(MENAFN- GlobeNewsWire - Nasdaq) NEWARK, Del, May 25, 2023 (GLOBE NEWSWIRE) -- The global wheatgrass products market is anticipated to attain a valuation of US$ 62,400 million in 2023 and is expected to reach US$ 114,398.6 million by 2033, trailing a CAGR of 6% during the forecast period.
Globally, the growth of the organic wheatgrass products market is primarily driven by the increasing aging population, growing health awareness among consumers, as well as new developments and innovations. Furthermore, middle-aged and elderly populations have been observed to readily invest in these products to support their immune system.
The organic wheatgrass products market is experiencing strong growth due to its nutritional advantages. The increasing demand for plant-based nutritious products is a major catalyst in the development of the organic wheatgrass products market. Companies are actively expanding their research efforts to introduce new formulations, resulting in an expanded range of products that cater to diverse consumer needs and preferences.
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The demand for naturally nutritious ingredients like green vegetables, grasses, and seaweed is driving the consumption of green foods. As a result, the organic wheatgrass products market is experiencing significant growth due to its nutritional advantages. Wheatgrass juice, consumed as a morning meal, is recognized for its anti-inflammatory, antioxidant, anti-carcinogenic, immunomodulatory, and anti-bacterial properties. The increasing trend of consuming organic and healthy products is a key factor fueling the market's growth.
Over the past few years, there has been a surge in consumer interest worldwide towards plant-based functional food and beverages. Organic wheatgrass has emerged as a popular ingredient in various mainstream food and beverage products, adding functional properties. The market growth is expected to be driven by continuous innovation and product development efforts aimed at creating indulgent functional products using wheatgrass. For example, in March 2018, Amazing Grass, a California-based brand specializing in organic powdered supplements, introduced a new protein powder called Organic Protein and Kale, which includes organic wheatgrass powder.
Key Takeaways :
United States wheatgrass products market is expected to grow with a CAGR of 5.8% during the forecast period. The market in United Kingdom is expected to grow with a CAGR of 2.6% during the forecast period. By distribution channel, B2C segment is projected to grow with a significant CAGR of 6.4% during the forecast period. The market in India is expected to grow with an impressive CAGR of 24.6% throughout the forecast period.
“Increasing demand for plant based nutritious products is expected to drive market growth during the forecast period,” - comments an Analyst at FMI.
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Competitive Landscape :
The Wheatgrass products market is intensely competitive, with several key industry players investing heavily in providing these services.
The key industry players are Now Foods, Synergy Natural, Dynamic Greens Wheatgrass Juice, Navitas Organics, My protein, Pines International, Inc., Herbco International Inc, Nutriblade, Girmes Wheatgrass, E-Phamax, Terrasoul Superfoods, Naturya, ABE'S Organics, Nature Bell, Amazing Grass, Dr. Berg.
Some recent developments in the market are:
Key industry players are utilizing organic growth strategies like acquisitions, mergers, tie-ups, and collaboration to bolster their product portfolio. This is expected to propel the global wheatgrass products market.
In March 2021, JIVO Wellness, a New Delhi-based company, launched an exciting range of products, including a refreshing wheatgrass summer drink. To expand its reach, the company has formed partnerships with leading e-commerce platforms and superstores for widespread distribution. In February 2021, Living MaKa introduced its inaugural range of convenient and ready-to-drink wheatgrass beverages, aiming to make wheatgrass easily accessible to all. In July 2022, MaKa joined forces with UNFI and KeHE to enhance distribution, making their products available in independent and natural stores across various regions nationwide. In 2020, JIVO Wellness unveiled an expanded range of products, featuring organic basmati rice, muesli munch, choco flakes, wheatgrass summer drinks, and more. In September 2020, Nature's Path, a significant player in the industry, introduced a new product line consisting of superfood granolas and cups made from wheatgrass.
More Valuable Insights Available :
Future Market Insights offers an unbiased analysis of the global Wheatgrass Products market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the wheatgrass products market, the market is segmented on the basis of type, nature, end-use application, packaging type, distribution channel and region.
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Key Segments Profiled :
By Type:
By Nature:
By End Use Application:
Industrial Food & Beverages Nutraceuticals Personal Care & Cosmetics Pharmaceuticals Pet Food
Household
By Packaging Type:
Pouches Tins Bottles Sachets Capsules
By Distribution Channel:
B2B B2C Hypermarket/Supermarket Convenience Store Specialty Store Online Retailers Others
By Region:
North America Latin America Europe Asia Pacific Middle East and Africa
Table of Content ( ToC ):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (MT) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (MT) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
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About the Food and Beverage Division at Future Market Insights (FMI):
The food and beverage team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
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