Smoothies Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Smoothies Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The global smoothies market is projected to register a CAGR of 7.2% during the forecast period, 2022 - 2027.

Smoothies were primarily sold in brick-and-mortar stores before the pandemic, accounting for most of their sales. During the COVID-19 pandemic, retail businesses had to be closed due to lockdown, and restaurant and cafe owners had to contend with the lower footfall in their outlets. Several companies pivoted their business model and decided to produce packaged iterations of their popular products, while franchises concentrated on meal delivery partners and drive-through services. Moreover, companies that offered more nutritious product offerings thrived due to increased awareness regarding the consumption of healthy foods.

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.

The emergence of the ready-to-eat (RTE) smoothie category has allowed companies to step into new avenues of product innovation. RTE smoothies are spoonable and require no work, creating a new chance for grocery shops to leverage the growth of frozen goods, which are known for storing healthful ingredients more than perishable items.

Key Market TrendsIncreasing Consumption of Healthy Beverages

Smoothies, which include large servings of fruits and vegetables, are recommended as a healthy diet. Moreover, rising health consciousness among consumers, changing lifestyle and food habits, and health benefits are driving the smoothies market’s growth. Currently, the consumption habits of the majority of the population include skipping meals and using other snack foods as substitutes. The intake of carbohydrates, primarily when smoothies are made without sugar, is low. Thus, most gym trainers recommend smoothies to people planning to lose weight. Therefore, smoothies emerged as perfect meal replacement products. Furthermore, they are healthier than other snack products and offer good taste, convenience, and portability.

North America accounts for the Major Share

The North American region accounts for the major share in the market studied, followed by the Asia-Pacific region. In the North American region, United States accounted for the majority share in terms of consumption of healthy ingredients, owing to the busy lifestyle and deteriorating health conditions in the country. Moreover, rising health consciousness and busy lifestyle are driving the adoption of convenience food. Thus in 2021, Kind launched frozen smoothie bowls to appeal to consumers who eat their breakfast at home. Kind’s frozen smoothie bowls are said to be a healthier alternative to other frozen breakfast items and include at least 7 grams of protein and no more than 9 grams of added sugar.

Competitive Landscape

The global smoothie market is highly fragmented, owing to the presence of large regional and domestic players in different countries. Emphasis is given to the merger, expansion, acquisition, and partnership of the companies and new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. A few of the most active companies in the global market include MTY Food Group, and Smoothie King, among others.

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• The market estimate (ME) sheet in Excel format
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