Global Smoothies Market Size To Exceed USD 30.05 Billion By 2033 | CAGR of 9.27%
Category: Food & BeveragesGlobal Smoothies Market Size To Exceed USD 30.05 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Smoothies Market is Expected to Grow from USD 12.38 Billion in 2023 to USD 30.05 Billion by 2033, at a CAGR of 9.27% during the forecast period 2023-2033.
Get more details on this report -
Browse key industry insights spread across 240 pages with 130 Market data tables and figures & charts from the report on the " Global Smoothies Market Size, Share, and COVID-19 Impact Analysis, By Product (Fruit-based, Dairy-based, Others), By Distribution Channel (Restaurants, Smoothie Bars, Supermarkets & Convenience Stores, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/smoothies-market
The smoothies industry is the business that deals with the manufacturing, distribution, and sale of smoothies, which are blended drinks consisting mainly of fruits, vegetables, yogurt, plant-based milk, or other healthy ingredients. Moreover, smoothies provide an easy means for consumers to achieve their nutrient requirements within calorie constraints by offering a range of nutrient-rich ingredients from various food groups. The versatility of smoothies as a fast and healthy snack or meal replacement fits the lifestyle today, which has led to their increasing popularity. Smoothies make for a convenient choice for busy lives where one requires a healthy meal or snack in a hurry. They are portable, making them an ideal choice for those with hectic lifestyles yet require a healthy diet without losing any time. However, fresh smoothies, particularly those with no preservatives, are not very durable and need to be refrigerated. This poses a problem for distributors and retailers as far as managing stock and delivering it is concerned. Cold storage and transportation can increase costs to producers and retailers, making smoothies less available in some markets, particularly developing markets.
The fruit-based segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the product, the smoothies market is divided into fruit-based, dairy-based, and others. Among these, the fruit-based segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is attributed to the broad variety of flavors and blends that make fruit-based smoothies more convenient and attractive to various consumer tastes. As consumers move towards plant-based and natural foods, fruit-based smoothies fit well into these food trends, further increasing their market share.
The smoothie bars segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the distribution channel, the smoothies market is divided into restaurants, smoothie bars, supermarkets & convenience stores, and others. Among these, the smoothie bars segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The segmental growth is due to smoothie bars have experienced an increase in both local and international growth. Businesses in the industry constantly develop, releasing new flavors, diet-specific offerings, and holiday specials. This refreshes the consumer experience and keeps it exciting, promoting repeat business.
North America is expected to hold the majority share of the global smoothies market during the forecast period.
Get more details on this report -
North America is expected to hold the majority share of the global smoothies market during the forecast period. North American consumers have become health-conscious, focusing on wellness, fitness, and clean eating. Smoothies, being healthy, are a perfect fit for the lifestyle of health-conscious consumers. Functional beverages with added value beyond refreshment, such as smoothies with protein, probiotics, superfoods, and plant-based smoothies, are in increasing demand. This is in line with the wellness trend within the region.
Asia Pacific is anticipated to grow at the fastest pace in the global smoothies market during the forecast period. Global smoothie chains like Jamba Juice, Boost Juice, and Smoothie King are entering the Asia-Pacific market, driving the growth of the market. These chains not only introduce a product but also a lifestyle appeal, particularly among young consumers. Local smoothie chains are also innovating with new products to be able to compete in the market.
Major vendors in the global smoothies market are Barfresh Food Group, Inc., Bolthouse Farms, Ella’s Kitchen Ltd, innocent ltd, Jamba Juice LLC, Maui Wowi Hawaiian Coffees & Smoothies, Smoothie King, Suja Juice, Tropical Smoothie Café, The Smoothie Company, Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In March 2024, Smoothie King opened in Las Vegas. Seven new units added Las Vegas as a result of a development agreement entered into by the company with new franchisees Brandie and Dustin Rasmussen, who will operate four of the new units.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the smoothies market based on the below-mentioned segments:
Global Smoothies Market, By Product
- Fruit-based
- Dairy-based
- Others
Global Smoothies Market, By Distribution Channel
- Restaurants
- Smoothie Bars
- Supermarkets & Convenience Stores
- Others
Global Smoothies Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Need help to buy this report?