Smoothies Market Price, Growth, Industry Analysis, Outlook, and Forecast Report

Market Overview:

The global smoothies market size reached US$ 15.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 21.1 Billion by 2028, exhibiting a growth rate (CAGR) of 4.7% during 2023-2028. The growing demand for on-the-go-meal options, wide availability in various flavors, and rising demand for organic and culinary herbal beverages represent some of the key factors driving the market.

Increasing Health Consciousness Among Consumers Augmenting Market Growth

Consumers are actively interested in consuming healthier foods and beverages to prevent digestive health disorders. They are also increasing their intake of vitamins, proteins, and active digestive health ingredients, such as prebiotics and probiotics, and are consuming more functional foods and drinks. In addition, the growing awareness about preventive health among the masses is catalyzing the demand for smoothies. Apart from this, the increasing consumption of smoothies, as it aids in enhancing skin health, boosting immunity, and improving energy levels, is propelling the growth of the market.  

Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is fragmented with a large number of players operating in the industry. The volume of new entrants is high in the smoothies industry due to the moderate market growth, low product differentiation and switching costs, and easy access to various distribution channels.

What are Smoothies?

Smoothie is a thick beverage manufactured from pulped raw fruit or vegetables, typically using a blender. It is also produced using crushed ice, honey, sugar, stevia, syrup, whey powder, nuts, nut butter, seeds, tea, chocolate, herbal supplements, or nutritional supplements. It can be prepared by integrating green leafy vegetables, such as lettuce, kale, collard greens, and spinach, to improve the immune system, lessen undesirable cravings, and enhance digestion. It has a liquid base, such as water, fruit juice, plant milk, milk, yogurt, ice cream, or cottage cheese. It includes large or multiple servings of fruits and vegetables, which are recommended in a healthy diet and intended to be a meal replacement. It assists in losing weight by dissolving body fat and clearing up the circulatory system. It also aids in increasing fiber intake and preventing the risk of type II diabetes and heart disease.

Smoothies Market Trends:

At present, the rising awareness among the masses about the benefits of consuming healthy food products represents one of the key factors supporting the growth of the market. Besides this, there is an increase in the demand for on-the-go-meal options due to hectic lifestyles and the long working hours of individuals across the globe. This, along with the thriving food and beverage (F&B) industry, is propelling the growth of the market. Moreover, key manufacturers are introducing gluten-free smoothies to manage signs and symptoms of celiac disease and other medical conditions associated with gluten. These manufacturers are also focusing on more innovative products to enhance their sales, which is contributing to the growth of the market. In addition, the growing preference for healthy and protein-enriched snacks and meals over carbohydrate-laden food products is positively influencing the market. Apart from this, the increasing demand for smoothies, as they are rich in fiber and nutrients, is offering lucrative growth opportunities to industry investors. In line with this, the wide availability of smoothies in various flavors, such as apple, strawberry, strawberry banana, beetroot and berries, blueberry banana, and mango tropics, is strengthening the growth of the market. Additionally, the growing demand for organic and culinary herbal smoothies, such as cayenne, rosemary, basil, turmeric, fennel, and cilantro, is offering a favorable market outlook.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global smoothies market report, along with forecasts at the global and regional level from 2023-2028 Our report has categorized the market based on product, distribution channel, packaging material and consumption pattern.

Product Insights:

• Dairy-Based 
• Fruit-Based
   

The report has provided a detailed breakup and analysis of the smoothies market based on the product. This includes dairy-based and fruit-based. According to the report, fruit-based represented the largest segment as fruit-based smoothies are popular among health-conscious consumers across the world. They are fibrous, rich in vitamins and nutrients, and are considered an excellent source of antioxidants. Moreover, the enzymes present in several fruits help dissolve body fat and clear up the circulatory system.

Distribution Channel Insights:

• Restaurants and Smoothie Bars
• Supermarkets and Hypermarkets
• Convenience Stores
• Others
   

A detailed breakup and analysis of the smoothies market based on the distribution channel has also been provided in the report. This includes restaurants and smoothie bars, supermarkets and hypermarkets, convenience stores, and others. According to the report, restaurants and smoothie bars accounted for the largest market share as they offer a combination of health food bowls, juices, and blended fruit drinks. In addition, the growing cafe, restaurant, and bar culture among the millennials is positively influencing the market.

Packaging Material Insights:

• Plastic
• Paper
• Glass
• Others
   

A detailed breakup and analysis of the smoothies market based on the packaging material has also been provided in the report. This includes plastic, paper, glass, and others. According to the report, plastic accounted for the largest market share as smoothies are packaged in plastic bottles or pouches to allow the customers to take smoothies on-the-go or pack them in lunches with ease. Moreover, plastic bottles help showcase brightly colored fruit beverages and provide safe and effective packaging.

Consumption Pattern Insights:

• Out of Home
• At Home
   

A detailed breakup and analysis of the smoothies market based on the consumption pattern has also been provided in the report. This includes out of home and at home. According to the report, at home accounted for the largest market share as people prefer adding smoothies to their breakfast meal due to their high nutrition and fiber. Apart from this, the growing adoption of a healthy lifestyle among the masses on account of the surging prevalence of chronic and lifestyle diseases is increasing the consumption of smoothies at home. Some of the other growth-inducing factors are the introduction of functional ingredients, rising disposable income, and rapid urbanization.

Regional Insights:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. According to the report, North America was the largest market for smoothies. Other factors driving the North America smoothies market included the hectic lifestyle and changing food habits of individuals, rising consumption on account of easy availability. Moreover, key players are adding natural ingredients, such as plant sterols, probiotics, and fibers in smoothies to increase nutritional content and their overall sales.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global smoothies market. Some of the companies covered in the report include:

• 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 Cafe
   

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the smoothies market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global smoothies market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the smoothies industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.