Smoothie Market Size, Share, Gross Margin, Leading Key Players Review and Forecast to 2023

Market Highlights:

A smoothie is a blend of fruits and vegetables with yogurt or milk. Smoothies offer essential nutrients such as vitamins, minerals, and phytochemicals. The key market players are consistently working on developing new products with higher nutritional content.     

Based on type, the global smoothie market has been segmented into fruit-based, vegetable-based, and blends. The fruit-based smoothie segment is expected to account for the largest and fastest-growing market during the forecast due to the wide variety of fruit-based smoothies available in the market. However, the popularity of leafy vegetables such as kale, spinach, collard greens, and lettuce in smoothies is expected to drive the growth of the vegetable-based smoothie segment. Moreover, with various innovations in products, the blends segment is also expected to register significant growth.

The global smoothie market has been segregated, by packaging, into bottles, pouches, and others. The bottles segment is expected to dominate the global smoothie market during the assessment period. The key players are introducing innovative bottle designs that are convenient to carry. This is expected to promote the growth of the market in the coming years. However, the pouches segment is expected to grow at the fastest rate during the forecast period.

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The global market for smoothies has also been classified, by distribution channel, as store-based and non-store-based. The store-based segment has further been categorized as supermarkets/hypermarkets, specialty stores, and others. The store-based distribution channel segment is expected to be larger, with the supermarkets/hypermarkets sub-segment dominating the market during the forecast period. However, the increasing number of smoothie bars is projected to drive the growth of the specialty stores segment.

Key Players:

Some of the key players in the global smoothie market are Bolthouse Farms, Inc. (US), Barfresh Food Group (US), Innocent Drinks (UK), Smoothie King (US), Suja Life, LLC (US), Jamba Juice Company (US), Crussh (Australia), MTY Food Group Inc. (Canada), Tropical Smoothie Café (US), and Boost Juice (Australia).

Regional Analysis:

On the basis of region, the global smoothie market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to dominate the global smoothie market owing to the increasing health-conscious population in the region. In North America, the US is a major contributor to the growth of the smoothie market. This can be attributed to the presence of several key players and an increasing number of smoothie bars in the country. 

The smoothie market in Asia-Pacific is expected to grow rapidly due to the growing health-conscious population. China, Japan, and India are expected to greatly contribute to the growth of the smoothie market in the region due to the rising consumption of healthy beverages in lieu of carbonated soft drinks.  

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Segmentation:

The global smoothie market has been segmented on the basis of type, packaging, distribution channel, and region.

The global smoothie market has been divided, by type, into fruit-based, vegetable-based, and blends.

By packaging, the global smoothie market has been classified as bottles, pouches, and others.

On the basis of distribution channel, the global smoothie market has been segregated into store-based and non-store-based. The store-based segment has been further divided into supermarkets/hypermarkets, specialty stores, and others

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This release was published on openPR.