Smoothies Market Size
The Global Smoothies Market reached USD 11.5 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 22.1 billion by 2031. The market is expected to exhibit a CAGR of 8.5% during the forecast period 2024-2031.
Smoothies are a versatile beverage choice enjoyed globally. Fruit smoothies are refreshing and sweet, packed with vitamins and antioxidants. Vegetable smoothies provide a nutrient-rich option with greens like spinach and kale. Blended beverages, including protein shakes, cater to fitness enthusiasts. With various flavors and health benefits, smoothies remain a popular and convenient choice for a nutritious drink.
The smoothies market is experiencing robust growth driven by rising consumer demand for healthy and convenient beverages. Factors like health consciousness, busy lifestyles, and diverse flavor options contribute to the market's expansion. With a focus on wellness, smoothies are poised for continued growth, offering opportunities for established brands and new players to capture market share.
Market Summary
| Metrics | Details |
| CAGR | 8.5% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | By Type, Consumption, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Rapid Growth of Smoothies Market Fueled by Surging Demand for Premium Smoothie Ingredients and Customizable Options
Smoothie ingredients play a pivotal role in driving the growth of the smoothies market. According to recent smoothies market analysis, the availability of diverse and high-quality smoothie ingredients has resulted in a significant increase in consumer demand. Statistical data reveals that smoothie ingredient sales have witnessed a remarkable growth rate of 25% over the past year, contributing to a substantial expansion in the overall smoothies market share.
Health-conscious consumers seeking nutritious and customizable options are embracing the variety of smoothie ingredients such as fresh fruits, vegetables, protein powders, and superfood additives. This surge in ingredient sales highlights the strong correlation between the quality and variety of smoothie ingredients and the market's expansion, further solidifying their role as a key driver in the smoothies market.
Smoothies Market Hindered by Limited Adoption of Homemade Recipes and Preparation Methods
One key restraint in the smoothies market is the availability of alternative sources for smoothie recipes and preparation methods. While consumers can easily access smoothie recipes and preparation techniques online, adopting these methods remains relatively low. According to the smoothies market analysis, only around 30% of smoothie consumers primarily rely on homemade smoothie recipes and preparation methods.
The majority of consumers, approximately 70%, tend to opt for ready-to-drink or pre-packaged smoothie options due to convenience and time constraints. This indicates a potentially untapped market for promoting homemade smoothie preparation methods and recipes, as a higher percentage of consumers engaging in DIY smoothie creation could contribute to increased market growth and innovation in the sector.
Market Segment Analysis
The Global Smoothies Market is segmented based on type, consumption, and region.
Fruit-Based Smoothies Dominate the Market with Berry, Citrus, and Tropical Flavors Leading Consumer Demand
The Global Smoothies Market is segmented based on type into fruit-based smoothies, and dairy-based smoothies.
As a category, fruit-based smoothies have gained significant popularity in recent years. According to the smoothies market analysis, fruit-based smoothies accounted for a substantial portion of the overall smoothie market, with estimates suggesting that they held 55% of the smoothies market share.
Among the fruit-based subsegments, berry smoothies have shown consistent popularity, comprising a substantial portion of fruit-based smoothie consumption. Citrus smoothies and tropical fruit smoothies have also enjoyed considerable demand, along with Green Smoothies and exotic fruit smoothies. These subsegments collectively contribute to the overall growth of the fruit-based smoothies market. The growth of smoothies market share is driven by their flavors, nutritional benefits, and appeal to health-conscious individuals.
Source: DataM Intelligence Analysis (2023)
Market Geographical Share
North America Smoothies Market Thrives with Growing Demand for Fresh and Frozen Varieties, Customization Options.
By region, the Global Smoothies Market is segmented into North America, Europe, South America, Asia-Pacific, Middle East, and Africa.
North America is the largest market for smoothies, comprising various segments such as fresh smoothies, frozen smoothies, smoothie bases, and smoothie customization. Fresh smoothies hold a significant market share of around 40%, while frozen smoothies account for approximately 30% of the market. The demand for smoothie bases stands at 15%, with consumers opting for convenient and easy-to-prepare options.
Smoothie customization, allowing consumers to personalize their drinks, is also rising. The smoothies market analysis indicates that over 60% of North Americans consume smoothies regularly, with millennials being a key consumer group. Moreover, surveys reveal that 75% of respondents prioritize healthier beverage choices, including smoothies, due to their nutritional benefits. With these trends and consumer preferences, Overall the North America smoothies market trend is positive.
Source: DataM Intelligence Analysis (2023)
Market Companies
The major global players include Jamba Juice, Smoothie King, Innocent Drinks, Naked Juice, Odwalla, Bolthouse Farms, Happy Planet, Suja Juice, Evolution Fresh, and Daily Harvest.
COVID-19 Impact Analysis
The smoothies market experienced a significant impact from the COVID-19 pandemic. During lockdowns and restrictions, many smoothie bars and cafes faced closures or reduced operations, leading to decreased sales. However, consumers' focus on health and wellness led to a growing demand for packaged and ready-to-drink smoothies as convenient and nutritious options. Online delivery and takeout services helped mitigate the decline in sales to some extent, but overall, the market faced challenges due to the pandemic's disruptions to the food service industry.
Key Developments
- On March 30, 2021, Innocent Drinks, a popular smoothie brand in the United Kingdom launched a new Super Smoothies Light range in the UK, which reportedly contains 30% less natural sugar than its original line. Made with 100% fruit, the new line-up comes in berry and tropical flavors.
- On November 10, 2022, Two Good Company, based in the United States. has added three new on-the-go smoothies to its portfolio. The Two Good smoothies have 3g of sugar per 7 fluid-ounce bottle and 10g of protein. To achieve lower sugar, the brand uses ultra-filtered milk that removes most of the naturally occurring sugars from milk. Available in three flavors, Mixed Berry, Strawberry Banana, and Peach.
- On March 24, 2021, PepsiCo's Naked Juice brand launched two new smoothies in the UK, aiming to offer consumers a convenient way to incorporate a variety of fruits into their daily routines. The new products, Naked Rainbow Machine and Naked Berry Lean feature a blend of fruits, vegetables, and essential vitamins like C, E, and B1.
Why Purchase the Report?
- To visualize the global smoothies market segmentation based on type, consumption, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of smoothie’s market-level with all segments.
- The PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The Global Smoothies Market Report Would Provide Approximately 53 Tables, 45 Figures And 195 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
