Tracking the Expansion of Superseeds Market Size, Driven by a 7.4% CAGR, Set to Exceed $78.16 Billion by 2030
NEW YORK, June 9, 2023 /PRNewswire/ -- As per Zion Market Research study, The global superseeds market size was worth around USD 44.09 billion in 2022 and is predicted to grow to around USD 78.16 billion by 2030 with a compound annual growth rate (CAGR) of roughly 7.4% between 2023 and 2030.
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Superseeds Market: Overview
The segment industry deals with research and the associated production of supersedes that are gaining popularity due to several health benefits associated with the consumption of these seeds. Some examples of the most commonly consumed superseeds are hemp seeds, flaxseeds, pumpkin seeds, and chia seeds. The food & beverages (F&B) sector promotes these seeds as nutritionally-dense food items as they are considered excellent sources of protein, fiber, healthy fats, vitamins, and minerals. They are highly versatile as they can be consumed in several forms and along with other edible products as well. Some ways of consumption include adding them in smoothies, salads, or yogurt, or using them as a topping for oatmeal or baked goods. In the last decade, the industry has shown tremendous growth and is projected to grow at a rapid rate during the forecast period.
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Key Industry Insights & Findings of the Superseeds Market Reports:
- As per the analysis shared by our research analyst, the global superseeds market is estimated to grow annually at a CAGR of around 7.4% over the forecast period (2023-2030)
- In terms of revenue, the global superseeds market size was valued at around USD 44.09 billion in 2022 and is projected to reach USD 78.16 billion by 2030.
- The superseeds market is projected to grow at a significant rate due to the growing demand for healthy food products
- Based on distribution channel segmentation, offline was predicted to show maximum market share in the year 2022
- Based on application segmentation, bakery & confectionery was the leading in 2022
- On the basis of region, North America was the leading revenue generator in 2022.
Zion Market Research published the latest report titled "Superseeds Market By Distribution Channel (Online And Offline), By Application (Bakery & Confectionery, Snacks & Savory, Convenience Food, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" into their research database.
Industry Dynamics:
Superseeds Market: Growth Drivers
- Increasing demand for healthy food products.
The global superseeds market is projected to witness high growth owing to the increasing demand for healthy food items. As the population rate of health-conscious consumers is growing exponentially, the demand for nutritionally rich food products has soared in the last few years. One of the major causes for the high demand is the impact of Covid-19 and its after-effects as more people have started taking their health seriously. A 2020 report submitted by the International Food Information Council (IFIC), stated that almost 85% of the American population was attempting to introduce healthier food items to their diet. 54% of the same survey group claimed that they had amped up their efforts after Covid-19. Such factors are responsible for more demand for superseeds that are known to be excellent sources of several beneficial nutrients like vitamins and minerals to name a few.
Superseeds Market: Restraints
- Easy availability of alternatives to restrict the market growth.
One of the key factors that greatly limits global superseeds market growth is the relatively easier access to other alternatives that provide comparable results and at lower prices. Some examples of substitutes are legumes such as lentils, chickpeas, black beans, nuts, leafy green vegetables, and whole grains. These products are readily available and the cost of purchasing these items is considerably low. In addition to this, more people are aware of the substitutes as compared to the awareness rate for superseeds further restricting the market growth.
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Superseeds Market: Opportunities
- Investment toward new product development to provide excellent growth opportunities.
The global superseeds industry players can benefit by investing in new product development and by using exhaustive marketing techniques. The products are more likely to be successful in the segments of snacks and packaged foods. With the growing trend of more people spending on exotic food products or items that are made of unique ingredients, the growth potential for the industry remains large. In addition to this, the producers can also explore the online retail segment to tap into newer or unexplored regions by selling the products even in remote locations.
Superseeds Market: Challenges
- Severe regulatory challenges to restrict market expansion.
The global superseeds industry faces challenges in terms of managing the labeling and associated complexities of superseeds. For instance, the products are labeled as nutrient-rich items but there is a lack of sufficient research and scientific data that can back this claim. This has resulted in many incidents where suppliers and producers of superseeds-based products were questioned by legal authorities to submit proof of the claims mentioned on the label. Several countries have issued guidelines that impact the labeling process thus impacting the industry expansion trajectory.
Global Superseeds Market: Segmentation
- The global superseeds market is segmented based on distribution channel, application, and region.
Based on distribution channel, the global market segments are online and online. The industry registered the highest growth in the offline segment as currently, the largest distributor of superseeds takes place through health food stores since they specialize in the sale of organic and natural food products. Furthermore, these agencies employ experts of knowledgeable staff who are correctly able to promote the product by providing accurate information. However, with time and the growing shift of various sellers on online channels such as social media platforms and e-commerce websites, the online segment is expected to grow at a higher CAGR as compared to previous years during the forecast period. As per the Food and Agriculture Organization (FAO) of the United Nations (UN), the average annual production of hemp seeds is close to 150,000-200,000 metric tons.
Based on application, the global market is segmented into bakery & confectionery, snacks & savory, convenience food, and others. In 2022, the industry growth was led by the confectionery & bakery segment where the seeds are used in baked goods like bread, muffins, and cakes, as well as in snack bars and granola. Some of the most commonly used in the segment are chia and hemp seeds. Snacks and savory products are also significant to the industry's growth as different forms of seeds are used as snacking items. For instance, trail mix, nut clusters, and roasted seeds. The convenience food products segment is steadily growing with the addition of superseeds in protein bars and instant oatmeal. In 2019, the European bakery industry generated over €170 billion in revenue.
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List of Key Players in Superseeds Market:
- Spectrum Naturals
- Navitas Organics
- The Chia Company
- Nutiva
- Terrasoul Superfoods
- Health Warrior
- Manitoba Harvest Hemp Foods
- Garden of Life
- NOW Foods
- Hain Celestial Group
- Bob's Red Mill Natural Foods
- Enjoy Life Foods
- Barlean's Organic Oils
- SunOpta Inc.
- Carrington Farms
- Kashi Company
- Nature's Path Foods
- Ancient Harvest
- Sunfood Superfoods
- Eden Foods
- Flora Inc.
- Hempco Food and Fiber Inc.
- The Superseed Company
- Vitality Foods Inc.
- Organic Gemini.
- Others
Key questions answered in this report:
- What are the growth rate forecast and market size for Superseeds Market?
- What are the key driving factors propelling the Superseeds Market forward?
- What are the most important companies in the Superseeds Market Industry?
- What segments does the Superseeds Market cover?
- How can I receive a free copy of the Superseeds Market sample report and company profiles?
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Recent Developments
- In January 2023, Wow Life Science, an Indian brand with a wide portfolio of product offerings, announced the launch of the country's first peanut butter with superfoods acting as key ingredients. The brand has launched two variants. One range consists of superseeds, namely sunflower, watermelon, pumpkin, and chia, and the other range called 'sattu' is made of roasted 'chana' powder.
- In March 2021, India Gate Basmati Rice, one of India's first and largest integrated rice brands, announced the extension of its product portfolio by launching roasted flax seeds and chia seeds thus entering the health segment. The products are called Active Heart Special Roasted Flax Seeds and Wholesome Health Special Chia Seeds and were made available for purchase using an omni-channel strategy.
Regional Dominance:
- North America to continue its dominance.
The global superseeds market is expected to witness the highest growth in North America owing to the increasing use of superseeds and superfoods in the nations of the US and Canada. The former is home to a growing number of health-conscious populations that are equipped with high disposable income allowing them to spend on unique and expensive food items. In addition to this, the food & beverages industry in the US is one of the fastest-growing sectors across the globe. It is witnessing a large set of investments for product research and launch. With the emergence of new domestic players that offer quality superseeds-based edible items, the regional market is expected to surge in the coming years. Growth in Europe may be propelled by the increasing consumption of organic food items and the presence of key industry players.
Global Superseeds Market is segmented as follows:
Superseeds Market: By Distribution Channel Outlook (2022-2030)
- Online
- Offline
Superseeds Market: By Application Outlook (2022-2030)
- Bakery & Confectionery
- Snacks & Savory
- Convenience Food
- Others
Superseeds Market: By Region Outlook (2022-2030)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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- Microbial Rennet Market: The global microbial rennet market size was worth around USD 702.31 million in 2022 and is predicted to grow to around USD 1,145.97 million by 2030 with a compound annual growth rate (CAGR) of roughly 6.31% between 2023 and 2030.
- Desiccated Coconut Powder Market: The global desiccated coconut powder market size was worth around USD 4.76 billion in 2022 and is predicted to grow to around USD 6.34 billion by 2030 with a compound annual growth rate (CAGR) of roughly 3.82% between 2023 and 2030.
- Relaxation Beverages Market: The global relaxation beverages market size was worth around USD 370 Million in 2022 and is predicted to grow to around USD 1300 Million by 2030 with a compound annual growth rate (CAGR) of roughly 15.21% between 2023 and 2030.
- Sesame Milk Market: The global sesame milk market size was worth around USD 5.60 Billion in 2022 and is predicted to grow to around USD 7.94 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 2.10% between 2023 and 2030.
Browse through Zion Market Research's coverage of the Global Food & Beverage Industry
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