LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global smoothies market to grow at a CAGR of almost 9% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global smoothies market for 2017-2021. The market is segmented based on the product (fruit based and dairy based) and geography (the Americas, EMEA, and APAC).
The global smoothies market is expected to witness a steady growth rate during the forecast period. This is due to the significant demand for healthier food and beverages like smoothies. The market is expected to witness a decent growth rate in APAC due to increasing urbanization and consumers inclining toward Western lifestyles and diets. Also, the increasing number of smoothie outlets worldwide is making it more accessible to consumers.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Technavio food and beverage research analysts highlight the following three factors that are contributing to the growth of the global smoothies market:
- Increasing number of smoothie outlets
- Increasing awareness about health benefits of smoothies
- Increasing urbanization and changing consumer lifestyles
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Increasing number of smoothie outlets
Due to the growing demand for smoothies, manufacturers are expanding their operations worldwide. They are opening new stores and outlets to increase their working geography and consumer base. In 2015, Jamba Juice Company, one of the leading smoothie chains in the US announced that it has more than 600 new cafés in the pipeline in countries: Canada, Mexico, South Korea, Philippines, Taiwan, Thailand, the UAE, Oman, Saudi Arabia, Bahrain, Kuwait, and Qatar.
Manjunath Reddy, a lead non-alcoholic beverage research analyst at Technavio, says, “Booster, a Canadian smoothie and juice chain is also looking to expand its international network via airport locations. The company operates through more than 300 outlets in Canada, the US, and Mexico. It operates in four Canadian airports: Toronto Pearson, Halifax Stanfield, Edmonton, and Vancouver. According to the company's expansion program, it opened one outlet in the UAE in 2016.”
Increasing awareness about health benefits of smoothies
Consumers are increasingly interested in consuming healthier F&B that help with digestive health disorders. They are increasing their intake of vitamins, proteins, and active digestive health ingredients, such as prebiotics and probiotics, and are consuming more functional foods and drinks.
“Many consumers think that better digestive health plays a major role in preventive health care. Prebiotics and probiotics are believed to repair skin health, build immunity, increase energy levels, and overall well-being of the body. Hence, consumers have now come to an understanding that while the pharmaceutical industry aims to cure diseases, the health foods and drinks concentrate on disease prevention. The increasing awareness regarding preventive health is driving the global smoothies market,” adds Manjunath.
Increasing urbanization and changing consumer lifestyles
Some of the primary drivers of the global smoothies market are the increasing urban population, increasing demand for on-the-go meals, and increasing purchasing power parity of the people in emerging countries. There has been a considerable shift in the lifestyles and diet habits of consumers during the past two decades. Emerging economies in Central and South Americas and APAC will prove to be attractive markets for smoothies during the forecast period.
Increased global urbanization has led to higher disposable incomes and improved living standards. However, hectic lifestyles have resulted in deteriorating health conditions. Lifestyle disorders lead to unhealthy eating habits. Hence, the working population seeks healthy on-the-go/convenience beverages like smoothies.
Top vendors:
- Bolthouse Farms
- Jamba Juice Company
- MTY Food Group
- Smoothie King
- Tropical Smoothie Café
Browse Related Reports:
- Global Energy Drinks Market 2017-2021
- Global Sparkling Juices Market 2017-2021
- Global Flavored Water Market 2017-2021
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
