USD 7.30 billion
Smoothies Market Size, Share, Growth Analysis, By Product(Fruit-based, Dairy-based and Others), By Distribution Channel(Restaurants, Smoothie Bars, Supermarkets & Convenience Stores), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30H2069 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
62
|Figures:
75
Smoothies Market Insights
Global Smoothies Market size was valued at around USD 7.30 billion in 2022 and is poised to grow from USD 7.98 billion in 2023 to USD 16.25 Billion by 2031, at a CAGR of 9.3% over the forecast period (2024–2031).
The rising popularity of healthy drinks in developing nations like China and India is to blame for this. In addition, it is anticipated that the market will expand over the forecast period due to increasing consumer demand for fruit-based smoothies and rising awareness of the benefits of living a healthier lifestyle. Due to the rising demand for dairy-based products, the COVID-19 pandemic has seen a slight rise in the demand for consumer goods and beverages. In order to meet the demand for wholesome ingredients, protein- and fruit-based beverages acquired popularity during the COVID-19 era.
The primary factors influencing market expansion are the rising appeal of dairy-based smoothies to satisfy the demand for vital proteins and vitamins. Additionally, it is anticipated that the growing demand for beverages with a high dietary fiber content in developed nations will support company expansion. The industry will have opportunities in the future due to the rising demand for inexpensive non-alcoholic beverages. Adopting a cold storage system, however, will increase smoothies' shelf life and require more maintenance, which will restrain market development.
Furthermore, to attract a sizable customer base, the competitors in the organic beverage market are acquiring products for fat-free smoothies. As a result, during the assessment period, the market is anticipated to demonstrate significant gains. Additionally, the substantial expansion of the food and beverage sector in developing nations like China, India, and others is anticipated to offer a wealth of opportunities for market expansion during the forecast period.
The industry is expected to be driven by the rising investment by well-known players with U.S. bases. The main players supply the smoothies without sugar, which are highly recommended in the gym to lose weight. The development of the industry is being driven by consumers in North America's rising demand for smoothies with healthy and energizing fruit flavors.
The global demand for smoothies is being driven by the rising trend of health awareness and the rising demand for high-nutrition beverage products among young people and millennials. On the other hand, new possibilities for the smoothie industry will arise as consumers become more concerned about their health as a result of the rise in chronic conditions like high blood pressure and heart disease.
US Smoothies Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024–2031
Global Market Size
Largest Segment
Fruit-based
Fastest Growth
Dairy-based
Growth Rate
9.3% CAGR
Global Smoothies Market ($ Bn)
Country Share for North America Region (%)
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Smoothies Market Segmental Analysis
Global Smoothies Market is segmented based Product, Distribution Channel and region. Based on Product the market is segmented Fruit-based, Dairy-based and Others. Based on Distribution Channel the Smoothies Market is segmented into Restaurants, Smoothie Bars, Supermarkets & Convenience Stores. Based on region the global Smoothies Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Smoothies Market Analysis by Product
The worldwide smoothie market is divided into fruit-based, dairy-based, and other segments based on the product. The fruit-based category out of these had the largest share—more than 50%—in 2021. Due to increasing investment in the food and beverage industry in the coming years, the demand for organic smoothies with fruit as the main ingredient is anticipated to rise. The demand for vitamins is increasing, and there is a need to curb sugar cravings, which will boost sales of fruit-based goods during the forecast period.
The segment based on dairy products will experience the greatest CAGR during the forecast period, at 9.6%. The increase in demand for dairy-based products like caramel, macchiato, and the gladiator coffee flavor to satisfy the demand for proteins is attributed with the segment's growth. Smoothies made with dairy products are low-fat foods that help the body cleanse. As a result, the segment is anticipated to expand over the course of the forecast period.
Smoothies Market Analysis by Distribution Channel
The supermarkets and convenience stores among these were responsible for more than 45% of the smoothie’s market's worldwide revenue in 2021. This development is ascribed to the control of the cold chain and the accessibility of numerous product ranges at reasonable prices. Due to its lengthy history and widespread availability worldwide, the supermarkets & convenience stores segment has a larger market share.
Global Smoothies Market By Product
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Smoothies Market Regional Insights
North America held a market share of more than 35% of the global smoothie market in 2021 as a result of growing demand in the United States, Canada, and Mexico. Due to the growing use of smoothies to maintain body metabolism, the business is growing. The area market is growing as a result of increased R&D efforts to acquire cutting-edge organic beverages. To encourage people to live healthy lifestyles, the main businesses with American roots provide smoothies at lower costs.
Asia Pacific is projected to grow at a CAGR of 10.1%. This can be explained by the region's growing desire for organic soft drinks. The market is growing as people in China and India become more conscious of the value of keeping sustainable health. Furthermore, it is anticipated that the business will expand during the forecast period as a result of the product's expanding use in the treatment of conditions like diabetes. The region is anticipated to grow rapidly, largely as a result of increased product awareness in countries like India, China, Japan, South Korea, and others. The increasing level of discretionary income and changing lifestyles in the region are both major drivers of the demand for processed foods.
Global Smoothies Market By Region
- Largest
- Fastest
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Smoothies Market Dynamics
Smoothies Market Drivers
Health and wellness Trends to Bolster Market Growth
- More people are looking for healthy food options, and smoothies are seen as a convenient way to get essential nutrients.
- Smoothies are easy to make and can be consumed on the go, making them a popular choice for busy consumers.
Smoothies Market Restraints
Price Volatility to Hinder Market Growth
- Smoothies can be relatively expensive compared to other drinks and food options, which may limit their appeal to price-sensitive consumers.
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Smoothies Market Competitive Landscape
To satisfy the growing demand for smoothies, businesses are primarily focused on developing new beverages. However, putting sustainability into practice has particular difficulties and constraints. Many businesses are focusing on the market growth and introduction of sugar-free products. In order to use HungerRush's OrderAI technology, Smoothie King partnered with it in February 2022. The primary goal of the collaboration was to show that it was prepared to spend money on new technology in order to increase sales and profitability for its franchisees.
Smoothies Market Top Player’s Company Profiles
- Smoothie King
- Tropical Smoothie Cafe
- Innocent Drinks
- Odwalla
- Naked Juice
- Happy Planet
- Bolthouse Farms
- Suja Juice
- Planet Smoothie
- Red Mango
- Clean Juice
- Revive Superfoods
- Daily Harvest
- Green Blender
- Sambazon
- Frulatte
- Ceres Juices
Smoothies Market Recent Developments
- In March 2024, Smoothie King, inventors of the ‘smoothie’ and the world’s largest smoothie brand, launched its own version of an influencer smoothie, the Air-Wan Smoothie.
- In March 2024, Paramount’s “SpongeBob SquarePants” and Big Easy Blends collaborated to introduce SpongeBob’s Real Fruit Puree Kids Frozen Smoothies.
- In March 2024, SAMBAZON announced that it has purchased SunOpta’s frozen Açaí and smoothie bowl business, expanding SAMBAZON’s manufacturing capabilities in the U.S.
Smoothies Key Market Trends
- As more consumers adopt plant-based and vegan diets, there is growing demand for smoothies made with non-dairy milk, vegan protein sources, and plant-based ingredients.
- Consumers are increasingly interested in smoothies that offer specific health benefits, such as boosting immunity, improving digestion, or reducing inflammation. Companies are responding by adding functional ingredients like turmeric, ginger, and adaptogens to their smoothies.
- Many consumers want to customize their smoothies to suit their individual tastes and nutritional needs. Companies are offering more options for customization, such as allowing customers to choose their own ingredients or add-ons.
- The smoothie market is expanding into new geographies, particularly in Asia and Africa, where there is growing demand for healthy and convenient food options.
Smoothies Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Smoothies market is the rising popularity of healthy drinks in developing nations like China and India is to blame for this. In addition, it is anticipated that the market will expand over the forecast period due to increasing consumer demand for fruit-based smoothies and rising awareness of the benefits of living a healthier lifestyle. The global demand for smoothies is being driven by the rising trend of health awareness and the rising demand for high-nutrition beverage products among young people and millennials. On the other hand, new possibilities for the smoothie industry will arise as consumers become more concerned about their health as a result of the rise in chronic conditions like high blood pressure and heart disease.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7.30 billion |
| Market size value in 2031 | USD 16.25 Billion |
| Growth Rate | 9.3% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Smoothies Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Smoothies Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Smoothies Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Smoothies Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Smoothies Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Smoothies Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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