The smoothie industry has exploded in recent years, as people seek ways to be healthier on-the-go. But just how big is it? And has it hit a plateau or will it continue to grow?
In this article – we share the latest smoothie industry statistics and growth areas, along with current trends and future predictions.
Smoothie Market Stats
- The smoothie market is worth between $7.09bn and $12bn globally [Source].
- It’s predicted to grow at a rate of 6.3% annually between 2023 and 2029 [Source].
- It’s smaller than the global juice market which is worth $140bn globally and predicted to reach $229bn by 2030 [Source].
- The North America is the largest market accounting for 45% of global sales, however the Asia Pacific region is expected to be the biggest growth region (10% CAGR) in coming years [Source].
Smoothie Industry Insights
- Key distribution channels include restaurants, smoothie bars, supermarkets, and convenience stores [Source].
- The biggest players are Pepsi, Coca Cola (who own Innocent Smoothies), Smoothie King, Jamba Juice, and Ella’s Kitchen [Source].
- The juice and smoothie bar industry is worth $2.42bn in the US alone [Statista].
- Smoothie bars typically generate between $100,000 to $800,000 in revenue [Food Truck Empire].
- It costs $20,000 – $400,000 to start a smoothie bar [Food Truck Empire].
- Tropical Smoothie Cafe is ranked #11 in the Franchise 500 List, followed by Smoothie King (#17) [Entrepreneur].
- The fruit-based segment will be the fastest growing smoothie market trend, driven by increasing consumer health consciousness, changing lifestyles, and food habits [Source].
- Smoothies for weightloss, protein smoothies, and those made with plant-based milks will all be growth segments in coming years [The Blendery].
- Interest in smoothies peaked in April 2020 and appears to be slowly decreasing compared to previous years [Google Trends].
- Approximately 1 million people search for smoothies each month, an increase of 172% since last year [Google Ads].
- Smoothie bowls are the most popular type of smoothie [Google Ads].
- Strawberry-banana smoothies are the most popular flavour, followed by green smoothies, mango smoothies, and good old-fashioned banana smoothies [Google Ads].
- Searches for Tropical Cafe Smoothies have increased 235% over the last year [Google Ads].
- Genius coconut smoothies are the fastest growing smoothie trend, followed by starfruit and hurricane smoothies from Tropical [Google Ads].
- Smoothies for gut health, bulking smoothies and skin smoothies are our top trend predictions for the coming year [The Blendery].
So what does it all mean? Well the market for healthy smoothies is on an upward trajectory, but research shows that consumer interest may have peaked. The predicted growth rate of 6% means it’s a solid option, but it’s also facing headwinds such as rising fruit and veg prices.
It’s currently a fragmented market but huge players like Coca Cola and Pepsi are investing heavily in new smoothie brands. They need to diversify away from fizzy pop and soda given research on its effect on obesity, increasingly negative PR, and consumer interest in healthier options. They also need to appeal to new target markets as younger generations shun old brands.
This means that it may be hard for new players to break in without sufficient financial backing from investors. However, there will continue to be opportunities in niche segments, like plant-based smoothies, protein-powered recipes, and those containing gut-friendly bacteria.