The population in the world has started to move from consuming food as the basic fulfillment of hunger and survival to using it as a means to achieve nourishment and wellbeing. The following study demonstrates that the superfood market is in its growing stage as global interest in healthy living increases in tandem with rising levels of health-related problems.
Accoring to the MarketsandMarkets study, rising health awareness among consumers and the growing need to fulfill the growing demand for healthy foods are the major factors driving the manufacturers in the health & nutrition industry to invest in the rising opportunities in the superfoods industry. Superfoods have a very high nutritional value; they contain substantial amounts of functional ingredients such as vitamins, minerals, antioxidants, and flavonoids.
Ingredients such as antioxidants help to offset free radicles from the body. Several research studies have proven that the consumption of high amounts of antioxidants and flavonoids in the form of superfoods helps to prevent heart diseases and others diseases, such as cancer; and improves the overall immunity. According to a research paper titled “The Role of Functional Foods, Nutraceuticals, and Food Supplements in Intestinal Health” published by the University of Maribor in 2010, appropriate dietary formulations could help to prevent about one-third of all cancer deaths in industrialized countries.
Superfoods include berries (blueberries and raspberries), soy, green tea, leafy green vegetables, dark chocolates, wine, chia seeds, grapes, eggs, legumes, nuts & seeds, kefir, garlic, olive oil, turmeric, avocado, and seaweed.
Figure 1 PRODUCT LAUNCHES BY KEY PLAYERS, 2018–2019
Source: Company website, Press release and MarketsandMarkets analysis
Increasing occurrences of chronic diseases propelling growth in the North American and European markets
Consumers in North America are gradually becoming aware of the health benefits of superfoods. In 2017, the US dominated the North American superfoods market. The reason for this can be the growing demand for nutritional and healthy foods among the consumers in this region. Some of the other factors driving this market include the increasing adoption of superfood ingredients in restaurant menus, growing elderly population, and an increase in health-related problems. In 2017, the country also reported the highest number of new product launches in this market, followed by Germany.
In the European region, cardiovascular diseases, obesity, and diabetes remain major diseases. This is owing to the high consumption of processed foods in this region. As a result, there is a paradigm shift in people’s preferences toward healthy foodstuffs coined as “superfoods”. These factors are attributable to the dominance of the European market in the global superfoods market.
The global superfoods market is at its growing stage. Manufacturers in this market are introducing superfoods in various convenient formats and forms to increase their presence. The most-consumed forms of superfoods in the market comprise supplements in the form of powders, snacks, mixes, and shots. The market is categorized into the superfruits, super seeds, super grains, edible seaweeds, and other superfoods segments.
In 2018, superfruits segment accounted for the largest share of the in the global superfoods market. According to SIAL, a subsidiary of the Comexposium Group, 71% of people in France and Russia, 70% of people in the US, 86% of people in the Middle East, 83% of people in China, and 95% of people in South East Asia prefer foods enriched with super-fruits.
The key players operating in the superfoods market are Archer Daniels Midland (US), Del Monte Pacific Group (Singapore), Navitas Organics (US), Ocean Spray (US), Creative Nature Ltd. (UK), Healthy Truth (US), The Green Labs LLC (US), and Rhythm Superfoods (US). These players adopted various business strategies such as new product launches, expansions, acquisitions, agreements, collaborations, and partnerships in the last few years to meet the growing demand for superfoods. For instance, in January 2019, Rhythm Superfoods (US) launched carrot snacks and pickled beet chips. It also plans to launch new organic crunchy mango bites, organic watermelon slices, and organic pineapple chips in the coming years.