Sep 8, 2018 SOURCE: BusinessWire

The 2018 GCC Fruit Juice Market - Forecast to 2023: Market to Exceed $3 Billion - ResearchAndMarkets.com

The "GCC Fruit Juice Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.

The GCC fruit juice market reached a value of US$ 2,150 Million in 2017. Looking forward, the researchers expect this market to grow at a CAGR of 5.9% during 2017-2023, reaching a value of US$ 3,032 Million by 2023.

Catalysed by its oil and gas sector, the GCC region has witnessed strong economic growth over the last few decades. Moreover, with over 75% of the population living in urban areas, the GCC is one of the most urbanised regions of the world. As a result of changing lifestyles, consumers are opting for ready-to-drink beverages such as fruit juices thanks to their easy availability, anytime-anywhere consumption, and convenience.

The prevalence of overweight and obesity is fairly high in the GCC countries and consumers are increasingly becoming concerned regarding their health. This is creating a shift of consumer preferences from carbonated and artificial beverages towards natural and healthier alternatives such as 100% fruit juices.

The GCC region has a large and culturally diverse population with around half of the population being less than 25 years of age. Population growth rates in the region is also significantly higher compared to most of the other parts of the world. With the young and working population representing a key consumer base for fruit juices, we expect demand to remain high in the coming years.

On the basis of product, the market has been segmented as juice drinks, 100% fruit juice, concentrates, nectars, powdered juice and others. Juice drinks dominate the market, holding the largest share.

Based on the flavour, orange accounts for the majority of the total market share. Other major flavours include mango, mix fruit, apple and others.

Based on the type of packaging, the market has been segregated into tetrapack, bottles, cans and others. Amongst these, tetrapack accounts for the majority of the market share.

On the basis of distribution, the market has been segmented into supermarkets and hypermarkets, convenience stores, specialty stores, online and others.

Country-wise, the market has been segmented into Saudi Arabia, UAE, Kuwait, Oman, Qatar and Bahrain. Amongst these, Saudi Arabia is the biggest market, accounting for the majority of the total market.

Leading Players