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The juicer market is estimated to decline at a CAGR of 18.41% and the size of the market is forecasted to decrease by USD 2,346.13 million between 2022 and 2027. The growth of the market depends on several factors, including rapid urbanization and changing lifestyles of consumers, rise in the number of juice bars, and an increase in the discretionary incomes of consumers.
This report extensively covers market segmentation by product (centrifugal juicer, masticating juicer, and triturating juicer), end-user (residential and commercial), and geography (APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The reports categorize the global juicer market as a part of the global household appliances market, which covers the manufacturers of electric household appliances and related products. Household appliances include power and hand tools, including garden improvement tools. Technavio calculates the global household durables market size based on the combined revenue generated by the manufacturers or marketers of consumer electronics, home furnishings, decorative products, household appliances, homebuilding, homeware, and specialty products. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
Rapid urbanization and changing lifestyles of consumers are notably driving market growth, although factors such as fluctuations in raw material prices and operational costs may impede market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Juicer Market Driver
The juicer market is growing due to rapid urbanization and changing consumer lifestyles, particularly in developing countries in APAC where economic growth has led to an increase in disposable incomes. Urban populations and consumers in emerging economies with higher purchasing power are driving the market. Additionally, consumers' growing health consciousness and desire for alternative options to packaged food with preservatives and chemicals are expected to further drive market growth.
Significant Juicer Market Trend
An important trend in the juicer market is the focus on energy-efficient and lightweight products. Residential and commercial end-users are looking for energy-efficient products to reduce costs and save energy, and manufacturers are responding by incorporating energy-efficient equipment and technologies into production and offering energy-efficient products. Additionally, there is a growing demand for products that are energy-efficient and emit fewer harmful substances. Increasing awareness of climate change, growing focus on environmental issues, and rising energy prices are driving demand for lightweight juicers. The use of lightweight materials helps manufacturers reduce the weight and size of juicers and comply with environmental regulations, which is expected to drive market growth in the forecast period.
Major Juicer Market Challenge
Fluctuations in raw material prices and operational costs can impede the growth of the juicer market. These fluctuations can increase the prices of juicers and reduce the profit margins of manufacturers. Additionally, the volatility in the prices of raw materials used in the manufacturing of juicers, such as steel, iron, plastic, glass, electronic equipment, and paint, can increase the prices of juicers. Transportation costs also play a role, as fluctuations in fuel prices can increase the costs of transportation and make local brands more appealing to consumers. These challenges are expected to negatively impact the growth of the global juicer market.
Key Juicer Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Juicer Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product launches, to enhance their presence in the market.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the centrifugal juicer segment will be significant during the forecast period. Centrifugal juicers are the most widely used juicers across the world, especially among residential users. They are more effective when compared to other juicers, as they can churn fruits and vegetables at high speed. In addition, centrifugal juicers are cost-effective, which is one of the main reasons for their high adoption in household applications.
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The centrifugal juicer segment showed a gradual increase in the market share of USD 173.13 million in 2017 and continued to grow by 2021. With the high acceptance of centrifugal juicers in residential applications, vendors are focusing on providing technologically advanced juicers with multiple functions. For instance, Philips offers the Philips Avance centrifugal juicer that has FiberBoost technology, which can adjust the fiber content of the juice to make the juice thicker. Thus, the incorporation of advanced technologies is likely to attract more consumers, which will further drive the growth of this segment during the forecast period.
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APAC is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The rising income of the middle-class population has increased the spending power of consumers in APAC, which is driving the growth of the market in the region. APAC is expected to be the fastest-growing region during the forecast period owing to the health and wellness trend, particularly in emerging economies such as China and India. The demand for smoothies and juices made of fruits and vegetables is increasing, which will further propel the growth of the juicer market in APAC during the forecast period.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. In 2020, the outbreak of COVID-19 negatively impacted the overall trade and economy of APAC. However, the lifting of lockdown restrictions and extensive vaccination drives led to the resumption of operations, which increased the demand for juicers in the region. In addition, the need for healthier immune systems increased the demand for juicers. Such factors are expected to fuel the growth of the juicer market in APAC during the forecast period.
The report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by product, end-user, and geography.
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Juicer Market Scope |
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Report Coverage |
Details |
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Page number |
168 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 18.41% |
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Market growth 2023-2027 |
USD 2,346.13 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
26.56 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 41% |
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Key countries |
US, China, India, UK, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AB Electrolux, Bajaj Electricals Ltd., Borosil Ltd., Breville USA Inc., Cuisinart, DeLonghi Spa, Donlim, Hamilton Beach Brands Holding Co., Havells India Ltd., Hurom America Inc., Joyoung Co. Ltd., Koninklijke Philips NV, Kuvings, Midea India Pvt. Ltd., Newell Brands Inc., Omega Juicers, Panasonic Holdings Corp., SEB SA Co., Treasure Retail Pvt. Ltd., and TTK Prestige Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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