Superfood Market to reach the value of ~US$ 299 Bn in 2032 – FMI

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 As per Future Market Insights (FMI), the global superfood market totaled US$ ~166 Bn in 2022 and is expected to exhibit a CAGR of ~6% to reach the value of ~US$ 299 Bn in 2032.According to a study by Future Market Insights (FMI), the market will show a steady rise at 4.9% CAGR between 2019 and 2029. According to the report, the rising demand for healthy food will stoke growth of the market. The report covers various growth drivers and restrains impacting the market’s growth trajectory. It discovers hidden opportunities for market players and helps them identify the most lucrative segments within the superfood market.

The demand for superfood is influenced by umpteen factors from rising inclination towards trendy diets to changing food habits of baby boomers. In addition to this, food innovations and rising geriatric population will continue aiding the expansion of the market through the forecast period.

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However during the forecast period, Europe and Latin America are likely to exhibit more lucrative growth opportunities. In terms of product type, the market can be classified into fruits, vegetables, grain and seeds and herbs and roots. Of these, demand for fruits is likely to remain considerably high through the course of the forecast period.

It includes in-depth insights into the superfood market. Some of these are:

  • The estimated value of the market was at US$ 156.3 Bn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
  • Regionally, North America emerged as a key market for superfood.
  • Europe and Latin America will remain steady as key markets for superfood.
  • Fruits, among product types, is expected to remain the leading segment.
  • Key players are likely to focus on technological advancements and improving their online presence to stay relevant in developed markets.

“As a result of the rising application in food and beverages sectors, the superfood market will gain pace in the coming years,” said a lead analyst at FMI. “North America, Europe, and Latin America will offer lucrative growth opportunities to the market,” he added.

Rising Demand from Bakeries and Confectionaries Boosts Growth

Growth in the superfood market corresponds directly to the expansion of the food and beverages industry. For instance, the superfood market is witnessing steady rate of growth over the last few years, which is attributable to the rising application in bakeries and confectionaries. Superfood is slowly gaining ground in the beverages sector as well. The increasing health concerns among consumers are reflected in their beverage choices as well. Due to their rising influence, several leading companies in the beverages sector are introducing fresh fruit and vegetable juices and drinks, which is expected to give impetus to the market.

Ask More About This Report@ https://www.futuremarketinsights.com/ask-question/rep-gb-11053

Competitive Landscape

Some of the leading players operating in the superfood market are Sunfood, Barleans, Nature’s Superfoods LLP, OMG! Organic Meets Good, Suncore Foods Inc., Superlife Co. Pte Ltd., Raw Nutrition, ADUNA Ltd and others.

As a result of increasing competition, superfood market players are focusing on expanding their online presence and improving sourcing process. According to the report, the superfood market offers scope for the entry of new players aided by the continuous shift in preferences of consumers towards healthy food. This also creates growth opportunities for the leading market players. The established players in the global superfood market are focusing on expanding their regional footprint and improving their productivity through innovations in technology.

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