The global superfoods market is projected to grow at a CAGR of 5.1% during the forecast period (2021 - 2026).
The COVID-19 outbreak has come as a boon for the superfood manufacturers, as there was extensive demand for FMCG goods including processed and packaged functional food products. As the notion of healthy and nutritious eating got spread in the market during the pandemic, food products that align with the ongoing trend of healthy snacking and immune-boosting food and beverage products such as superfruits, quinoa seeds, chia seeds and others soared, hence creating additional demand for superfood on an industrial level.
The popularity of “Super” ingredients, often called ‘superfoods’, ’superfruits’, or ‘super grains has increased significantly over the recent past with product launches, as consumers are inclined more toward natural and wholesome ingredients. For instance, Quinoa exhibits high nutrient and antioxidant value that aids in reducing free radicals, and prevent several diseases.
These products have superior nutritional value, as they are rich sources of polyphenols, anti-oxidants, vitamins, and minerals. The market studied is driven by consumer preference toward functional and health-based naturally derived products. The popularity of ‘super’ products is used by food and drink manufacturers globally triggering the demand for these nutritional products.
Key Market Trends
Increasing Health and Wellness Trend
Consumers have become more conscious regarding personal wellbeing and aim to proactively improve it through healthy living rather than through the use of conventional medicines. This increased health awareness associated with consumer willingness to experiment has led to the development of superfoods that allow products to include superfoods ingredients. There is an increasing demand for plant botanicals or extracts, owing to the positive impact they inflict upon the heath. Thus these product offers consumers a substantially high amount of nutrients with a minimum intake of calories. It plays an instrumental role in prolonging the lifespan and minimizing the risk of chronic diseases while contributing to a healthier diet. Superfoods increase the metabolic rate, prevent cardiovascular diseases, diabetes, and boost weight loss. Thus, the growing number of new product launches is one of the key trends that will gain traction in the superfood industry.
North America is Holding a Prominent Share in the Superfoods Market
Superfoods have emerged as an increasingly significant category of health food products and related popular discourse about food, health, and values. These foods are for purported extraordinary nutritional and/or medicinal values, natural qualities, associations with exotic or pristine places of origin, and histories of traditional or indigenous use. The United States Food and Drug Administration (USFDA) announced that food manufacturers could now carry a qualified health claim on foods that contained omega-3 EFAs that linked omega-3 consumption with reduced risk of coronary heart disease.
The year-on-year sales of superfood ingredients in the United States have recorded a growth in the case of quinoa, chia seeds, kale, and strawberries, while blueberries witnessed a decline. SuperEats, the high-protein, low-carb, vegan snack company, introduced a product featuring the sacha inchi seed, along with pea protein. Sacha inchi seed is a significant source of omega-3 fatty acids and protein.
The superfoods market is highly competitive, with various regional and small players. These companies have collaboration and partnerships mostly in the form of co-operatives with farmers across the world, which has made the process of sourcing and procuring ingredients easier, thus, boosting the growth of the superfoods market. There exists a wide range of private-label brands as well, particularly the supermarket/hypermarkets chains in the developed markets and traditional grocery stores/convenience stores/specialty retail stores/health stores in the developing economies. Some of the prominent companies in the superfoods market include Sunfood, Supernutrients, Nestle, Nature's Superfoods LLP, OMG Superfoods, Aduna Ltd, and Navitas Natural.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
1.2 Scope of the Study
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5.1.3 Grains and Seeds
5.1.4 Herbs and Roots
5.1.5 Other Types
5.2 By Distribution Channel
5.2.1 Supermarkets/ Hypermarkets
5.2.2 Online Channels
5.2.3 Traditional Grocery Stores
5.2.4 Convenience Stores
5.3.1 North America
22.214.171.124 United States
126.96.36.199 Rest of North America
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 Rest of Asia-Pacific
5.3.4 South America
18.104.22.168 Rest of South America
5.3.5 Middle East & Africa
22.214.171.124 South Africa
126.96.36.199 Saudi Arabia
188.8.131.52 Rest of Middle East & Africa
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Nestle SA
6.4.3 Nature's Superfoods LLP
6.4.4 OMG! Organic Meets Good
6.4.5 Suncore Foods Inc.
6.4.6 Superlife Co. Pte Ltd
6.4.7 Raw Nutrition
6.4.9 Aduna Ltd
6.4.10 Raw Nutrition
A selection of companies mentioned in this report includes:
- Nestle SA
- Nature's Superfoods LLP
- OMG! Organic Meets Good
- Suncore Foods Inc.
- Superlife Co. Pte Ltd
- Raw Nutrition
- Aduna Ltd
- Raw Nutrition