Global Superfood market will reach USD 193.93 billion by 2025

The global superfood market was valued at USD 143.97 billion in the year 2019 and is estimated to reach USD 151.3 billion by the year 2020.

It is expected to grow at the CAGR of 5.9% within the time horizon of 2020-2025. Its market value will reach USD 193.93 billion by the end of the year 2025.

Definition / Scope
Market Overview
Market Risks
Top Market Opportunities
Market Drivers
Market Restraints
Industry Challenges
Technology Trends
Pricing Trends
Regulatory Trends
Market Size and Forecast
Market Outlook
Technology Roadmap
Distribution Chain Analysis
Competitive Factors
Key Market Players
Strategic Conclusion
References
Appendix

Definition / Scope

Superfoods are varieties of food with high nutritional benefits and good for one’s health. These food products are rich in fibers, vitamins, antioxidants, polyphenols, and minerals. It assists to strengthen the immune system, promote metabolism, protect the body from wear & tear, and prevent chronic diseases (heart diseases, cancer, diabetes, etc).

The most common names of the superfoods are blueberries, salmon, kale, nuts, beans, acai, etc. Here, Quinoa is the most used super grain with high nutrient and antioxidant value. The global superfood market is concerned with the manufacture, distribution, and sale of the superfood products.

Based on the type of product and applications, the global superfood market is categorized into the following types

Market Overview

The total market size of the global superfood market is valued at USD 143.97 billion in the year 2019 and is expected to reach USD 151.3 billion in the year 2020. Its market value is expected to grow at a CAGR of 5.9% within the forecasted time horizon of 2020-2025.

Its market value is expected to reach USD 193.93 billion by the end of the year 2025. Based on geography, the North American region is leading the global market with a market share of almost 39.72% of the total global superfood market.

The market size of this region is valued at USD 57.18 billion in the year 2019.

Based on the product type, the fruits segment is leading the market with a market share of almost 36.11% of the total global superfood market. The market size of this segment is valued at USD 51.99 billion in the year 2019.

Based on application, the bakery & confectionery segment is leading the market with a market share of almost 44.44% of the total global superfood market. The market size of this segment is valued at USD 63.98 billion in the year 2019.

Increasing consumer consciousness about food ingredients, health benefits associated with the consumption of superfoods, rising burden of chronic diseases, and the rising popularity of veganism are the factors responsible for the growth and development of the global superfood market.

However, negative health effects associated with the consumption of certain superfoods and the high price rate of superfood products might restrain the growth and development of this market.

Market Risks

The factors that are creating a risk for the growth and development of the global superfood market are negative health effects associated with the consumption of certain superfoods, false claims of the companies, unrealistic expectations of the customers towards the consumption of superfood.

The major factors creating the risk for the growth and development of the global superfood market are discussed as follows:

Negative health effects associated with the consumption of certain superfoods

Some of the superfoods can cause adverse and negative health effects to the consumers. For instance, kale (dark green vegetables packed with vitamin A, Vitamin C, vitamin K, manganese, potassium, and copper) can interfere with the thyroid function.

Chia seeds can inhibit the absorption of certain minerals in the body and quinoa contain potentially gut-irritating compounds. Along with this, some of the superfoods are cautious about the specific ill-conditions.

For instance, goji berries shouldn’t be consumed in case of arthritis. The negative health effects associated with the consumption of certain superfoods might restrain the growth and development of the global superfood market.

False claims of the companies

Globally, some of the companies engaged in the global superfood market are making the flase promises about the health level of these superfood items. For instance, the European Union Food regulator has rejected almost 149 claims submitted by the companies about the relationship between the antioxidants contained in food and specific health effects in preventing diseases and ageing.

The false claims of the superfood products negatively influence the trust and belief of the consumers towards the superfood products. It might restrain the growth and development of the global superfood market.

Top Market Opportunities

Rising popularity of veganism

Globally, the interest of the population in the veganism is in increasing trend. Within the past five years from 2014 to 2019, the interest in veganism has been increased by almost seven-fold. Along with this, the order for vegan meals is also increased by almost 388% within the past two years.

The number of vegans is also rising globally. For instance, the number of vegans in Great Britain has reached 600,000 in the year 2019, increased from 150,000 in the year 2014. It has been expected that the vegetarians will account for a quarter of the British population by the end of the year 2025.

The increasing popularity and interest of the global population on the veganism will create demand for fruits, vegetables, super grains, etc, which will ultimately create a significant opportunity for the growth and development of the global superfood market.

Rising burden of chronic diseases

Globally, almost one in three adults has multiple chronic diseases. The prevalence and incidence of chronic illnesses such as diabetes, cancers, cardiovascular are in increasing trend.

According to the World Health Organization, the prevalence of chronic diseases is expected to increase by 57% by the end of the year 2020. It has been estimated that chronic diseases will account for about 75% of total global deaths. Here, almost 71% of the deaths will occur from ischemic heart disease, 75% from stroke, and 70% of the deaths from diabetes in developing countries.

The use of superfood is associated with the prevention and control of chronic diseases and health disorders such as cardiovascular diseases, cancer, obesity, etc. For instance, the consumption of omega-3 rich foods such as fish, chia seeds can prevent heart diseases.

The rising burden of the chronic health conditions and association of the consumption of the superfood with its prevention and control will create a significant opportunity for the growth and development of the global superfood market. Along with this, the existing pandemic outbreak of COVID 19 disease will also drive the demand for the superfood as the consumers use the superfoods to boost their immunity status.

Market Drivers

The factors driving the growth and development of the global superfood market are increased consumption of nutrient-rich foods, changing the diet of people, consumer inclination towards the naturally-derived personal care products prepared from superfood ingredients such as avocado, turmeric, coconut oil, honey, etc, multiple health benefits associated with consumption of superfood, and increasing consumer consciousness about food ingredients.

The major driving factors of this global superfood market are discussed as follows:

Increasing consumer consciousness about food ingredients

Globally, the level of awareness and consciousness of the consumers towards the use of the food products with natural ingredients and health impacts of the artificial food ingredients on health. For instance, a survey conducted by Ingredion in Asia-Pacific has revealed that almost 80% of the consumers are concerned regarding the long-term impacts of the artificial food ingredients on their health.

Along with this, almost 70% of them are aware of every ingredient in their food products. Because of this, the demand for the food products derived from the natural ingredients is in increasing trend. The rising consumer awareness and concern about food ingredients are driving the growth and development of the global superfood market.

Health benefits associated with the use of superfoods

The superfood products are in high anti-oxidants, which can prevent coronary heart diseases, cancer, and other chronic diseases. For instance, the berries with a high level of flavonoids can lower the risk of a heart attack.

The governmental, food-based research organizations and other organizations have supported the use of the claim of the health benefits associated with the use of the superfood and also recommended for its use.

For instance, the Food and Drug Administration of the United States has approved that the food manufacturers can label the qualified health claim on the food products that contain the omega-3-essential fatty acids.

Along with this, the American Heart Association has also recommended the consumption of omega-3 rich foods such as fish, chia seeds to prevent heart diseases.

The health benefits associated with the consumption of superfood and recommendation from the popular health-based organizations about its use is driving the growth and development of the global superfood market.

Market Restraints

High price rate of superfood products

The price of superfood products is quite in comparison to the other normal food products. For instance, the average price of the super berries such as goji, acai is almost ten times high than the other humble berries such as raspberries, blackberries, and apples.

A survey conducted by the University of Washington to compare the prices of 370 foods at the supermarket has found the average price of the low-calories based nutritious food is almost USD 18.16 per 1000 calories while the average price of the energy-dense food is at USD 1.76 per 1,000 calories.

Along with this, the average price of low-calorie nutritious food is expected to increase at a high rate i.e. increased by almost 19.5% within two years while the high-calorie has dropped their prices by almost 1.8%.

The high price and increasing price rate of the superfood products might restrain the growth and development of the global superfood products market.

Industry Challenges

Highly fragmented market

In the context of the global superfood market, there are several small and local market players engaged in the promotion and manufacture of superfood products.

The major market players engaged in this market are Sunfood, Naturya Bath, OMG! Organic Meets Good, Suncore Foods, Impact Food International, Supernutrients, Aduna Ltd, Superlife Co, Raw nutrition, Power Super Foods, etc.

Because of the presence of a large number of local market players, it is quite challenging for the key market players to establish their market value.

Technology Trends

The innovative advanced technologies are assisting in the development of the new superfood products. For instance, fermentation technology can be used to produce healthy bacteria, which helps to strengthen digestive health, enhance heart health, and reduce the depression symptoms.

The major new trends expected in the superfood market are fermented food, superfood oils, super seeds, powders, and others. These innovative superfood trends are creating a favorable environment for the growth and development of the global superfood market.

Pricing Trends

The price of the superfood products depends upon the type of product, application, types of distribution channels, the form of product, and brand name.

For instance, the price of dried chia seeds ranges from USD 4.91 per kg to USD 9.21 per kg while the price of the natural chai seeds ranges from USD 2.46 per kg to USD 10.23 per kg.

The price of the geo natural super berry max is USD 13.63 per unit while the price of the organific Go packs green juice is about USD 79.99 per unit. The average price of low-calorie nutritious superfood products is expected to increase at a rate of 19.5% annually.

Regulatory Trends

The regulations related to the superfood products differs following the country. In most of the countries such as the United States, no specific definition of the superfood has been given by the regulatory authorities.

In the European Union, the marketing of the superfood products is prohibited until and unless these products are accompanied and supported by the authorized claim and scientific research.

In the context of the United Kingdom, the Advertising Standards Authority has banned the term superfood from the brand name as the superfood product market doesn’t follow the requirement of the Nutrition and Health Claims Regulations.

The specific health claim of the superfood products must be scientifically approved by the European Food Safety and Authority. The superfood market should follow the European Union EC regulations, article 13.1 health claims to claim any food product as a superfood product.

Market Size and Forecast

Its market value is expected to reach USD 193.93 billion by the end of the year 2025.

Based on geography

The North American region is leading the global market with a market share of almost 39.72% of the total global superfood market. The market size of this region is valued at USD 57.18 billion in the year 2019.
The European region accounts for a market share of almost 28.61% of the global superfood market. The market size of this region is valued at USD 41.19 billion in the year 2019.
The Asia Pacific region accounts for a market share of almost 24.16% of the global superfood market. The market size of this region is valued at USD 34.79 billion in the year 2019.
ROW stands for the rest of the world, which includes, Middle East Africa, and the South American region. This segment accounts for a market share of almost 7.5% of the global superfood market. The market size of this segment is valued at USD 10.79 billion in the year 2019.

Based on the product type

The fruits segment is leading the market with a market share of almost 36.11% of the total global superfood market. The market size of this segment is valued at USD 51.99 billion in the year 2019.
The vegetable segment accounts for a market share of almost 11.11% of the global superfood market. The market size of this segment is valued at USD 15.99 billion in the year 2019.
The grains & seeds segment accounts for a market share of almost 22.22% of the global superfood market. The market size of this segment is valued at USD 31.99 billion in the year 2019.
The herbs & roots segment accounts for a market share of almost 27.77% of the global superfood market. The market size of this segment is valued at USD 39.99 billion in the year 2019.

Based on application

The bakery & confectionery segment is leading the market with a market share of almost 44.44% of the total global superfood market. The market size of this segment is valued at USD 63.98 billion in the year 2019.
The snacks segment accounts for a market share of almost 26.94% of the global superfood market. The market size of this segment is valued at USD 38.79 billion in the year 2019.
The beverages segment accounts for a market share of almost 21.11% of the global superfood market. The market size of this segment is valued at USD 30.39 billion in the year 2019.

Market Outlook

The global superfood market is expected to grow at the CAGR of 5.9% within the forecasted time horizon of 2020-2025 because of increasing consumer consciousness about food ingredients, health benefits associated with the consumption of superfoods, the rising burden of chronic diseases, and the rising popularity of veganism.

Its market value will reach USD 193.93 billion by the end of the year 2025.

Technology Roadmap

The adoption of the new advanced technologies will create a favorable environment to promote the growth and development of the research activities on superfood products.

The superfood trend expected to occur in its market is super seed, moringa, Chaga mushrooms, cassava flour, maqui berries, tiger nuts, probiotic waters, etc. These new superfood trends are driving the growth and development of the global superfood market.

Distribution Chain Analysis

The key stakeholders involved in the operation of this market are Superfood farming and processing, superfood product manufacturers, distributors, sales, and end-users.

At first, the superfood products such as berries, chia seeds are cultivated by the farmers and are supplied for the product manufacturers for packaging and processing.

The superfood products are available through supermarkets, online channels, convenience stores, traditional grocery stores, health stores, and other distribution channels.

Competitive Factors

The key market players engaged in this global superfood market are focused on the product portfolio expansion, high investment in research and development activities, mergers & acquisitions, geographical expansion, and collaborations.

For instance, in January 2020, Archer Daniels Midland has expanded acquisition with Yerbalatina Phytoactives in Brazil. Along with this, they are competiting for the development of the new products and pricing of the products.

For instance, Nutiva has launched new organic MCT Creamer (a powdered plant-based creamer with medium-chain triglycerides from coconut oil) in October 2019. They are focused on the development of the e-commerce platform for superfood products to increase the avaialbiltiy and accessibility of these products.

Key Market Players

The key market players engaged in the operation of its market are Sunfood, Naturya Bath, OMG! Organic Meets Good, Suncore Foods, Impact Food International, Supernutrients, Aduna Ltd, Superlife Co, Raw nutrition, Power Super Foods, etc. Short profile of the key market players engaged in the global superfood market are discussed as follows:

Sunfood Super Foods: It is the US-based company engaged in the manufacture of the smoothie, superfood blends, green superfoods, cacao, maca, plant-based protein, and supplements.

Naturya Bath: It is the UK-based company engaged in the manufacture of superfood products. Its major products are single ingredients products, blends, breakfast boosts, plant proteins, and spreads.

OMG! Organic Meets Good: It is the US-based company engaged in the provision of superfood products such as vitamins, minerals, antioxidants, and polyphenols for the consumers.

Suncore foods: It is the US-based company engaged in the provision of organic, vegan, and gluten-free superfoods.

Impact food international: It is the UK-based leading company specialized in the provision of the highest quality organic superfoods.

Supernutrients: It is the based company engaged in the production of cacao & coconut, fruits & berries, grasses & greens, herbs & roots, natural sugars, plant protein, and seeds & grains.

Strategic Conclusion

The global superfood market is growing at a rate of almost 5.9% because of increasing consumer consciousness about food ingredients, health benefits associated with the consumption of superfoods, rising burden of chronic diseases, and the rising popularity of veganism.

However, negative health effects associated with the consumption of certain superfoods and the high price rate of superfood products might restrain the growth and development of this market.

References

Appendix

USD= United States Dollar
CAGR= Compound Annual Growth Rate