AI is Redefining the Juicer Market, USD 9.04 Billion Growth Forecast (2024-2028) Driven by Urbanization and Changing Lifestyles - Technavio Report

NEW YORK, Sept. 18, 2024 /PRNewswire/ -- Report with market evolution powered by AI- The global juicer market size is estimated to grow by USD 9.04 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 38.2% during the forecast period. Rising urbanization and changing consumer lifestyles is driving market growth, with a trend towards rising focus on manufacturing energy-efficient and lightweight juicers. However, fluctuations in raw material prices and operational costs poses a challenge. Key market players include AB Electrolux, Bajaj Electricals Ltd., Borosil Ltd., Breville Group Ltd., Cuisinart, DeLonghi Group, Donlim, Hamilton Beach Brands Holding Co., Havells India Ltd., Hurom America Inc., Joyoung Co. Ltd., Koninklijke Philips N.V., Kuvings, MIDEA Group Co. Ltd., Newell Brands Inc., Omega Juicers, Panasonic Holdings Corp., SEB Developpement SA, Treasure Retail Pvt. Ltd., and TTK Prestige Ltd..

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Market Driver

In the juicer market, energy efficiency is a significant consideration for both residential and commercial consumers to reduce costs and save energy. Juicer manufacturers are responding to this demand by integrating energy-efficient technologies and equipment into their machines. Companies like Panasonic, Electrolux, and Philips are leading the way in this area. Additionally, the trend towards using lightweight materials in household appliances, such as aluminum, composites, high-strength steel, magnesium, and plastics, is growing rapidly. The primary reason for this trend is the demand for energy-efficient and eco-friendly products that emit fewer harmful substances and less noise pollution. The increasing awareness of climate change and environmental issues, as well as rising energy prices, are driving the demand for lightweight juicers. For instance, aluminum has a density of 2.7 g/cm3, while polymers have a density of around 1.3 g/cm3. This difference in density allows for weight reduction and cost savings. By using lightweight materials in juicer bodies and parts, manufacturers can reduce both the weight and size of the juicer, making it more appealing to consumers and helping them comply with environmental regulations. These advancements in juicer technology are expected to fuel market growth in the coming years. 

Juicers are popular kitchen appliances that extract the natural goodness from fruits, vegetables, and herbs. Current trends include a focus on antioxidants, vitamins, and minerals. Technology innovation brings US various types like centrifugal, masticating, and triturating juicers. Goodnature's sleek designs are a hit in the kitchenware segments. Fruits, vegetables, and raw fruits or vegetables are common ingredients. Television shows and health awareness campaigns promote juicing as a healthy dietary food item. The tourism industry and juice shops/bars offer unique juicing experiences. Discounts, coupons, and vouchers make juicers more accessible. Residencies for juicing experts add value. Breakfast culture fuels the demand for juicers. Innovations include smart homes integrating juicers, antimicrobials for hygiene, and conditioners/moisturizers for pulp. Commercial and residential markets cater to mixers, grinders, reamers, juicing presses, steam juice extractors, and electric juicers. Lifestyle and health consciousness drive the market growth. Triturating and masticating juicers are commercial favorites. 

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 Market Challenges

• The price of juicers is influenced by various factors, including manufacturing costs, labor costs, raw material prices, and transportation and marketing expenses. Manufacturing costs, labor costs, and raw material prices account for a significant portion of the juicer's final price. Raw materials, such as steel, iron, plastic, and rubber, have experienced price volatility in both the US and international markets. This instability in raw material prices can result in either increased juicer prices or reduced manufacturer profit margins. Transportation costs, which include fuel prices, also impact the final product price. Fluctuations in fuel prices significantly affect the cost of transporting raw materials and finished goods. For instance, rising crude oil prices can lead to increased fuel costs and higher transportation expenses. In a competitive market with numerous international and local vendors, manufacturers must keep juicer prices affordable to avoid losing consumers to cheaper alternatives. As a result, vendors often reduce their profit margins, which can impact their operational and research and development costs. Overall, raw material price fluctuations pose a challenge for juicer manufacturers in the global market, potentially hindering market growth during the forecast period.
• In the dynamic market of Juicers, breakfast culture and tourism industry create significant opportunities. Juice shops and bars are thriving, requiring various types of juicers like mixers, grinders, electric juicers, and centrifugal, masticating, and triturating juicers. Households and smart homes also contribute, with health consciousness driving demand for dietary food items like vegetables, herbs, raw fruits, and raw vegetables. Lifestyle and health awareness campaigns boost sales. Commercial and residential sectors seek advanced juicers with antimicrobials, conditioners, and moisturizers, while avoiding Paraben, propellants, and other additives. Store-based sales remain crucial, offering a wide range of juicers catering to diverse customer needs.

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Segment Overview 

This juicer market report extensively covers market segmentation by

1. Product 
• 1.1 Centrifugal juicer
• 1.2 Masticating juicer
• 1.3 Triturating juicer
2. End-user 
• 2.1 Residential
• 2.2 Commercial
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Centrifugal juicer- Centrifugal juicers are the most widely used type of juicer in residential applications due to their efficiency and affordability. These juicers feature a mesh chamber with sharp teeth and a high-speed metal blade that shreds fruits and vegetables into pulp, separating the juice. Centrifugal juicers are ideal for juicing high-fiber fruits and vegetables like carrots, apples, and beetroot. While they can process produce quickly, they generate heat and noise, which may impact the nutritive value and freshness of the juice. Despite these limitations, centrifugal juicers are cost-effective and popular for home use. Vendors, such as Philips, are enhancing these juicers with advanced technologies, like FiberBoost, to cater to consumer preferences and expand market growth. Centrifugal juicers cost between USD40 and USD200, making them an accessible option for households.

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Research Analysis

Juicers are innovative kitchen appliances that extract the natural goodness from raw fruits, vegetables, and herbs. Antioxidants and vitamins and minerals abound in these fresh produce, making juicers a popular choice for health-conscious households and smart homes. From electric juicers like centrifugal, multicasting, and triturating models, to manual reamers and juicing presses, there's a juicer for every kitchen and lifestyle. Television shows and kitchenware segments have showcased the benefits of juicing, making it a trendy dietary food item. The technology innovation in juicers allows for efficient extraction of juice while minimizing pulp and maximizing nutrient retention. Steam juice extractors are a recent addition to the market, preserving the heat-sensitive nutrients in fruits and vegetables. Fruits, vegetables, and herbs are the primary ingredients for juicing, with raw fruits and vegetables providing the most nutritional benefits. The design of juicers has evolved to cater to various kitchenware segments, making them stylish and convenient additions to any kitchen. Whether you're a beginner or an experienced juicer, there's a juicer to suit your needs and preferences.

Market Research Overview

Juicers have become a popular kitchen appliance for households and commercial establishments, as people increasingly prioritize their health and wellness. Antioxidants found in fruits and vegetables are extracted and concentrated through juicing, providing a rich source of vitamins and minerals. Technology innovation and design have transformed juicers into sleek and efficient machines, with various types such as centrifugal, masticating, and triturating juicers catering to different needs. Juice shops, bars, and even television shows have fueled the trend, offering discounts, coupons, and vouchers to attract customers. The kitchenware segment has expanded to include mixers, grinders, and reamers, while smart homes integrate juicers into their systems. Breakfast culture and the tourism industry have also been influenced by the juice craze, with many offering unique juicing experiences. Vegetables, herbs, raw fruits, and raw vegetables are all fair game for juicing, making it a versatile dietary food item. Health consciousness campaigns continue to promote the benefits of juicing, with antimicrobials, conditioners, and moisturizers added to some models for added health benefits. Paraben-free, propellant-free, and store-based options are also available for those with specific preferences.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Centrifugal Juicer
• Masticating Juicer
• Triturating Juicer
• End-user
• Residential
• Commercial
• Geography
• APAC
• Europe
• North America
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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