The superfood market is anticipated to grow at a robust CAGR during the forecast period. Superfood products provide consumers a relatively high amount of nutrients with less intake of calories. It plays an important role in minimalizing the risk of chronic diseases while bestowing healthier life to the consumers.
Market Trends, Drivers, Restraints, and Opportunities:
- Increasing cost of healthcare products and improving lifestyles of people, and new food innovations are major drivers of the market growth.
- Rising health awareness is anticipated to fuel the growth of the market. Growing demand for plant botanicals is expected to positively impact the market growth.
- Growing adoption of superfoods as a main ingredient in the manufacturing healthy drinks to provide high nutritional value is propelling the growth of the market.
- Rising per capital income is one of the major drivers of the market growth.
- The increase in geriatric population is estimated to propel the market growth
Scope of Superfood Market Report
The report on the superfood market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes
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Details
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Report Title
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Superfood Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018 & 2019
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Forecast Period
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2021–2028
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Segmentation
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Types (Fruits, Vegetables, Herbs, and Others), Distribution Channels (Supermarkets, Online Channels, and Convenience Stores), Applications (Bakery & Confectionery, Snacks, and Beverages)
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Regional Scope
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Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
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Report Coverage
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Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast
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Key Players Covered
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Supernutrients, Nestle, Nature's Superfoods LLP and OMG Superfoods
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Superfood Market Segment Insights
Fruit segment is anticipated to grow at a robust rate during the forecast period
On the basis of types, the market can be segmented into fruits, vegetables, herbs, and others.
The fruit segment is anticipated to grow at a robust rate during the forecast period. This segment accounted for over 25% share of the market in 2020. Fruits have a lesser chances of nutrient degradation and decay, which makes them a preferable choice among consumers across the world. Latest diets such as the raw paleo diet emphasizes on the health benefits of fresh vegetables and fruits, making them attractive to the younger section of the population.
Supermarkets segment is projected to hold a significant share in the market during the forecast period
In terms of distribution channels, the market can be segmented into supermarkets, online channels, and convenience stores.
The supermarkets segment is projected to hold a significant share in the market during the forecast period. Supermarket is a place where superfood is easily available in huge quantity, which makes it convenient for the buyers to buy superfood products.
However, the online channels segment is anticipated to grow at a robust rate during the forecasted period. The presence of various online grocery marketplace and awareness among consumers regarding the benefits of online delivery are major factors propelling the market segment growth.
Beverages segment is anticipated to dominate the market
Based on applications the market can be segmented into bakery & confectionery, snacks, and beverages.
The beverages segment is anticipated to dominate the market during the forecast period. It is comparatively a new application for superfoods and the increasing inclination toward leading a healthy lifestyle and worries regarding numerous health issues such as nutritional deficiencies and obesity are major factors that are projected to increase the demand for superfoods in beverages, thus increasing the growth of the market segment.
North America is projected to have a significant share in the coming years
In terms of regions, the market can be divided into Asia Pacific, North America, Europe, Latin America, and Middle East & Africa.
North America accounted for over 30% market share in 2020. The increasing acceptance of products with high nutritional content and less calorie level are the major drivers of the growth of the market in this region. Moreover, increasing R&D activities and the arrival of new monitoring technologies are anticipated to increase the growth of this market in this region.
The market in Asia Pacific is anticipated to exhibit a high CAGR during the forecast period. The growth of the market in the region can be attributed to increasing health consciousness and awareness about superfood ingredient in countries such as India and China.
Segments
By Types
- Fruits
- Vegetables
- Herbs
- Others
By Distribution channels
- Supermarket
- Online Channels
- Convenience stores
By Applications
- Bakery & Confectionery
- Snacks
- Beverages
By Regions
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East & Africa
By Key Players
Competitive Landscape
The key players of the market are Supernutrients, Nestle, Nature's Superfoods LLP and OMG Superfoods.
These companies have collaborated and partnerships in the form of co-operatives with farmers across the globe which has resulted in the growth this market and these players are anticipated to grow in the projected years.
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