NEW YORK, Sept. 6, 2023 /PRNewswire/ — The superfoods market is expected to grow by USD 64.8 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 6.82% during the forecast period. The growing adoption of superfoods is notably driving the superfoods market. However, factors such as High threat from substitutes may impede market growth. The market is segmented by Product (Superfruits, Superseeds and supergrains, Edible seaweed, and Others), Distribution Channel (Offline and Online), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The FREE sample report is available in PDF format 

Key Segment Analysis

• The market share growth of the offline segment will be significant during the forecast period. Hypermarkets, supermarkets, sporting goods stores, department shops, and independent retailers are the offline distribution channels that generate revenue from selling products. To survive in the competitive market, retailers are introducing new retail and business strategies such as better pricing schemes and more comprehensive assortments. Furthermore, to achieve a high volume of sales, retail businesses place innovative displays in their selling strategies and on the Internet. Retailers are attempting to expand into other areas to increase their offline sales. In addition, during the forecast period, higher pricing strategies are also expected to drive market growth for superfoods. Hence, the above-mentioned factors are expected to drive the offline segment growth in the superfoods market during the forecast period. To know additional highlights and key points on various market segments and their impact in coming years, View the FREE PDF Sample Report.

Geographical Market Analysis 

• North America is estimated to contribute 31% to the growth of the global market during the forecast period. In North America, the US is the largest market for superfoods. Increasing consumer awareness of the broad range of health benefits provided by superfoods is a key factor driving market growth in the region. The strong growth of this market is due to the regular launch of superfood products. Avocados, acai berries, blueberries, and other berry varieties were some of the most popular fruits in the superfruit product category within the US market in 2020. In 2020, demand for superfoods was particularly high, including acai berries, blueberries, quinoa, amaranth, chia seeds and spirulina. In addition, Fermented foods, such as kefir, kombucha, sauerkraut, tempeh, kimchi, and miso, are likely to be the most widely consumed superfoods in the US during the forecast period. Furthermore, to meet the rising demand in this region, companies such as ArcherDanielsMidlandCo., NavitasLLC, and SunFOOD offer a variety of superfoods. Hence, these factors are expected to drive market growth during the forecast period.

Company Insights 

The superfoods market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including: Archer Daniels Midland Co., Barleans Organic Oils LLC, Cornish Seaweed Co. Ltd., General Mills Inc., Healthy Truth, ITC Ltd., Navitas LLC, Nirvaanic Life Foods Pvt. Ltd., Nua Naturals, Nutiva Inc., Nutrisure Ltd., Ocean Spray Cranberries Inc., OMG Food Company LLC, Power Super Foods, Rhythm Superfoods LLC, Suncore Foods Inc., Sunfood, Superlife Co. Pte. Ltd., Creative Nature Ltd., and NutriAsia Inc. View the FREE PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by Distribution

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio

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