Adds analyst comments in paragraphs 9-10

By Pragyan Kalita

May 7 (Reuters) - Organic juice maker Suja Life's SUJA.O shares fell 14.3% in their Nasdaq debut on Thursday, valuing the company backed by private equity firm Paine Schwartz at $695.3 million.

The Oceanside, California-based company's stock opened at $18, below the $21 offer price. It had sold 8.9 million shares in its initial public offering at the lower end of its marketed range of $21 to $24 apiece, raising $186.7 million.

The IPO market has opened up after a brief quiet period in March but investors remain selective about allocating capital.

The firm offers cold-pressed juices, wellness shots and functional sodas. It owns a portfolio of brands including Suja Organic, Vive Organic and Slice Soda, which are made with organic, non-GMO and plant-based ingredients.

Health-conscious consumers are increasingly trading sugary drinks for better-for-you alternatives, creating a more favorable backdrop for brands positioned around wellness.

Last year, PepsiCo PEP.O inked an agreement to buy prebiotic soda brand Poppi for $1.95 billion.

Suja's debut marks the second IPO in the organic and health-focused consumer space this year, after children's food brand Once Upon a Farm OFRM.N went public in February.

Consumer IPOs have shown signs of revival after a sluggish 2025 following U.S. President Donald Trump's sweeping tariffs that dampened activity.

"I do think investors are increasingly willing to support consumer IPOs again, but aftermarket performance remains highly tied to company-specific news and earnings," ⁠said IPOX Vice President Kat Liu.

"The days of rewarding consumer growth stories without clear earnings visibility appear largely over."

Back in 2015, Suja Life sold minority stakes to Goldman Sachs' merchant banking division and to Coca-Cola KO.N, which included an option to buy Suja after three years.

In 2021, private equity firm Paine Schwartz Partners - which is focused on sustainable food chain investing - acquired Suja Life from Goldman Sachs Asset Management and co-investors.