A new report indicates the global fruit and vegetable juice market is steadily growing and is expected to hit a market size of nearly $230 billion.
The report by California-based Grand View Research said the global fruit and vegetable juice market is expected to register a CAGR of 6.3% over the next 8 years, leading it to reaching $228.96 billion in sales by 2030.
The expected growth is driven by a rise in popularity with consumers and an increasing consumption of fruit juices, the introduction of fruit and vegetable blends and rising incomes in emerging markets.
Grand View Research also expects the consumption of soft drinks, such as colas, flavored sodas, and other sweetened beverages to decline in the coming years as consumers continue to adopt more healthy lifestyles.
“Consumers have become more aware of the harmful health effects associated with the consumption of sugary carbonated drinks,” according to Grand View Research. “ In addition to this, the growing focus on healthy lifestyles among the young, as well as working-class populations across the globe, is increasing the scope for natural fruit-based beverages.”