Superfoods Market Size to Hit USD 387750 Million by 2030 at 8.7% CAGR - Report by Market Research Future (MRFR)

Superfoods Market Size and Trends by Application (Beverages, Snacks, Supplements, Bakery & Confectionery, Others), By Product Type (Superfruits, Superseeds and Super grains, Edible Seaweed, Other Superfoods), By Distribution Channel ( Store-Based, Non-Store Based) - Forecast 2030

New York, New York, UNITED STATES

New York, US, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Superfoods Market Information by Application, Product Type, Distribution Channel, and Region - Forecast till 2030”, the market is estimated to acquire a size of over USD 387750 Million by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 8.7% during the review timeframe.

Market Scope:

Superfoods are natural foods that are high in nutrients and include an abundance of vitamins, minerals, enzymes, amino acids, and antioxidants. These superfoods have a low calorie count but a great nutritious value. Superfoods often have more than 12 nutritious qualities.

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Report Scope:

Report AttributeDetails
2030 Market SizeUSD 387750 Million
CAGR8.7% (2021–2030)
Base Year2020
Forecast Period2021-2030
Historical Data2019
Forecast UnitsValue (USD Million)
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Coveredby Application, Product Type, Distribution Channel and Region
Geographies CoveredNorth America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Driversincreasing chunk of health-conscious consumers
Changing lifestyle

Competitive Dynamics:

Mergers and acquisitions, collaborations, joint ventures, partnerships, product development, improvements to already existing products, new production techniques and many other strategies are employed by the key players in the global market for superfoods to maintain their market share over the review period. The most notable companies in the global superfoods market are:

  • Nutiva
  • Sunfood Superfoods
  • NUA Naturals
  • Del Monte Pacific Group
  • Archer Daniels Midland
  • Creative Nature
  • Healthy Truth
  • Nature’s Superfoods LLP
  • Ocean Spray
  • The Green Labs LLP
  • Suncore Foods
  • Apax Partners
  • Supernutrients
  • Bulk Superfoods

Market Dynamics:

Market Drivers:

In recent years, the growth rate of the world market for superfoods has skyrocketed. The global increase in awareness of one's health and fitness is largely responsible for the market's expansion. Superfoods have recently gained a lot of popularity all around the world. These foods promote metabolism, support intestinal health, and shield against illness.

Superfood demand is further increased by the increased emphasis on natural ingredients and clean labelling. Additionally, the market for superfoods is anticipated to develop over the next few years as a result of factors including several new product releases and a growing number of health-conscious customers. On the other hand, the escalating rivalry on the worldwide market and the high costs of these food products are anticipated to limit the industry's expansion in the years to come. However, it is anticipated that during the evaluation period, the market participant would have access to profitable prospects due to the rise in personal disposable income and the aging population.

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Market restraints:

Although the worldwide market for superfoods is expanding rapidly, there are several issues that limit market expansion. Market growth during the predicted period will be constrained by heightened competition from other superfoods including prebiotics, probiotics, and dietary supplements. In addition, these food products are difficult to find in many developing nations, which is additional barrier. Because these superfoods are more expensive and not everyone can afford them, the market's expansion is constrained.

COVID-19 Analysis:

A sizable portion of the population has been impacted by the worldwide COVID 19 epidemic. A lot of people have lost their means of support as a result of this worldwide epidemic. It has impacted various industries' dynamics and expansion. Everyone practices social distance and worries about their immunity. The lockdown scenario forced the suspension of many end-user industries' operating activities, which reduced demand for superfoods and thus reduced sales income. The networks that make up the supply chain were also broken, which decreased the profit margin. The superfoods market is projected to recover from this global pandemic by the end of the third quarter of the following year with proper preparation in accordance with industry expectations.

Market Segmentation:

By Application

A sizeable portion of the market's overall revenue was generated by the beverages category. A relatively new application for superfoods is beverages, which is anticipated to expand moderately throughout the projected period. Superfood demand in drinks is expected to increase as people place more emphasis on living a healthy lifestyle and become more concerned about problems like obesity and nutritional deficiencies. This will help the market expand.

By Type

The market for superfoods as a whole saw a sizable revenue share from the fruits category. Fruits are anticipated to increase significantly over the course of the projection period and become a key market segment. Fruits are a popular choice for people all around the world since they have advantages including less risks of nutritional deterioration and spoiling. Baby boomers make up another group of consumers for fresh produce and fruits. Younger people tend to be drawn to trendy diets like the raw food and paleo diets because they emphasize the health advantages of eating fresh produce. 

By Distribution Channel

The Store-based segment is expected to retain its dominance over the review period. 

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Regional Analysis:

North America has the largest market share in the global market due to the presence of numerous important key companies and the substantial concentration of older population that drives market demand to this region. Another influence is the presence of nations like the US, Canada, and Mexico.

The European area holds the second-largest market share in the global superfoods market as a result of the region's established, technologically sophisticated infrastructure, which promotes market demand there. The market demand in this area is also influenced by the public's growing knowledge of health issues.

Due to the existence of populous nations like China and India, which increase market demand in this area, the Asia-Pacific region, which is the fastest-growing region, holds the a notable market share over the review period. Another element driving market demand in this area is the rising per capita disposable income. A key element is rising awareness of wellness and fitness.

Due to the poor infrastructure in both the Middle East and Africa and Latin America, these two areas have the lowest market shares. Another issue limiting market expansion in these areas is the low per capita disposable income.

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