Smoothies market to top valuation of USD 52.5 billion by 2033, opines Fact.MR
The increasing trend of consuming organic food products along with healthy eating habits, especially among the young generation, is driving the demand for smoothies.
The increasing trend of consuming organic food products along with healthy eating habits, especially among the young generation, is driving the demand for smoothies. According to the latest data provided by Fact.MR, a market research and competitive intelligence provider, the global smoothies market is estimated to reach a value of USD 52.5 billion by the end of 2033, expanding at a CAGR of 6.8 % during the forecast period (2023 to 2033).
Smoothies refer to thick beverages that are made by blending assorted vegetables, fruits, and other ingredients such as sweeteners, ice cubes, yogurt, seeds, milk, and herbal and nutritional supplements. They are rich in nutrients, including fibers and vitamins, and are easy to prepare and store for consumption. More people nowadays are also including green leafy vegetables such as lettuce, collard greens, spinach, and kale due to the increasing trend of green smoothies. These green smoothies are consumed to improve digestion, boost immunity, and minimise unhealthy food cravings.
Nutritional deficiencies and malnourishment have been affecting a large part of the population across several countries. However, over the years, due to improving economic conditions, these issues have been largely replaced with chronic diseases such as epilepsy and heart attacks, diabetes, obesity, strokes, and arthritis, especially in developed nations.
- According to CDC (Centers for Disease Control and Prevention), chronic diseases are one of the prominent health problems in the United States.
More people are becoming health conscious and are adopting healthier lifestyles by making alterations to their everyday diets. There has been a remarkable shift from carbohydrate-laden food products to healthy protein-enriched meals and snacks, in terms of demand. Furthermore, functional foods and beverages such as smoothies are also consumed by many people to meet their routine nutritional requirements.
Long working hours and hectic lifestyles are stimulating the demand for on-the-go-meal options, which, in turn, is strengthening the growth opportunities for market players. Key manufacturers are focusing on new product launches and strategic initiatives to drive market growth over the coming years.
Vegetables and fruits are used as major raw ingredients in the production of smoothies. Fluctuations in the prices of raw materials due to climatic changes can directly impact the cost of the final product. This is expected to restrain market growth to some extent.
Key Takeaways from Market Study
- The global smoothies market is anticipated to reach a value of USD 52.5 billion by the end of 2033.
- Demand for smoothies is forecasted to increase at a CAGR of 6.8 % during the forecast period from 2023 to 2033.
- The global market for smoothies is valued at USD 27.2 billion in 2023.
- The fruit-based segment is expected to account for more than 50 % market share by the end of 2033.
- Sales of smoothies in Germany are projected to increase at a CAGR of 4.8 % from 2023 to 2033.
- Demand for smoothies in Canada is set to expand at a CAGR of 5.5 % through 2033.