Squash Drinks Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Squash Drinks Market  is Segmented By Source (Strawberry, Orange, Lemon, Raspberry, Mango, Grape, Ginger, Blackcurrant, Pineapple, Mixed Fruit, Others), By Product Type (Organic, Conventional), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031 

Squash Drinks Market Overview

The Global Squash Drinks Market USD 890 million in 2022 and is projected to witness lucrative growth by reaching up to USD 1,266 million by 2030. The market is growing at a CAGR of 4.5% during the forecast period (2024-2031). Squash is a non-alcoholic concentrated syrup fruit-flavored made from fruit juice, water, sugar, and sugar substitute.

Generally, squash is produced with sugar or sugar substitutes, but now companies are producing sugar-free squash for diabetic patients and the health-savvy population. Squash is also known as diluting juice and cordial. 

Squash drink is made by mixing the squash with the proper amount of carbonated water or water. Squash drinks such as lemon and orange are commonly used in producing beverages such as cocktails and mocktails.

Squash Drinks Market Scope and Summary

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Squash Drinks Market Dynamics and Trends

The Rising Trend of Non-alcohol Beverages is Spurring the Growth of the Squash Drinks Market

Non-alcoholic and non-carbonated beverages are on the rise across the globe. These categories are gaining promising traction from consumers of all age groups owing to claims such as a healthier lifestyle and added nutrition. Squashes evolved as a preferred choice of beverage for health-savvy beverage lovers that are aiming at plant-based, low-sugar drinks without compromising on taste and drinking experience. According to Forbes Magazine, non-alcoholic products grew by 9% in 2022, as more people opt to avoid alcohol on certain occasions.  

The High Sugar Content in the Products is Acting as a Hindrance to Market Growth.

Squash usually has a large content of added sugars and is considered a non-healthy drink for some sections of the population. The National Health Service in the U.K. labeled squash drinks along with flavored waters and fizzy drinks for their high sugar content and recommended children avoid consumption. According to a report by Euromonitor International, the global sugar intake has declined by 5% from 2010 to 2015, driven by increasing health concerns among consumers.

Squash Drinks Market Segment Analysis

The global squash drinks market is segmented based on source, product type, and region.

Citrus-derived Drinks are Leading the Way in the Global Squash Industry

Squash drinks are derived from a broad spectrum of fruits including oranges, lemons, strawberries, raspberries, blackcurrant, grapes and mango among others. Citrus fruits make up the largest source of the squash drinks market by sales revenue. Citrus fruits are considered a rich source of vitamins and minerals that are beneficial to human health. 

Oranges contain vitamins A, C and minerals such as potassium and magnesium. Vitamin C is considered a vital nutrient in boosting the immune system, thus the consumption of citrus squash will pose a beneficial impact on immune health.

Source: DataM Intelligence Analysis (2023)

Squash Drinks Market Geographical Penetration

Asia Pacific is Estimated to Grow at a Faster Rate During the Forecast Period

Asia Pacific region evolved as the fastest growing market for squash drinks owing to the increasing drinking age population, a large base of alcohol consumers and a rapid shift of consumer preferences towards non-carbonated drinks. All these factors as a set are boosting the growth of the regional market, particularly in countries such as India, Vietnam and China. The interest in a healthy lifestyle and awareness of the health benefits of squash drinks are promoting the market growth.

Source: DataM Intelligence Analysis (2023)

Squash Drinks Companies and Competitive Landscape

The major global players include Suntory Holdings Limited, Unilever PLC, The Coca-Cola Company, Britvic plc, Nichols Plc, Mapro Garden LLP., Hamdard, Princes Group UK, Rocks Drinks and Tovali Limited. 

COVID-19 Impact on Squash Drinks Market

COVID Impact

The outbreak of the novel coronavirus emphasized the importance of healthcare among people of all ages, geographies and ethnicities. The role of the immune system, the need for its support and the need for functional foods that enhance immunity were all bolstered in the year 2020. 

Consumers have long been shifting towards healthy, plant-based foods and beverages and the pandemic spurred this trend further. The sales of squash drinks witnessed a sudden spike in the year owing to increased consumption and the addition of new customers to the market. 

AI Impact 

Artificial Intelligence (AI) is becoming increasingly prevalent in various industries, including the food and beverage industry. While there is no direct impact of AI on the squash drinks market, there are several ways in which AI is influencing the industry, which could potentially have an impact on the squash drinks market in the future. One way AI is impacting the food and beverage industry is by using predictive analytics to forecast consumer demand and optimize production processes.

Key Developments

• In February 2023, Swizzels, a confectionery company based in the UK collaborated with Princes, a UK-based food and drinks company to launch a confectionery-flavored squash range. 
• In August 2022, Yerbaé, the plant-based energy brand and category disruptor, launched America's favorite Fall beverage, the Pumpkin Spice Latte (PSL).

Why Purchase the Report?

• To visualize the global squash drinks market segmentation based on source and product type and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous squash drinks market-level data points all for segments.
• 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 Squash Drinks Market Report Would Provide Approximately 53 Tables, 49 Figures and 102 Pages.

Target Audience 2024

• Manufacturers / Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies