Conditions in the industry are expected to improve over the five years through 2017-18, buoyed by a recovering economy, ongoing marketing initiatives, product innovation and demand for healthy, convenient beverages.
Revenue growth will remain positive throughout the five-year period, with rising health awareness and consumers’ demand for natural and premium products increasing sales of higher value fruit juices and smoothies. Growth will, however, remain short of that achieved prior to the financial crisis, according to IBISWorld.
IBISWorld industry analyst Steven Connell, said: “Since 2008, however, fruit juice has been among the worst performing beverage classes, with recessionary conditions leading consumers to trade down or across to carbonated soft drinks and more economical still beverages.”
Source: IBISWorld
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