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Superfoods Market by Type (Fruits, Vegetables, Grain & Cereals, Herbs & Roots, and Others); Distribution Channel (Supermarkets/Hypermarkets, Online Retail, Convenience Stores, Specialty Stores, and Others); and Geography - Global Forecast to 2030
Report ID: MRFB - 104971 Pages: 200 Jul-2024 Formats*: PDF Category: Food and Beverages Delivery: 24 to 72 Hours Download Free Sample ReportThe popularity of superfoods is rising due to changing lifestyles and the growing number of health-conscious consumers, positively impacting the demand for desirable nutrients. The growth of the superfoods market is mainly attributed to growing health & wellness trends, rising interest in plant-based nutrition, a growing number of health-conscious consumers demanding natural food ingredients, and changing lifestyles and rising incidences of chronic diseases. Furthermore, increasing awareness about superfoods and innovation and new product developments are expected to create market growth opportunities. However, high prices of superfood products are expected to hinder the growth of this market to some extent.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key strategic developments by leading market participants in the superfood market. Some of the key players operating in the global superfood market are Sunfood (U.S.), Glanbia plc (Ireland), Nature’s Superfoods (Part of Actspand Pte Ltd) (Singapore), Nestlé S.A. (Switzerland), The Kraft Heinz Company, Nutrisure Ltd (U.K.), Impact Foods International Ltd. (U.K.), OMG Food Company LLC (U.S.), Ocean Spray (U.S.), TERRASOUL SUPERFOODS (U.S.), Orgain, LLC. (U.S.), and Suncore Foods Inc. (U.S.).
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A steady increase in life expectancy and greater attention to quality has been witnessed in the past few decades. Consumers are becoming increasingly concerned about their health and are paying more attention to their lifestyles and dietary habits. According to the World Health Organization (WHO), undernutrition and specific nutrient deficiencies remain major challenges, with imbalanced diets and chronic diseases simultaneously becoming alarmingly common. Moreover, with rising obesity rates, an aging population, an increase in sedentary lifestyles, and increased consumer interest in health and nutrition, the demand for superfoods is also increasing across the globe.
In recent years, consumer awareness regarding health, nutritional enrichment, calorie reduction, and food safety has grown, especially in developed countries and high-income groups of developing countries, which is expected to transform the food & beverage industry and boost the growth of the superfoods market. The growing understanding of the importance of a proper diet and the young generation’s growing inclination towards fitness also support the growth of the superfood market.
The rise in the incidence of chronic diseases has also led to increased interest in personalized nutrition, which involves tailoring dietary recommendations to an individual's specific needs and health concerns. Superfoods can be key in personalized nutrition, providing targeted health benefits based on an individual's health needs.
Furthermore, the prevalence of chronic diseases and conditions such as diabetes, arthritis, and heart disease are on the rise globally. According to the World Health Organization (WHO), in 2022, noncommunicable diseases (NCDs) accounted for 41 million deaths yearly, equivalent to 74% of all deaths globally. Among these 41 million deaths each year related to NCDs, cardiovascular diseases accounted for 17.9 million deaths annually, followed by cancers (9.3 million), chronic respiratory diseases (4.1 million), and diabetes (2.0 million) deaths. Furthermore, according to World Health Organization (WHO) projections, the total annual number of deaths from NCDs will increase to 55 million by 2030 if timely interventions are not taken to prevent and control NCDs.
Nutrition and diet are important factors in the maintenance and promotion of good health throughout the entire life course. Chronic diseases are largely preventable diseases, and their prevention by modification in diet is a better option than expensive treatments. Superfoods can provide essential human nutrients. Hence, with the rising chronic disease burden, the demand for superfoods is growing, fueling the growth of the superfoods market.
Thus, the changes in lifestyle and rise in incidences of chronic diseases have increased the demand for superfoods that support better health, especially low-fat, cholesterol, protein-rich, and weight-control products. Also, all-natural and clean-label trends within the food and beverage market are expected to increase the demand for superfoods.
Based on type, the global superfoods market is segmented into fruits, vegetables, grains & cereals, herbs & roots, and others. In 2024, the fruits segment is expected to account for the largest share of the global superfoods market. The large market share of this segment is attributed to its functional properties, including rich antioxidants, minerals, and multivitamins; lower risk of nutrient degradation; and easy availability at lower prices.
Based on distribution channels, the global superfoods market is segmented into supermarkets or hypermarkets, online retail, convenience stores, specialty stores, and other distribution channels. The online retail segment is expected to register the highest CAGR during the forecast period. The growth of this segment is driven by factors such as the wide variety of options available at discounted rates compared to traditional retail stores and the convenience provided by online channels, such as doorstep delivery.
The superfoods market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of the superfoods market. The large market share of this region is attributed to the growing demand for nutritional supplements, high awareness of the health benefits of superfoods, and rising prevalence of chronic diseases, including cancer, diabetes, hypertension, stroke, heart disease, respiratory diseases, arthritis, obesity, and oral diseases; and growing health & wellness and clean label trends.
However, Asia-Pacific is slated to register the highest CAGR during the forecast period. The fast growth of this regional market is mainly attributed to factors such as changing lifestyles and rapid urbanization, the increasing number of supermarkets and hypermarkets, growing awareness about the health benefits of nutritional products, the emerging trend of healthy food & food ingredients, and the rising diabetic & obese population.
Key Questions Answered in the Report:
The superfoods market is projected to reach $281.9 billion by 2030, at a CAGR of 7.2% from 2024 to 2030.
The fruits segment is expected to account for the largest share of the superfoods market.
The online retail segment is slated to register the highest CAGR during the forecast period and provide significant opportunities for players in this market.
The major key players operating in the superfoods market are Sunfood (U.S.), Glanbia plc (Ireland), Nature’s Superfoods (Part of Actspand Pte Ltd) (Singapore), Nestlé S.A. (Switzerland), The Kraft Heinz Company, Nutrisure Ltd (U.K.), Impact Foods International Ltd. (U.K.), OMG Food Company LLC (U.S.), Ocean Spray (U.S.), TERRASOUL SUPERFOODS (U.S.), Orgain, LLC. (U.S.), and Suncore Foods Inc. (U.S.).
Asia-Pacific is slated to register the highest CAGR during the forecast period. The rapid growth of this region is mainly attributed to factors such as changing lifestyles and rapid urbanization, increasing number of supermarkets and hypermarkets, growing awareness about the health benefits of nutritional products, the emerging trend of healthy food & food ingredients, and the rising diabetic & obese population.
Published Date: Sep-2024
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Published Date: Jun-2024
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