Smoothies Market by Product, Consumption Pattern, and Geography - Forecast and Analysis 2020-2024
Global Smoothies Market: About this market
Technavio’s smoothies market analysis considers sales from fruit-based, dairy-based, and other smoothies. Our study also finds the sales of smoothies in APAC, Europe, MEA, North America, and South America. In 2019, the fruit-based segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as popularity among health-conscious consumers in developed countries will play a significant role in the fruit-based segment to maintain its market position. Also, our global smoothies market report looks at factors such as increased rising number of smoothie outlets, increasing awareness about health benefits of smoothies, and growing urbanization and changing consumer lifestyles. However, fluctuating prices of fruits and vegetables, increasing competition from substitutes, and regulatory challenges may hamper the growth of the smoothies industry over the forecast period.
Global Smoothies Market: Overview
Increasing awareness about health benefits of smoothies
Consumers are increasingly opting for healthy and functional F&B products that are rich in vitamins, proteins, and active digestive ingredients such as prebiotics and probiotics. This has increased the demand for smoothies as they are made primarily from fruits and vegetables and provide essential nutrients, vitamins, and trace elements. They also help detox and cleanse the body. Smoothies made of yogurt and milk are also gaining popularity due to their probiotic properties. Therefore, increasing consumer awareness about the health benefits of smoothie will lead to the expansion of the global smoothies market at a CAGR of over 9% during the forecast period.
Increasing demand for organic and gluten-free smoothies
Organic smoothies are made from fruits and vegetables that are not artificially ripened or sprayed with harmful pesticides and chemicals. The rising consumer concern about the origin and quality of fruits and vegetables used in the production of smoothies is increasing the demand for organic smoothies as they are rich in mineral and antioxidant. Further, the consumption of gluten-free foods is driven by the increase in the number of people with celiac disease. An increase in the occurrences of digestive health problems, weight management issues, and the demand for nutritious food will influence the smoothie market growth. The easy availability of gluten-free food products is another major reason behind their increased consumption. Vendors are innovating products, such as smoothie bowls, to increase customer outreach. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global smoothies market during the forecast period 2020-2024, click here.
With the presence of several major players, the global smoothies market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading smoothies manufacturers, that include Barfresh Food Group Inc., Happy Planet Foods Inc., International Dairy Queen Inc., J Sainsbury Plc, Jamba Juice Franchisor SPV LLC, PepsiCo Inc., Smoothie King Franchises Inc., The Hain Celestial Group Inc., The Coca-Cola Co., and Tropical Smoothie Cafe LLC.
Also, the smoothies market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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