Market Size of Smoothies Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.58 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
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Smoothie Market Analysis
The Smoothies Market size is expected to grow from USD 4.73 billion in 2023 to USD 6.82 billion by 2028, at a CAGR of 7.58% during the forecast period (2023-2028).
- The smoothies market has been growing over the past few years owing to the shifting consumer preferences due to various factors, among which health consciousness has been one of the prominent reasons. Hence, several companies are pivoting their business model and are producing packaged iterations of their popular products, while franchises have been concentrating on meal delivery partners and drive-through services.
- Moreover, companies offering more nutritious products are thriving due to increased awareness regarding the consumption of healthy foods. The smoothies market is subject to witness substantial growth over the forecast period due to changing food habits, varying lifestyle patterns among the general population, and shifting trends toward a healthy way of living.
- Over the past few years, the global smoothies market has witnessed a surge in market trends, with health boosters, such as superfoods, acai, chia seeds, and protein, that transform traditional smoothie products into functional supplements. These ingredients boost the immune system of consumers and provide a wide range of health benefits.
- The availability of ample raw materials across various regions has also been providing lucrative opportunities for manufacturers to produce smoothies at competitive costs and attract more customers while doing so. As per data published by the Directorate of Economics and Statistics (India), the production volume of fruits in the year 2021 was 102.48 million metric tons. The fruits being cultivated across the region included bananas, mangos, papayas, and a variety of apples, among others.
- The smoothie market is flourishing in developed and emerging regions. The growth is fueled by a rising number of health-conscious customers, changing lifestyles and eating patterns, and the health benefits of smoothies. Consumers are moving away from high-carbohydrate foods and toward protein-rich options.
- In addition, to achieve their daily nutritional requirements, people are consuming more functional beverages, such as smoothies. Furthermore, due to busy lives and long working hours, there has been an increase in demand for more convenient food options.
