Statista predicts that revenue in the global juice market will amount to US$69 billion in 2020. The market is expected to grow annually by 2.6% (CAGR 2020-2023).
The juice market is expected to show a revenue growth of 3.9% in 2020. Grapefruit juice is the fastest-growing segment at 10.0%.
The top 5 economies predicted to generate the most revenue in the juice market are the United States, Japan, China, Germany and France. The US in particular will generate the most revenue in 2019, with a market volume of US$12.1 billion in 2019.
The current leading markets for juices are in developed regions like the U.S., Japan, and Europe, with high consumption rates among these populations. Mordor Intelligence predicts that manufacturers of fruit and vegetable juices are likely to gain export opportunities from growing consumption in developing countries. In the Asia Pacific region, countries like China, India, Japan and Australia are also stimulating major sales.
According to Research and Markets, developing markets in Asia, Latin America, the Middle East and Africa are projected to display superior growth rates during the forecast period, with growing populations and rising incomes the major factors driving growth in these regional juice markets.
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