Covid-19 Impact on Superfoods Market Insight and Industry Key Players Strategy | Healthy Truth, Creative Nature, Archer Daniels Midland, Del Monte Pacific Group, NUA Naturals | by Forecast to 2023

November 05 09:45 2020
Covid-19 Impact on Superfoods Market Insight and Industry Key Players Strategy | Healthy Truth, Creative Nature, Archer Daniels Midland, Del Monte Pacific Group, NUA Naturals | by Forecast to 2023

Superfoods Market
Covid-19 Impact on Superfoods Market has been demonstrating incremental growth since the last few years which Market Research Future (MRFR) believes should continue over the forthcoming years

Market Insight

Market Research Future/MRFR’s extensive research concludes that the superfoods market 2020 can demonstrate stellar growth over the evaluation period, which is between 2020 and 2023. We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.

Top Boosters and Challenges

In October 2020, Laird Superfood launched its new RENEW Plant-Based Protein powder, bolstering its position in the superfoods industry. The new superfood consists of plant-based protein along with naturally found essential amino acids. The product contains no pea protein or rice or preservatives. Strategic new product launches such as these and other initiatives like acquisitions, mergers, expansion, and collaborations help the top firms in the market to boost their global presence and also results in significant revenue generation.

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Rise in healthcare costs, food innovations, medical discoveries and evolving lifestyles are expected to fortify the preference for superfoods among consumers, thereby benefitting the global market. Heightened demand for nutrient-rich, natural food that contains essential minerals and vitamins in view of the rising health concerns and lifestyle diseases could also encourage market growth. The prevalence of obesity has been growing rapidly across the globe, with the highest number of cases registered in the US, which has strengthened the market value in the country. The demand is especially high for vegetables and fruits like berries and nuts, as the population of health-conscious individuals is expanding at a fast pace. In emerging countries like India and Japan, the demand for superfoods such as fish has been escalating among the middle-class segment, considering the rising disposable income, changing lifestyle and rapid urbanization.

Some of the trends emerging in the global Covid-19 Impact on Superfoods Market include the rising brand awareness among consumers, technological developments, and the prominence of online shopping. Vegans are fast becoming the key consumer base in the market, with companies trying to cater to this demography for higher sales of their products. Also, high usage of the internet and the growing influence of the social media that provide extensive information are encouraging consumers to opt for superfoods, leading to robust sales worldwide. Superfoods have also become a common diet among the expanding geriatric populace that requires immunity boosting products, thereby facilitating significant market expansion.

Key Competitors

Some of the key competitors in the global Covid-19 Impact on Superfoods Market are NUA Naturals, Sunfood Superfoods, Healthy Truth, NUTIVA, Creative Nature, Del Monte Pacific Group, Archer Daniels Midland, to mention a few.

Market Segmentation

The superfoods market has been dissected, considering segments like distribution channel, product type, and application.

Distribution channels that primarily sell all kinds of superfoods are store-based as well as non-store based. Store-based channels can be hypermarkets, supermarkets, and more, while the non-store-based segments are e-commerce and others.

Different types of superfoods that are available in the global Covid-19 Impact on Superfoods Market include superseeds, superfruits, edible seaweed, super grains, and others.

Applications of superfoods mainly include bakery & confectionery, snacks, beverages, supplements, and others.

Regional Analysis

Europe and Asia Pacific or APAC along with North America and RoW (Rest of the world) are the main markets for superfoods worldwide.

North America along with Europe forms the biggest market for superfoods. North America, in particular, observes better growth owing to the significant prevalence of obesity and diabetes, which drives the demand for healthy products such as superfoods that help manage their weight or condition. The highest demand is noted by superfoods like acai, spirulina, chia seeds, kale, goji berries and blueberries, especially among the growing population of health-conscious individuals. Many of these superfoods in the region are available in various forms, ranging from powders to supplements, which appeals to a bigger consumer base with different tastes.

Another market that stands out in terms of profits is APAC, as many of the emerging countries in the region are agrarian and possess the capacity to produce an extensive volume of superfoods. For instance, goji berries, garcinia and ginseng are the most commonly produced superfoods and are available in abundance in the region. Also, India and China are known for their extensive history of using nutritious and potent fruits, plants, and various superfoods that help alleviate various disorders and diseases. Other than this, the growing significance of a healthy lifestyle among consumers and their rising concerns with regard to health issues including nutritional deficiencies and obesity could also be conducive for further market growth in the following years.

RoW also represents significant growth potential as superfoods such as quinoa, maca root, and more are garnering popularity in various South American nations. The large-scale production of diverse superfoods and the rising uptake of effective farming practices are also adding to the RoW market’s value.

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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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