Juices - Philippines

The Juices market in Philippines has been experiencing significant growth in recent years.

Customer preferences: Customers in Philippines have shown a growing preference for healthier beverage options, which has contributed to the increasing demand for juices. As people become more health-conscious, they are seeking alternatives to carbonated drinks and sugary beverages. Juices are seen as a natural and nutritious choice, as they are often made from fresh fruits and contain essential vitamins and minerals.

Trends in the market: One of the key trends in the Juices market in Philippines is the rise of functional juices. These are juices that are fortified with additional nutrients or ingredients that offer specific health benefits. For example, there has been an increase in the demand for juices that are enriched with antioxidants or probiotics. This trend is driven by consumers' desire to improve their overall well-being and address specific health concerns. Another trend in the market is the growing popularity of organic and natural juices. Consumers are increasingly seeking products that are free from artificial additives and preservatives. They are willing to pay a premium for juices that are made from organic fruits and have minimal processing. This trend is in line with the global movement towards clean and sustainable eating.

Local special circumstances: The Philippines is known for its rich agricultural resources, which makes it an ideal location for the production of juices. The country has a wide variety of fruits that can be used to make juices, such as mangoes, pineapples, and citrus fruits. This abundance of local fruits allows for the production of fresh and flavorful juices, which are highly appealing to consumers.

Underlying macroeconomic factors: The growing middle class in Philippines is a key driver of the Juices market. As disposable incomes rise, consumers have more purchasing power to spend on premium products, including juices. Additionally, the increasing urbanization in the country has led to changing lifestyles and dietary habits. Busy urban dwellers are looking for convenient and healthy options, and juices provide a quick and nutritious solution. In conclusion, the Juices market in Philippines is experiencing growth due to customer preferences for healthier beverage options, the rise of functional and organic juices, the country's rich agricultural resources, and the growing middle class and urbanization. These factors have contributed to the increasing demand for juices and are expected to continue driving market growth in the future.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.