The global superfood market size is expected to reach US$ 229.2 Bn by the end of 2029. According to a study by Future Market Insights (FMI), the market will show a steady rise at 4.9% CAGR between 2019 and 2029. According to the report, the rising demand for healthy food will stoke growth of the market. The report covers various growth drivers and restrains impacting the market’s growth trajectory. It discovers hidden opportunities for market players and helps them identify the most lucrative segments within the superfood market.
It includes in-depth insights into the superfood market. Some of these are:
- The estimated value of the market was at US$ 156.3 Bn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- Regionally, North America emerged as a key market for superfood.
- Europe and Latin America will remain steady as key markets for superfood.
- Fruits, among product types, is expected to remain the leading segment.
- Key players are likely to focus on technological advancements and improving their online presence to stay relevant in developed markets.
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“As a result of the rising application in food and beverages sectors, the superfood market will gain pace in the coming years,” said a lead analyst at FMI. “North America, Europe, and Latin America will offer lucrative growth opportunities to the market,” he added.
Rising Demand from Bakeries and Confectionaries Boosts Growth
Growth in the superfood market corresponds directly to the expansion of the food and beverages industry. For instance, the superfood market is witnessing steady rate of growth over the last few years, which is attributable to the rising application in bakeries and confectionaries. Superfood is slowly gaining ground in the beverages sector as well. The increasing health concerns among consumers are reflected in their beverage choices as well. Due to their rising influence, several leading companies in the beverages sector are introducing fresh fruit and vegetable juices and drinks, which is expected to give impetus to the market.
Who is Winning?
Some of the leading players operating in the superfood market are Sunfood, Barleans, Nature’s Superfoods LLP, OMG! Organic Meets Good, Suncore Foods Inc., Superlife Co. Pte Ltd., Raw Nutrition, ADUNA Ltd and others.
As a result of increasing competition, superfood market players are focusing on expanding their online presence and improving sourcing process. According to the report, the superfood market offers scope for the entry of new players aided by the continuous shift in preferences of consumers towards healthy food. This also creates growth opportunities for the leading market players. The established players in the global superfood market are focusing on expanding their regional footprint and improving their productivity through innovations in technology.
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Get Valuable Insights into Superfood Market
Future Market Insights, in its new report, presents an unbiased analysis of the global superfood market, covering historical demand data and forecast figures for the period between 2019 and 2029. The study divulges compelling insights into growth witnessed in the market. In terms of type, the market is segmented into fruits, vegetables, herbs and roots, grain and seeds, and others. By distribution channel, the market can be classified into hypermarkets/ supermarkets, online channels, traditional grocery stores, convenience stores and other. Regionally, the market covers North America, Latin America, APEJ, Japan, Oceania, Europe, and the Middle East and Africa.
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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