The growing demand for smoothies containing green leafy vegetables like kale, spinach, lettuce, and collard greens to improve digestion, strengthen the immune system, and reduce cravings for unhealthy foods, the growing customer awareness of the product's benefits, and the rising need for the product as a result of these factors are the main factors that are anticipated to propel the growth of the smoothies maker market during the forecast period. Additionally, it is projected that the rising need for convenience and affordability, as well as the rising demand for local flavors in soft drinks that include tropical flavors and the use of novel ingredients like erythritol, will all contribute to the expansion of the smoothie maker market. Furthermore, the market for smoothie makers is being restrained by the rising demand for healthy foods and beverages.
Every industrial sector has been affected by the COVID-19 epidemic to varying degrees. As a result, every industry has experienced a significant slowdown in manufacturing during the first half of 2020. The magnitude of the pandemic and its impact on production, demand, and supply chains, which are likely to impact the growth of the global smoothie maker market, make the outlook for the remainder of the year still unclear. The Covid-19 pandemic, restrictions on logistics, and rigorous lockdown measures with low manufacturing also hindered the market's expansion.
A Changing Trend Toward a Healthy Lifestyle and Eating Habits Will drive Market Growth
Globally, the accelerated pace of life and shifting work conditions have led to unrestrained eating habits and increased diseases. According to data from the Centers for Disease Control and Prevention, a quarter of Americans consume fruits and vegetables every day, which helps them avoid chronic diseases like cancer and heart disease. An increase in the consumption of fruits and vegetables can be attributed to the growth in diseases that are prevalent in society. There are many advantages to using a smoothie maker that make it simple to develop healthy eating habits while saving time. Smoothie consumption has increased as a result of greater social media influence and increasing knowledge of the advantages of a healthy diet. To ensure their bodies get the nutrients and vitamins they need daily, most consumers are switching to healthier options that can be consumed ready-to-eat. In the future years, it is anticipated that the growing trend toward homemade smoothies-on-the-go will increase demand for smoothie makers.
Counterfeit Goods are Widely Available, which Inhibits Market Expansion
Numerous smoothie makers on the market today are knockoffs composed of inferior components. Due to their lower cost, these products are frequently chosen by customers unaware that their safety has not been checked. Because of low-quality components, these smoothie machines are not as long-lasting as their original equivalents. These issues are anticipated to limit market revenue growth during the anticipated period.
Based on type, the smoothie maker market is segmented into personal blenders and professional blenders. The personal blenders category dominated the market in 2021. To use HungerRush's OrderAI platform, Smoothie King collaborated with the latter. In order to increase profitability and sales for its franchisees, the partnership's primary goal was to show that it was willing to invest in new technology.
By application, the market is segmented into home use and commercial use. The commercial use category dominated the market in 2021 due to the growing need for tiny, portable items that can be used on the go. Rechargeable smoothie makers are highly common among consumers because they are portable and take up very little counter and storage space. Smoothie makers are being utilized more frequently in gyms, workplaces, and outdoor activities as a result of growing awareness of healthy living.
North America is projected to hold the largest share of the smoothie maker market over the forecast period. The region's residents are becoming more committed to eating healthfully and consuming nourishing foods, which has led to a high penetration of smoothie maker. For instance, almost 45 million persons in the U.S. had gym memberships as of 2019. This region's consumers seek sustainable food production, wholesome diets, transparency, food safety, and convenience. Given the expanding tendency, many manufacturers have begun redefining their goods and equipment to meet the needs of customers concerned about their health.
On the other hand, the Asia Pacific smoothie maker market is anticipated to grow significantly over the forecast period. The major markets that are most likely to offer the product a significant opportunity for growth in the coming years are China, India, Japan, South Korea, Hong Kong, Singapore, and India. A rise in consumer spending power, and desire for healthy beverages like a smoothie is expected to enhance demand. Over the course of the projection period, this should accelerate market growth in the Asia Pacific region.
LIST OF KEY COMPANIES PROFILED:
- Magic Bullet
- Hamilton Beach
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