Superfoods Market by Product and Geography - Forecast and Analysis 2020-2024

  • Published: Apr 2020
  • Pages: 120
  • SKU: IRTNTR40975
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The superfoods market size has the potential to grow by USD 244.68 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by product (superfruits, superseeds and supergrains, edible seaweed, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including 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.

Market Overview

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Market Competitive Analysis

The superfoods market is fragmented. The increasing export of superfoods is expected to create ample growth opportunities for vendors in the superfoods market. Natures Superfoods LLP, Navitas LLC, Rhythm Superfoods LLC, Sunfood, and Superlife Co. Pte. Ltd. are some of the major market participants. Although the increasing export of superfoods will offer immense growth opportunities, high threat from substitutes will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this superfoods market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this superfoods market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • 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.

Superfoods Market: Segmentation by Region

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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.

Over 33% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for superfoods in North America. Market growth in this region will be slower than the growth of the market in other regions.

Superfoods Market: Segmentation by Product

superfoods-market-share-by-distribution-channel

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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. This report provides an accurate prediction of the contribution of all the segments to the growth of the superfoods market size.

Superfoods Market: Key Drivers and Trends

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.

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. As a result, the global superfoods market size will grow at a CAGR of almost 17% during the forecast period.

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Superfoods Market: Key Highlights of the Report for the Forecast Period 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive superfoods market growth during the next five years
  • Precise estimation of the superfoods market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the superfoods industry across APAC, Europe, MEA, North America, and South America
  • A thorough 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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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The superfoods market growth will increase by $253.19 billion during 2019-2024.
The superfoods market is expected to grow at a CAGR of 17.35% during 2019-2024.
Technavio has segmented the superfoods market by product (Superfruits, Superseeds and supergrains, Edible seaweed, and Others) and geographic (North America, Europe, APAC, South America, and MEA).
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. are a few of the key vendors in the superfoods market.
North America will register the highest growth rate of 32.96% among the other regions. Therefore, the superfoods market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • Germany
  • UK
  • Canada
  • Australia
  • India
The key factors driving the superfoods market growth are:
  • Increasing export of superfoods
The superfoods market vendors should focus on grabbing business opportunities from the superfruits segment as it accounted for the largest market share in the base year.
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