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superfoods market

Superfoods Market Share, Size, Trends, Industry Analysis Report, By Type (Fruits, Vegetables, Grains & Seeds, Herbs & Roots, Others); By Application (Snacks, Beverages, Bakery & Confectionery, Others); By Region; Segment Forecast, 2021 - 2028

  • Published Date: Oct 2021
  • Pages: 113
  • Format: PDF
  • Report ID: PM2046
  • Base Year: 2020
  • Historical Data: 2016 - 2019

Report Summary

The global superfoods market was valued at USD 162.18 billion in 2020 and is expected to grow at a CAGR of 5.6% during the forecast period. The key factors responsible for the growth are increasing concern towards health consciousness, concerning health benefits of the superfoods, and increased frequency of diabetes, heart-related disorders, and obesity due to sedentary and faulty lifestyles. The increased popularity of a well-balanced diet, especially among health-conscious people, has resulted in the inclusion of superfoods in ordinary meals. The surging use of superfoods components in beauty and personal care products is one of the key trends that will drive the superfoods market's growth.

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Superfoods have high nutritional value that contains a high amount of proteins, vitamins, minerals, fibers, and antioxidants with low or moderate amounts of fat. Hence, these types of foods can help in weight management, CVDs, diabetes, and cancer. Currently, there are more than 1.9 billion obese people across the globe. Obesity is associated with the increasing risk of diabetes and CVDs.

CVDs are the leading cause of death worldwide, and it affects 423 million people globally, whereas diabetes affects 463 million and the number is expected to rise to 642 million people, by 2040. The increasing cases of chronic lifestyle-associated disease and the rising awareness of people toward these diseases are expected to boost the superfoods market growth in the coming years.

The emergence of the COVID-19 pandemic is expected to increase the market's growth, owing to the increasing awareness for nutritional and healthy food during pandemic times. The pandemic has not affected the sales of vegetables and fruits even during the lockdown imposed in many parts of the world. Some superfoods are available as packaged products such as beverages, and these types of packaged foods are available through e-commerce platforms, and hence the pandemic is expected to have a negligible effect on the sales of the product.

Industry Dynamics

Growth Drivers
The market's growth is driven by many factors, such as increasing awareness among people for nutritional and healthy foods and the increasing incidence of lifestyle-associated chronic illnesses such as obesity, CVDs, diabetes, and cancer. Additionally, the rising vegan population and rapid urbanization in developing countries are expected further to drive the market's growth during the forecast period. Berries, quinoa, soy, chia seeds, leafy greens, mushroom, avocados, and hemp seeds are some of the popular superfoods. Quinoa is the most popular super grain with a high nutritional and antioxidant value that helps prevent many diseases. Quinoa and chia seeds are gluten-free, contain a high concentration of proteins and fibers. Mushroom is a great meat substitute owing to its high protein content.

Mushroom has approximately 3 grams of protein per 100 grams. Mushrooms are rich in minerals such as zinc, and selenium and it is also a rich source of vitamins that include vitamin B1, B2, B5, B6, and B12. It is the only vegetable source that contains Vitamin D. Blueberries are rich in Phyto-flavonoids and antioxidants. They are high in potassium and vitamin C, and it is known to exhibit anti-inflammatory properties and lower the risk of CVD and cancer. The high nutritional value of the product is expected to increase its consumption in the coming years, which will, in turn, drive the growth of the market.

The key industry players are focusing on various strategies to gain a competitive edge in the market. For instance, in May 2020, Nestlé introduced nesQino, a customized nutritious superfoods drink composed entirely of natural ingredients. The product was first introduced in China and can be used to produce 21 different nutritious recipes developed by creative nutritionists using various types of healthy ingredients.

Om, Mushroom Superfoods introduced a new range of Mushroom superfoods Daily Boost Capsules and Mushroom Superfoods Functional Drinks Sticks. These products are meant to provide constant nourishment and enhance critical well-being states by combining mushroom superfoods with functional additives. Cambridge Commodities acquired Ultimate Superfoods raw and organic superfoods ingredient business in 2020 to expand its presence in the U.S. market. Ultimate Superfoods offers products such as cacao products, agave nectar, and more.

Report Segmentation

The market is primarily segmented on the basis of type, application, and region.

By Type

By Application

By Region

  • Fruits
  • Vegetables
  • Grains & Seeds
  • Herbs & Roots
  • Others
  • Snacks
  • Beverages
  • Bakery & Confectionery
  • Others
  • North America (U.S., Canada)
  • Europe (Austria, France, Germany, Italy, Netherlands, Spain, UK)
  • Asia Pacific (China, India, Indonesia, Japan, Malaysia, South Korea)
  • Latin America (Argentina, Brazil, Mexico)
  • Middle East & Africa (Israel, Saudi Arabia, South Africa, UAE)

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Insight by Type

The fruits segment dominated the market and generated the highest market revenue in 2020. The segment is expected to maintain its dominance during the forecast timeframe. The increasing younger generation following trendy diets such as raw foods nutrition and paleo nutrition that emphasizes the health benefits of fresh fruits and vegetables is likely to propel the segment growth. The growing health concern in the aged population has led to the high consumption of healthy foods, which has led to the growth of the segment. The grains & seeds segment is projected to grow at a high growth rate during the projected timeframe.

Insight by Application

The beverages segment dominated the market of superfoods and generated the highest revenue in 2020, owing to the increasing market demand for superfoods in beverages. Rising awareness of the importance of living a healthy lifestyle and various health-related issues like nutritional deficiencies and obesity is likely to fuel the market's growth.

Geographic Overview

North America dominated the market and generated the highest revenue in 2020, owing to their increasing consumption of high-quality functional foods. Since the U.S. has large numbers of obese and diabetic populations, consumers increasingly prefer high nutritional, low-calorie superfoods, which is expected to drive the market growth in the region. In addition, considerable R&D activities and the introduction of new monitoring technologies will further fuel segment growth in the region.

Asia Pacific is expected to be the fastest-growing region for the global market during the forecast period owing to increasing consumer awareness of the health benefits of superfoods in the developing countries in the region. Rapid urbanization, increasing spending capacity, and the increasing number of supermarkets in recent years in emerging economies such as China and India will favor the growth of this market in the region.

Competitive Insight

Some of the major market players operating in the market include ADM, Aduna LTD, Barlean’s, Creative Nature, Del Monte Pacific Group, Get Raw Nutrition., Kilaru Naturals Private Limited., NATURE SUPERFOODS, Nutiva Inc., OMG Food Company, Power Super Foods, Rhythm Foods, Suncore Foods Inc., Sunfood, Superlife Co. Pte Ltd, and The Green Labs LLC.

Superfoods Market Report Scope

Report Attributes

Details

Market size value in 2020

USD 162.18 billion

Revenue forecast in 2028

USD 272.47 billion

CAGR

5.6% from 2021 - 2028

Base year

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Segments covered

By Type, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key Companies

ADM, Aduna LTD, Barlean’s, Creative Nature, Del Monte Pacific Group, Get Raw Nutrition., Kilaru Naturals Private Limited., NATURE SUPERFOODS, Nutiva Inc., OMG Food Company, Power Super Foods, Rhythm Foods, Suncore Foods Inc., Sunfood, Superlife Co. Pte Ltd, and The Green Labs LLC.

Key Take-Away
Polaris Market Research
Superfoods Market | Size, Share, Industry Growth | 2021-2028