Smoothie Market Analysis

Global Smoothies Market Overview

Smoothies Market Size was valued at USD 2.2 billion in 2023. The smoothies industry is projected to grow from USD 2.34 Billion in 2024 to USD 3.6 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.54% during the forecast period (2024 - 2032). Increasing demand for tropical flavours in soft drinks, as well as the use of novel substances such as erythritol in soft drinks, and the growing need for convenience are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Smoothies Market Trends

• Increased use of healthy beverages propels market growth.

Smoothies with lots of fruit and vegetables are advised as part of a healthy diet. Furthermore, increased consumer health consciousness, changing lifestyle and food habits, and health benefits are propelling the smoothies market CAGR forward. Currently, the bulk of the population's eating habits include skipping meals and substituting other snack foods. Carbohydrate intake is low, especially when smoothies are made without sugar. As a result, most gym trainers advise clients who want to reduce weight to drink smoothies. As a result, smoothies have evolved as ideal meal replacement items. They are also healthier than other snack options and provide good taste, convenience, and mobility.

Furthermore, smoothies, which generally contain a significant number of vegetables and fruits in each serving, should be included in a balanced diet. A growing consumer awareness of the benefits of health and wellbeing, as well as changing lifestyle and dietary trends, are all factors leading to the growth of the smoothies sector. At the moment, the majority of individuals throughout the world have formed the habit of skipping meals in favour of various types of snack food. When smoothies are made without sugar, the amount of carbohydrates consumed is significantly reduced.

In addition, it is a good idea to know what types of smoothies to choose, especially if the customer has a specific body or fitness composition goal in mind. Smoothies can be drunk as a snack or as a meal replacement, but knowing which variations to choose from is essential. Smoothies are widely misunderstood as low-calorie snacks. However, depending on their size and the components they contain, numerous smoothies can have more than 1,000 calories. In most circumstances, a smoothie with 200-300 calories and 10 grams of protein is an excellent snack.

Smoothies Market Segment Insights

Smoothies Type Insights

The smoothies market segmentation, based on type includes fruit-based, dairy-based and other product-based types. In 2022, the fruit-based segment supplied the largest share of more than 50%. Rising investments in the food and beverage industry are expected to increase demand for fruit-based organic smoothies in the coming years. During the anticipated period, increased vitamin demand and the need to reduce sugar cravings will drive up sales of fruit-based goods. Furthermore, this sort of smoothie is quickly gaining popularity due to the fact that it contains a variety of vitamins and nutrients that are frequently found in fruits.

Figure1: Smoothies Market, by Type, 2022&2032 (USD billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Smoothies Distribution channel Insights

The smoothies market segmentation, based on distribution channel, includes supermarkets and hypermarkets, smoothie- elated bars and convenience stores. In 2021, the smoothie- elated bars segment witnessed a substantial revenue share of the smoothies market. The growth of this segment of the market is growing as a result of the increased availability of fruit-based as well as dairy-based tastes of superior quality. In addition, as the government is lifting all restrictions and bans from public eateries and other places, the consumption of smoothies from smoothie bars is rising rapidly. Owing to these factors, the growth of this segment of the market is being accelerated.

Smoothies Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America dominates the smoothies market because to the widespread consumption of healthful components in nations such as the United States. Furthermore, the chaotic lifestyle and increasing health concerns among customers would drive the growth of the smoothies market in the region during the forecast period.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: SMOOTHIES MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe smoothies market accounts for the second-largest market share due to increasing disposable income, and changing lifestyle in the region is significantly driving the demand for processed foods. Further, the German smoothies market held the largest market share, and the UK smoothies market was the fastest-growing market in the European region

The Asia-Pacific Smoothies Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due of the considerable growth in the demand for organic smoothies. Moreover, China’s smoothies market held the largest market share, and the Indian smoothies market was the fastest-growing market in the Asia-Pacific region.

Smoothies Key Market Players & Competitive Insights

Leading market players are investing heavily in R&D to expand their product lines, which will help the smoothies market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, smoothies industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the smoothies industry to benefit clients and increase the market sector. In recent years, the smoothies industry has offered some of the most significant advantages to medicine. Major players in the smoothies market, including Barfresh Food group of The United States, Innocent Drink of United Kingdom, Suja Life LLC of The United States, Smoothie King Franchise Inc of The United States and others, are attempting to increase market demand by investing in R&D operations.

Kind LLC, styled as KIND, is a New York City-based snack food manufacturer. Daniel Lubetzky created it in 2004. It has been a subsidiary of Mars since 2020. Kind was founded in 2004 by Daniel Lubetzky. In the first year, the company made $1 million in sales. VMG Partners, a private equity firm, invested in Kind in 2008.The funding allowed the company to scale its sample activities in order to introduce more individuals to Kind bars. Kind bars were only available in 20,000 places when VMG got involved, and Lubetzky's sampling budget was $800.By 2009, the budget had grown to $800,000, and providing free samples had become an important aspect of the Kind marketing strategy. Lubetzky purchased all of VMG's stock in 2014. In November 2021, Kind introduced frozen smoothie bowls in order to cater to people who have breakfast at home. Kind's frozen smoothie bowls, which contain at least 7 grams of protein and no more than 9 grams of added sugar, are considered to be a healthier option to other frozen breakfast dishes.

Innocent Drinks is a firm that makes smoothies and juice that are offered in supermarkets, coffee shops, and other locations. Every week, the company sells over two million smoothies. The Coca-Cola Company owns more than 90% of Innocent. Three Cambridge University graduates, Richard Reed, Adam Balon, and Jon Wright established Innocent Drinks after working in consulting and advertising. The three were classmates at Cambridge's St John's College. After spending six months perfecting smoothie recipes and £500 on fruit, the trio sold their beverages from a booth at a London music festival in 1998. People were invited to place their empty bottles in a "yes" or "no" container based on whether they believed the three should give up their jobs to manufacture smoothies. In September 2022, Blueberry Whizz, an addition to the company's super smoothie line, was launched by innocent drinks. With its vitamin D-added pulverized veg and fruit and no sugar, the firm hoped to provide more nutrient-based beverages to youngsters with this introduction.

Key Companies in the smoothies market include

• PepsiCo Inc of The United States


• The Coca. Cola Company of The United States


• Danone S.A of France


• Nestle S. A of Switzerland


• Bolthouse Frams Inc of The United States


• Barfresh Food group of the United States


• Innocent Drink of the United Kingdom


• Suja Life LLC of the United States


• Smoothie King Franchise Inc of the United States


• Save of the United Kingdom


• MTY Food Group of Canada

Smoothies Industry Developments

In March 2022, Feliscity Nutrition, Inc. made EO3 (Enhanced Omega-3) available on its website and Amazon. According to the business, the smoothie uses a breakthrough technique that stabilizes, emulsifies, and integrates cod liver oil with other nutrients without generating acid reflux, dilution, or other negative effects associated with omega-3 gel capsules.

In September 2021, The Coca-Cola Company sold the Odwalla brand to investment firm Full Sail IP Partners. Odwalla is a smoothie and fruit juice company based in the the United States. The Coca-Cola firm purchased it in 2001 for USD 181 million, however it was discontinued by the firm in July 2020 due to a consistent drop in sales. The company's most recent inventions include a gut-friendly kombucha-smoothie blend and sugar-free smoothies.

In August 2022, Bolthouse purchased Evolution Fresh, a Starbucks subsidiary. The company hoped to diversify and expand its beverage offerings by acquiring Evolution Fresh's plant-powered and nutrient-dense smoothies and juices. Furthermore, this acquisition would allow the company to add a full line of organic and cold-pressed premium juices to its portfolio.

Smoothies Market Segmentation

Smoothies Market Type Outlook

• Fruit-based


• Dairy-based


• Other product-based types.

Smoothies Market Distribution Channel Outlook

• Supermarkets and hypermarkets


• Smoothie- elated bars


• Convenience stores

Smoothies Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America