The global superfoods market size is poised to grow by USD 244.68 billion during 2020-2024, progressing at a CAGR of about 17% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Superfoods Market 2020-2024 (Graphic: Business Wire)
The health benefits of superfoods are boosting their popularity among end-users. Superfruits are rich in fibers, vitamins, antioxidants, polyphenols, and minerals which help in digestion, strengthening the immune system, muscles and bones, and protecting the body from wear and tear. The growing health consciousness and the need for leading a healthier lifestyle are also contributing to the increasing demand for superfoods. To cater to this demand, vendors are offering superfoods in various forms including powders, snacks, mixes, and shots. In addition to the need for superfoods from the beauty and personal care products segments, the health benefits of superfoods will also drive market growth.
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The major superfoods market growth came from superfruits segment. Superfruits are rich in nutrients and antioxidants that prevent or delay cell damage. The numerous health benefits of superfruits will boost their demand during the forecast period. Market growth in this segment will be slower than the growth of the market in the superseeds and supergrains, edible seaweed, and other segments.
North America was the largest superfoods market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Growing consumer awareness about various health benefits offered by superfoods and frequent product launches under the superfood category will significantly influence superfoods market growth in this region.
The global superfoods market is fragmented. Archer-Daniels-Midland Co., Creative Nature Ltd., Del Monte Pacific Ltd., General Mills Inc., Healthy Truth, Natures Superfoods LLP, Navitas LLC, Rhythm Superfoods LLC, Sunfood, and Superlife Co. Pte. Ltd. are some of the major market participants. To help clients improve their market position, this superfoods market forecast report provides a detailed analysis of the market leaders.
As the business impact of COVID-19 spreads, the global superfoods market 2020-2024 is expected to have Positive and Superior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Increasing Application of Superfood Ingredients in Beauty and Personal Care Products will be a Key Market Trend
The growing awareness about the side effects