Smoothies: Key market research findings
- Convenience and health benefits of smoothies
- Increasing popularity of organic and non-GMO smoothies
- Key players include Bolthouse Farms, Innocent Drinks, Maui Wowi Hawaiian Coffees & Smoothies, Robeks, Smoothie Kings, Suja Juice, and Tropical Smoothie Café
Technavio’s market research analysts predict the global smoothies market to grow at a CAGR of around 7% between 2016 and 2020. Consumers are becoming more conscious about their snacking habits and are increasingly adopting healthy snacking. They are actively interested in consuming healthier beverages to help with digestive health disorders and weight management. Since smoothies are made from fruits and vegetables, they provide essential nutrients and vitamins, and trace elements and help in cleansing and detoxifying the body. Some of the smoothies are made with yogurt and milk, which have a good source of probiotics and live cultures and are good for health. The Americas is the largest revenue-generating region in the market and occupied more than 52% of the total market share in 2015. Factors such as several associated health benefits, convenience, and easy availability are fueling the demand for smoothies in the region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Organic smoothies are made from fruits and vegetables that are naturally ripened without the use of harmful pesticides and chemicals. Consumers prefer such smoothies even though they are priced higher than normal juices as they contain useful nutrients derived from fruits and vegetables. These smoothies are rich in minerals and antioxidants and are considered safe for consumption. Some of the organic smoothies providers include Odwalla, Simply Balanced, The Cold Press Organic Beverage, B’more Organic, and GreenFix Organic Smoothie,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research
The fruit-based smoothies segment dominated the market in 2015 and accounted for close to 85% of the total market share. Fruit smoothies are fibrous, rich in vitamins, and natural, which makes them preferable among health conscious consumers worldwide. Moreover, fruit-based smoothies are also very popular among lactose-intolerant individuals. The growing popularity of fruit-based smoothies will lead to the strong growth of this market segment during the estimated period.
The global smoothies market is highly dynamic and fragmented due to the presence of many vendors offering a broad range of products. Since the food and beverage industry is subjected to rapidly changing consumer demands and preferences, this market may be affected by the changing consumer tastes and preferences. The vendors in this market compete in terms of quality, price, product differentiation, distribution, and promotion to gain maximum market traction during the forecast period. The competitive environment is also likely to intensify with an increase in product or service extensions, product innovations, and M&A activities.
A more detailed analysis is available in the Technavio report, Global Smoothies Market 2016-2020
We can customize reports by other regions and specific segments upon request.
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