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The teff market share is expected to increase to USD 1.54 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 15.26%.
This teff market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers teff market segmentation by product (conventional teff and organic teff) and geography (Europe, North America, APAC, South America, and Middle East and Africa). The teff market report also offers information on several market vendors, including Bobs Red Mill Natural Foods Inc., Ceres Enterprises Ltd., COSTA CONCENTRADOS LEVANTINOS, King Arthur Baking Company Inc., PROBIOS SpA, SHILOH FARMS, TEFFCOM, THE TEFF CO., Tobia Teff UK Ltd., and Wild For among others.
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The growing awareness of the benefits of teff is notably driving the teff market growth, although factors such as the fluctuating price of teff may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the teff industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Teff Market Driver
One of the key factors driving the global teff industry growth is the growing awareness of the benefits of teff. Vitamins such as vitamin B2 and vitamin B6 are present in the grain in addition to minerals such as potassium, phosphorus, magnesium, manganese, and zinc. About two ounces of teff offer 7 grams (0.25 ounces) of proteins. Some of the benefits of teff have been listed below:
Teff also helps to reduce celiac diseases, relieve menstrual cramps, support energy production, and more. Such benefits of teff will drive the market growth in the forecast period.
Key Teff Market Trend
Online trends is one of the key teff market trends that is expected to impact the industry positively in the forecast period. E-commerce business accounts for around 12% of the world's retail trade. Internet retailing is expected to gain popularity in the US. The internet penetration rate in the US in 2016 was nearly 90%. Most consumers prefer to purchase products through online mediums and pay for their orders through cards or other cashless transferring techniques, which help them to avoid time-consuming billing queues. Online shopping platforms now also provide better security features for payments and efficient customer service, along with enhanced product visibility. This trend is encouraging various superfood vendors to focus on the internet-friendly customer set and enter online retail formats, which will further support the market growth.
Key Teff Market Challenge
One of the key challenges to the global teff industry growth is the fluctuating price of teff. Teff is one of the most priced cereals in Ethiopia. White teff is the most expensive variety of teff followed by mixed teff and red teff. The price of teff increased steadily from January 2015 till October 2016. Since October 2016, the prices of teff have reduced continuously. The highest decline in price was observed in Assela and Ambo. The growing gap between demand and supply in recent years has substantially increased the raw material costs. An increase in the price of raw materials not only increases the manufacturing cost but also leads to reduced profit margins for vendors, which may hamper the market growth in the coming years.
This teff market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global teff market as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the teff market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the teff market encompasses successful business strategies deployed by the key vendors. The teff market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The teff market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the teff market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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36% of the market's growth will originate from Europe during the forecast period. Germany, the UK, and France are the key markets for teff in Europe. Market growth in this region will be faster than the growth of the market in South America and MEA.
The significant increase in the number of health-conscious consumers and increasing demand for gluten-free foods and flours will facilitate the teff market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 pandemic reduced the demand for teff and teff-based products in the region in 2020 and early 2021, as various retail stores and restaurants were shut temporarily. However, the COVID-19 pandemic also led to a rise in demand for superfoods like teff, owing to the increase in health awareness among people. This had a positive impact on the demand for teff in 2020. However, the ongoing war of Russia and Ukraine has severely impacted the key supply chains of superfoods, including teff, which has drastically increased the prices of superfoods including teff. This, in turn, is negatively impacting the growth of the Teff market in Europe, which is expected to be the same during the forecast period.
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The teff market share growth by the conventional teff segment will be significant during the forecast period. Conventional teff helps in boosting immunity, improving digestion, improving cardiovascular health, balancing hormone levels, and aiding in weight loss. It is a super-seed with numerous health benefits, which will boost its demand in the coming years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the teff market size and actionable market insights on post COVID-19 impact on each segment.
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Teff Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 15.26% |
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Market growth 2022-2026 |
$ 1.54 billion |
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Market structure |
Concentrated |
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YoY growth (%) |
14.19 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 36% |
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Key consumer countries |
US, Australia, Germany, UK, and France |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Bobs Red Mill Natural Foods Inc., Ceres Enterprises Ltd., COSTA CONCENTRADOS LEVANTINOS, King Arthur Baking Company Inc., PROBIOS SpA, SHILOH FARMS, TEFFCOM, THE TEFF CO., Tobia Teff UK Ltd., and Wild For |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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