The Juice Bar industry is expected to grow to $2.9 billion in the next five years.
Per capita disposable income is anticipated to grow an annualized 1.9% during the five-year period. Similarly, consumer spending is expected to increase at an annualized rate of 1.9%. Both of these factors will be the key drivers of growth.
The industry will continue to evolve over the next five years, in line with consumer preferences. Companies are expected to focus on quality and offering a wider variety of complementary food products, including salads, soups and healthy snacks. Furthermore, newer menu offerings positioned as meal substitutes, such as smoothie bowls and meal-replacement smoothies, are expected to capture consumers’ increasing demand for variety and customizable options when eating on the go.