The global superfood powders market is expected to exceed US$ 6.84 billion by 2023, with a 7% CAGR through 2033 to reach US$ 13.66 billion.
Superfood powders have made their way into local supermarkets and hypermarkets, as well as health food stores. While the veracity of these products’ benefits is still being discussed in various scientific circles, a large and growing demand for superfood powders is paving the way for innovative products and new businesses, according to a recent Future Market Insights (FMI) report.
Superfood powders are nutrition-rich products that offer specific health benefits, ranging from imploring immune system and detoxifying the body naturally, to boosting energy levels as well as sexual health.
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These products are considered suitable for adding significant nutrients to food and beverages – baked goods, yogurt, smoothies, and lattes – that are consumed on a daily basis.
Consumers perceive their health and well-being comprehensively, embracing a balanced set of lifestyle habits that scale up to a more general sense of feeling well. In addition, consumers are increasingly seeking food products with a functional boost, whether the product is a snack, beverage, or on-the-go meal.
Recent studies reveal that consumers have been increasingly turning to food and beverage choices that provide functional benefits over the recent past, yet the trend has gained significant momentum during the COVID-19 pandemic.
Superfood Powders Market Size Study
About 65% of consumers seek food and beverages with added functional ingredients, and 25% are actively looking for superfoods Functional ingredients such as moringa, maca, hemp, and matcha remain bestsellers East and South Asia to reflect potential growth prospects in the coming years
“Consumers are substantially looking for plant-based protein, with various startups delivering novel categories of alternatives to dairy and meat. As these startups build up, few are innovating new types of plant-based protein that go beyond soy or nuts. Algae protein, pea protein, and chickpeas are witnessing strong early-phase momentum,” says the analyst at FMI.
COVID-19 Impact on Superfood Powders Market
The COVID-19 pandemic has triggered notable change in consumer behavior, as consumers are substantially demand for health-centric food and beverages.
Some consumer-health firms in the US have registered rise in prevention- and immunity-oriented products amid the pandemic, with an over 40% y-o-y surge in sales of multivitamins.
Moving ahead, consumers are shifting from conventional channels to other channels for buying superfood powders in the wake of social distancing norms and stay-at-home orders. Online sales of grocery items soared by 20% y-o-y in Italy from February 23 through March 11, 2020.
Similar shifts in purchasing platforms are already in progress in the US, where online traffic for groceries has climbed up by at least 25%. Driven by these pandemic-led facts and figures, manufacturers of superfood powders are going online to lock in consumers through better-quality products.
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Key Segment
Nature
- Organic
- Conventional
Sales Channel
- Modern Trade
- Convenience Store
- Specialty Store
- Pharmacy Store
- Online Retail
- Other Sales Channels
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
Superfood Powders Market – Competitive Intelligence
The global superfood powders market remains highly competitive. As such, market players are differentiating their product portfolio with unique value propositions to firm their grip in marketplace.
Brandless has rolled out 15 new products including vitamins, superfood powders, supplements, and essential oils. The superfood powders comprise of plat-based protein, matcha, and maca. Moreover, all of the products are gluten-free, organic, and vegan. Nutiva has introduced Organic MCT Creamer that contain medium-chain triglycerides (MCT) extracted from coconut oil. Love Beets has developed ‘Love Beets’ superfood powder for health and fitness enthusiasts. These superfood powders are made with 100% beets, contain no additives, sugar or preservatives, and are non-GMO, gluten-free, and organic.
Want To Know More About Superfood Powders Market?
A new market research report published by Future Market Insights (FMI) on the global superfood powders market report offers comprehensive insights into the market demand trends and analysis of opportunities over the forecast period, 2020-2030. The report examines the superfood powders market through three different segments – nature, sales channel, and region. The superfood powders market report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the manufacturing of superfood powders and product adoption across several end-use industries
Superfood Powders Market Outlook & Key Findings
- Market to ride the global wave of ‘organic’ and ‘vegan’ trend
- Online channels gain prominence due to COVID-19 induced behavior changes
- Seeds, berries, and exotic algae powders to stay in-demand
- North America largest market, with the US accounting bulk of the demand
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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