Superfoods Market to Surpass $281.9 Billion by 2030

Redding California, February 16, 2024- Meticulous Research®, a leading global market research company, has unveiled a groundbreaking report titled 'Superfoods Market,' presenting a comprehensive analysis of this dynamic industry. Published on [XX, 2023], the report delves into the Superfoods market, examining types, distribution channels, and geographical trends. It anticipates the global Superfoods market to reach an astounding $281.9 billion by 2030, displaying a robust CAGR of 7.2% from 2023 to 2030.

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The report, which is a product of meticulous research and thorough analysis, sheds light on the driving forces behind the Superfoods market's growth. Factors such as the surge in health and wellness trends, increased interest in plant-based nutrition, a rising number of health-conscious consumers seeking natural food ingredients, and evolving lifestyles leading to a higher prevalence of chronic diseases contribute significantly to the market's expansion. The report also identifies the changing landscape and innovation in product development as catalysts for market growth. However, the high prices of superfood products pose a challenge to the market's growth.

Meticulous Research® has meticulously segmented the Superfoods market based on type (fruits, vegetables, grains & cereals, herbs & roots, and other superfood products), distribution channel (supermarkets or hypermarkets, online retail, convenience stores, specialty stores, and other distribution channels), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also provides a detailed analysis of industry competitors and evaluates the market at regional and country levels.

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Key Findings:
1. Type Segment: In 2023, the fruits segment is expected to dominate the market, holding the largest share. This dominance is attributed to the functional properties of fruits, including rich antioxidants, minerals, and multivitamins, along with their lower risk of nutrient degradation and easy availability at affordable prices.

2. Distribution Channel Segment: The online retail segment is projected to register the highest CAGR during the forecast period. This growth is attributed to the wide variety of options available at discounted rates compared to traditional retail stores and the convenience provided by online channels, such as doorstep delivery.

3. Geography Segment: In 2023, North America is expected to lead the market. The region's significant market share is attributed to the growing demand for nutritional supplements, high awareness of the health benefits of superfoods, and the rising prevalence of chronic diseases. Factors such as cancer, diabetes, hypertension, stroke, heart disease, respiratory diseases, arthritis, obesity, and oral diseases contribute to the region's robust growth. Additionally, the region experiences a surge in health and wellness and clean label trends.

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The global Superfoods market boasts a moderately competitive landscape, with participation from numerous large and small-sized global, regional, and local players. Key players operating in the global Superfoods market include Sunfood (U.S.), Glanbia plc (Ireland), Nature's Superfoods (Part of Actspand Pte Ltd) (Singapore), Nestlé S.A. (Switzerland), The Kraft Heinz Company, Nutrisure Ltd (U.K.), Impact Foods International Ltd. (U.K.), OMG Food Company LLC (U.S.), Ocean Spray (U.S.), TERRASOUL SUPERFOODS (U.S.), Orgain, LLC. (U.S.), and Suncore Foods Inc. (U.S.).

Mr. Khushal Bombe
Meticulous Market Research Inc.
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This release was published on openPR.