Market Research Report
Global Smoothies Market -2019-2026
|Published by||DataM Intelligence||Product code||906029|
|Published||Content info||130-180 Pages
Delivery time: 1-2 business days
|Global Smoothies Market -2019-2026|
|Published: August 1, 2019||Content info: 130-180 Pages||
The global Smoothies market expected to reach $XX billion by 2026, at a CAGR of 11% during the forecast period. The rising health consciousness among consumers and increasing demand for convenience and value are driving the demand for smoothies and smoothie bowls and therefore, is expected to fuel the growth in global Smoothies market.
Smoothies are thick-shake beverages that include ingredients, like yogurt, milk, almond milk, coconut milk, and sherbet. The smoothie market is flourishing in developed and emerging regions. Smoothies consist of dietary fiber. Thus, they are healthier than fruit juices.
The report covers all the major trends and drivers playing a key role in the growth of the Smoothies market.
The global Smoothies market growth is driven mainly due to rising health consciousness amongst people. According to the World Health Organization (WHO), in 2016, more than 1.9 billion adults aged 18 years and older were overweight. Of these, over 650 million adults were obese. Overall, about 13% of the world's adult population (11% of men and 15% of women) was obese in 2016. Smoothies can help consumers lose excess body weight without skipping any meals. The fruits and berries that are used to prepare these drinks serve as excellent companions for keeping consumers healthy. The enzymes present in several fruits help dissolve body fat and clear up your circulatory system.
Currently, the consumption habits of majority of the population include skipping meals and using other snack foods as substitutes. The intake of carbohydrate, primarily when smoothies are made without sugar, is low. Thus, most of the gym trainers and dietician recommend smoothies to people who are planning to lose weight. Therefore, smoothies emerged as perfect meal replacement products. Furthermore, they are healthier than other snack products, as well as offer good taste, convenience, and portability.
Smoothies are becoming popular as they provide various health benefits such as preventing dehydration, aid in digestion, enhance immunity, detoxify body, rich in calcium and fiber, and balance hormonal functioning.
Therefore, it is expected that global smoothies market will witness double digit during the forecast period.
By type, the global Smoothies Market is segmented into dairy-based smoothies and fruit-based smoothies. In 2018, Fruit-based smoothies accounted for majority share in the global market. However, dairy-based smoothies are expected to witness higher CAGR over the forecast period. Green smoothies made from fresh fruits and leafy greens such as spinach, kale, chard, collards are growing in prominence among the health-conscious consumers. Few of the health benefits of smoothies driving its consumption include preservation of dietary fiber present in fruits and vegetables; aids in easy digestion; hydration benefits as fruits and vegetables are rich in water; improved digestion and immunity booster, among others.
By consumption, the global smoothies market is segmented into the Out-of-home and At-home. In 2018, Out-of-home segment dominated the global smoothies market. Presence of large retail chains, supermarkets, hypermarkets, domestic stores and online retail stores are propelling market over the forecast period.
In 2017, there are more than 185,000 franchised quick service restaurants (QSRs) operating in the US. And, it is expected that QSRs industry will grow at significant rate in next five years. Rising popularity of smoothies and growing QSRs industry will further fuel growth in the global smoothies market.
By geography, the global Smoothies Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
North America represents the largest market worldwide supported by the growing value of healthy foods among the consumers' infamously unhealthy diet dominated by processed and calorie rich foods. Growing sophistication of food habits, rising levels of obesity and the ensuing consumer preference for juicing as an effective weight loss management strategy will further fuel growth in smoothies market.
Increasing income levels and changing lifestyle of people are expected to drive the market growth. Factors such as improving the lifestyle of consumers, especially in developing countries such as Brazil, China, and India, coupled with increasing disposable income, have fueled the growth in the global market. Nowadays, the adoption of Smoothies has increased, owing to the convenience and health benefits they provide. This trend is expected to continue during the forecast period, thereby positively fueling the Smoothies Market growth. Asia-Pacific region is expected to witness the highest CAGR and incremental growth in the global market due to the high demand for these appliances in China, Japan, South Korea, and India.
Global Smoothies Market is fragmented with the presence of global and regional players in the market. Creating consumer awareness by aggressive marketing strategies and greater visibility of products across retail space are other steps taken by market participants to generate demand.
Major players in the market are Bolthouse Farms, Jamba Juice Company, MTY Food Group, Smoothie King, and Tropical Smoothie Cafes. Other key players in the market are Daily Harvest, Dr. Smoothie Brands, HAPPY PLANET, J Sainsbury, and The Smoothie Company.
Intense rivalry among top players in the market has started fierce competition at various levels for setting a low price, driving aggressive marketing strategies, and new product launches as per consumers' taste and preference.