Unlocking Opportunities: The $330.67 Billion Superfood Market by 2034

In a recently revised edition of the global superfood market report, FMI has estimated that the industry is set to reach a net worth of US$ 183.58 billion in FY 2024. The intensifying craze for wellness and rapid demand for diet products are projected to fuel demand for superfoods.

The market in focus is expected to stretch at an average of 6.1% CAGR over the next decade, as brands ride on the emerging wave of superfood products. By 2034, the market is projected to reach US$ 330.67 billion.

Emerging Trends and Opportunities in Superfood Industry

Increasing cases of modern-day health issues like diabetes, cardiovascular diseases, obesity, osteoporosis, and cancer, are propelling people to increase their intake of healthy food items including superfoods.
Reduced nutrient content in modern-day foods is stimulating the demand for superfoods among the masses to enhance their nutritional intake.
Growing consumer demand for organic food products is positively impacting the superfood industry.
Emerging trends on social media platforms around any superfruit or supplement are expected to affect the online sales of superfoods.

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‘Super’ ingredients have grown significantly in popularity over the recent years as consumers are pulled towards natural and wholesome ingredients. This quality is making them more popular among individuals who prefer to eat healthily, they possess properties such as being high in antioxidants, having antibacterial properties, being rich in important nutrients, and also helping reduce inflammation.

Apart from these health benefits, superfoods are being highly demanded due to their compatibility with various needs and diverse takers, be it vegan, vegetarian, or meatatarians. Demand for fruits is likely to remain considerably high through the course of the forecast period owing to the advantages of fruits like fewer chances of nutrient degradation and spoilage.

The term superfood has no official regulatory definition and is eventually a marketing term for foods generally perceived as conferring health benefits. Due to the pandemic, the consciousness around fitness and nutrition has risen, pushing the consumption of superfoods like super grains and super fruits.

“The superfood market is being driven by rising health consciousness, rapid developments in supply-chain, and the increased reach of social media. Rising awareness about the super grains and super fruits along with conducive demographic changes are key factors for market expansion. The only restraint for the market remains competition from other healthy food products like supplements and probiotics,” says a lead analyst at Future Market Insights.

Key Takeaways from Market Study

North America leads the superfood market, it accounted for a significant share of 36% in 2021. Market growth in this region is expected to be faster than the growth of the market in the MEA, Europe, and South American regions.
Social media influence and easy access to information via the internet have been propelling the growth of the Superfood Market.
Companies have been making strides across the sector. In April 2020, Nestle launched ‘nesQino’ – a solution that enables consumers to personalize healthy superfood drinks made from 100% natural ingredients, at the office or home.
Super grains like Quinoa have been gaining popularity as it exhibits high nutrient and antioxidant value that aids in preventing several diseases as well as reducing free radicals.
Demand for super grain chia seeds is expected to grow at 6.80% CAGR, one of the highest in the Grains and Seeds segment of the market.

Profiling of 3 Top Players of Superfoods

Nutiva

Nutiva, based in the United States, is a pioneer of wholesome organic superfoods. The brand develops organic superfoods for chia, coconut, red palm, and hemp. The chief belief that governs Nutiva’s initiative is that a bright future is rooted in healthy food.

Rhythm Superfoods LLC

Rhythm Superfoods LLC, based in the United States, specializes in organic plant-based snacks. These snacks are rich in protein, fiber, and vitamins. The company’s product offering include savory and sweet snacks. The products of this company are easily accessible online and in retail outlets.

Sunfood Superfoods

Sunfood Superfoods is a United States company owned by a family. The business offers functional food, supplements, and grocery products. The company provides superfoods, functional blends, family-friendly, supplements, and nuts and seeds.

New Developments that are Shaping the Superfood Market

In November 2022, Conscious Food expanded its legacy further by introducing a brand new range of wholesome and nutritious superfood products for kids. The line is called ‘Superfoods for Superheroes’, offering unadulterated pre-mixes that make food for kids tasty and healthy in a matter of minutes.
In March 2023, Eatopia announced the release of its newest product, Superfood Millet Puffs in Dubai at Gulfood Exhibition in partnership with APEDA (Agricultural and Processed Food Products Export Development), which is an Indian Apex-export Trade Promotion Active government body that promotes India as the “supplier of choice” of value-added food and agro products in global markets.
In November 2022, Supreem Pharma introduced Supreem Super Foods in Pune and Mumbai, as the company aims to expand its presence in 2,000 stores across these cities.

Enlisted Below are Some Top Market Players