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The smoothies market size is estimated to increase by USD 709.6 million, at a CAGR of 6.14% between 2023 and 2028. The expansion of the market hinges on various elements, such as the proliferation of smoothie outlets, heightened awareness regarding the health advantages of consuming smoothies, and ongoing urbanization coupled with shifts in consumer lifestyles. However, challenges persist, including the rising competition posed by alternative options, the volatility in prices of fruits and vegetables, and the imposition of strict regulations governing production and sale. With demand on the rise, manufacturers are strategically expanding their global footprint, capitalizing on Generation Y's growing preference for smoothies. This expansion involves the establishment of new stores and outlets across diverse regions, with the aim of broadening consumer reach and meeting the increasing demand for convenient and nutritious beverage options.
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The market share growth by the out of home segment will be significant during the forecast period. They are mostly consumed out of home, mainly owing to the convenience factor and hectic lifestyles, as people have less time to prepare them at home. The major distribution channels for this segment are smoothie bars, restaurants, and other food service chains. Fruit-based products are popular in this segment.
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The out of home segment was valued at USD 1.12 billion in 2018. The increasing number of exclusive smoothie bars and joints worldwide is expected to drive the growth of this segment during the forecast period. Many major companies in this market are penetrating new countries by launching products and opening new smoothie bars and joints based on local tastes and preferences to attract more customers. Therefore, such factors will fuel the growth of the out-of-home consumption segment during the forecast period, which, in turn, will drive the global market during the forecast period.
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APAC is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Western dietary patterns have witnessed a significant shift towards fruit-based smoothies, as part of a global trend prioritizing healthy eating and consumer health consciousness. Fruit and vegetable-infused smoothies have emerged as popular alternatives to high-calorie soft drinks and novel substances. Tropical flavors, including acai bowls and pitaya bowls, have gained traction due to their association with wellbeing and balanced diets. Consumers are increasingly seeking meal replacement and snack options that align with their active lifestyles and fitness goals.
Health benefits, such as weight reduction, body composition improvement, and enhanced fitness composition, are driving the demand for smoothies. Gym trainers often recommend smoothies as a convenient and nutritious choice for individuals aiming to maintain a healthy diet and support their overall wellbeing. As dietary trends continue to evolve, smoothies have become a staple for those seeking to incorporate more fruit, vegetables, and protein into their daily routine. Low-calorie options, sweetened with natural sweeteners like erythritol, cater to those conscious of their calorie intake while still enjoying the taste and health benefits of smoothies. In summary, the smoothie market is gaining popularity due to its association with healthy dietary patterns, convenient meal and snack options, and numerous health benefits. Consumers are increasingly turning to fruit-based smoothies as a way to support their active lifestyles and maintain a balanced diet.
The market is being driven by the growing consumer demand for nutritious and convenient food and beverage options. As people become more health-conscious, there is a rising preference for consuming fruits and vegetables in the form of smoothies, making them a popular choice among mainstream consumers. Cafes and bars, and establishments cater to this demand by offering a variety of smoothie options, including innovative creations like the chia banana boost and detox island green smoothie. Additionally, the wellness movement has fueled the popularity of smoothie bowls and the consumption of smoothies as a part of dietary choices aimed at promoting health and well-being. Moreover, the market is experiencing a trend towards healthier meal options, with smoothies being perceived as a convenient and nutritious alternative to fast food and pre-packaged products.
Increasing number of smoothie outlets is notably driving market growth. The market is experiencing significant expansion, fueled by the increasing preference for fruits, vegetables, supplements, and healthier meal options among Generation Y. This trend is leading cafes and juice bars to broaden their offerings, with an emphasis on pre-packaged products and creative recipes. Tropical Smoothie Cafe, for instance, offers popular items like the Chia Banana Boost, which includes peanut butter, roasted banana, and whole-grain oats, as well as chia seeds and coconut. Smoothie sales in quick-service restaurants (QSRs) have increased due to the wellness movement and healthier lifestyle choices.
Innocent Smoothies, known for their humor and wit, have contributed to the market's growth with their plant-based ingredients, herbs and spices, and dairy products. The market is also witnessing an uptick in the popularity of smoothie bowls, which often include nutritious ingredients like spinach, kale, banana, pineapple, and strawberries. The market caters to various dietary choices, with offerings that range from vegan and vegetarian to gluten-free and lactose-intolerant. The use of plant-based ingredients, nuts, and seeds adds to the market's appeal, as consumers increasingly prioritize their health and well-being. The availability of healthy beverages in cafes, juice bars, and fast food outlets further underscores the market's growth during the forecast period. Thus, such factors are driving the growth of the market during the forecast period.
Product launches is the key trend in the market. The global market for smoothies is experiencing significant growth due to the increasing popularity of fruits, vegetables, and supplements as healthier meal options. Cafes and juice bars are also capitalizing on this trend by offering pre-packaged smoothies and smoothie bowls made with a variety of ingredients, including tropical fruits like mango and pineapple, leafy greens such as spinach and kale, and plant-based ingredients like chia seeds, roasted banana, and whole-grain oats. Fast food chains and quick-service restaurants (QSRs) are also jumping on the bandwagon, offering smoothies as part of their healthier menu options. These smoothies often contain nutrient-rich ingredients like nuts, seeds, herbs, and spices, as well as dairy products and plant-based ingredients.
The use of humor and wit in marketing these products has also contributed to their success, appealing to consumers' dietary choices and lifestyle choices. The smoothie market is expected to continue growing as consumers become more health-conscious and aware of the benefits of incorporating fruits, vegetables, and other nutrient-rich ingredients into their diets. The market is expected to see continued innovation, with new product launches and creative recipes that cater to various dietary needs and preferences. Overall, the smoothie market is an exciting and dynamic space that is sure to continue driving growth in the health and wellness industry. Thus, such trends will shape the growth of the market during the forecast period.
Increasing competition from substitutes is the major challenge that affects the growth of the market. The market is experiencing significant competition from various beverage categories, including fruits and vegetable juices, carbonated beverages, coconut water, bottled water, and energy drinks. Fruits and vegetables are the primary sources of these beverages, offering consumers essential nutrients and a refreshing experience. The market is also challenged by the increasing popularity of coconut water, a natural beverage rich in electrolytes, minerals, and hydrating properties. Smoothies have evolved into healthier meal options, with cafes and juice bars offering a wide range of pre-packaged products and customizable recipes. Fast food chains and quick-service restaurants (QSRs) have also integrated smoothies into their menus, catering to the wellness movement and dietary choices. Tropical Smoothie Cafe, for instance, offers creative recipes featuring Chia Banana Boost, peanut butter, roasted banana, whole-grain oats, chia seeds, and various fruits like coconut, strawberries, mango, spinach, kale, banana, and pineapple.
The health and wellness industry's growing influence has led to the emergence of smoothie bowls, which provide an additional serving of fiber-rich toppings. Humor and wit are often used to market these beverages, appealing to consumers' lifestyle choices and health awareness. Smoothies can be made with plant-based ingredients, herbs and spices, nuts, and dairy products, catering to various dietary preferences and health awareness. Smoothie sales continue to grow as consumers increasingly prioritize their well-being and seek out healthy beverage options. The market's expansion is driven by the increasing popularity of health-conscious diets and the ongoing health awareness movement. Hence, the above factors will impede the growth of the market during the forecast period
The report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Barfresh Food Group Inc.: The company offers smoothies such as Single serve smoothies and Easy pour bulk smoothies. Also, they operates as a food and beverages company specializing in smoothies, shakes, and frappes.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market is thriving due to increasing consumer awareness of health and wellness, leading to a growing demand for nutritious and convenient food and beverage options. Supplements are becoming mainstream, reflecting consumer preferences for healthier meal options. Juice bars and pre-packaged products cater to fast-paced lifestyles. Creative recipes like Chia Banana Boost and Detox Island Green smoothie incorporate plant-based ingredients like chia seeds, kale, and coconut. Brands like Bolthouse Farms and Innocent Smoothies offer a variety of fruit-based smoothies and smoothie bowls, reflecting the wellness movement's influence on dietary choices and lifestyle trends. This trend is further fueled by the popularity of smoothie cartons and tropical flavors, emphasizing health-conscious diets and snack options amidst changing food habits and fitness trends.
Also, the market caters to mainstream consumer preferences for healthier alternatives to fast food, featuring ingredients like peanut butter, roasted banana, whole-grain oats, strawberries, and a blend of five whole vegetables and fruits, including mango, spinach, and pineapple. Humor is infused into smoothie sales strategies, with quick-service restaurants (QSRs) capitalizing on well-being and offering healthy beverages incorporating nuts and dairy products. Lifestyle choices are influenced by health awareness and Western dietary patterns, driving the popularity of acai bowls, pitaya bowls, and creative blends like Be Berry Stings and PB Delight, known for their tropical flavors. Novel substances like erythritol complement the use of fruit and vegetables, promoting a healthy diet amidst consumer health consciousness and changing lifestyles. Gym trainers advocate for smoothies as meal replacements or snacks, emphasizing the importance of a balanced diet and fitness composition rich in carbohydrates, protein, and essential nutrients.
Market Scope |
|
Report Coverage |
Details |
Page number |
169 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.14% |
Market growth 2024-2028 |
USD 709.6 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.41 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
APAC at 33% |
Key countries |
US, China, Germany, India, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Barfresh Food Group Inc., Campbell Soup Co., Crussh, Daily Harvest Inc., Focus Brands LLC, Happy Planet Foods Inc., Jamba Juice Franchisor SPV LLC, KOIA, Mars Inc., Maui Wowi, MTY Food Group Inc., Nestle SA, NOKA Organics LLC, Parle Agro Pvt Ltd., PepsiCo Inc., Robeks Corp., Smoothie King Franchises Inc., The Coca Cola Co., The Hain Celestial Group Inc., The Kraft Heinz Co., The Smoothie Bombs, and Tropical Smoothie Cafe LLC |
Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Consumption Pattern
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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