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I need to know the ins-and-outs of the people who are buying and consuming pressed juices from juicers and grocery stores.
Despite an extensive search through industry reports, government databases, corporate websites and trusted media sites, I was unable to find many recent statistics or data around who is buying and consuming pressed juices from juicers and grocery stores. However, I was to find out that Millennials are the largest consumers of cold-pressed juice beverage in the U.S. The Juice Beverage Industry is valued at nearly $2.3 billion dollars in revenue annually, with the cold-pressed juice market being worth about $100 million of the total. The market is expected to grow annually at the rate of 1.48% through 2019.
FRESH JUICE CONSUMPTION AND DEMOGRAPHICS
Millennials are the largest consumers of cold-pressed juice beverages in the U.S. They form the largest generation constituting over 21% of the American population and are health conscious. 40% of Millennials are bored with standard fruit and juice flavours and would rather go for locally sourced and uniquely blended juice. According to Fona, 53% of Millennials would stop at their favourite convenience store on a daily or weekly basis. 33% of juice drinkers age 25 to 34 (older Millennials) would have purchased freshly prepared juice from a deli or produce section in a store.
About half of juice drinkers consume fresh juice to increase their servings of vegetable and mineral intake. Foodbusinessnews reported a statement by Jennifer Zegler, a consumer trends analyst with Mintel, who said that "24% of people who take vitamins, minerals, or supplements do so to compensate for poor eating habits".
A 2012 market report by Agr provides deeper insight into the U.S fresh fruit consumption habit and demographics:
1. Younger Millennials especially females of age 25 and under, and Baby Boomers (65+ years) consume 20% more than the average rate of other generation.
2. Older Millennials between 35-54 years old, mainly males consume less than 20% of the average rate of consumption.
4. The South Atlantic and Mid-Atlantic region has the highest share of fruit juice consumption with about 35% of total region .
INDUSTRY OVERVIEW AND GROWTH
According to a report by Fona, the Juice Beverage industry is worth $2.3 billion in revenue annually, out of which the cold pressed juice market is valued at about $100 million yearly.
The increased awareness and demand for detoxifying juice cleanses, has led to the growth of the raw and cold pressed juices.
According to the PR Newswire, "the juice market in the US will be positively affected by the growth of the organised retail sector. The rise of the customer base for these products has necessitated an increase in the availability of fruit juice products in a variety of retail stores, such as supermarkets, hypermarkets, and pop-up stores, making it convenient for consumers to purchase them".
Fresh juice consumption has increasingly become desirable. Consumers no longer fancy the time consuming sit down options of the dining due to today's fast-paced lifestyle according to a Forbes report.
CONCLUSION
To wrap it up, Millennials are the largest consumers of cold-pressed juice beverage in the U.S. Also, the Juice Beverage Industry is valued at nearly $2.3 billion dollars in revenue annually, with the cold-pressed juice market being worth about $100 million of the total.