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Market Scenario:The global smoothie market is presumed to experience a healthy CAGR during the forecast period (2018-2023) owing to the increasing awareness about health benefits, asserts Market Research Future (MRFR). Smoothie is a thick beverage which is usually prepared by blending vegetables and fruits and is rich in fiber, vitamins, and other nutrients. Smoothies made of yogurt or milk offer a good source of probiotics which are responsible for good health and helps to build immunity, repair skin, ensure overall wellbeing, and increase energy level. The smoothie market is expanding in the developed as well as in the emerging markets.
Drivers and Constraints Impacting the Market
With the changing lifestyle of the population coupled with the adoption of a healthy way of living, the global market for smoothie is likely to expand at a rapid pace. The carbohydrate intake in smoothies made without sugar is very less, thus gym trainers highly recommend it for people seeking to lose weight. Additionally, a major section of the population prefers smoothie over other soft drinks due to their taste and not health benefits. Thus, they are the perfect meal replacement for food products and offer a good taste, portability, and convenience. Such factors are considered to stimulate the market during the review period.
On the flip side, packaging becomes a major challenge for the smoothie market. Also, smoothies costs higher than any soft drinks and juices, hence people find it difficult to purchase from special smoothie outlets, fast food joints, and juice bars. Moreover, juice bars and smoothie outlets use more sugar in order to make their smoothie taste good, which are not healthy. Such factors are impeding the market growth during the assessment period.
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Industry Updates:
October 23, 2018: A new brand, Thrive!, dedicated to promoting a healthy, on-the-go lifestyle, has recently launched a delicious line of ready-to-blend frozen smoothie cups which has been designed to offer healthy and convenient nutrition for people looking to power up for their daily adventures. The pre-portioned superfood cups feature natural ingredients which are freshly cut and flash frozen and are perfectly proportioned in a single serve cup, ready to blend with your favorite liquid base.
Major Key Players Review:
The noteworthy players operating the global smoothie market are Suja Life LLC (US), Innocent Drinks (UK), MTY Food Group Inc. (Canada), Bolthouse Farms Inc. (US), Jamba Juice Company (US), Boost Juice (Australia), Tropical Smoothie Café (US), Smoothie King (US), Barfresh Food Group (US), and Crussh (Australia).
Segment Analysis:
The global smoothie market has been segmented on the basis of packaging, type, distribution channel, and region.
By mode of type, the global smoothie market has been segmented into vegetable-based, fruit-based, and blends. Among these, the fruit-based smoothie is anticipated to fastest and largest market share owing to the wide variety of fruit-based smoothies available in the global market.
By mode of packaging, the global smoothie market has been segmented into pouches, bottles, and others. Among these, the bottle segment is presumed to dominate the global market during the review period as market players are introducing innovative designs which are convenient to carry.
By mode of distribution channel, the global smoothie market has been segmented into store and non-store-based. Among these, the store-based segment has been further sub-segmented into specialty stores, hypermarkets/supermarkets, and others. The store-based channel is considered to exhibit a larger share, with supermarkets/hypermarkets dominating the global market.
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Regional Insights:
Geographically, the smoothie market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World.
Among all the regions, the North American region is considered to dominate the global smoothie market due to the growing health-conscious population in this region. The United States is the major contributor in this region owing to the presence of several key players and a growing number of smoothie bars in the country.
The Asia Pacific region is anticipated to expand at a rapid pace owing to the increasing health-conscious population. Economies such as India, China, and Japan are presumed to contribute to the growth of the market owing to the growing consumption of healthy beverages.
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