Superfoods Market to Reach $281.9 Billion by 2030
Meticulous Research®—a leading global market research company, published a research report titled, ‘Superfoods Market by Type (Fruits, Vegetables, Grain & Cereals, Herbs & Roots, and Others); Distribution Channel (Supermarkets/Hypermarkets, Online Retail, Convenience Stores, Specialty Stores, and Others); and Geography – Global Forecast to 2030.’
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According to this latest publication from Meticulous Research®, the global superfoods market is projected to reach $281.9 billion by 2030, at a CAGR of 7.2% from 2023 to 2030. The growth of the superfoods market is mainly attributed to growing health & wellness trends, rising interest in plant-based nutrition, a growing number of health-conscious consumers demanding natural food ingredients, and changing lifestyles and rising incidences of chronic diseases. Furthermore, increasing awareness about superfoods and innovation and new product developments are expected to create market growth opportunities. However, high prices of superfood products are expected to hinder the growth of this market to some extent.
The superfoods market is segmented by type (fruits, vegetables, grains & cereals, herbs & roots, and other superfood products), by distribution channel (supermarkets or hypermarkets, online retail, convenience stores, specialty stores, and other distribution channels), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at regional and country levels.
Among all the types studied in this report, the fruits segment is expected to account for the largest share of the global superfoods market in 2023. The large market share of this segment is attributed to its functional properties, including rich antioxidants, minerals, and multivitamins; lower risk of nutrient degradation; and easy availability at lower prices.
Among all the distribution channels studied in this report, the online retail segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the wide variety of options available at discounted rates compared to traditional retail stores and the convenience provided by online channels, such as doorstep delivery.
Among all the regions studied in this report, in 2023, North America is expected to account for the largest share of the superfoods market. The large market share of this region is attributed to the growing demand for nutritional supplements, high awareness of the health benefits of superfoods, and rising prevalence of chronic diseases, including cancer, diabetes, hypertension, stroke, heart disease, respiratory diseases, arthritis, obesity, and oral diseases; and growing health & wellness and clean label trends.
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Key Players
The global superfoods market is characterized by a moderately competitive scenario due to many large and small-sized global, regional, and local players. The key players operating in the global superfoods market are Sunfood (U.S.), sGlanbia plc (Ireland), Nature’s Superfoods (Part of Actspand Pte Ltd) (Singapore), Nestlé S.A. (Switzerland), The Kraft Heinz Company, Nutrisure Ltd (U.K.), Impact Foods International Ltd. (U.K.), OMG Food Company LLC (U.S.), Ocean Spray (U.S.), TERRASOUL SUPERFOODS (U.S.), Orgain, LLC. (U.S.), and Suncore Foods Inc. (U.S.).
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Key Questions Answered in the Report-
• What is the current value of revenue generated by the global superfoods market?
• At what rate is the global superfoods demand projected to grow for the next 5–7 years?
• What are the historical market sizes and growth rates of the global superfoods market?
• What are the major factors impacting the growth of this market at the global and regional levels? What are the major opportunities for existing players and new entrants in the market?
• Which segments in terms of type and distribution channel category create major traction for the manufacturers in this market?
• What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the superfoods market?
• Who are the major players in the global superfoods market? What are their specific product offerings in this market?
• What are the recent strategic developments in the global superfoods market? What are the impacts of these strategic developments on the market?
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