Green Food Supplements Market Share, Size, Trends, Industry Analysis Report, By Product Type (Algae, Grasses, Vegetables, Others); By Form; By Sales Channel; By Region; Segment Forecast, 2023- 2032
- Published Date:Nov-2023
- Pages: 118
- Format: PDF
- Report ID: PM3912
- Base Year: 2022
- Historical Data: 2019-2021
The global green food supplements market was valued at USD 550.67 million in 2022 and is expected to grow at a CAGR of 3.2% during the forecast period.
Rising consumer health awareness is creating new growth opportunities for green food supplements, as they provide nutritious content, primarily vitamins, minerals, and antioxidants. Green food supplements can be in powdered, tablet, or capsule form and are made out of green plants and vegetables. Green vegetables are known to be rich sources of magnesium, potassium, calcium, and sodium. The presence of higher nutrition content in a wide range of plant-based ingredients is incorporated into supplements. People who do not consume leafy vegetables, primarily in urban areas, are more likely to demand these supplements to cover their nutritional gaps in vitamins and minerals.
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- For instance, in January 2023, Ancient Nutrition, a superfood supplement brand, introduced organic supergreen formulations in the form of tablets, gummies, and powder. This innovation is intended to propose a new approach to green superfood formulas.
Moreover, the widespread use of green food supplements in food items such as smoothies in households is driving enormous demand for green food supplements. Having green food supplements in the form of a mix in a glass of water as a daily routine for individuals is enhance the continuous demand in the coming years.
However, the asymmetry of information about various food supplements and the need for sufficient research on green food supplements are hampering the growth and demand for the market. Additionally, a lack of awareness and professional recommendations for green food supplements by healthcare providers is impeding market expansion.
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- Rising awareness about green food supplements is driving market demand
Growing concerns about health among individuals are driving the demand for food supplements. They can fulfill vitamins and minerals, which are essential for the better functioning of the human body. Working professionals are showing interest in green food supplements due to their inability to have a balanced diet due to time constraints. These supplements provide a convenient option for them, as they require less time to eat.
In a study published in the International Journal for Vitamin and Nutrition Research, the focus was on the outcomes of using six capsules of berry, fruit, and vegetable juice powders in the body. The study found an increase in the blood levels of carotenoids, vitamin C, vitamin A, and alpha-tocopherol (4 types of antioxidants) among the participants. This demonstrates the benefits of using green food supplements in daily routines. Rising scientific studies showcasing the bodily reactions due to the addition of food supplements to their diet will further drive the dispersion of benefits associated with green food supplements.
The market is primarily segmented based on product type, form, sales channel and region.
By Product Type
By Sales Channel
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By Product Type Analysis
- Algae segment is projected to have the highest growth during the forecast period
The algae segment is projected to grow at a higher CAGR during the projected period, primarily driven by its wide range of nutrients, such as spirulina and chlorella. This product is a highly preferred plant-based source for vegetarians. As the number of vegans grows, the demand for green food supplements is expected to increase in the near future. The presence of higher nutritional profiles in algae, such as vitamin A, vitamin K, magnesium, and iron, is fueling its supplement demand.
The grasses segment led the industry with a substantial revenue share in 2022, mainly attributable to its ability to support digestive health and immunity. Individuals mostly use it to boost their energy levels. The presence of dietary fibers in grasses is attracting a wide range of consumers to incorporate them into their diets for better digestion. This draws a larger consumer base that is interested in natural energy boosters. The grasses segment is fueling athletes and health-conscious consumers to adopt green food supplements in their food consumption.
By Form Analysis
- Powder segment witnessed the largest market share in 2022
The powder segment accounted for the largest market share in 2022 and is likely to continue its market position throughout the projected period. One of the primary factors driving this segment is ease of use and convenience. It is more convenient for workaholics who need more time to plan and prepare their diet. The ability to observe quickly is another factor that enhances the customer's interest in acquiring the immediate benefits of food supplements. Moreover, it is a preferred choice by vegans, as most capsule shells are made up of gelatin, driving demand for supplements in powdered form in the coming years.
The capsule segment is expected to witness stable growth over the next few years due to its potential to determine the fixed dosage to ensure consumers have standardized amounts of the supplement per serving. This effectively deals with the overdose and underdose of supplements. Consumers prefer capsule form for odorless and tasteless supplements.
By Sales Channel Analysis
- Online segment held a significant market revenue share in 2022
The online segment held a significant market share in revenue in 2022, which was highly accelerated due to the wider product availability. Rising online retail platforms enable products to reach a wider consumer base. Online e-commerce platforms are showing information about the ingredients used in the manufacturing of products like green food supplements. This system reduces the asymmetry of information among online shoppers. Furthermore, the establishment of user-friendly app interfaces with product reviews is driving online purchases of various goods, including these supplements.
- Asia Pacific region witnessed the largest market share in 2022
The Asia Pacific region dominated the global market. Growing product innovations by key market players in the region are driving the expansion of the market, primarily in developing countries like India. In 2022, Tata Consumer Products launched Tata GoFit, a plant-based powder, to enter the health supplement segment. It is easier to mix products with gut-friendly probiotics designed for women.
As key companies in the region expand their product portfolio with new product innovations, there will be a wider penetration of customers for green food supplements. The prevalence of at least one online user in households is driving awareness about healthy food, supplements, and healthcare information. Wider internet availability is fueling the benefits of green food supplements and enabling manufacturers to use different marketing strategies to reach a wider audience in the region.
The Europe region is expected to be the fastest-growing region with a healthy growth rate during the forecast period due to the rising demand for plant-based food products in the region. According to the Good Food Institute, plant-based food sales in Europe increased by 22% in 2020. This demonstrates the rising preference for vegan food in the region. Green food supplements are in line with the rising demand, as they are the best option to fill the nutritional gap in people's diets due to vegan diets. This factor is fueling the need for green food supplements in the near future.
Key Market Players & Competitive Insights
The green food supplement market is projected to witness higher competition due to the evolution of new market players. Continuous research and development activities within the competitors are driving new product innovations in the marketplace. Ongoing partnerships, mergers, and acquisitions are expanding the market.
Some of the major players operating in the global market include:
- Earthrise Nutritional
- Hard Rhino
- Herbal Hills
- New England Greens
- NOW Foods
- Pharma Freak
- Puritan's Pride
- RSP Nutrition
- Tate & Lyle
- In May 2023, Smart for Life, a global manufacturer of nutritional foods and supplements, introduced green's first children's chewable multivitamins. This is formulated with bioavailable vitamins for efficient absorption in children's bodies.
Green Food Supplements Market Report Scope
Market size value in 2023
USD 567.36 million
Revenue forecast in 2032
USD 755.28 million
3.2% from 2022 – 2030
2019 – 2021
2023 – 2032
Revenue in USD million and CAGR from 2023 to 2032
By Product Type, By Form, By Sales Channel, By Region
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Report customization as per your requirements with respect to countries, region and segmentation.