Juicer Market to be dominated by Electric Juicer Segment at a CAGR of 6.60 percent -Says Stellar Market Research

PUNE, India, July 26, 2024 /PRNewswire/ -- The Juicer Market size was valued at USD 2.43 Bn in 2023 and the total Juicer market size is expected to grow at a CAGR of 6.60 percent from 2024 to 2030, reaching nearly USD 3.80 Bn by 2030. Juicers are becoming more popular worldwide as a result of customer's growing preference for fresh fruit and vegetable juices over packaged juices due to growing health concerns. Fresh fruit and vegetable juices are full of antioxidants, which boost immunity and have positive effects on the body's physical, mental, and spiritual health. The growing popularity of juicing as a way to improve one's health and as a means to reduce weight, improve overall health, control blood sugar levels, improved digestion, and have more energy. 

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Based on Type, the centrifugal Juicer Segment dominates with significant CAGR

The centrifugal segment dominates the global juicer market because of its efficiency and affordability, appealing to a wide range of consumers. Operating at high speeds, typically between 6,000 to 14,000 RPM, centrifugal juicers can extract juice quickly, catering to time-conscious users. Their ability to handle a variety of fruits and vegetables, including harder produce like carrots and apples, makes them versatile. In comparison to masticating juicers, which are generally more expensive and operate at around 80 RPM, centrifugal juicers offer a cost-effective alternative, attracting budget-conscious consumers. For instance, Breville's JE98XL model has been highly rated for its performance and affordability. Additionally, centrifugal juicers possess a simpler design and fewer components, making assembly, disassembly, and easy Cleaning by enhancing user convenience. According to SMR, approximately 65% of juicer users prioritize ease of cleaning when choosing a juicer. The combination of speed, versatility, ease of use, and affordability ensures the centrifugal segment's dominance in the global juicer market.

Asia Pacific to be the largest in the Juicer Industry during the forecast period.

In 2023, the Asia Pacific region held a leading position in the global juicer market attributing to the growing middle class and their growing inclination towards health-conscious living, which has increased the demand for juicers. The rise in urbanization rates in nations such as China and India has been significant, with China experiencing a 60% increase in urban population over the last decade contributing to the increased consumption of fresh juices. Technological advancements and innovations like smart juicers with IoT capabilities are enhancing the market demand for kitchen appliances. South Korea and Japan are at the forefront of developing cutting-edge juicers influencing their technological prowess. Rising disposable incomes, particularly in China where per capita income is growing by 4.4% annually, are enabling consumers to purchase premium kitchen appliances. Additionally, government policies that are supportive of small and medium-sized enterprises (SMEs) in countries such as India are contributing to the growth of the manufacturing sector, encouraging local production and decreasing the dependence on imports. The increasing focus on health indicated by a 25% increase in fitness club memberships from 2017 and 2022, is also driving the juicer market, with consumers placing a higher value on nutritious diets.

Competitive Landscape

The global juicer market is highly competitive with numerous key players such as AB Electrolux, Bajaj Electricals Ltd., Borosil Ltd., Breville Group Ltd, Conair, HUROM, and Hamilton Beach Brands Holding Co. among others.

Key Player Offering

• HUROM has unveiled its latest innovation, the H70 Easy Clean Slow Juicer. This compact yet powerful juicer combines the brand's patented Slow Squeeze Technology with an upgraded easy-clean chamber set for maximum efficiency and convenience. Designed to preserve nutrients and extract the most juice from produce, the H70 offers a balance of performance and practicality, making it an ideal choice for health-conscious consumers seeking a hassle-free juicing experience.

For Key Players and Their Offerings

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Highlights:

• Historic Market Size (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size & Forecast by Different Segment | 2024−2030
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation – A detailed analysis by Type, Category, Application, Distribution Channel, and Region
• Competitive Landscape – Profiles of selected key players by region in a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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SOURCE Stellar Market Research