Smoothies Market

Smoothies Market Size, Share, Growth (2022-2027)

Smoothies Market Size was calculated at USD 12.10 billion in 2021 to USD 17.00 billion by 2027 with a CAGR of 10.1% given forecast period of 2022 - 2027.

Smoothies Market Overview

Smoothie is a thick nonalcoholic beverage made from raw vegetables or fruits along with some other ingredients. Other ingredients used in smoothies include water, ice, sweeteners, chocolate, nuts, dairy products such as milk and yogurt, and other nutritional supplements. North American smoothies market leads the global market due to the high demand for healthy non-alcoholic drinks in this region. Asia Pacific smoothies market is estimated to be a speedy-growing market with a CAGR of over 9% due to the growing number of people with disposable incomes and changing food habits.

Recent Developments in Smoothies Industry:

1. Focus Brands (FBI) completed the acquisition of the Jamba Juice smoothie chain in a transaction valued at approximately $ 200 million. Pursuant to the terms of the agreement, an FBI subsidiary has launched a takeover bid for all outstanding common shares of Jamba at a price of $ 13 per share in cash. 

2. Coca-Cola took over Innocent after the young founders of the ethical smoothie maker decided to sell their remaining shares, for the staggering £ 100 million, according to reports. The soft drink empire, which already owned 58% of Innocent, took bets from founders Richard Reed, Adam Balon, and John Wright in a deal that gives Coca Cola at least 90% ownership and values Innocent at £ 320 million regions.

3. The smoothie brand, which will rub elbows with the Tropicana and Copella juice brands, will be a key element in PepsiCo's effort to increase revenue in its juice division and counter government criticism that its products, such as Walkers potato chips contribute to obesity. PepsiCo will also use the PJ brand to strengthen its ties to McDonald's.

4. the Fazer Group acquires the leading Nordic shake brand Froosh, which is a leading smoothie brand in Finland and Sweden and the second famous brand in Denmark and Norway. By acquiring Froosh, Fazer will enter a new category and expand its presence in the retail industry.

5. Peak Foods LLC, a manufacturer of frozen whipped toppings for the food and retail markets, acquired Blendtopia, a Nashville-based startup that offers high-quality, nutrient-rich superfood shakes in select retail locations and online. Blendtopia founder Tiffany Taylor will join the Peak Foods team and coordinate sales, marketing, and product development for the smoothie line.

6. Kellogg's venture capital fund is seeking "next-generation innovation," which increases its access to new ideas and trends, an approach that is becoming more common among the world's largest food companies. Unilever and Tate & Lyle have implemented venture capital weapons, while other companies have chosen the acquisition path, buying innovative startups that exploit the latest consumer trends. Hershey acquired Krave without uneven nitrite in 2015, and General Mills took over natural and organic specialist Annie a year earlier.

REPORT COVERAGE:

Smoothies Market  Drivers and Restraints:

An increasing number of health-conscious people, changing lifestyles and food habits, and health benefits associated with smoothies are some of the major factors driving the smoothies market. Increasing popularity for meal replacement food and beverages, growing prominence for juice and smoothie bars, and increasing demand for non-carbonated soft drinks are also expected to propel the smoothies market.

Smoothies that include a large serving of fruits and vegetables are recommended for a healthy diet. However, the use of too many sweeteners, protein powders, and ice creams is not healthy. Smoothies consist of high dietary fiber content making them healthier than fruit juices. Green smoothies made from healthy vegetables are gaining prominence, especially in health-conscious people. Smoothies with increased carbohydrate content by using sugar additives can themselves replace a meal.  High prices of smoothies and packaging problems as they are made from raw ingredients are the major factors restraining the growth of the smoothies market.With the growing trend for green smoothies, there is a rise in demand for smoothies incorporated with green leafy vegetables, such as kale, spinach, lettuce, and green cabbage leaves, to improve digestion and the immune system, and minimize unhealthy cravings. Additionally, due to rising health care costs, consumers are inclined to use smoothies as one of breakfasts as well as snacks to stay healthy. Increased consumer awareness of the benefits associated with the product is also spurring market growth. The growing demand for functional foods and beverages is also driving the growth of smoothies. In addition, continued product launches in this area are expected to stimulate the smoothie market for years to come. Also, the strategic initiatives undertaken by the main market players will accelerate the growth of the market. Additionally, increasing consumer awareness of health and changes in lifestyle and eating habits, as well as health benefits, are driving growth in the global smoothie market. Carbohydrate intake, especially when smoothies are made without sugar, is low. So most gym coaches recommend shakes for people who are considering losing weight. Thus, smoothies have become perfect meal replacements. Plus, they're healthier than other snack products and offer good taste, convenience, and portability.

Detailed Segmentation of the Smoothies Industry:

Based on Product:

1. Fruit-based smoothies

2. Dairy-based Smoothies.

Fruit-based smoothies hold the largest market share and are also expected to be the fastest-growing segment. This is attributed to the growing demand for healthy beverages. Fruit-based smoothies are further segmented into organic and inorganic smoothies.

Inorganic smoothies are expected to be the largest segment as most of the fruits and vegetables produced from farms are inorganic. Organic smoothies are expected to be the fastest-growing segment as the demand for organic fruits and vegetables is increasing.

Smoothies Industry – By Distribution Channel

1. Restaurants

2. Smoothie bars

3. Supermarkets

4. Convenience Stores

5. Smoothie bars

North America dominates the Smoothies Market:

North America dominates the smoothie market due to the high demand for healthy nonalcoholic beverages in this region. Asia Pacific is expected to be the fastest-growing market with a CAGR of over 9% due to the increasing number of people with disposable incomes and changing food habits.

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Geographical Segmentation Analysis:

• North America - the United States and Canada

• Europe - United Kingdom, Spain, Germany, Italy, and France

• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia

• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM

• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Key Players in the Market:

Major Key Players in the Global Smoothies Market are

1. PepsiCo, Inc

2. Smoothie King

3. Maui Wowi Hawaiian Coffees & Smoothies

4. Suja Juice

5. Innocent Drinks

6. Bolthouse Farms

7. Jamba Juice Company

8. Ella’s Kitchen Ltd

9. Barfresh Food Group

10. Inc and Tropical Smoothie Cafe