Smoothies Market

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. 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 healthcare costs, consumers are inclined to use smoothies as one breakfast as well as snacks to stay healthy.

Current Scenario of the Global Smoothies Market

The demand for smoothies is consistently growing in several countries due to the rising trend of consuming healthier and convenient beverages by people. Smoothies are convenient drinks and yet contain high nutritional value. People who are health conscious are increasingly consuming smoothies and using smoothies as a meal replacement option. The usage of smoothies is comparatively high in countries such as United States, Canada, Australia, the United Kingdom and Brazil.

MARKET DRIVERS

The growing awareness of health benefits among people with the consumption of smoothies is majorly propelling the global smoothies market growth.

Smoothies have emerged as a popular choice among health-conscious consumers to fulfill their nutritional needs in a convenient and delicious form. Fitness enthusiasts and busy working professionals have been using smoothies as a meal replacement sometimes. Understanding the needs and preferences of consumers, the smoothie bars, juice shops and cafes are introducing made-to-order or pre-packaged smoothies, which are contributing to the improved accessibility and visibility of these products. The demand and consumption of smoothies are growing rapidly among millennials and Generation Z consumers as these are prioritizing health and wellness in their purchasing decisions.

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. 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.

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. Seasonal availability of some of the fresh fruits and vegetables, increasing competition from other beverage categories and limited consumer awareness of smoothie benefits are further hindering the growth of the global market.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Smoothies Market Analysis By Product

The fruit-based segment captured 64.9% of the worldwide smoothie market share 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. The health benefits, natural flavors, and refreshing taste of fruit-based smoothies are primarily responsible for the prominent position of the fruit-based segment in the global market. The availability of a wide variety of fruit-based smoothies, including tropical and seasonal options, is further boosting the segmental expansion. Organic smoothies are expected to be the fastest-growing as the demand for organic fruits and vegetables is increasing. The growing popularity of clean eating and plant-based diets is also supporting the growth of the fruit-based smoothies segment.

On the other hand, the dairy-based segment is expected to account for a substantial share of the global market during the forecast period. Dairy-based smoothies are popular for their creamy texture, added protein, and satisfying taste profile. The rising popularity of high-protein diets and the inclusion of dairy-based smoothies in meal replacement plans are majorly propelling the growth of the dairy-based smoothies segment in the global market.

Global Smoothies Market Analysis By Distribution Channel

The restaurant segment captured 32.9% of the global market share in 2023 and emerged as the leading performer in the global market based on the distribution channel. The convenience offered by restaurants in serving freshly made smoothies is one of the factors driving the growth of the restaurant segment in the global market. The growing efforts from the restaurants to leverage their existing customer base and foot traffic by promoting their smoothie offerings are further contributing to the segmental expansion. For instance, popular restaurants such as Jamba Juice, Smoothie King and Tropical Smoothie Cafe have several smoothie varieties in their menus with various flavors to match the preferences of various types of consumers.

The smoothie bars segment is growing at the fastest CAGR and is predicted to account for a substantial share of the global market during the forecast period. Smoothie bars are specialized establishments that are dedicated to offer various smoothie options and majorly use fresh, high-quality ingredients and customizable recipes in the making of smoothies. The expansion of smoothie bar chains and franchises with the adoption of innovative marketing strategies and digital ordering platforms is propelling the expansion of the smoothie bars segment in the global market.

REGIONAL ANALYSIS

North America outranked all the other regions and stood as the top performer in the global smoothies market in 2023 and the domination of North America is likely to continue throughout the forecast period in the global market due to the high demand for healthy non-alcoholic beverages in this region. North America occupied 36.1% of the worldwide market share in 2023. The population of health consciousness is rapidly growing in the North American region, and these people are increasingly consuming smoothies as these drinks help significantly in weight management and nutrient intake and are convenient, which is supporting the smoothies market expansion in North America. Smoothie bars and cafes that offer customizable smoothie options are gaining popularity in North America, which is further contributing to the regional market expansion. Famous smoothie brands such as Jamba, Smoothie King, and Tropical Smoothie Café have been putting significant efforts to expand their presence throughout the North American region, which is aiding the regional market growth.

Europe was the second-largest regional segment for smoothies worldwide in 2023 and is projected to grow at a healthy CAGR during the forecast period. Changing dietary preferences, increasing preference for convenient and nutritious beverage options like smoothies from European consumers and wide availability of smoothies in various distribution channels across Europe are driving the European market growth. The UK, Germany and France are at the forefront in Europe in terms of usage of smoothies in Europe.

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. The adoption of Western dietary habits, including the consumption of smoothies is spreading in the countries of Asia-Pacific, which is resulting in the increasing demand and contributing to the smoothies market growth in this region. China, India, and Australia are predicted to account for the leading share of the Asia-Pacific market during the forecast period as these countries are experiencing increasing investments by the smoothie brands for marketing campaigns and promotional activities to promote consumer awareness of smoothies.

KEY PLAYERS IN THE GLOBAL 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 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.

DETAILED SEGMENTATION OF THE GLOBAL SMOOTHIES MARKET INCLUDED IN THIS REPORT

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

By Product

• Fruit-based
• Dairy-based

By Distribution Channel

• Restaurants
• Smoothie Bars
• Supermarkets
• Convenience Stores

By Region

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