The global squash market is anticipated to create an absolute dollar opportunity over the assessment period by advancing at a CAGR of 4.7% from 2022 to 2032. The global market was valued at US$ 1,027.6 Million in 2022 to reach US$ 1,510.6 Million by 2032. Growth in the market is attributed to the rising popularity among consumers of plant extracts and botanical ingredients within their beverages.
The rising preference for other fruit-based drinks or freshly prepared fruit juice is expected to hinder the market size. On the other hand, the surging availability of squash drinks on both platforms including online and retail as well as the growing awareness of the benefits of consuming squash is likely to estimate to generate revenues for the market. Furthermore, the sports industry is anticipated to augment the demand for low-calorie, plant-based mineral-rich beverages.
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A significant rise within the squash market is visible due to their propelling ability to resolve issues related to dehydration. This is attributed to the significant squash market growth, owing to the similar properties of squash drinks to isotonic drinks. In addition, various key manufacturers are adopting packaging solutions, which are expected to increase the shelf life of squash drinks. Key market players are also tapping into the e-commerce platform to expand their product portfolio to a wider audience.
Key Takeaways
- Propelling demand for non-alcoholic products is expected to fuel the sales of squash. Furthermore, health-conscious consumers are expected to positively impact the market share attributing to the multiple nutritional properties of a squash fruit.
- The increase in the consumption of natural fruit juices paired with augmenting popularity of consuming ready-to-drink (RTD) beverages are anticipated to flourish the market size over the forecast period.
- The popularity of squash is likely to surge owing to the increasing growth of the natural sweeteners market. Additionally, the increasing disposable income of consumers within developing countries has significantly improved their purchasing power. These aforementioned factors are anticipated to surge the adoption of squash.
- The fiber content in squash helps in improving the digestive system, which further assists in weight loss. Therefore, driving growth in the global squash market. Furthermore, constant climatic changes cause heat waves and raise the consumption of healthy, refreshing drinks, which is expected to propel the market share.
- Diabetic patients are rapidly inclining towards sugar-free food and beverages which is contributing to the growth of the market over the projection period. The availability of a variety of flavors of squash drinks without any sugar alternatives is anticipated to boost the market share.
- Manufacturers are inclined towards using recycled PET bottles which are augmenting squash sales. Owing to the rise in awareness about the reduction of plastic pollution, the market is fuelling significantly.
- The rising cost of research and development (R&D) activities are expected to challenge the market share. Moreover, high fructose content in certain squash beverages which may cause some health issues is likely to hamper the global squash market growth.
- Augmenting the popularity of blend squash drinks, specifically in hotels, restaurants, clubs, and homes are expected to enhance the market share. Similarly, the availability of citrus fruit-based squash drinks, such as berry squash, is piquing consumer interest and therefore driving the sales of squash.
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Competitive Landscape
Prominent manufacturers producing reliable packaging solutions which can withstand extreme temperatures and be transported over long distances present lucrative opportunities for the market. Likewise, creating vibrant, popping colors and catchy taglines for the product line to attract consumer attention is further likely to generate revenue. Key market players are heavily focusing on the health advantages of squash drinks by writing catchy taglines, as well as looking into celebrity endorsements to spread awareness about the benefits of squash.
More Insights into the Squash Market
North American region is anticipated to dominate the global squash market over the forecast period. The region accounts for a total of 33.5% of revenue till 2032. Growth in the region is attributed to the presence of major stakeholders. Furthermore, the propelling awareness of the health benefits of the consumption of squash, especially as a weight loss aid, is likely to significantly promote global market growth. Furthermore, the fast-paced life of consumers in this region, increasing the need for on-the-go beverages, is expected to surge the demand for squash.
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
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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Frequently Asked Questions
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