Insights Into The Smoothies Market’s Growth Potential 2023-2032
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The global smoothies market is on a path of impressive growth, projected to surge from $15.8 billion in 2022 to $17.08 billion in 2023, boasting a robust CAGR of 8.1%. Peering further into the future, the market is anticipated to reach $22.96 billion in 2027, sustaining a solid CAGR of 7.7%. This surge is underpinned by the escalating consumption of healthy beverages, marking a shift towards a wellness-oriented lifestyle.
- 1) Growth Trajectory
- Expected to grow from $15.8 billion in 2022 to $17.08 billion in 2023 (CAGR: 8.1%)
- Estimated to reach $22.96 billion in 2027 (CAGR: 7.7%)
Healthy Sips: A Driving Force
The rising trend of consuming healthy beverages is a pivotal driver propelling the smoothie market forward. Healthy beverages, rich in beneficial nutrients, contribute to overall health and well-being. Smoothies, in particular, emerge as a popular choice, providing a convenient and delicious way to incorporate a variety of fruits and vegetables into one’s diet. The addition of probiotics further enhances their appeal by promoting gut health.
- 2) Healthy Beverage Boom
- Smoothies positioned as a healthy beverage choice.
- Convenient and tasty method to consume a variety of fruits and vegetables.
- Probiotic-infused smoothies contribute to gut health.
- Example: In 2021, Canada anticipates a surge in retail sales of energy drinks, fruit and vegetables, and reduced sugar sports drinks.
Market Leaders: Shaping the Landscape
Major players play a pivotal role in steering the smoothies market, with industry giants such as PepsiCo Inc., The Coca-Cola Company, and Danone S.A. spearheading the industry. The diverse array of companies highlights the global and competitive nature of the market.
- 3) Major Players
- PepsiCo Inc., The Coca-Cola Company, Danone S.A., and others.
- Diverse range, from multinational corporations to specialized entities like Smoothie King Franchises Inc. and Innocent Drinks.
Innovative Blends: A Key Trend
Innovation is a key trend gaining momentum in the smoothies market, as companies strive to differentiate themselves through unique flavors and product offerings. Notable examples include the launch of the KIND FROZEN smoothie bowl by KIND Healthy Snacks in March 2021.
- 4) Product Innovations
- KIND Healthy Snacks introduced the KIND FROZEN smoothie bowl in March 2021.
- An innovative frozen breakfast smoothie snack.
- Healthier option with a fruit and almond milk base, topped with nut butter and granola.
- Low sugar content, with no more than 9g of added sugar blended with 7-8g of protein.
Segmentation: Unveiling Market Dynamics
To comprehend the nuances of the smoothies market, segmentation is crucial. The market is divided based on product type, packaging material, and distribution channel.
- 5) Market Segmentation
- By Product Type: Fruit-Based, Vegetable-Based, Dairy-Based, Other Product Types
- By Packaging Material: Plastic, Paper, Glass, Other Packaging Materials
- By Distribution Channel: Supermarkets And Hypermarkets, Smoothie Bars, Convenience Stores, Other Distribution Channels
Regional Dynamics: North America Takes the Lead
In 2022, North America emerged as the largest region in the smoothies market, underscoring the region’s significant influence. Looking ahead, Asia-Pacific is poised to be the fastest-growing region in the forecast period, indicating a shift in market dynamics.
- 6) Regional Dominance
- North America leading in market share signifies its prominence.
- Asia-Pacific anticipated as the fastest-growing region in the forecast period.
- Reflects changing consumer preferences and market expansion.
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The Smoothies Global Market Report 2023 provides an overview of the smoothies market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The smoothies market forecast analyzes smoothies market size, smoothies market share, leading competitor and their market positions.
The Table Of Content For The Smoothies Market Include:
1. Smoothies Market Executive Summary
2. Smoothies Market Segments
3. Smoothies Market Size And Smoothies Market Growth Rate
4. Key Smoothies Market Trends
5. Major Smoothies Market Drivers
25. Key Mergers And Acquisitions In The Smoothies Market
26. Top Smoothies Companies
27. Smoothies Market Opportunities And Strategies
28. Smoothies Market, Conclusions And Recommendations
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