New York, United States , July 25, 2024 (GLOBE NEWSWIRE) -- The Global Superfood Market Size is to Grow from USD 175 Billion in 2023 to USD 276 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.66% during the projected period.
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Superfoods, which are nutrient-dense foods, play a crucial role in promoting overall health and well-being while lowering the risk of serious illnesses. Rich in vitamins, essential fatty acids, fibers, antioxidants, and minerals, they contribute to healthy skin, nails, and hair growth. Superfoods are abundant in antioxidants, which protect the body’s cells from free radicals, preventing damage and boosting immunity. Increasing awareness of these health benefits and rising expenditure on health-promoting foods are expected to drive the global superfoods market. The growing demand for nutritious and convenient snacks, like cereal bars made with super grains and superfruits, is anticipated to be a key market driver. Consumers' interest in healthy snacking and plant-based foods is making superfoods increasingly popular. Food franchises and manufacturers have noted that consumers are more likely to try new products enhanced with unique ingredients, such as chia seeds and lotus seeds in smoothie bowls. The global market for these foods thrives on increasing consumer demand for health-conscious products, driven by factors such as a growing elderly population, rising healthcare expenditures, and a preference for nutritious options among vegetarians, vegans, and health-conscious individuals. The market landscape is diverse, offering opportunities for new entrants amidst a shift towards healthier eating habits. However, challenges like the high costs of raw materials such as superfruits, vegetables, and grains might hamper market growth.
Browse key industry insights spread across 243 pages with 110 Market data tables and figures & charts from the report on the "Global Superfood Market Size, Share, and COVID-19 Impact Analysis, By Type (Superfruits, Superseeds and Supergrains, Edible Seaweed, and Others), By Distribution Channel (Store-Based, Non-Store Based), By Application (Beverages, Snacks, Bakery & Confectionery, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033"
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The superfruits segment holds the largest market share in the superfood market throughout the projected period.
Based on the type, the superfood market is divided into superfruits, superseeds and supergrains, edible seaweed, and others. Among these, the superfruits segment dominates the market with the largest market share of the superfood market throughout the projected period. Their appeal stems from advantages such as minimized nutrient loss and spoilage. Baby boomers constitute a significant consumer base for fresh produce, while younger generations are increasingly drawn to popular diets such as raw and paleo, which highlight the health advantages of fresh produce.
The store-based segment is expected to grow at the fastest CAGR during the forecast period.
Based on the distribution channel, the superfood market is categorized into store-based, and non-store-based. Among these, the store-based segment is expected to grow at the fastest CAGR during the forecast period. Specialty stores offer a distinct advantage through their concentrated focus on specific product categories. This enables owners and staff to develop expertise and establish a reputation for knowledge and a wide selection within their chosen field.
The beverages segment is expected to grow at the fastest CAGR during the forecast period.
Based on the application, the superfood market is categorized into beverages, snacks, bakery & confectionery, and others. Among these, the beverages segment is expected to grow at the fastest CAGR during the forecast period. The growing accessibility of smoothies and juices, coupled with their adoption by leading market players, is set to encourage greater incorporation of popular superfoods in the industry. This responds to increasing consumer preferences for healthier food and beverage choices.
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North America is expected to hold the largest share of the superfood market over the forecast period.
North America is expected to hold the largest share of the superfood market over the forecast period. North America's substantial market share can be attributed to several factors. These include rising demand for nutritional supplements driven by heightened awareness of superfoods' health benefits, and increasing rates of chronic diseases like cancer, diabetes, and heart disease, prompting greater emphasis on preventive health measures. Additionally, the trend towards health and wellness, with a preference for clean-label products perceived as healthier and more transparent, has further boosted the demand for superfoods, supporting growth in this region's market.
Asia Pacific is predicted to grow at the fastest pace in the superfood market during the projected period. The rapid expansion of the Asia Pacific regional market can be primarily attributed to several factors. These include evolving lifestyles and fast urbanization, the widespread presence of supermarkets and hypermarkets, increased awareness of the health advantages of nutritional products, a growing preference for healthy foods and ingredients, and rising incidences of diabetes and obesity within the population.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the superfood market are Nutiva, Sunfood Superfoods, NUA Naturals, Gaia Herbs, Del Monte Pacific Group, Archer Daniels Midland, Creative Nature, Healthy Truth, Spirulina Mater, Nature’s Superfoods LLP, Ocean Spray, The Green Labs LLP, Suncore Foods, Apax Partners, Supernutrients, Inka’s Berries, Bulk Superfoods, Other key companies.
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Recent Developments
- In February 2024, Inka's Berries, a company based in Peru, introduced two new blueberry varieties: Abril Blue+ and Alessia Blue+. These varieties are noted for their sweet taste and have a post-harvest shelf life exceeding 70 days, according to the company.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the superfood market based on the below-mentioned segments:
Global Superfood Market, By Type
- Superfruits
- Superseeds and Supergrains
- Edible Seaweed
- Others
Global Superfood Market, By Distribution Channel
- Store-Based
- Non-Store Based
Global Superfood Market, By Application
- Beverages
- Snacks
- Bakery & Confectionery
- Others
Global Superfood Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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