According to the latest report by IMARC Group, titled " Smoothies Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global smoothies market reached a value of US$ 14.9 Billion in 2021. Smoothies refer to a creamy, thick, milk-based beverage that is prepared from a combination of raw fruits, vegetables, and various other components, including ice cream, yogurt, and nuts. They are rich in fibers, minerals, proteins, and vitamins, which further assist in detoxifying the body, enhancing the immune system, minimizing unhealthy food cravings, improving skin texture, preventing dehydration, and maintaining a healthy body. Apart from this, smoothies exhibit antioxidant characteristics that aid in neutralizing unstable radicals and mitigating the risk of several diseases. On account of these properties, smoothies are extensively consumed as a refreshing beverage by consumers to fulfil their nutritional requirements. At present, they are mainly available in fresh and frozen forms.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Smoothies Market Trends:
The global smoothies market is primarily driven by the increasing prevalence of various lifestyle and chronic diseases, especially amongst the growing geriatric population. In line with this, the rising health consciousness has further facilitated the shifting consumer inclination toward healthier, ready-to-drink (RTD) beverages, such as smoothies, which is acting as another growth-industry factor. This, along with the widespread adoption of a healthy lifestyle to achieve individual nutritional and weight goals are propelling the market growth. Additionally, the emerging trend of green smoothies, which are prepared by incorporating several green leafy vegetables, including spinach, lettuce and collard greens, is contributing to the market growth. The benefits associated with the consumption of green smoothies include improved physical strength and endurance, reduced bad cholesterol levels, optimized metabolism, and enhanced skin texture. Moreover, continuous research and development (R&D) activities and strategic collaborations amongst key players have resulted in the introduction of smoothie in multiple, innovative flavors catering to diverse taste preferences, which is propelling the market growth. Other factors, such as the easy product availability across several distribution channels, rising consumer expenditure capacities, rapid modernization, and evolving lifestyles and dietary habits owing to hectic schedules, are creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 20.3 Billion by 2027, growing at a CAGR of 5.0%% during 2022-2027.
- Based on the product, the market has been bifurcated into dairy- and fruit-based.
- On the basis of the distribution channel, the market has been segmented into restaurants and smoothie bars, supermarkets and hypermarkets, convenience stores, and others.
- Based on the packaging material, the market has been segregated into plastic, paper, glass, and others.
- On the basis of the consumption pattern, the market has been bifurcated into out of home and at home.
- Based on region, the market has been categorized into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), Middle East and Africa.
- The competitive landscape of the industry has also been examined, along with the profiles of the key players being Smoothie King, Maui Wowi Hawaiian Coffees & Smoothies, Suja Juice, Innocent Drinks, Bolthouse Farms, Jamba Juice Company, Ella’s Kitchen Ltd, Barfresh Food Group, Inc, Tropical Smoothie Café, etc.
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