The sugarcane juice market was valued at US$ 138.09 million in 2021 and is projected to reach US$ 233.61 million by 2028. It is expected to grow at a CAGR of 7.8% from 2021 to 2028.
Sugarcane juice is a rich source of fibers, vitamins, minerals, antioxidants, and phytochemicals. Due to its low glycemic index, it does not spike the blood sugar level. It is suitable for diabetic patients when consumed moderately. Moreover, it balances the body’s heat and creates a cooling effect. Many dieticians recommend sugarcane juice to people in a bid to aid their weight loss journey.
North America is projected to grow at the fastest CAGR in the global sugarcane juice market from 2021 to 2028. Due to the rising popularity of sugarcane juice as a detox drink amongst people, the presence of robust retail infrastructure, availability of products of different brands, and rising preference for natural juices and health drinks, the North America sugarcane juice market is projected to grow at a substantial rate. The presence of prominent manufacturers, such as Goya Foods, Inc. and Bhoomi, that offer their products through multiple retail channels across the region is anticipated to boost the regional market growth over the forecast period.
Manufacturers are also focusing on innovative and sustainable product packaging to meet the rising sustainability concerns of customers. For instance, Bhoomi offers sugarcane juice in a 100% plant-based bottle. Such innovations are expected to further drive the market growth over the forecast period.
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Sugarcane Juice Market: Strategic Insights
Market Size Value in US$ 138.09 Million in 2021 Market Size Value by US$ 233.61 Million by 2028 Growth rate CAGR of 7.8% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Sugarcane Juice Market: Strategic Insights
| Market Size Value in | US$ 138.09 Million in 2021 |
| Market Size Value by | US$ 233.61 Million by 2028 |
| Growth rate | CAGR of 7.8% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Impact of COVID-19 Pandemic on Sugarcane Juice Market
Impact of COVID-19 Pandemic on Sugarcane Juice Market
Many sectors, including the food and beverage industry, are facing unexpected challenges due to the ongoing coronavirus pandemic. Various restrictions, such as lockdowns, the shutdown of manufacturing units, travel bans, and border restrictions, disrupted the global supply chains. This also led to a shortage of raw materials and labor. However, the demand for sugarcane juice has increased significantly as people started consuming food and beverages that help in boosting immunity. The demand for hygienically extracted and packaged sugarcane juice surged as the hygiene concerns increased due to the pandemic. Thus, the COVID-19 pandemic created positive growth opportunities for the sugarcane juice market. E-commerce played a significant role in improving product sales as it offered home delivery services even during lockdowns. This factor is projected to contribute to the growth of the sugarcane juice market during the forecast period.
Sugarcane Juice Market Breakdown: By Region
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Increasing Demand for On-The-Go Food and Beverages
Ready-to-consume food and beverages are gaining popularity as they are convenient to consume and not restricted to a specific location or time. Packaged food & beverages have occupied most of the retail space due to the rising on-the-go food consumption trend. Rapidly transforming lifestyles of consumers, owing to hectic work schedules and rise in disposable income levels, are the key factors propelling the demand for packaged food and beverages. Packaged sugarcane juice is a healthy beverage that is easy to consume on the go. The availability of packaged sugarcane juice of multiple brands across various retail spaces has created a massive demand for the product. Thus, the trend of on-the-go food & beverage consumption is expected to drive the demand for packaged sugarcane juice in the coming years.
Category Insights
Based on the category, the sugarcane juice market is bifurcated into organic and conventional. The conventional segment accounted for a larger market share in 2020, and the organic segment is expected to register a higher CAGR in the market during the forecast period. Conventional sugarcane juice is obtained from conventionally grown sugarcane using chemical fertilizers and pesticides. Manufacturers also use chemical preservatives during juice processing to preserve its original flavor and taste. Conventional sugarcane juice is cheaper than organic one. Local food manufacturers use conventional sugarcane juice due to its affordability and availability.
Sugarcane Juice Market, by Category – 2020 and 2028
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Packaging Type Insights
Based on the packaging type, the sugarcane juice market is bifurcated into bottles, cans, and others. The bottles segment accounted for a larger market share in 2020, and the cans segment is expected to register a higher CAGR in the market during the forecast period. Cans are cylindrical containers generally made of several metals, such as tin, steel, and aluminum. Cans are portable, leak-proof, and an excellent packaging alternative, as they require low maintenance than glass bottles. Moreover, cans are fancy and attractive, which is why most people prefer cans over bottles.
Distribution Channel Insights
The sugarcane juice market is bifurcated into supermarkets and hypermarkets, convenience stores, online retail, and others based on the distribution channel. The supermarkets and hypermarkets segment accounted for a larger market share in 2020. The online retail segment is expected to register a higher CAGR in the market during the forecast period. Due to a heavy customer base, manufacturers of sugarcane juice usually prefer to sell their products through supermarkets and hypermarkets. Moreover, such stores have modern storage facilities that ensure ideal storage conditions for sugarcane juice. Sugarcane juice brands are widely available across well-known supermarkets, such as Walmart, Kroger, and H-E-B stores.
Leading players in the sugarcane juice market include Goya Foods, Inc.; KGN London; NutriCana; Nutricane Beverages Pvt. Ltd.; Rakyan Beverages; So’Kanaa; Numaoy Raimaijon Co.,Ltd.; Hurrycane; Mr. Sugarcane; and Muddy Puddle Foods Pvt Ltd.; among others. These players are investing to expand their retail presence to cater to large consumer groups across different regions.
Report Spotlights
- Progressive industry trends in the sugarcane juice market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the sugarcane juice market from 2019 to 2028
- Estimation of global demand for sugarcane juice
- Porter’s five forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook as well as factors driving and restraining the growth of the sugarcane juice market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The size of the sugarcane juice market size at various nodes
- Detailed overview and segmentation of the market, as well as the sugarcane juice industry dynamics
- Size of the sugarcane juice market in various regions with promising growth opportunities
Sugarcane Juice Market – by Category
- Organic
- Conventional
Sugarcane Juice Market – by Packaging Type
- Bottles
- Cans
- Others
Sugarcane Juice Market – by Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Retail
- Others
Company Profiles
- Goya Foods, Inc.
- KGN London
- NutriCana
- Nutricane Beverages Pvt. Ltd.
- Rakyan Beverages
- So’Kanaa
- Numaoy Raimaijon Co.,Ltd.
- Hurrycane
- Mr. Sugarcane
- Muddy Puddle Foods Pvt Ltd.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Category, Packaging Type, and Distribution Channel
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Brazil, Canada, China, France, India, Japan, Netherlands, Saudi Arabia, South Africa, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Some of the prominent players operating in the global sugarcane juice market include Goya Foods, Inc.; KGN London; NutriCana; Nutricane Beverages Pvt. Ltd.; Rakyan Beverages; So’Kanaa; Numaoy Raimaijon Co., Ltd.; Hurrycane; Mr. Sugarcane; and Muddy Puddle Foods Pvt Ltd.
The scope of the sugarcane juice market includes only the organized retail sales of sugarcane juice and does not include the unorganized retail sale i.e. sugarcane juice sold by street side vendors in open glasses.
In 2020, Europe led the global sugarcane juice market owing to the rising demand for 100% natural and organic juices coupled with the presence of robust retail sector.
Based on category, the organic segment is projected to grow at the fastest CAGR owing to growing awareness about the health benefits of organic juices.
Based on distribution channel, the supermarkets and hypermarkets segment held the largest market share owing to high customer traffic in these stores coupled with availability of different brands of sugarcane juice under one roof.
The global sugarcane juice market is primarily driven by the rising hygiene concerns amongst consumers, growing preference for organic food and beverages, and growth of organized retail sector across developing economies.
The List of Companies - Sugarcane Juice Market
- Goya Foods, Inc.
- KGN London
- NutriCana
- Nutricane Beverages Pvt Ltd.
- Rakyan Beverages
- So’Kanaa
- Numaoy Raimaijon Co.,Ltd.
- Hurrycane
- Mr. Sugarcane
- Muddy Puddle Foods Pvt Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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