USD 156.6 billion
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Report ID:
SQMIG30I2145 |
Region:
Global |
Published Date: July, 2024
Pages:
157
|Tables:
37
|Figures:
74
Superfood Market size was valued at USD 166 Billion in 2023 and is poised to grow from USD 175.96 Billion in 2024 to USD 280.44 Billion by 2032, growing at a CAGR of 6% during the forecast period (2025-2032).
Superfood demand has benefited from rising healthcare costs, ageing population, food innovations, changing lifestyles, and medical discoveries, which has led to market growth overall. The market is being further boosted by the growing desire for natural, nutrient-rich foods that contain vitamins and critical minerals. Growing worries about obesity and general health in the United States are also fostering market expansion.
Globally, the fruits and vegetable type category is expected to rise favourably as factors such as increasing middle-class population, increase in disposable income, rapid urbanisation, shifting consumer lifestyles, and growing veganism trend. The development of online grocery shopping, increase in branding, and technological improvements are some of the key trends seen in the aforementioned market. However, obstacles like price fluctuation, bad weather, and quality problems limit the expansion of the market. The target consumer group for the consumption of copious amounts of fruits and vegetables has been vegans and vegetarians. Additionally, by raising information about the nutrient content, meatatarians who are more predisposed toward meat consumption may be persuaded to choose vegetarianism.
US Superfood Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 156.6 billion
Largest Segment
fruits
Fastest Growth
fruits
Growth Rate
6% CAGR
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Global Superfood Market is segmented based on the type, application, distribution channel, and region. Based on the type, the Superfood Market is segmented into fruits, vegetables, grains & seeds, herbs & roots. Based on the application, the Superfood Market has been segmented into bakery & confectionery, snacks, beverages. By distribution channel, the Superfood Market is segmented into Supermarkets/ Hypermarkets, Online Channels, Traditional Grocery Stores, and, Convenience Stores. Based on Region, Superfood Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Superfood Market Analysis by Type
The fruits segment dominated global superfood market share. Fruits are a popular choice for people all around the world since they have advantages including less chances of nutrient deterioration and spoiling. Baby boomers make up another group of consumers for fresh produce and fruits. Younger people tend to be drawn to trendy diets like the raw food and paleo diets because they emphasise the health advantages of eating fresh produce. However, due to health issues, elderly people tend to have more of these good eating habits.
The grains and seeds segment is fastest growing segment. The high fibre content in grains helps people feel satisfied and full, which makes it easier to maintain a healthy weight. Additionally linked to a lower risk of diabetes and heart disease, whole grains. Human diets that include grains and seeds provide functional and nutritional advantages as well as a lower chance of developing chronic diseases. They offer the body a well-balanced meal that includes fatty acids, carbs, and proteins.
Superfood Market Analysis by Application
The beverages segment dominated the superfood market share in 2021. A relatively new application for superfoods is beverages, which is anticipated to expand moderately throughout the projected period. Superfood demand in beverages is expected to increase as people place more emphasis on living a healthy lifestyle and become more concerned about problems like obesity and nutritional deficiencies.
The bakery and confectionary segment is the fastest growing segment during the forecast period. Rising demand among bakers is anticipated to be driven by customer demand for inventive and delectable baked goods and confections. The rising demand for cakes and pastries prepared with fruits and grains is blamed for the expansion of the bakery and confectionary segment. As a result, the expansion of the segment is being driven by an increase in the consumption of wholesome foods.
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North America dominated the global superfood market share in 2021 owing to expanding acceptance of foods with high nutritional value and low calorie counts. Additionally, it is anticipated that the market would be driven by considerable R&D activities and the introduction of new monitoring methods.
The Europe market is expected to develop at the fastest rate during the forecast period. The Europe market is dominated by the UK. The expanding significance of food products with added fibre is blamed for the expansion of the Europe market. Additionally, the government makes ongoing attempts to promote the advantages of superfoods. With the assistance of non-governmental groups, the government is also putting together awareness campaigns for it.
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Superfood Market Driver
Growing consumer interest in a healthy diet
Superfood Market Restraint
Increasing competition of supplements provider
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Global Superfood Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Superfood Market Top Player's Company Profiles
Superfood Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Superfood Market analysis, Europe is expected to capture higher market share. The growth of the region is attributed to growing significance of food products with added fibre is blamed for the expansion of the market in the Europe region. The UK has emerged as a significant contributor to market growth in Europe. In terms of type, the fruit type segment dominates the market. This segment's leading position can be attributed to it filled with vitamins, minerals, fiber, and plant compounds. In terms of application, the Beverages application led the market and is predicted to grow at the fastest rate.
Report Metric | Details |
---|---|
Market size value in 2019 | USD 156.6 billion |
Market size value in 2031 | USD 264.57 billion |
Growth Rate | 6% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Superfood Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Superfood Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Superfood Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Superfood Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG30I2145
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