Superfoods Market Global Demand and Forecast to 2023

Market Overview

The term Superfood is an umbrella term used for foods which boast various health benefits owing to its high nutrient density and the compounds it contains. The term is not commonly used by dietitians, nutritional scientists, and other experts. The nutrient-rich natural food sources contain health essentials like enzymes, minerals, vitamins, amino acids, and antioxidants in abundance. Superfoods typically contains over 12 nutritional properties. The global superfoods market is showcasing incremental growth rate in recent years, and according to the report documented by Market Research Future (MRFR), the growth trajectory is slated to continue over the forthcoming years.

The report identifies the widespread trend of superfoods consumption on a global scale to be due to the growing awareness amongst consumers regarding their health and wellbeing. Superfoods cater to the needs of health-conscious consumers by providing abundant nutrients and preventing them from diseases. Furthermore, shifting consumer inclination towards clean label, natural and organic ingredients is a massive drive to the global superfoods market. The trend of superfood items or products has spread from the food industry into the food supplement industry. Rising skepticism concerning processed ingredients is pushing the usage of superfoods in food supplements. Innovative product launches are also likely to continue its positive influence over the market growth in the coming years. F&B manufacturers are incorporating superfood ingredients in their product offerings to tap on to the potential demand from health-conscious consumers.

Although superfoods are enjoying healthy popularity globally, the major competition arrives from other superfoods. Natural immune enhancing food supplements, prebiotics, and probiotics are few of the other competitive sources that can limit the market growth of superfoods. Also, changing trends in superfoods every year, the expensive pricing of the products, and lack of availability across different regions can be a major hindrance to the superfoods market growth.

Competitive Analysis

Some of the market participants of the Global Superfood Market are Nutiva, Archer Daniels Midland, Sunfood Superfoods, Creative Nature, NUA Naturals, Del Monte Pacific Group, Healthy Truth, and others. The market players are continuously innovating and developing new products that offer convenience as well as high nutritional value to the consumers.

Market Segmentation:

The globular superfood market is segmented on the following basis: by application, by product type, and by distribution channel.

Based on application, the market includes Beverages. Supplements, Bakery & Confectionary, Snacks, and others. Bakery and confection are the prominent market dominator in terms of revenue, which is driven by the introduction of new products into the segment.

Based on product type, the market comprises Superseeds and Supergrains, Superfruits, Edible Seaweed, and other Superfoods.

Based on the distribution channel, the superfoods market is divided into store-based, i.e., supermarkets or hypermarkets and non-store based, i.e., e-commerce.

Regional Analysis:

The regional market segmentation of the global superfood market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW).

Both North America and Europe constitute as the key market players with similar growth patterns observed in the same. North American region comprises of a strikingly high population of obese individuals and diabetics who are looking to turn towards healthy food choices, thereby increasing the consumption rate of the Superfood market therein.

Asia-Pacific (APAC) is another prominent regional market due to its ability to produce a high number of superfoods that are natural to the region. Ginseng, garcinia, and goji berries are some of the most popular superfood items that are native to the APAC region. Additionally, countries like India and China have a long history of utilizing highly potent and nutritious fruits, plants, and other superfoods to curb down or improve a variety of health problems or concerns.

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RoW also offers growth opportunities to the superfood market, because of items such as quinoa, maca root, and others being native to South American nations, thereby driving the production.

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