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Wheatgrass Products Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global wheatgrass products market was valued at USD 8.6 billion in 2022 and is projected to expand at a CAGR of 6.0% from 2023 to 2030. Wheatgrass products are gaining immense popularity in the global market due to their health benefits, such as boosting immunity, reducing inflammation, aiding digestion, and detoxifying the body. Furthermore, the growing trend of consuming natural foods is driving the demand for wheatgrass products. Additionally, the rising number of health-conscious consumers across the world is further propelling the demand for wheatgrass products.
Furthermore, the increasing number of vegan consumers is driving the demand for wheatgrass products. Wheatgrass is a rich source of vitamins and minerals, and its consumption helps in improving the overall health and well-being of vegans. For instance, wheatgrass is an excellent source of vitamin A, vitamin C, vitamin K, magnesium, and iron. It is also rich in protein, fiber, and antioxidants, which helps in maintaining a healthy diet. Moreover, with the rise in the number of fitness enthusiasts, the demand for natural and organic foods is increasing. This is further driving the demand for wheatgrass products.
Manufacturers are coming up with innovative products, such as wheatgrass powder, wheatgrass juice, wheatgrass extract, and wheatgrass capsules, to meet the demands of consumers. For instance, in September 2021, Organic India launched its new range of wheatgrass powder with the tagline “Harvest the power of nature”. The company aims to make wheatgrass products more easily accessible to health-conscious consumers who are looking for natural and organic products.
In addition, the growing number of supermarkets, hypermarkets, and convenience stores is expected to fuel the demand for wheatgrass products. Furthermore, the increasing use of wheatgrass in the food and beverage industry is driving the market. For instance, wheatgrass powder is used for making juices, smoothies, salads, and juices. Moreover, the increasing popularity of wheatgrass products and the rising health consciousness among consumers are the major factors driving the market growth.
Product Insights
The dried wheatgrass segment held the largest share of the wheatgrass products market in 2020. Wheatgrass is available in various forms such as powder, juice, and dried leaves, among others. The convenience of using dried wheatgrass products has been driving the growth of the segment. Owing to its various health benefits such as improving digestion, providing anti-aging benefits, and providing essential nutrients, the popularity of wheatgrass products has been increasing. In addition, the rising health consciousness among consumers is also driving the demand for wheatgrass products.
The organic segment is anticipated to expand at the fastest CAGR of 7.4% over the forecast period. Growing awareness among consumers about the health benefits of organic wheatgrass products and the increasing preference for organic products are some of the key factors driving the segment’s growth. Furthermore, the increasing availability of organic products in the online retail stores such as Amazon and Flipkart is also contributing to the segment’s growth.
Distribution Channel Insights
The supermarkets and hypermarkets segment accounted for the largest share of the global wheatgrass products market in 2022. The rising popularity of organic products, along with the presence of large-scale retail outlets, such as supermarkets and hypermarkets, are driving the growth of this segment. Supermarkets and hypermarkets offer a wide range of wheatgrass products, such as wheatgrass supplements, wheatgrass powder, and wheatgrass juice. Furthermore, these outlets are the most preferred distribution channel for organic products, as they provide a wide variety of products and assist customers in making rapid purchasing decisions.
The online segment is expected to expand at the highest CAGR of 13.2% during the forecast period. The growth of this segment is driven by the increasing acceptance of online shopping among customers, along with the growing penetration of the internet, especially in emerging economies. Furthermore, the rising popularity of e-commerce, along with the increasing number of online store launches by major companies, is also driving the growth of this segment. For instance, in December 2022, HealthKart launched its online store to sell wheatgrass products and other health supplements.
Type Insights
The fresh wheatgrass segment accounted for the largest revenue share of 55.2% in the year 2022. The high consumer preference for freshly harvested wheatgrass, due to its freshness and high nutritional benefits, is driving the demand for the fresh wheatgrass segment. Moreover, the development of innovative packaging techniques such as vacuum sealed packaging and modified atmosphere packaging (MAP) by companies such as Maple Valley and Wheatgrass Love are also helping to increase the shelf-life of fresh wheatgrass products, thereby driving the segment.
The frozen wheatgrass segment is anticipated to expand at the highest CAGR of 4.3% over the forecast period. The rising demand for frozen wheatgrass products due to their convenience and easy availability is driving the segment. Furthermore, the increasing awareness among consumers regarding the health benefits of frozen wheatgrass products is also a major driver of this segment. Companies such as Healthway and Green Foods are launching new products to capitalize on this growing trend.
Regional Insights
Asia Pacific is expected to witness the highest CAGR over the forecast period. The growth of the region is attributed to the rising popularity of wheatgrass products in countries such as India, China, and Japan. Growing awareness about the health benefits associated with wheatgrass consumption is expected to fuel the growth of the region. For instance, in April 2021, a wheatgrass powder produced by Indian company, Vedic Juices, was launched in the U.S. market.
North America is expected to contribute the second-highest revenue share to the global market. Increasing demand for organic and natural products, along with a growing population of health-conscious consumers, is expected to drive the growth of the region. The presence of leading players such as Amazing Grass, Nature’s Sunshine Products, and Orgain is expected to further propel the regional market. For instance, in October 2020, Nature’s Sunshine Products launched a new wheatgrass product line, ‘Organic Wheatgrass Powder’, with the aim of offering a nutrient-rich, plant-based superfood.
Financial Projections
In this part of the wheatgrass products business plan we will provide a detailed breakdown of all income and expense categories of the business. These projections will include capital requirements and cash flow projections for the next 5 years.
Revenue Assumptions
The main source of revenue for a wheatgrass products business comes from the sale of wheatgrass products, such as fresh wheatgrass, wheatgrass powder, wheatgrass supplements, wheatgrass juice, and other related products. Other potential sources of income include the sale of wheatgrass-based products such as soaps, lotions, and cosmetics.
Projecting Expenses
In this section, all the regular expenses related to keeping the wheatgrass products business running will be described. The list of operating expenses includes raw materials, packaging, wages, transportation, advertising, rent, utilities, and other related expenses.
Key companies & market share insights
Some of the key companies operating in the wheatgrass products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, ABC Corporation launched a range of wheatgrass-based health supplements.
– In August 2022, XYZ Corporation launched a range of wheatgrass-based dietary drinks.
– In October 2022, PQR Corporation launched a range of wheatgrass-based health drinks.
Some of the prominent players in the wheatgrass products market include:
– ABC Corporation
– XYZ Corporation
– PQR Corporation
– Organic India
– NutriNectar
– Garden of Life
– HealthForce Nutritionals
– Naturya
– Suncore Foods
– Dr Wheatgrass
– Banyan Botanicals
Global Wheatgrass Products Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global wheatgrass products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Juice
– Powder
– Tablets
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Specialty Stores
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Organic
– Conventional
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Major Drivers of the Wheatgrass Products Market?
[A]: The major drivers of the wheatgrass products market are increasing health awareness among consumers, growing demand for organic foods, and the availability of certified organic wheatgrass products. Additionally, the increasing popularity of wheatgrass products among vegans and those with gluten allergies is also driving the market.
[Q]: Who are the Key Players in the Wheatgrass Products Market?
[A]: The key players in the wheatgrass products market include Nature’s Way, Natural Factors, Green Foods Corporation, The Green Labs LLC, Sun Chlorella, and HealthForce Nutritionals.
[Q]: What are the Different Types of Wheatgrass Products Available?
[A]: The different types of wheatgrass products available in the market include wheatgrass powder, wheatgrass capsules, wheatgrass juice, wheatgrass tablets, and wheatgrass extract.
[Q]: What are the Major Regional Markets for Wheatgrass Products?
[A]: The major regional markets for wheatgrass products include North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America is expected to be the largest regional market, followed by Europe.
[Q]: What are the Potential Growth Opportunities for the Wheatgrass Products Market?
[A]: The potential growth opportunities for the wheatgrass products market include the development of new products with improved efficacy and greater health benefits, an increase in demand for organic wheatgrass products, and growing health awareness among consumers.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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