LONDON--(BUSINESS WIRE)--The global superfoods market size is poised to grow by USD 244.68 billion during 2020-2024, progressing at a CAGR of about 17% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The health benefits of superfoods are boosting their popularity among end-users. Superfruits are rich in fibers, vitamins, antioxidants, polyphenols, and minerals which help in digestion, strengthening the immune system, muscles and bones, and protecting the body from wear and tear. The growing health consciousness and the need for leading a healthier lifestyle are also contributing to the increasing demand for superfoods. To cater to this demand, vendors are offering superfoods in various forms including powders, snacks, mixes, and shots. In addition to the need for superfoods from the beauty and personal care products segments, the health benefits of superfoods will also drive market growth.
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Report Highlights:
- The major superfoods market growth came from superfruits segment. Superfruits are rich in nutrients and antioxidants that prevent or delay cell damage. The numerous health benefits of superfruits will boost their demand during the forecast period. Market growth in this segment will be slower than the growth of the market in the superseeds and supergrains, edible seaweed, and other segments.
- North America was the largest superfoods market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Growing consumer awareness about various health benefits offered by superfoods and frequent product launches under the superfood category will significantly influence superfoods market growth in this region.
- The global superfoods market is fragmented. Archer-Daniels-Midland Co., Creative Nature Ltd., Del Monte Pacific Ltd., General Mills Inc., Healthy Truth, Natures Superfoods LLP, Navitas LLC, Rhythm Superfoods LLC, Sunfood, and Superlife Co. Pte. Ltd. are some of the major market participants. To help clients improve their market position, this superfoods market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global superfoods market 2020-2024 is expected to have Positive and Superior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Increasing Application of Superfood Ingredients in Beauty and Personal Care Products will be a Key Market Trend
The growing awareness about the side effects of synthetic cosmetics is inducing consumers to choose natural beauty products over conventional beauty products. Consumers prefer to buy personal care products that are made from superfood ingredients such as avocado, turmeric, coconut oil, and honey. This has encouraged personal care product manufacturers to focus on developing natural beauty products with superfood ingredients. This increasing application of superfood ingredients in beauty and personal care products will be one of the key trends that will have a positive impact on the growth of the superfoods market size.
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Superfoods Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist superfoods market growth during the next five years
- Estimation of the superfoods market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the superfoods market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of superfoods market vendors
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Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- Superfruits - Market size and forecast 2019-2024
- Superseeds and supergrains - Market size and forecast 2019-2024
- Edible seaweed - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Product
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher priced units
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Archer-Daniels-Midland Co.
- Creative Nature Ltd.
- Del Monte Pacific Ltd.
- General Mills Inc.
- Healthy Truth
- Natures Superfoods LLP
- Navitas LLC
- Rhythm Superfoods LLC
- Sunfood
- Superlife Co. Pte. Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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