The wheatgrass products is expanding at a steady pace owing to changes in consumer preferences. According to Future Market Insights (FMI), the wheatgrass products market will grow at 6.3% CAGR between 2021 and 2031.
This has encouraged key market players to increase investments in the launch of new products. Also, efforts towards sustainability certifications ensures lucrative growth in the wheatgrass products market.
Wheatgrass products are derived from plants and therefore are very helpful for populations that suffer from digestion disorders, gut issues, bloating, and obesity problems.
Wheatgrass is gaining traction globally as it is considered a good source of anti-oxidants and vital vitamins. Wheatgrass contains chlorophyll which is very important for the purification of the blood. Aged people believe more in body cleansing procedures, which will create key opportunities in the near future.
In 2020, ABE’S Households a North America based company, offered household superfood supplements, a natural blend of super nutrients for cardiovascular health.
Strengthening partnerships in high growth regions, product innovation, and the demand for plant-based ingredients are factors boosting the wheatgrass products market.
Millennial consumers account for a notable revenue share in the supplements sector, and are key contributors to the sales of wheatgrass products worldwide.
To reach these consumers manufacturers are changing delivery patterns and shifting towards online distribution channels over store-based alternatives.
Key Takeaways from the Wheatgrass Products Market Study
- Supermarkets and hypermarkets are estimated to hold nearly 25% of the market in 2021, and are expected to rise at a CAGR of 4.8% in the forecast period.
- The U.S. holds the lead in North America. The North America market has emerged dominant and is expected to accounts for over 32% of the global market in 2021.
- The U.K. and Germany will reflect high potential for growth even as Europe accounts for 28.1% of the market, with growing consumer interest in natural, plant-based foods.
- South Asia is anticipated to grow with a 10.2% CAGR during the forecast period. India displays key opportunities, as millennial consumers become health-conscious.
- China will reflect high potential for growth in East Asia, with easy access to raw materials in the country.
“Wheatgrass product manufacturers are adapting novel technologies to keep up with changing consumer demand. Substantial investments are being made on research and development activities by key players to satisfy varying consumer preferences in terms of form, flavor, and functionality. In recent years, the market has witnessed several new product launches which will contribute to consumer awareness over the coming decade,” said a lead analyst at FMI
Clean Label Trend Gaining Traction
According to the Food Insider Journal, 75% of consumers are willing to pay extra for clean label ingredients. The clean label movement is gaining traction owing to increased consumer awareness regarding diet and available food options.
The product launches have resulted from changing consumer behavior regarding product purchases. Thus, dietary supplement manufacturers are incorporating wheatgrass derivatives and are aiming to market their products as clean label and good for health.
Who is Winning?
Prominent manufacturers of wheatgrass products are focusing on mergers and acquisitions and collaborations, to bolster market penetration and to increase production capacity. Research and development for optimizing taste and texture of plant-based products will gain importance.
Natural and organic products will gain consumer attention. Therefore, to increase market access, manufacturers are targeting local players to ensure long term consumer engagement.
A few of the leading players operating in the wheatgrass products market 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 and others.