Strong Growth for Citrus Water Market

Ernie NeffMarket

citrus water

The global citrus water market is projected to reflect strong growth in 2020 in spite of the widespread coronavirus outbreak. While lockdown restrictions have limited demand from the food-service sector, lucrative opportunities have arisen for the short-term owing to the demand for functional beverages during the crisis period.

A recent report by Future Market Insights indicates that demand for the beverage will remain strong through 2028. Growth will be driven by clean label and health food trends.

Consumers are displaying increased interest in natural and clean label beverage products, even as they transition away from conventional beverages such as sweetened carbonated drinks. Concerns associated with lifestyle ailments such as diabetes and obesity are contributing to the demand for functional beverages, including citrus water.

Growth of the industry is likely to be hindered by factors such as higher cost of citrus water in comparison with conventional drinks, competition from homemade versions, and consumer skepticism on health benefits of citrus water. Also, fluctuations in the yield and prices of citrus fruit owing to environmental factors could adversely affect the market in the years ahead.

Some of the top takeaways of the report are:

  • The citrus water market has been estimated to be valued at $6.7 billion in 2020, with growth remaining largely unaffected by the COVID-19 outbreak and relevant restrictions on the food-service industry.
  • Premium citrus water products will surpass economic alternatives during the forecast period, owing to improvements in ingredient quality coupled with higher disposable incomes.
  • Tins are gaining attention from manufacturers as an increasingly popular packaging format. However, conventional plastic bottles will remain dominant through 2028 supported by costs and logistical benefits.
  • North America is a frontrunner in the global market, aided by the presence of leading market players and higher consumer awareness. However, Europe is expected to surpass North America by the end of the projection period, supported by robust retail distribution channels and demand for functional beverages.

Some of the top citrus water market players are Danone S.A., Nestle S.A., The Coca Cola Company, PepsiCo Inc., Suntory Beverages & Food Ltd., Super Bock Bebidas and Icelandic Water Holdings.

See the Future Market Insights report here.

Source: Future Market Insights

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