NFC Juices Market Insight
NFC juices market will be thriving at a rate of 3.58% from 2021 to 2028, evaluates Market Research Future (MRFR). By 2028, the market valuation should be around USD 2,510.3 million, expects Market Research Future.
Primary Drivers and Main Deterrents
NFC juices are popular among consumers, as these comprise a higher level of nutrition as well as flavors compared to traditional beverages. This type of juice is a healthier alternative to the traditional drinks laden with sugar and calories. With the constant upgradation in consumers’ living standards, preference for products that enhance health has surged as well. Nutritious and low-calorie beverages such as NFC juices are scaling the popularity chart among people.
Changes in the climatic conditions combined with the rise in hectic lifestyles have been unfavorable for people’s health as well as their energy levels. This steers their focus towards beverages that have high nutrition and are natural, thereby, benefitting the NFC juice industry.
NFC juice offers a variety of natural flavors of different fruits, another aspect that bolsters its appeal among consumers. Second to food, the beverage landscape is surging rapidly, subject to a series of technological innovations. The NFC juice industry will thrive parallel to the stunning growth of the beverage industry.
Key Industry Contenders
The NFC juice key market players, including Kerr Concentrates (US), Louis Dreyfus Company (Netherlands), Lemonconcentrate S.L.U (Spain), Döhler (Germany), CitroGlobeS.r.l. (Italy), Austria Juice (Austria), Ariza b.v. (Netherlands), Kiril Mischeff (UK), Prodalim Group (Israel), Sun Impex (UAE), and more
Types of NFC juices market include blends, lemon, orange, pomegranate, apple, and others. In 2020, orange type was the dominant segment with the highest share of 22.93% while the blends type will be the fastest segment at the rate of 3.95% during the analysis period.
Key categories are organic as well as conventional. The higher NFC juices market size is owned by the conventional segment, accounting to 79.56% as recorded in 2020, whereas the fastest growth rate of 4.31% will be captured by the organic segment.
Top applications of NFC juices are dairy & frozen desserts, non-alcoholic beverages, bakery & confectionery, alcoholic beverages, and others. With the biggest share of 47.97% recoded in 2020, the non-alcoholic beverages segment took the lead in the market, while the dairy & frozen desserts segment can potentially achieve a growth rate of 4.42% over the following years.
Europe will continue being the NFC juices market overview leader, clinching a significant growth rate from 2021 to 2028. The demand for NFC juices is extremely high in the region, especially in Germany, thanks to the high purchasing power of people, and the business strategies adopted by the top brands. The widespread availability of a variety of NFC juices, and the alarming rise in diabetes and obesity would favor the European market as well.
MRFR projects the Asia Pacific NFC juices market to thrive at the fastest rate of 4.05% over the evaluation period. The NFC juices industry in the region is growing relentlessly on the back of rising preference for ready-to-eat food items. Booming urban population across emerging nations, and the surging disposable incomes of the consumers have raised the sales of ready-to-eat items like NFC juices. Intense competition in the regional NFC juices market is encouraging brands to reach out to customers via distribution channels like specialty retail stores, direct sales, pharmacies, drug stores, supermarkets, mass merchandisers and hypermarkets. The soaring number of online stores as well as supermarkets offering consumers with an alternate medium for high-end products should enhance the profit margins for the APAC market in the years to come.
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