Market Research Future/MRFR's extensive research concludes that the superfoods market 2020 can demonstrate stellar growth over the evaluation period, which is between 2018 and 2023. We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
Top Boosters and Challenges
In October 2020, Laird Superfood launched its new RENEW Plant-Based Protein powder, bolstering its position in the superfoods industry. The new superfood consists of plant-based protein along with naturally found essential amino acids. The product contains no pea protein or rice or preservatives. Strategic new product launches such as these and other initiatives like acquisitions, mergers, expansion, and collaborations help the top firms in the market to boost their global presence and also results in significant revenue generation.
Some of the trends emerging in the global market include the rising brand awareness among consumers, technological developments, and the prominence of online shopping. Vegans are fast becoming the key consumer base in the market, with companies trying to cater to this demography for higher sales of their products. Also, high usage of the internet and the growing influence of the social media that provide extensive information are encouraging consumers to opt for superfoods, leading to robust sales worldwide. Superfoods have also become a common diet among the expanding geriatric populace that requires immunity boosting products, thereby facilitating significant market expansion.
Several important market participants have been analyzed and added to the report Archer Daniels Midland, Nutiva, Creative Nature, Del Monte Pacific Group, Sunfood Superfoods, NUA Naturals, Healthy Truth, and others. These players are actively developing new and innovative products which offer convenience while maintaining high nutritional value.
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The global superfoods market is segmented into distribution channel, product type, and application. Various types of superfoods exist and have been broadly classified in the report into superfruits, superseeds, super grains, edible seaweed, and other superfoods. Applications of these superfoods primarily include beverages, snacks, supplements, bakery & confectionery, and others. Distribution of superfoods and superfood items is broadly divided between store-based and nonstore based. Store-based distribution channels include supermarkets, hypermarkets, and others, while non-store based distribution channel largely discusses e-commerce.
North America and Europe represent key markets with similar growth patterns. North American, in particular, has a high population of obese individuals and diabetics who are looking for healthy food items to assist in managing their condition or reducing weight. As such, Superfoods Market have a high adoption rate in the region.
The Asia Pacific is another significant market of note due to the regions high ability to produce a number of superfoods which are natural to the region. For instance, ginseng, goji berries, and garcinia are among some of the more popular superfood items which are native to the region. Moreover, countries such as India and China have a long history of using highly potent and nutritious plants, fruits, and other superfoods to alleviate a variety of problems.
The Rest of the world also offers growth opportunities to the market, as items such as maca root, quinoa, and several others are popularly native to South American countries, thus driving production.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.