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The global superfoods market is driven by the rising popularity of superfoods among consumers. The growing trend of health and wellness is anticipated to fuel market growth during the forthcoming years. Furthermore, the increasing number of food and beverages that are launched under the label of superfoods, superfruits, and super grain is expected to benefit the market growth. For instance, in December 2019, Sprout Living, a US-based provider of pure and potent plant-based protein powders and functional foods, announced the launch of an extension to their best-selling Epic Protein line. The new Epic Protein Premium includes the addition of powerful superfoods and adaptogens. The line extension includes three different variants.
The health benefits associated with superfoods due to their high content of vitamins, minerals, antioxidants, and fibers are projected to drive the market growth in the forthcoming years. The consumers are more inclined towards natural and wholesome food ingredients, which they can easily incorporate in their balanced-diet. Chia seeds, quinoa, berries, avocado are some of the most consumed superfoods which exhibit the high nutrient value that helps in the prevention of several diseases such as diabetes, high cholesterol, obesity, and others.
Key Market Driver -
Increasing Incorporation of Superfoods in Dietary Supplements
Key Market Restraint -
High Price of the Raw Material
Superfoods contains significant amount of antioxidants, which are molecules that protect the body’s cells from free radicals. Antioxidants limit the damage caused by free radicals and also boost the immunity of the body. The increasing awareness of health benefits associated with superfoods and rising spending on health-benefiting foods is anticipated to drive the global superfoods market in the forthcoming years. The intensifying demand for wholesome and nutritious snacks that can be consumed on-the-go such as cereal bars containing super grains and superfruits is expected to act as one of the crucial drivers in the growth of this market. The demand for food products that include superfoods is becoming popular among consumers due to enlarging consumer interest in healthy snacking and plant-based edibles. The food franchise and manufacturers found that consumers seem to be more willing to try something new when it is added with a twist - for example, chia seeds and lotus seeds in smoothie bowls.
High prices of raw material such as superfruits, super vegetables, super grains, and others are expected to act as a restraint for the growth of the global superfoods market. High raw material cost is linked with the high price of the final product, which is expected to hamper consumer acceptance of the product especially across developing regions.
The prominent players operating in the global superfoods market are Ocean Spray, Nutiva, Archer Daniels Midland, Nature’s Superfoods LLP, Del Monte Pacific Group, Creative Nature Superfoods, The Green Labs LLC, Suncore Foods Inc., Supernutrients, The Superfood Company, and others.
Superfruits are anticipated to witness considerable growth in the global superfoods market owing to the increasing adoption of superfruits by food manufacturers. In recent years, consumers are willing to pay extra for premium quality and clean label products such as superfoods. Superfruits, grains, and vegetables are becoming increasingly popular as a part of a balanced and healthy diet. Super grains and vegetables are a great source of protein and carbohydrate among the vegan and vegetarian population. The increasing consumption of plant-based superfoods among vegan and vegetarian consumers is anticipated to drive the super grains market. For instance, in April 2016, PepsiCo announced to launch of an extension to their Quaker line-up with four new products featuring super grains such as quinoa.
The bakery and confectionery segment is anticipated to hold a significant share in the global superfoods market, followed by beverages such as juice and smoothie. The enlarging demand for innovative and tasty bakery and confectionery products among consumers is anticipated to boost the demand for superfoods among baked goods manufacturers. The rise in the launch of juices and smoothies with the inclusion of desirable superfoods by key market players is further projected to enhance their application across the segment. For instance, in April 2017, Del Monte Foods Inc. launched a new smoothie kit line made from superfruits. The smoothies are available in a variety of sizes at the selected locations across North America. The super fruit smoothies are claimed by the company to be 100% fresh, healthy, and convenient. Furthermore, another great way to consume superfoods is through dietary supplements and superfoods powders. The wide and easy availability of dietary supplements containing superfoods is expected to drive the global superfoods market.
Europe is anticipated to witness substantial growth in the global superfoods market owing to the high acceptance of products with high nutritional content and low-calorie level. The favorable climatic conditions for the cultivation of raw products, the availability of advanced technologies for farming practices and presence of aware and educated farmers are expected to impact the market growth positively. The supportive government initiatives in economies such as Germany and the U.K, coupled with launch of campaigns by various NGO’s to create more awareness about superfoods is expected to boost the market growth during the forecast years.
North America accounts for a significant share in the global market of superfoods owing to the high purchasing power of consumers. The companies operating in this market are focused on new product launches to increase their footprints in the North American market. For instance, in January 2020, Shamrock Farms, U.S. dairy company, launched its Rockin’ Protein range with a new variant that combines the benefits of protein and superfruits.
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Asia Pacific market is anticipated to witness ample growth in the global superfoods market owing to rapid urbanization and changing eating habits across the region. The rapidly rising obesity across the region is the primary reason for healthy snacking instead of fatty food consumption. The increasing working population and lack of physical activity due to the busy lifestyle in countries such as Japan, China, and Australia is projected to boost the demand for processed food products containing healthy ingredients such as superfoods.
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