The global Smoothies market is projected to reach US$17 billion by 2024, driven by the growing consumer demand for healthy, natural and convenient foods.
Smoothies are beverages prepared with juices, fresh or frozen fruits and vegetables and ingredients such as ice cream, milk, sherbet or yogurt and sugar/sweeteners. In addition, smoothies can also include ingredients such as herbal supplements, whey powders and nutritional supplements. Few custom-made smoothie varieties also use espresso coffee and chocolate caramel as ingredients, with even alcohol being used as an ingredient in some custom-made adult smoothies.
The global smoothies market continues to grow at a stable rate, driven by the growing consumer demand for healthy foods and beverages. The increasing health consciousness of consumers and hectic lifestyles of people have led to the evolution of smoothies into a convenient meal replacement option for on-the-go consumption. Growing awareness and concerns among people about increasing fat content, salt intake and fried foods, particularly in case of out-of-home dining experiences, also favors the market for healthier alternatives such as smoothies. Since smoothies primarily include fruits and vegetables, they are also rich in vitamins, minerals and trace elements. Smoothies made from milk and yogurt, which are rich in probiotics, also offer numerous health benefits. Due to the fact that smoothies include dietary fiber, i.e. the pulp, they are considered to be healthier than fruit juices. Green smoothies are specifically considered to be ideal options by health-conscious people. All of these benefits have contributed to the popularity of smoothies across the globe. The steady growth in the number of smoothie outlets also ensures greater accessibility of the product to consumers.
In the coming years, consumption of smoothies will be propelled by the rising awareness about the health advantages of smoothies, the rapidly changing consumer lifestyles, the growing urbanization trend, and the steady increase in the number of smoothie outlets across the world. With health foods and drinks gaining prominence as being vital for disease prevention, the consumption of smoothies is on the rise. Smoothies also benefit from the trend towards juice-based diets for cleansing and detoxification, as several blends of fruits and vegetables are known to aid in cleansing of the body. The growing popularity of non-GMO and organic smoothies as well as gluten-free smoothies is also expected to provide growth opportunities in the smoothies market. Organic smoothies are made fruits and vegetables, which are grown without the use of any harmful chemicals and pesticides, and hence beneficial for health.
The United States represents the largest market worldwide. The market is benefiting immensely from the increasing awareness about health benefits of smoothies, along with the growing focus on natural foods among consumers. Asia-Pacific is forecast to register the fastest CAGR of 9.1% over the analysis period. Smoothie consumption in the region is being stimulated by the rapid pace of urbanization, increasing disposable incomes of people and the increasing consumer inclination towards Western diets and lifestyles. Rapidly improving standards of living and hectic lifestyles of working people are leading to an increase in various lifestyle-related health issues, thus driving focus onto healthy foods such as smoothies and smoothie bowls.
Major players in the market include Barfresh Food Group Inc., Bolthouse Farms Inc., Boost Juice, Crussh Fit Food & Juice Bar, Ella's Kitchen (Brands) Ltd, Innocent Ltd., Jamba Juice Company, Maui Wowi Hawaiian Coffees & Smoothies, Naked Juice Company, Orange Julius of America, Planet Smoothie, Red Mango Inc., Robeks Fresh Juices & Smoothies, Smoothie King Franchises Inc., Surf City Squeeze, Stonyfield Farm Inc., Suja Life LLC, and Tropical Smoothie Cafe, among others.