The market for juice extraction equipment is anticipated to expand globally from 2023 to 2033 at a CAGR of 6.2%, according to a new FMI analysis. The market for juice extraction equipment is anticipated to grow from US$ 13,100 Mn in 2023 to US$ 23,906.5 Mn in 2033.
Fruit & vegetable juice extractors and blenders are useful tools for extracting juice. The juice extraction equipment is multitasking and capable of conducting a wide variety of tasks. It has a high-powered motor. Extracts of all kinds are becoming increasingly popular in recent years. Juicers come in three different types, namely, centrifugal, titrating, and masticating.
High consumption of fruit juices owing to increasing health consciousness among consumers is projected to drive the global juice extraction equipment market in the next ten years. Besides, increasing demand for milkshakes and smoothies in both developing and developed countries is likely to push the market forward.
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Many large-scale and start-up companies worldwide are engaging in social media marketing, as well as influencer marketing by hiring celebrities and sports personalities to launch their products in the market. In September 2022, 1NE, a leading seasoning and beverage brand under the subsidiary of Livinia foods, joined hands with renowned actress Mouni Roy to launch its new line of trendy fruit juices. The coconut and aloe vera flavored beverages are infused with immunity-boosting abilities.
Key Takeaways from the Juice Extraction Equipment Market Study:
- During the historical period of 2018 to 2022, the global juice extraction equipment market exhibited considerable growth at a CAGR of nearly 3%.
- The Germany juice extraction equipment market is projected to grow at a CAGR of around 93% over the next ten years.
- The China juice extraction equipment market is projected to grow at a CAGR of around 38% during the forecast period.
- The juice extraction equipment market in Europe currently accounts for 33% of the global share.
- North America currently holds around 28% of share in the juice extraction equipment market.
“Rising awareness regarding the health benefits associated with organic vegetables and clean-label products is expected to aid growth. In addition to that, increasing shift of consumers towards fitness and rising participation in sports are projected to foster sales in the market,” says a lead analyst at Future Market Insights.
Competitive Landscape: Juice Extraction Equipment Market
Key companies operating in the global juice extraction equipment market are facing intense competition from local players. The presence of small-scale firms who sell their products at slightly lesser prices is causing the market to be highly fragmented. It is thus compelling international companies to upgrade their existing portfolios and introduce affordable products for customers worldwide.
Royal Philips Group of the Netherlands, for instance, is a diverse technology firm focusing on enhancing people’s lives via significant innovation in healthcare, consumer lifestyle, and lighting. The firm is a pioneer in cardiac care, acute care, and home healthcare, as well as energy-efficient lighting solutions and innovative lighting applications, male shaving & grooming, and oral healthcare. Phillips juice extractor is one of the many products manufactured by Philips. It also includes an automatic pulp ejection system so that the user does not have to worry about getting their hands dirty.
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Get Valuable Insights into Juice Extraction Equipment Market
FMI, in its new offering, provides an unbiased analysis of the juice extraction equipment market presenting historical demand data (2018-2022) and forecast statistics for the period from (2023-2033). The study divulges compelling insights on the demand for juice extraction equipment based on type (masticating juice extractors, centrifugal juice extractors, triturating juice extractors, juicing press, steam juice extractor), by application (dairy, beverage, bakery, confectionery), by use type (commercial juice extractors, industrial juice extractors), and by distribution channel (internet retailing, mass retailers, direct selling) across major regions.
Juice Extraction Equipment Market Outlook by Category
By Type:
- Masticating Juice Extractors
- Centrifugal Juice Extractors
- Triturating Juice Extractors
- Juicing Press
- Steam Juice Extractor
By Application:
- Dairy
- Beverage
- Bakery
- Confectionery
- Others
By Use:
- Commercial Juice Extractors
- Industrial Juice Extractors
By Distribution Channel:
- Internet Retailing
- Mass Retailers
- Direct Selling
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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