SEOUL, March 29 (Korea Bizwire) – As the demand for fresh, healthy juice products is rising, new products are flooding into the market.
According to the market research company LinkAztec, the Korean ‘squeezed juice’ market grew 30 percent from 21 billion won in 2013 to 27.5 billion won last year.
To meet consumer demand for freshly-squeezed juice, which contains less sugar and artificial additives, a number of companies in the food and beverage industry are launching various types of new juices.
Pulmuone’s ‘I’m Real’, which was first introduced in 2007, has the largest share of the market. After the company’s freshly-squeezed juices were a success (orange, grapefruit and pineapple flavors), they launched additional flavors (strawberry, kiwi and berry). Vegetable juice products (tomato, kale & kiwi, and beets & carrots), yogurt (blueberry, apple mango and plain) and smoothies (mango, peach and strawberry flavors) followed afterwards.
Woongjin Foods is selling pure orange and grape juices made without the addition of water or sugar. Officials explained that 10 Valencia oranges and five bunches of grapes are needed to produce one liter of the company’s juice.
Lotte Chilsung plans to enter the market with its ‘Delmont Farmer’s Juice Bar’ products next month. Currently, the new juices have been pre-launched at Emart and Lotte Mart.
Industry watchers comment that the recent awareness of sugar content in processed beverages has played a part in the changing market. Consumer demand for more natural juices is pushing the industry to launch premium products that should take the lead in the market.
By Francine Jung (firstname.lastname@example.org)