Superfoods Market size is set to grow by USD 79.5 billion from 2024-2028, Growing adoption of superfoods boost the market, Technavio

NEW YORK, June 7, 2024 /PRNewswire/ -- The global superfoods market size is estimated to grow by USD 79.5 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  7.71%  during the forecast period. Growing adoption of superfoods is driving market growth, with a trend towards application of superfood ingredients in beauty and personal care products. However, high threat from substitutes  poses a challenge. Key market players include Archer Daniels Midland Co., Barleans Organic Oils LLC, Cornish Seaweed Co. Ltd., Creative Nature Ltd., General Mills Inc., Healthy Truth, ITC Ltd., Navitas LLC, Nirvaanic Life Foods Pvt. Ltd., Nua Naturals, Nutiva Inc., NutriAsia Inc., Nutrisure Ltd., Ocean Spray Cranberries Inc., OMG Food Company LLC, Power Super Foods, Rhythm Superfoods LLC, Suncore Foods Inc., Sunfood, and Superlife Co. Pte. Ltd..

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Market Driver

The global market for superfoods in the beauty and personal care industry is experiencing significant growth. Consumers prefer products with recognizable, natural ingredients and are willing to pay a premium for better-for-you options. In 2021, natural beauty products outsold conventional ones due to increasing awareness of synthetic cosmetics' side effects.

Key superfood ingredients, such as coconut oil, avocado, turmeric, and honey, are in high demand due to their antioxidant and anti-inflammatory properties. These ingredients are used to moisturize and soothe the skin, making them essential in the beauty and personal care market during the forecast period. 

The market for superfoods continues to grow, with consumers seeking out foods rich in essential nutrients. Key superfoods include acai, goji berries, chia seeds, quinoa, pumpkin seeds, and veggies like kale and spinach. Trends include the use of superfoods in functional foods and beverages, as well as their integration into traditional meals.

Superfoods are sourced from various regions, such as South America and Asia, and are often imported. The cardiovascular and health benefits of superfoods make them a desirable choice for consumers looking to improve their overall wellbeing. Superfoods are also convenient, with many available in powder or supplement form for easy consumption. The superfood market is expected to see significant growth in the coming years. 

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Market Challenges

•         The global superfoods market is experiencing competition from various substitutes, including whole foods, functional foods, probiotics, and prebiotics. Whole foods, such as tubers, grains, legumes, vegetables, and fruits, are unprocessed and offer health benefits at lower prices than many superfoods.

•         Functional foods, like bread, cereals, and nutraceuticals, provide vitamins and similar health benefits. Probiotics and prebiotics, marketed for digestive health, also offer potential overall health benefits and are more affordably priced. These substitutes' availability and competitive pricing may hinder the growth of the superfoods market.

•         The superfoods market is experiencing significant growth with a variety of products such as chia seeds, pudding, quinoa, nuts, and antioxidants in high demand. However, challenges exist in the industry. Production costs for some superfoods like acai and goji berries can be high due to their exotic origins.

•         Additionally, consumer education is crucial to ensure proper usage and expected health benefits. Regulations and certifications also pose challenges for businesses in the market. Producers must adhere to strict guidelines for labeling and marketing their products as superfoods. Despite these challenges, the market continues to thrive, driven by consumer demand for healthy and nutritious food options.

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Segment Overview 

1. Product 
• 1.1 Superfruits
• 1.2 Superseeds and supergrains
• 1.3 Edible seaweed
• 1.4 Others
2. Distribution Channel
• 2.1 Offline
• 2.2 Online
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Superfruits-  The superfoods market is thriving with the increasing consumer awareness and preference for healthier food options. Key players include chia seeds, quinoa, kale, and acai berries. These foods offer high nutritional value, boosting demand. Retailers and manufacturers are responding by expanding product lines and distribution channels. Consumers benefit from convenient options like packaged snacks and supplements. The market's growth is steady and continuous, driven by consumer trends and industry innovation.

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Research Analysis

The Superfoods Market encompasses a wide range of nutrient-dense foods, including Quinoa, fruits, vegetables, grains, nuts, and seeds. These superfoods are rich in essential nutrients such as Polyphenols, Antioxidants, Vitamins, and Minerals. They play a crucial role in combating health issues like Obesity and Diabetes. Phytonutrients, derived from plant sources, are another essential component of superfoods. Superfoods cater to various consumer bases, including Vegans, Vegetarians, and Meatatarians, who seek to incorporate healthier options into their evolving lifestyles.

The nutritional content of these foods surpasses that of traditional animal sources, making them a preferred choice for those seeking optimal health benefits. Global obesity rates continue to rise, emphasizing the need for incorporating superfoods into daily diets. Superfoods offer a diverse range of health benefits, making them an indispensable addition to a Vegetarian Diet or any other dietary preference.

Quinoa, rich in polyphenols, antioxidants, vitamins, and minerals, appeals to health-conscious consumers. Superfoods, including fruits, vegetables, grains, nuts, and seeds, support diets for vegans, vegetarians, and those managing obesity and diabetes. Evolving lifestyles drive interest in plant sources and nutritional content, highlighting health benefits and global obesity concerns.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Superfruits
• Superseeds And Supergrains
• Edible Seaweed
• Others
• Distribution Channel
• Offline
• Online
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio