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Oct 31, 2023

Wheatgrass Products Market to grow by USD 63.96 million from 2022 to 2023; High demand for superfoods is a key trend influencing the market

News provided by 05 Jun, 2023, 05:15 ET Share this article NEW YORK, June 5,

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05 Jun, 2023, 05:15 ET

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NEW YORK, June 5, 2023 /PRNewswire/ -- The wheatgrass products market to grow by USD 63.96 million at a CAGR of 6.12% from 2022 to 2027, according to the latest research report from Technavio. High demand for supplements is notably driving the wheatgrass products market growth. According to Technavio's analysts, dietary supplements are one of the fastest-growing industries globally. Research suggests that growing awareness of personal health and well-being due to changing eating habits and busy lifestyles is expected to boost the demand for wheatgrass supplements during the forecast period. Increasing urbanization and rising disposable incomes will lead to nutritional deficiencies. There is an increasing demand for products that can be handled more conveniently. View Sample Report!

The wheatgrass products market covers the following areas:

Wheatgrass Products Market SizingWheatgrass Products Market ForecastWheatgrass Products Market Analysis

Discover Wheatgrass Products industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View Sample Report!

Vendor Landscape

The wheatgrass products market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Companies Mentioned

Vendor Offerings

For market's vendor landscape highlights with a comprehensive list of vendors and their offerings - View Sample in a minutes

Key Market Segmentation

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What's New? -

Regional Market Outlook

North America is estimated to contribute 30% to the growth of the global wheatgrass products market during the forecast period. North America will hold the largest market share in 2022. With the increasing purchasing power of consumers, the United States has emerged as a major market for wheatgrass products in North America. Growing geriatric population, growing interest in healthcare, and rising interest in health through nutrition are expected to drive the market growth during the forecast period. The proliferation of fitness centers, health clubs, and gyms, coupled with the growing fitness awareness of young people, will increase the need for energy and weight management. Demand for wheatgrass supplements is expected to increase as the sport becomes more accepted as a profession. Consumers in the region are beginning to realize the health benefits of consuming wheatgrass regularly, increasing demand for wheatgrass products. Rising healthcare costs across the region are expected to have a positive impact on market growth during the forecast period.

For more key highlights on the regional market share of the above-mentioned countries.- View Sample Report

Key Market Dynamics

Driver

High demand for supplements is notably driving the wheatgrass products market growth: High demand for dietary supplements is driving the growth of the wheatgrass products market in particular. Dietary supplements are one of the fastest-growing industries. The demand for wheatgrass supplements is expected to increase during the forecast period due to increased awareness of personal health and well-being due to changing dietary habits and hectic lifestyles. Increasing urbanization and rising disposable incomes lead to malnutrition. The demand for products that are easier to handle is increasing. Wheatgrass-based supplements are taken for their antioxidant properties that help prevent cancer. Taking wheatgrass supplements may lower cholesterol and reduce the risk of heart disease. Growing consumer awareness of personal health and well-being is expected to be the major driver for wheatgrass dietary supplements during the forecast period.

Trend

High demand for superfoods is a key trend influencing the wheatgrass products market growth: Antioxidants such as vitamin C and vitamin E in wheatgrass make it a preferred choice for health-conscious consumers. The antioxidants in wheatgrass reduce oxidative stress and protect the body against health problems such as arthritis, cancer, and neurodegenerative diseases. Wheatgrass is considered a superfood due to its low calorie content and high nutritional value. Superfoods are nutritious foods that are believed to have health benefits beyond their basic nutritional value.

Growing consumer awareness of the health benefits of superfoods, increasing demand for natural and organic products, and increasing prevalence of chronic diseases such as diabetes, heart disease, and cancer are driving the demand for superfoods. It is rising. Demand for superfoods has increased significantly over the past few years and is expected to continue increasing during the forecast period.

Challenge

The challenging regulatory environment is impeding the wheatgrass products market growth: The growth of the market has increased the need for government intervention and strengthened regulations on the production, distribution, safety testing and efficacy labeling of dietary supplements. Over the past decade, the U.S. Food and Drug Administration (FDA) has tightened safety standards for consumable food and drugs, resulting in an increase in dietary supplement labeling violations. For this reason, wheatgrass product manufacturers must be careful when making claims about the nutritional value and efficacy of their products and avoid misrepresentation.Strict regulations are also in place during manufacturing to ensure the safety and quality standards expected of wheatgrass supplements. Such increased regulation is expected to pose a challenge for manufacturers as they will need to invest more capital in research and development, complex manufacturing solutions and safety testing. Therefore, stringent regulations on the manufacturing and distribution of dietary supplements are expected to hamper the market growth during the forecast period.

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Wheatgrass Products Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.12%

Market growth 2023-2027

USD 63.96 million

Market structure

Fragmented

YoY growth 2022-2023(%)

5.1

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 30%

Key countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Adret Retail Pvt. Ltd, DynamicGreens Ltd., E-Phamax, Grass Advantage LLC, Grimes Wheatgrass, Human Pharmacia, Istore Direct Trading Pvt. Ltd., Monterey Bay Herb Co., Nature Bell Inc., Navitas LLC, NOW Health Group Inc., Nutriblade LLC, Nutrisure Ltd., Pines international, PlantPills, Sarvaayush Ayurved and Herbals, Synergy Natural Products Pty Ltd., Terrasoul Superfoods, The Health and Wellness Center Inc., and Patanjali Ayurved Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Topics Covered:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Distribution Channel

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com

SOURCE Technavio