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Global Smoothies Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report – Segmented By Product (Fruit-based, Dairy-based and Others), Distribution Channel (Restaurants, Smoothie Bars, Supermarkets And Convenience Stores) and Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Industry Analysis (2024 to 2029)

Published: March, 2023
ID: 5514
Pages: 175
Formats: report pdf report excel report power bi report ppt

Global Smoothies Market Size (2024 to 2029)

The size of the global smoothies market was worth USD 14.67 billion in 2023. Between 2024 to 2029, the global smoothies market is anticipated to grow at a CAGR of 10.1% and reach USD 26.13 bn by 2029 from USD 16.15 bn in 2024.

Smoothie is a thick non-alcoholic 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 region leads the global market due to the high demand for healthy non-alcoholic drinks in this region. Asia Pacific 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.

Global Smoothies Market Drivers:

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. 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 the 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.

Global Smoothies Market Restraints:

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.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

CAGR

10.1%

Segments Covered

By Product, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

Market Leaders Profiled

PepsiCo, Inc, Smoothie King, Maui Wowi Hawaiian Coffees & Smoothies, Suja Juice, Innocent Drinks, Bolthouse Farms, Jamba Juice Company, Ella’s Kitchen Ltd, Barfresh Food Group and Tropical Smoothie Cafe.

 

This research report on the global smoothies market has been segmented and sub-segmented based on product, distribution channel and region.

Global Smoothies Market – By Product:

  • Fruit-based
  • Dairy-based

Based on product, the fruit-based segment is estimated to hold the largest share of the global market in 2023 and is expected to be the fastest-growing segment during the forecast period. The domination of the fruit-based segment is attributed to the growing demand for healthy beverages. Fruit-based smoothies are further segmented into organic and inorganic smoothies. Organic smoothies are expected to be the fastest-growing segment as the demand for organic fruits and vegetables is increasing.

On the other hand, the dairy-based segment is expected to account for a substantial share of the global market during the forecast period.

Global Smoothies Market – By Distribution Channel:

  • Restaurants
  • Smoothie Bars
  • Supermarkets
  • Convenience Stores
  • Smoothie Bars

Global Smoothies Market – By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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.

KEY MARKET PLAYERS:

PepsiCo, Inc., Smoothie King, Maui Wowi Hawaiian Coffees & Smoothies, Suja Juice, Innocent Drinks, Bolthouse Farms, Jamba Juice Company, Ella’s Kitchen Ltd, Barfresh Food Group and Tropical Smoothie Cafe are a few of the major players in the global smoothies market.

RECENT HAPPENINGS IN THE MARKET:

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

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FAQ's

What Can Be the Size of the Smoothies Market By 2027?

The Smoothies Market Can be Predicted Reach a Valuation of USD 17 billion by 2027.

What Can Be The Compound Annual Growth Rate Of The Smoothies Market ?

Smoothies Market Can Expand With A CAGR 10.1 % in a given Forecast Period.

Mention The Major Key Players In Smoothies Market ?

PepsiCo, Inc, Smoothie King, Maui Wowi Hawaiian Coffees & Smoothies, Suja Juice, Innocent Drinks, Bolthouse Farms, Jamba Juice Company, Ella’s Kitchen Ltd, Barfresh Food Group, Tropical Smoothie Cafe and Others.

Mention the region which has the largest share in the Smoothies Market ?

North America region is expected have the largest market share of the global Smoothies Market.

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