The global squash market is predicted to accrue a value of US$ 1,510.6 million by 2032, rising from a valuation of US$ 1,027.6 million in 2022. The target market is, thus, slated to grow at an average CAGR of 4.7% from 2022 to 2032. The escalating popularity of plant extracts and botanical ingredients in beverages among consumers and rising awareness of the health benefits of squash are responsible for the steady growth of the squash drinks market during the projected period.
The high demand for low-calorie, plant-based, and mineral-rich beverages from the sports industry will have a positive impact on the squash drinks market. Plant-based, low-calorie, and mineral-based drinks assist with issues related to dehydration which bolsters their popularity in the sports industry. Squash drinks are gaining rapid traction due to carrying similar properties to isotonic drinks. These considerations will propel the squash drinks market forward in the upcoming years.
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Recent years have witnessed a greater demand for non-alcoholic drinks. In addition to this, owing to prevailing health consciousness and fitness trends, more and more consumers are opting for healthy beverages which are high in nutritional content. Increasing consumption of natural fruit juice, growing demand for ready-to-drink (RTD) beverages, and elevated awareness of the health benefits associated with squash will further aid the expansion of the squash drinks market.
Numerous market players are also focusing on utilizing packaging solutions that will extend the shelf-life of squash drinks. This factor is expected to bode well for the overall market. The advancing e-commerce sector will also assist with target market growth as it enables manufacturers to offer a wider product portfolio to a larger consumer base. Other factors like growing disposable income which enhances purchasing power, availability of different flavors of squash drinks, and the introduction of sugar-free squash drinks will underpin the growth of the squash drinks market during the forecast period.
Key Takeaways:
- Growing preference for other fruit-based drinks or freshly made juice and the presence of high fructose content in certain squash drinks are aspects that may stymie the growth of the squash drinks market.
- Availability of different flavors of squash drinks and the adoption of innovative packaging solutions by manufacturers will strengthen market prospects.
- North America accounts for the largest market share with a revenue of 33.5%.
- Rising awareness of the health benefits associated with squash drinks drives the market in North America.
- Asia Pacific’s squash drinks market emerges as the second-largest market due to prevailing health and fitness trends.
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Competitive Landscape
Robinsons, The Coca-Cola Company, Unilever plc, Britvic plc, Assis, Primor, Rasna, Sunquick, Hamdard, Prigat, Nichols plc, and Pepsico Inc., among others are some of the prominent players in the squash drinks market profiled in the full version of the report.
Key market players are focusing on generating greater awareness of the health advantages of squash drinks. These businesses adopt a strong marketing strategy. Many market participants also employ various organic and inorganic growth strategies.
More Insights into Squash Drinks Market
FMI offers the latest, unbiased, and detailed analysis of the global squash drinks market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of product type (orange squash, lemon squash, blueberry squash, mixed fruit), distribution channel (hypermarket/ supermarkets, departmental stores, retailers, e-commerce), and region.
According to the reports, based on segmentation, the e-commerce segment will offer lucrative opportunities to the overall market. The growing popularity of online shopping and the availability of a variety of flavors in e-commerce platforms will stimulate market growth. Based on region, the squash drinks market in North America will present impressive growth. The target market in this region will account for 33.5% of the revenue share and assume the dominant position in the international space. The growing awareness of the health benefits associated with squash and prevailing health and fitness trends will propel the market forward in North America. Asia Pacific and Europe, too, will make notable contributions to the global growth of the squash drinks market during the projection period.
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Key Segments Profiled in the Squash Market Survey
By Type:
- Orange Squash
- Lemon Squash
- Blueberry Squash
- Mixed Fruit
By Distribution Channel:
- Hypermarket/Supermarkets
- Departmental Stores
- Retailers
- E-Commerce
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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