Categories: Food & Beverages

Smoothies Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Smoothies Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Smoothies Global Market Report 2024, The smoothies market size has grown strongly in recent years. It will grow from $17.08 billion in 2023 to $18.44 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to health and wellness trends, rising awareness of nutrient-rich diets, demand for on-the-go and convenient nutrition, variety of flavor combinations, social media influence and food trends.

The smoothies market size is expected to see strong growth in the next few years. It will grow to $25.08 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to plant-based and vegan trends, innovations in functional ingredients, sustainable packaging and practices, expansion of ready-to-drink categories, personalization and customization trends. Major trends in the forecast period include focus on low sugar and natural sweeteners, e-commerce and delivery trends, sustainable packaging solutions, partnerships and collaborations, innovations in flavor combinations.

The increasing consumption of healthy beverages is expected to propel the growth of the smoothie market going forward. Healthy beverages provide beneficial nutrients and contribute to overall health and well-being. Smoothies are used as healthy beverages that provide a convenient and delicious way to consume a variety of fruits and vegetables, and with the addition of probiotics, they promote gut health and overall health and well-being. For instance, in 2021, according to the Government of Canada, a Canada-based government agency, the retail sales of energy drinks are expected to increase from US$14,150.4 million in 2020 to US$20,733.9 million in 2025. Additionally, the retail sales of fruit and vegetables increases from US$ 3,032.7 million in 2020 to US$3,532.0 in 2025 and the reduced sugar sports drinks increases from US$1,401.3 in 2020 to US$1,684.6 in 2025. Therefore, the increasing consumption of healthy beverages drives the smoothie market.

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The smoothies market covered in this report is segmented –

1) By Product Type: Fruit-Based, Vegetable-Based, Dairy-Based, Other Product Types

2) By Packaging Material: Plastic, Paper, Glass, Other Packaging Materials

3) By Distribution Channel: Supermarkets And Hypermarkets, Smoothie Bars, Convenience Stores, Other Distribution Channels

Product innovations are a key trend gaining popularity in the smoothies market. Major companies operating in the smoothie market are introducing innovative smoothies with unique flavors to sustain their position in the market. For instance, in March 2021, KIND Healthy Snacks (KIND), a US-based company that offers various snacks, launched the KIND FROZEN smoothie bowl, an innovative frozen breakfast smoothie snack. It is a healthier option made with a fruit and almond milk base, topped with creamy nut butter and crunchy granola. The sugar content is also low, with no more than 9g of added sugar blended with 7-8g protein.

The smoothies market report table of contents includes: