market share in the North America cold pressed juices market, reaching the value of USD 971.8 million by the end of 2023. The segment will register a CAGR of 10.19%. Blended cold-pressed juices are Blends of Fruits & Vegetables, Vegetable & Herbs, Fruits & Nuts, Fruits & Herbs, and many others. Blended juices are gaining favorable reviews from a large part of the population owing to its nutritional profile and its quality. They also come in different flavors which are considered safe for consumption.
Based on category, the market has been segmented on the basis of conventional and organic. Among these, the organic segment is predicted to dominate the market throughout the review period, expanding at a growth rate of 10.23%. On the other hand, the conventional segment is expected to witness a moderate growth rate of 9.12% during the review period.
By distribution channel, the market is segmented into store-based and non-store based. Among these, the store-based distribution channel is anticipated to reach the value of USD 1.96 billion by the end of 2023. Store-based distribution channel comprises of supermarket/hypermarket, convenience stores, specialty stores, and others. among these, supermarkets/hypermarkets mainly contribute to the sales of cold-pressed juices. The surge in the segment growth can be attributed to the one-stop shopping experience store-based channel provides to the consumers. On the other hand, the non-store-based segment is projected to witness a massive growth rate of 11.01% during the forecast period, with online deliveries gaining momentum due to the convenience they provide to the consumers.
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Based on country, the North America market is segmented into the United States (U.S), Canada, and Mexico.
Canada market for cold-pressed juices is poised for a tremendous growth trajectory as market players in the region are constantly trying to gain competitive edge over other competitors. The market for cold-pressed juices in Mexico is set to grow at a tremendous rate on account of growing consumer base spending on lifestyle products, growing health awareness, increasing disposable income of the growing population.
Among these countries, U.S. currently holds the largest market share and will continue to maintain its dominance in the foreseeable future. This is due to increasing consumer’s hectic lifestyles which have led to the surging demand for convenience food & beverages. The popularity of organic juice in the U.S. market has significantly buoyed the market growth over the last few years.
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