The rising awareness about a healthy lifestyle coupled with the availability of healthy drinks to replace high-calorie sugar-concentrated beverages has catapulted the growth of healthy smoothies market.
The rising incidences of cholesterol and diabetes have led to a paradigm shift of consumer taste towards healthy smoothies. The threats associated with high cholesterol and diabetes can be fatal. According to a report published by World Health Organization, the number of deaths caused by diabetes in 2012 reached 1.5 Million. Additionally, 2.2 Million deaths occurred due to cardiovascular and other diseases branched out from higher than normal blood sugar level. Again, obesity is another key driver of demand in the healthy smoothies market. According to a report, ‘Obesity Rates by Country-2017’, world obesity population stands at 774,000,000. Therefore, the need to fight the persisting health evils has fueled demand for healthy smoothies globally.
The availability of healthy smoothies without compromising on the taste blended with enhanced flavors accelerated the growing inclination towards the product. Other benefits of healthy smoothies that have propelled the market expansion are intake of healthy ingredients, health benefits, strengthening of immune system, beauty & skin benefits, muscle building, detoxification of chemicals from bodies, improved digestion, accelerated weight loss, etc. However, high processing cost is a major restraint to the market growth across assessment period.
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Major Key Players:
The key players profiled by MRFR in its report are Barfresh Food Group (U.S.), Bolthouse Farms, Inc. (U.S.), Innocent Drinks (U.K.), MTY Food Group (Canada), Freshens (U.S.), Smoothie King (U.S.), and, Crussh Juice Bars (Australia). The top-notch players are quick enough in responding to changing market trends and act accordingly to gain a competitive edge. The most common strategies employed by the players are product portfolio expansion, accelerated market penetration, increased production, research & development activities, etc.
Coca-Cola European partners have launched ‘AdeZ’, its first ever range of plant-based beverage in Britain. The announcement was made a few months before the implementation of U.K. sugar tax. With zero added sugar, AdeZ is a dairy-free smoothie which contains seeds, vitamins, and, fruit juices. The product was launched in three flavors- Courageous Coconut Berry, Amazing Almond Mango-Passionfruit, and, Mighty Oat Strawberry-Banana. AdeZ brand originated in Argentina and has been a popular choice there since 1988. Coca-Cola acquired the brand in March 2017.
By type, the global healthy smoothies market has been segmented into fresh, and, processed. The fresh segment will dominate the market due to increasing demand which can be attributed to the absence of added preservatives.
By functional ingredients, the market is segmented into seeds, fruits, vegetables, and, others. The seeds segment has been further sub-segmented into chia seeds, flax seeds, pumpkin seeds, and, others. The fruits segment is sub-segmented into papaya, banana, pomegranate, and, others. The vegetables segment is further sub-segmented into spinach, collards, kale, ginger, and, others. The fruits and vegetables segments are expected to hold major market share owing to high production, and, easy availability. However, the demand is the seeds segment is expected to spiral due to the immense health benefits offered to the consumers.
By ingredient form, the market has been segmented into powder, liquid syrup, and, others. The consumer preference for pre-prepared drinks is driving demand for liquid syrup segment which will dominate the market throughout the projection period.
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By region, the global healthy smoothies market has been segmented into North America, Europe, Asia Pacific, and, Rest of the World (RoW). Physical inactivity and unhealthy food habits have taken a toll on the population of North America. The U.S. accounted for the most number of obese people, i.e., 109,342,839, as of July 1st, 2017. The shift towards healthy smoothies will multiply the rate of consumption in this region during the forecast period. Asia Pacific trails North America in terms of market share across the projection period. The growing population, emerging economies, rising number of diseases, increasing awareness about health benefits, etc. are driving growth in this region. Europe market is set to grow due to the changing preferences of consumers, government initiatives such as sugar tax, etc. which will propel the demand for healthy smoothies. The global change in consumer demands will fuel growth in Rest of the World (RoW) market.
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