Rockville, MD, November 05, 2010 --(PR.com
)-- MarketResearch.com has announced the addition of Business Insights’s new report “Innovations in Fruit and Vegetable Juices: Emerging opportunities in premiumization, sustainability and positive health” to their collection of Beverages market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2836985.
The global market for juices was valued at approximately $79bn in 2009. This market is projected to grow at a CAGR of 3.4% during 2009-14 to reach a value of $93bn in 2014.
According to the report, among all new product launches across major soft drinks categories, juices accounted for 30.9% share in 2009, an increase of 7.8 percentage points over 2006. Additionally, the juices have outperformed functional drinks in NPD in 2009 by recording an 11.0 percentage point higher share than functional drinks.
During 2006-09, only 2.6% of all new juices launched were innovative. In 2009, 63.6% of all innovations in juices were in formulation. Health and wellbeing continued to be a key growth driver for innovation in functional juice formulations primarily owing to a rise in consumer focus on preventive healthcare.
The fruit drinks (0-29% juice) continue to dominate all other juice categories with a share of 46.1% in NPD in 2009, an increase of 5.8 percentage points over 2006. The share of nectars in NPD has also increased by 4.2 percentage points over 2006 to reach 17.0% in 2009.
In 2009, "no preservatives" garnered the highest share of 11.3% among all other claims, an increase of 3.7 percentage point since 2006 replacing "high vitamins" as the most used claim. The close second is "high vitamins" that accounted for 9.3% share of all claims used in new product launches in 2009, a decline of 1.7 percentage points from 2006.
Major fast food chains such as McDonald's Corporation are also promoting the consumption of fruit and vegetable juices, specifically among children by customizing their menus for kids.
For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2836985.