Superfoods Market Size, Share & Growth, Market Research and Industry Forecast Report, 2019-2025 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Superfoods Market


The global superfoods market size was estimated at USD 137.0 billion in 2018 and is projected to ascend at a CAGR of 5.9% over the forecast period. Growing consumer interest in a healthy diet and wellness benefits has led to a thriving food & beverage industry in the recent past and this trend is expected to continue over the forecast period. This, in turn, is projected to propel the demand for superfoods in the coming years.

Increasing healthcare costs, growing geriatric population, food innovations, changing lifestyle, and medical discoveries have benefitted the demand for superfoods and consequently the overall market growth. Ascending demand for natural, nutrient-rich food containing vitamins and essential minerals is further boosting the market for superfoods. Growing concerns in the U.S. regarding obesity and overall health are also contributing to the market growth.

Globally, fruits & vegetables type segment is set to experience favorable growth driven by factors such as rising middle-class population, upsurge in disposable income, rapid urbanization, changing consumer lifestyle, and rising popularity of veganism. This, in turn, is projected to drive the market for superfoods. The major trends observed in the aforementioned segment include rise of branding, technological advancements, and the advent of online grocery shopping. However, the growth of this budding segment is restrained by challenges such as volatility in prices, adverse weather conditions, and quality issues.

Vegans and vegetarians have been a target consumer base for the consumption of large amounts of fruits and vegetables. Moreover, meatatarians who are more inclined toward meat consumption can be prompted to opt for vegetarianism by creating awareness regarding the nutrient content.

Type Insights of Superfoods Market

On the basis of type, the market has been segmented into fruits, vegetables, grains & seeds, herbs & roots, and others. Fruits segment accounted for a revenue share of around 29.4% in the overall market for superfoods in 2018. Fruits is expected to emerge as a significant segment in the market in terms of growth over the forecast period.
Benefits of fruits such as fewer chances of nutrient degradation and spoilage make them a lucrative choice for consumers across the globe. Baby boomers are also a demographic for the purchase of fresh vegetables and fruits. Trendy diets such as the raw food diet and paleo diet underline the health benefits of fresh vegetables and fruits and are mainly appealing to the younger segment of the population. However, these healthy eating habits are more prevalent in the older population due to health concerns. Grains & seeds is projected to witness the highest CAGR of 6.8% over the forecast period.

Application Insights of Superfoods Market

On the basis of application, the superfoods market has been segmented into bakery & confectionery, snacks, beverages, and others. Beverages segment held around 28.4% of the overall market revenue share in 2018. Owing to rising consumer preference for healthy food & beverage products, the company Ocean Spray is focused on developing an extensive range of juice cocktails and a wide range of juice blends.

Beverages is a relatively new application for superfoods and is expected to grow at a moderate rate over the forecast period. Rising importance of leading a healthy lifestyle and concerns regarding various health issues such as obesity and nutritional deficiencies are factors anticipated to boost the demand for superfoods in beverages, thereby supporting the market growth.

Regional Insights of Superfoods Market

North America accounted for 39.4% of the total market revenue share in 2018 and is projected to witness growth over the forecast period on account of the rising popularity of products with high nutritional content and reduced calorie level. Furthermore, extensive R&D activities and the advent of new monitoring technologies are expected to drive the market for superfoods in this developed region.

Furthermore, Europe also accounts for a significant share in the global market for superfoods. Western Europe is characterized by the presence of mature, highly intensified systems. These systems benefit from favorable climatic conditions, availability of natural resources, advent of modern technology, highly educated farmers, and an organized distribution channel dominated by cooperatives. Optimized farming practices and efficient infrastructure enable the countries in Western Europe to occupy top positions in the global yields for key crops and to play a leading role in the production and export of several agricultural and livestock products; for instance, France (wheat and corn), the Netherlands (vegetables), and Iberia (fruits and vegetables).

Germany and the U.K. are expected to account for significant shares in the European market for superfoods on account of the rising importance of fiber-fortified products in these countries. Moreover, the governments of these countries and campaigns by various NGOs are engaged in creating more awareness regarding superfoods owing to their added health benefits. This, in turn, is expected to further boost the market growth over the forecast period.
The increasing health benefits associated with fresh fruits and vegetables and growing awareness regarding the same among the population are expected to contribute to the growth of this type segment in the future. The consumption of fresh fruits and vegetables is witnessing an increase both in terms of volume and revenue among the health-conscious American population due to their higher nutrient content along with fewer chances of fungal and bacterial contamination.

Market Share Insights of Superfoods Market

Superfoods market is highly competitive in nature and is driven by product offerings and consumer demand. The market offers various opportunities for new entrants owing to the continuous shift in consumer preferences toward healthy foods. This, in turn, creates various opportunities for the manufacturers of superfoods. Major players are concentrating on expanding their market share coupled with productivity through technological innovations.
Key companies in the market include Natures Superfoods LLP; Archer Daniels Midland; Del Monte Pacific Group; Creative Nature Superfoods; Ocean Spray; Nutiva; The Green Labs LLC; Suncore Foods; Apax Partners; Bulk Superfoods; and Supernutrients. The market is fragmented in nature with a large number of small-scale manufacturers and suppliers catering to the domestic markets.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Superfoods Market Research Report

This report forecasts revenue and volume growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the global superfoods market report on the basis of type, application, and region:

Type Outlook (Revenue, USD Million, 2019 - 2030)

  
Fruits
  
Vegetables
  
Grains & Seeds
  
Herbs & Roots
  
Others

Application Outlook (Revenue, USD Million, 2019 - 2030)

  
Bakery & Confectionery
  
Snacks
  
Beverages
  
Others