Juicer Market by Product and Geography - Global Forecast and Analysis 2019-2023
Global Juicer Market: About this market
Technavio’s juicer market analysis considers sales of centrifugal juicers, masticating juicers, and triturating juicers. Our analysis also considers the sales of juicers in APAC, Europe, MEA, North America, and South America. In 2018, the centrifugal juicer segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as technological advancements will play a significant role in the centrifugal juicer segment to maintain its market position. Also, our global juicer market looks at factors such as product innovation and advances leading to portfolio extension and product premiumization, rising urbanization and changing consumer lifestyles, rise in the number of juice bars, and rise in the discretionary income of consumers. However, fluctuations in raw material prices and operational costs, stringent regulations and standards, and consumer preference for ready-to-drink products may hamper the growth of the juicer industry over the forecast period.
Global Juicer Market: Overview
Rise in the number of juice bars
Consumers are increasingly becoming aware of the health benefits associated with the consumption of freshly prepared juices rather than packaged juices. To capitalize on this trend, several food service establishments are expanding their stores. The increasing number of such stores will increase the adoption of juicers, thereby driving the growth of the global juicer market at a CAGR of almost 8% during the forecast period.
Increasing online retail stores
Vendors in the market have increased the focus of selling their products through retail stores. Moreover, factors such as increased Internet connectivity, growing adoption of mobile devices, and rising consumer awareness is expected to enhance the online sales of juicers. These developments are expected to fuel the growth of the global juicer market.
For the detailed list of factors that will drive the global juicer market size during the forecast period 2019-2023, click here.
With the presence of several players, the global juicer market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several juicer manufacturers, that include Breville Group Ltd., Cuisinart Inc., Hamilton Beach Brands Holding Co., Koninklijke Philips NV, and Kuvings.
Also, the juicer market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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