LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global superfoods market 2018-2022 to grow at a CAGR of close to 16% during the forecast period, according to their latest report.
This market research report segments the global superfoods market based on the type of products such as superfruits, superseeds and supergrains, edible seaweed, and other superfoods. The report also provides an analysis of the market’s growth prospects across geographic regions such as the Americas, APAC, and EMEA.
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Health benefits: a major market driver
Superfoods are nutritious items that are rich sources of polyphenols, anti-oxidants, vitamins, and minerals. Each superfood product packs various nutrients with different health benefits associated with them. They offer consumers a substantially high amount of nutrients with the minimum intake of calories. They play an instrumental role in prolonging the lifespan and minimizing the risk of chronic diseases while contributing to a healthier diet. Also, the consumption of superfoods has a body and skin-boosting effect, which helps consumers achieve and maintain a healthy weight.
According to a senior analyst at Technavio for food research, “The growing popularity of superfoods has resulted in an increase in the launch of new products that carry the superfood, supergrain, superfruit, label. Manufacturers have been developing strategies to increase the market size and demand for these products. Widely popular superfoods are marketed as nutrient-packed eatables. The number of food and beverage products that were launched between 2011 and 2015 with a superfood label has increased by more than 200 times.”
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Global superfoods market segmentation
Of the four product segments, the superfruits segment held the largest market share in 2017, accounting for over 51% of the market. However, the market share for this application is expected to decrease nearly 2% by 2022. The fastest growing application is the other superfoods segment which will increase by over 2% to account for close to 29% of the total market share by 2022.
The Americas was the leading region for the global superfoods market in 2017, accounting for a market share of 47%, followed by EMEA and APAC. Although, APAC has the smallest market share, it is expected to witness the maximum growth of close to 2% over the forecast period.
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