Cold pressed juices have become highly popular over the years due to the many health benefits associated with their consumption. Cold pressed juices retain their nutritional value as they are processed at low temperatures without any heat, chemicals or additives. They are a healthy source of vitamins, minerals, antioxidants and enzymes. The growing health consciousness among consumers and preference for organic and chemical-free products has propelled the demand for cold pressed juices. The global Cold Pressed Juice Market is estimated to be valued at US$ 12.2 billion in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2023.
Market Opportunity:
The growing demand for organic cold pressed juices presents a lucrative opportunity for manufacturers in the market. Consumers are increasingly looking for juices made from organic fruits and vegetables without any additives or preservatives. Moreover, clean label and non-GMO products are gaining widespread popularity. The organic juices are perceived to be healthier than conventional juices. Leading cold pressed juice brands are introducing innovative organic varieties to cater to changing consumer preferences. For example, (not providing any brand name as per instruction) launched its new line of organic cold pressed juices made from various organic fruits. The rising health-conscious consumer base represents a massive opportunity for cold pressed juice producers to expand their organic product offerings and strengthen market position.
Porter's Analysis
Threat of new entrants: Low barriers to entry as cold-pressed juice manufacturing does not require large capital investments. However, established brands have stronger distribution networks and customer loyalty.
Bargaining power of buyers: Moderate bargaining power as buyers have multiple options available from different brands. Buyer loyalty depends on quality, value, and branding.
Bargaining power of suppliers: High bargaining power as raw materials like fruits require specialized sourcing and supply chains. Suppliers can influence prices.
Threat of substitutes: High threat from other beverages like freshly squeezed juices, coconut water, and soda. Customers may switch based on price, availability, and perceived health benefits.
Competitive rivalry: Intense competition among existing players. Companies compete based on quality, flavors, packaging, and innovative product launches.
SWOT Analysis
Strengths: High nutrition value, natural ingredients without additives or preservatives. Emerging as a healthy lifestyle choice.
Weaknesses: Short shelf life requires an efficient cold chain. Higher prices compared to other beverages limit mass appeal.
Opportunities: Growing health awareness and demand for functional beverages. Expanding into new geographies, flavors, and convenient packaging formats.
Threats: Susceptible to price wars and private label brands. Strict quality and safety regulations across regions.
Key Takeaways
The global cold pressed juice market growth is expected to witness high growth between 2023 due to rising health consciousness.
North America currently dominates the market owing to large health-savvy customer base and early adoption of cold pressed juices. The United States accounts for the largest share followed by Canada in the region. On the other hand, the Asia Pacific market is expected to grow at the fastest pace during the forecast period led by countries like India, China and Japan.
Key players operating in the cold pressed juice market are Suja Life, LLC, PepsiCo Inc., juicero, Inc., Greenhouse Juice Co, Liquiteria, Evolution Fresh, and Bolthouse Farms. Suja Life is one of the leading brands in the US with a wide range of cold pressed juices, cleanses and shots. PepsiCo also offers brands like Ozmo and Aquafina in the space. juicero was among the first companies to launch a smart cold press juicer machine for homes but ceased operations in 2017 due to commercial failures.
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