Juicer Market by Product, End-user, and Geography - Forecast and Analysis 2020-2024

  • Published: Apr 2020
  • Pages: 120
  • SKU: IRTNTR40569

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The juicer market size has the potential to grow by USD 666.87 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by product (centrifugal juicer, masticating juicer, and triturating juicer), end-user (residential and commercial), and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Breville Group Ltd., Cuisinart Inc., Electrolux AB, Hamilton Beach Brands Holding Co., Koninklijke Philips NV, Kuvings, Newell Brands Inc., Panasonic Corp., Groupe SEB, and Sharp Corp.

What will be the Juicer Market Size in 2020?

juicer-market-size

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Who are the Major Juicer Vendors?

The market is fragmented, with the presence of several international players as well as a few small-scale regional players. To gain a stronghold, vendors are focusing on forming partnerships and strategic alliances. Kuvings, Newell Brands Inc., Panasonic Corp., Groupe SEB, and Sharp Corp. are some of the major market participants. Although the rising urbanization and changing consumer lifestyles will offer immense growth opportunities, Fluctuations in raw material prices and operational costs will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this juicer market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this juicer market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Breville Group Ltd.
  • Cuisinart Inc.
  • Electrolux AB
  • Hamilton Beach Brands Holding Co.
  • Koninklijke Philips NV
  • Kuvings
  • Newell Brands Inc.
  • Panasonic Corp.
  • Groupe SEB
  • Sharp Corp.

Which are the Key Markets for Juicer?

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APAC accounted for the largest juicer market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rising health consciousness among people and the growing focus on fitness will significantly influence juicer market growth in this region.

44% of the market’s growth will originate from APAC during the forecast period. India and China are the key markets for juicers in APAC. Market growth in this region will be faster than the growth of the market in other regions.

What are the Major Product Segments in the Juicer Market?

juicer-market-share-by-distribution-channel

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The incorporation of advanced technology and the low cost of centrifugal juicers will boost its adoption for household applications. However, market growth in this segment will be slower than the growth of the market in the masticating juicer and triturating juicer segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the juicer market size.

How will Smart Juicers Influence Juicer Market Growth?

The growing demand for advanced and innovative products has encouraged juicer manufacturers to develop smart juicers that are user-friendly, aesthetically appealing, and offer various advanced features. Mobile app control, the ability to extract juice directly into a variety of glass and container sizes, food and drink recipes, and adjustable mode based on the fruit or vegetable being juiced are some of the advanced features provided in smart juicers. Additionally, smart juicers offer hassle-free maintenance, remote control, enhanced safety, improved functionality, and energy savings. These beneficial features of smart juicers enhance the convenience of users, influencing its increased adoption among consumers. The growing adoption of smart juicers will be one of the critical juicer market trends that will impact market growth during the forecast period.

The increasing health consciousness among consumers has boosted the demand for fruit and vegetable juices. However, consumers prefer fresh fruit and vegetable juices over packaged juices because of their high sugar and preservative content. Fresh fruit and vegetable juices are rich in antioxidants, strengthen the immune system, and provide physical, mental, and spiritual benefits. The growing demand for fresh and vegetable juices coupled with the lack of time to exercise and to prepare juice at home have encouraged various foodservice establishments to increase the number of juice bar outlets. The rise in the number of juice bars will subsequently fuel the growth of the juicer market. As a result of such factors, the market will register a CAGR of almost 8% during the forecast period.

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What are the Key Factors Covered in this Juicer Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive juicer market growth during the next five years
  • Precise estimation of the juicer market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the juicer market industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of juicer market vendors 

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The juicer market growth will increase by $666.87 million during 2019-2024.
The juicer market is expected to grow at a CAGR of 7.74% during 2019-2024.
Technavio has segmented the juicer market by product (Centrifugal juicer, Masticating juicer, and Triturating juicer) ,distribution channel (Offline and Online) , and geographic (APAC, Europe, North America, and South America).
Breville Group Ltd., Cuisinart Inc., Electrolux AB, Hamilton Beach Brands Holding Co., Koninklijke Philips NV, Kuvings, Newell Brands Inc., Panasonic Corp., Groupe SEB, Sharp Corp. are a few of the key vendors in the juicer market.
APAC will register the highest growth rate of 48.15% among the other regions. Therefore, the juicer market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • China
  • India
  • Germany
  • France
The key factors driving the juicer market growth are:
  • Rising urbanization and changing consumer lifestyles
  • Growing adoption of closed one-piece ostomy bags
The juicer market vendors should focus on grabbing business opportunities from the centrifugal juicer segment as it accounted for the largest market share in the base year.
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