GVR Report cover Smoothies Market Size, Share & Trend Report

Smoothies Market Size, Share & Trend Analysis Report By Product (Dairy-based, Fruit-based), By Distribution Channel (Smoothie Bars, Restaurants, Supermarkets & Convenience Stores), By Region, And Segment Forecasts, 2022 - 2028

  • Published Date: May 2022
  • Report ID: GVR-4-68039-936-3
  • Number of Pages: 78
  • Format: Electronic (PDF)
  • Historical Data: 2017 - 2020

Report Overview

The global smoothies market size was valued at USD 6.68 billion in 2021 and expected to expand at a CAGR of 9.3% from 2022 to 2028. This can be credited to growing consumption of healthy beverages from the emerging economy such as China and India. Moreover, the rising awareness for healthier life coupled with the growing demand of fruit-based smoothies across the globe are anticipated to boost the market growth over the forecast period. In the COVID-19 pandemic, the demand for consumer goods & beverages has slightly increased due to the growing demand for dairy-based product. Protein Keto and fruit based beverages had gained the traction during the COVID-19 era to fulfil the demand of nutritious ingredients.

 U.S. smoothies market size, by product, 2019 - 2028 (USD Billion)

During the COVID-19 era, the increased focused to maintain physical fitness is a major factor to propel the market growth. However, lockdown has slowed down the supply chain as restaurants and smoothie bars were closed. The supply chain disruption had affected on the market growth during the financial year 2020-2021.

The growing popularity of dairy-based smoothies to accomplish the demand of essential proteins and vitamins are the major factors driving the market growth. Moreover, the rising demand for high dietary fiber beverages in developed countries are anticipated to foster the business growth. Rising demand to procure affordable non-alcoholic beverages are the upcoming opportunities for the market. However, higher maintenance cost is required to adopt cold storage system to improve the life span of smoothies which in turn will hold the market growth.

Moreover, the players in the organic beverages industry are procuring fat-free smoothies product in order to capture a large customer base. Hence, the market is expected to showcase significant gains during the assessment period. Moreover, the significant growth in the food & beverages industry in emerging economies such as China, India, and others further projected to provide ample opportunities for the market growth in the forecast period.

Additionally, the growing investment by the U.S.-based prominent players is also estimated to drive the market. The major players are procuring the sugar-free smoothies which are highly recommended in the fitness center to reduce weight. The escalating demand for healthy & energetic fruit flavors of smoothies from the consumers of the North America is driving the industry growth.

The growing trend of health consciousness and increasing demand for high nutrition beverage products among youth and millennials is driving the demand for smoothies across the globe. On the other hand, as consumers become more worried about their health as a result of rising chronic conditions such as high blood pressure and heart disease, new opportunities for the smoothie’s business will emerge.

Product Insights

Based on the product the global smoothies market is categorized into fruit-based, dairy-based and others. Among these, the fruit-based segment contributed to the highest share of over 50% in 2021. Rising investment in the food & beverages sector to procure fruit-based organic smoothies are projected to drive the market demand in the upcoming years. Growing need to accomplish the demand for vitamins and the necessity to reduce sugar cravings will enhance the sales of fruit-based products during the forecast period.

The dairy-based segment will register the highest CAGR of 9.6% in the forecast period. The growth in the segment is credited to the rising demand for a dairy-based product such as caramel, macchiato, and the gladiator flavor of coffee to accomplish the demand of proteins. The dairy-based smoothies are fat-free food that are used to detox the body. Owing to this, the segment is estimated to witness growth in forecast timeline. 

The other segment is projected to register the significant CAGR of 9% in the forecast period. The other segment consists of spicy smoothies. These smoothies are majorly used to maintain the metabolism of the body structure. This segment of other type is relatively new and at emerging stage. Various companies are introducing organic products fortified with other ingredients to increase nutritious value.

Distribution Channel Insights

Based on the distribution channel, the global smoothies market is fragmented into restaurants, smoothie bars, and supermarkets & convenience stores. Among these, the supermarkets & convenience stores contributed a share of more than 45% of the global smoothies’ market revenue in 2021. This growth is attributed to the cold chain management and the availability of a several ranges of products at an economical rate. The higher market share of the supermarkets & convenience stores segment is credited to the long-established nature and widespread availability across the world.

 Global smoothies market share, by distribution channel, 2021 (%)

Smoothies’ bars are reflecting the significant market growth exhibiting the CAGR of 9.1% from 2022 to 2028 owing to the availability of fruit-based and dairy-based flavors with better quality. Restaurant segment holds the minor stakes in the distribution channel and projected to register the fastest growth during the forecast timeline. This growth is owing to the increasing demand for non-alcoholic beverages from the several mid-scale and small-scale restaurants.

Regional Insights

North America made the largest contribution in the global smoothie’s market with over 35% share in 2021 due to increasing demand in the U.S., Canada, and Mexico. The growing adoption of smoothies to maintain body metabolism is propelling the market growth. Increasing R&D to procure innovative organic beverages is responsible to propel the regional market growth. The U.S.-based key players are providing smoothies at a lower cost that reward the healthy lifestyle of citizens.

Asia Pacific is expected to witness a CAGR of 10.1% from 2022 to 2028. This can be attributed to the increasing demand of organic soft drinks across the region. The growing awareness in China and India to maintain sustainable health is driving the market growth. The growing adoption of the product to beat disease such as diabetes is further estimated to drive the business growth in the forecast period. The significant growth rate of the region is mainly anticipated due to the increasing product awareness in countries such as, India, China, Japan, South Korea, etc. Increasing disposable income, and changing lifestyle in the region is significantly driving the demand for processed foods.

Key Companies & Market Share Insights

Companies' main focus is on innovating new beverages to meet the rising smoothies demand. However, implementing sustainability has its unique challenges and limitations. Multiple companies are targeting on the expansion and launches of sugar-free products in the market. In February 2022, Smoothie King partnered with HungerRush to use its platform OrderAI. The main aim of partnership was to demonstrate its willingness to invest in new technology to gain more profitability and sales for its franchisees.Some of the key players operating in the global smoothies market are:

  • Barfresh Food Group, Inc

  • Bolthouse Farms

  • Ella’s Kitchen Ltd

  • Innocent Drinks

  • Jamba Juice Company

  • Maui Wowi Hawaiian Coffees & Smoothies

  • Smoothie King

  •  Suja Juice

  • Tropical Smoothie Café

Smoothies Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 7.09 billion

Revenue forecast in 2028

USD 12.42 billion

Growth rate

CAGR of 9.3% from 2022 to 2028

Base year for estimation

2021

Historical data

2017 - 2020

Forecast period

2022 - 2028

Quantitative units

Revenue in USD million and CAGR from 2022 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

product, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; UK; Germany; France; Italy; Russia; China; India; Japan; Australia; Brazil; Argentina; Saudi Arabia; South Africa

Key companies profiled

Barfresh Food Group, Inc, Bolthouse Farms, Ella’s Kitchen Ltd, Jamba Juice Company, Hawaiian Coffees & Smoothies,  Maui Wowi Smoothie King, Suja Juice, Innocent Drinks, Tropical Smoothie Café

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Segments Covered in the Report 

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2017 to 2028. For this study, Grand View Research has segmented the global Smoothies market report based on product, distribution channel, and region.

  • Product Outlook (Revenue, USD Million, 2017 - 2028)

    • Fruit-based

    • Dairy-based

    • Others

  • Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)

    • Restaurants

    • Smoothie Bars

    • Supermarkets & Convenience Stores

  • Regional Outlook (Revenue, USD Million, 2017 - 2028)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • Germany

      • France

      • Russia

      • Italy

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • Saudi Arabia

      • South Africa

Frequently Asked Questions About This Report

gvr icn

GET A FREE SAMPLE

gvr icn

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

gvr icn

NEED A CUSTOM REPORT?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.

Contact us now to get our best pricing.

BBB icon D&B icon

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure.