Fruit Smoothie Preferences
Guide the decision on the type of fruit smoothie to be introduced in grocery stores via analyzing consumers' reasons behind fruit smoothie purchase and their desired benefits. The research should provide a perspective on the new fruit smoothie products being introduced in the marketplace, as well as any sales data on the most popular fruit smoothie type.
- The global smoothie market is expected to have a CAGR of 9% from 2020-2024.
- While over 42% of the market for smoothies is in North America, growth there will be slower than in the APAC, MEA, and South America regions.
- Fruit-based smoothies will continue to dominate the market (vs. dairy-based smoothies), as they provide vitamins and minerals while still being accessible to the lactose intolerant market. They are also expected to continue being the fastest-growing segment.
- The top trends in 2019 included the continuing popularity of organic, gluten-free, and customization, which reflect wider food trends; an increasing interest in "smoothie as food", meaning looking at it as a meal replacement, as a smoothie bowl, and incorporating non-fruit items and tastes things like spices, herbs, or vegetables; and an increasing interest in "smoothies+" as seen in the rise of adult smoothies (with alcohol added) or smoothies with boosters and super foods that promise to increase consumer immunity and health.
- The top 10 smoothie companies in 2019 were Bolthouse Farms, the Jamba Juice company, the MTY Food Company (which owns Planet Smoothie, Maui Wowi Hawaiian, Cold Stone Creamery, Surf City Squeeze, and Yogen Fruz), Smoothie King, Tropical Smoothie Café, Dr. Smoothie Brands, Daily Harvest, HAPPY PLANET, Innocent Drinks, and Naked Juice. However, Jamba Juice, MTY Food Company brands, Smoothie King, Tropical Smoothie Café are standalone chains and are not found in the supermarket. Dr. Smoothie Brands is a B2B wholesaler and the Daily Harvest smoothies are part of their D2C meal delivery system. Bolthouse Farms, HAPPY PLANET, Innocent Drinks, and Naked Juice are sold in supermarkets.
Proposed next steps:
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From our early findings, we discovered that several of the smoothie trends and emerging desired consumer benefits are outgrowths of broader trends in the global food and beverage industry. We recommend continuing this analysis by finding no less than 4 trends in that larger space (food and beverage) that may be echoed in the smoothie category. Each trend will have a title, a short overview, and an example that supports that trend. That example can be used as inspiration for the smoothie offer mentioned in the overarching goal.
Do a deeper dive into FOUR of the top smoothie companies found in the early findings. We recommend Bolthouse Farms, HAPPY PLANET, Innocent Drinks, and Naked Juice. For each company, we will provide an overview of the company, a list of its smoothie products and add-ons, where the company's smoothie products are available (region/country, and any nationwide chains that may carry them), and 1-2 key marketing messages. This can help support the overarching goal of understanding what to offer by providing points of comparison from the big players.