Juices Market in Europe: A Healthy Growth Story
In 2023, the European Juices market is bubbling with a revenue of approximately US$33.59 billion, and the glass is half full with the promise of further growth. With an expected annual increase of 2.25% (CAGR 2023-2027), this market is ripe for exploration and investment. So, what makes this market so appealing?
The United States Leads the Way While Europe is making its mark in the Juices market, it’s crucial to recognize that the United States is taking the lion’s share with a staggering US$26.09 billion in revenue in 2023. It’s evident that the love for juices transcends borders and continents, with the U.S. setting a high standard.
A Juicy Revenue per Person In Europe, each individual is contributing US$39.55 to the Juices market in 2023. This highlights a healthy appetite for this refreshing and nutritious beverage. It’s not just a trend; it’s becoming a part of daily life for many.
Out-of-Home Consumption on the Rise By 2027, we can expect 49% of spending and 13% of volume consumption in the Juices market to be attributed to out-of-home experiences. Bars and restaurants are embracing this trend, indicating that consumers are seeking not just convenience but an overall experience when it comes to enjoying their favorite juices. It’s a testament to the adaptability of this market.
Volume Growth on the Horizon Volume is a key indicator of the market’s vitality, and the Juices market is expected to reach 8.64 billion liters by 2027. This represents a 1.1% increase in 2024, showing that the market isn’t just stagnant but evolving.
Per Capita Consumption on the Rise The average volume per person in the Juices market is projected to be 10.10 liters in 2023. This underlines the growing significance of juices in the daily diets of Europeans. It’s no longer just a beverage; it’s a lifestyle choice.
As we look to the future, the European Juices market appears to be on a steady upward trajectory, offering opportunities for businesses and entrepreneurs alike. With consumers seeking more out-of-home experiences and embracing a healthier lifestyle, the market is ripe for innovation and diversification.
So, whether you’re a producer, distributor, or simply an enthusiast of the Juices market, there’s a lot to look forward to. With sustained growth, changing consumption patterns, and a passion for all things juicy, this market is a refreshing glass of opportunity in the world of beverages.