Radiant InsightsThe report covers the present scenario and the growth prospects of the global superfoods market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The global superfoods market is anticipated to expand at phenomenal CAGR over the forecast period (2018 to 2022), according to a report available on Radiant Insights, Inc. Growing requirement for healthy and nutritious food among consumers is anticipated to propel demand for super foods. Such foods are likely to offer low calories and high nutrients. It can promote metabolism, digestive health, protect and detoxify organs from toxins, burns body fat, prevent heart disease and inflammation, and lower risk of cancer.
Growing demand for superfoods attributed to health benefits can augment growth of market. These foods are expected to be rich sources of anti-oxidants, polyphenols, minerals, and vitamins. Each superfood is likely to pack various nutrients with different health benefits associated with them. They can offer consumers substantially high amount of nutrients with minimum intake of calories. They can play an instrumental role in prolonging lifespan and minimizing risk of chronic diseases while contributing to healthier diet. This, in turn can stimulate growth of market. High demand for superfoods among consumers attributed to their ability to reduce risk of chronic diseases and increase lifespan can augment market growth during the forecast period (2018 to 2022).
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Recalls of multiple superfood products attributed to low quality can hamper market growth. Most manufacturers are expected to purchase raw materials from third party suppliers. Improper handling of these raw materials or supplies can affect safety and quality of finished products. Food safety compliance authorities in any country is expected to have right to shut down any business and recall its products from market if these products can pose threat to well-being of consumers.
To cater to rising demand, most companies are likely to invest in R&D activities to develop advanced products. For instance, Koia recently launched new product line which aims to integrate fruit with benefits of superfood in each variety. This product line is expected to be available in three flavors including mango crème, strawberry crème, and chocolate banana. According to company, these beverages are likely to be made from wholesome ingredients that consumers can see and recognize. They can provide one of the cheapest, low-sugar protein options in the market.
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The superfoods market can be segregated on the basis of product, application, and region. Based on product, the market can be categorized into superfruits, supersedes & supergrains, edible seaweed, and other superfoods. Superfruits are expected to account for largest market share. It is predicted to lead overall market during the forecast period.
Based on application, the superfoods market can be classified into online retail and offline retail. Offline retail sector is expected to dominate the market owing to easy availability for consumers. Consumers can pick and chose products according to their requirements and need.
Superfoods market regional segmentation includes Europe, Americas, Asia Pacific, and Middle East & Africa. Americas accounted for largest market share in past years. It is expected to lead overall market during the forecast period. Presence of major manufacturers in the region coupled with introduction of several food & beverage sector in superfood category can fuel growth. The United States is expected to be major consumer of superfoods in the region.
On the contrary, Europe and Asia Pacific are likely to have positive influence on future growth. Europe is likely to be second largest region with significant market share. However, Asia Pacific is estimated to grow at fastest pace with highest CAGR in foremost period. Developing countries including China and India are expected to be major consumers of superfoods in the region.
Some of the leading companies offering superfoods are Nutiva, Creative Nature, Ocean Spray Cranberries, Archer Daniels Midland, and Del Monte Pacific Group.
About Radiant Insights, Inc
Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy. Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.
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