For the past five years through 2012, sales of fruit and vegetable juices and juice drinks have remained flat, while the volume consumed by households has barely kept pace with population growth, QSR Magazine reports.
The data reflects undercurrents of change in this $20 billion market, according to a recently released report from Packaged Facts, Fruit and Vegetable Juices: U.S. Market Trends. Between 2007 and 2012, according to Packaged Facts, the consumption of orange juice fell 3.6%, while the consumption of frozen orange juice dropped by nearly 15%.
“It’s not just orange juice for breakfast anymore,” said David Sprinkle, publisher of Packaged Facts, adding that “many of the products posting the highest growth rates are riding the waves of juice bar and smoothie chain trends.”
As a result, the market for packaged juices has been dramatically impacted, as consumers can now purchase exotic blends of fruit juices, smoothies, coconut water, aloe vera juice, and juices made from super-fruits.
According to Packaged Facts, innovation presents an opportunity for growth, especially among culinary- and health trend-conscious consumers. For CPG companies to succeed, they need to continue to launch fresh products using vegetable juice sources such as beets, increasing creative blends of product, reducing the sugar content in their products, and offering juice drink formulations for health-conscious consumers. (NACS: www.nacsonline.com)