USD 174.73 million
Report ID: SQMIG30I2348 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 61 | Figures: 75
Global Wheatgrass Products Market size was valued at USD 174.73 million in 2021 and is poised to grow from USD 185.1 million in 2022 to USD 303.3 million by 2030, at a CAGR of 6.3% during the forecast period (2023-2030).
The growth is anticipated to be fueled by the growing understanding of wheatgrass's health advantages. The rise in product demand is being driven by wellness trends and shifting consumer behavior towards green foods. Clean-label foods with natural ingredients & functional foods with positive health effects were in demand during the COVID-19 epidemic.
A global health crisis resulted in an increase in demand for nutrient-dense meals and supplements in 2022. Plant-based and superfood goods like wheatgrass were predicted to be popular by almost one-third of the baker members of the Craft Bakers Association (CBA). In addition, the pandemic caused an upsurge in recent years in the need for e-commerce channels. On their own websites, some of the major businesses, like My Protein, sell a variety of goods, including supplements, wheatgrass, and other things.
Another element driving the industry's growth is the aging population. Men and women over the age of 60 are most likely to utilize wheatgrass products for their normal blood circulation along with additional health benefits. All around the world, there are an increasing number of diabetic patients. This is anticipated to support the rise in demand for wheatgrass products.
The International Diabetic Federation estimates that 537 million people aged 20 to 79 will have diabetes in 2021. In the meantime, 643 million people worldwide are predicted to have diabetes by 2030. Wheatgrass powder has anti-diabetic qualities that assist in maintaining blood sugar levels & stop any further effects of blood sugar activity, making it a useful treatment for diabetics. Thus, using wheatgrass powder in conjunction with diabetes treatment is possible.
In addition, the World Health Organization (WHO) reports that breast cancer will account for 12% of all new cases of cancer each year, making it the most prevalent type of cancer globally in 2021. Patients with breast cancer who drink wheatgrass juice experience less hematological damage as a result of chemotherapy.
Global Market Size
USD 174.73 million
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The global wheatgrass products market is based on form, distribution channel, and region. Based on form, the market is segmented into powder, juice, and others. Based on distribution channel, the market is segmented into B2B, and B2C. Based on region the global wheatgrass products market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Form
The powder market dominated with a revenue share of 52.3% in 2022. Due to its anti-inflammatory characteristics, wheatgrass powder is being added by several manufacturers to lotions, soaps, toothpaste, moisturizers, and other cosmetic products in order to reap its advantages. As an alternative to toothpaste, the Chloemason Soap Company sells organic wheatgrass tooth soap made from 100% natural ingredients.
Juice segment growth is predicted to occur at a CAGR of roughly 7.0% during the projection period. Chlorophyll, which is present in large amounts in wheatgrass juice and serves as a supplement to fight anemia. It aids in the body's capacity to make hemoglobin. It is believed that this will be positive news regarding the segment's future growth.
Analysis by Distribution Channel
The B2C sector dominated the market and contributed 57.4% of the total revenue in 2022. This is brought on by rising levels of consumption at home and rising consumer spending on healthy goods. Walmart stated in January 2022 that it will be expanding its in-home delivery service, with the goal of increasing the number of customers from the present 6 million to 30 million by the end of the year. During the projected period, a similar endeavor is anticipated to fuel demand in the B2C distribution channel.
Online sales in the B2C market are projected to grow at a CAGR of 6.8% over the forecasted period. Customers spend a lot of time buying online, which has grown to be a common habit. Fast door-to-door delivery, more affordable prices, and a growth in wheatgrass product sales online are additional contributing factors. Several significant players, including My Protein & NOW Foods, sell wheatgrass products on their own websites.
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North America had a 30.5% share of the worldwide wheatgrass product market and controlled it. Due to the increased production of wheat in this area as well as the existence of numerous market participants including Dynamic Greens Wheatgrass, Then Food, and Pines Wheat Grass, demand for wheatgrass products is increasing. For instance, the U.S. Department of Agriculture reports that in 2021–2022 American farmers produced 1.6 billion bushels of durum, winter, and additional spring wheat from a cropped area of 37.2 million acres.
Asia Pacific is anticipated to grow at a CAGR of 7.0% during the forecasted period because of the rising popularity for green foods, the related health benefits, & the existence of several large enterprises. The two nations with the highest rates of type 2 diabetes are China and India.
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To increase their market share globally, businesses are concentrating on launching new products. For instance, JIVO Wellness released a new range of goods in 2021, which included wheatgrass summer drinks, as well forayed into the beverage business. For the distribution of wheatgrass juice, the business formed partnerships with a number of big-box retailers and online shopping sites.
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According to our global wheatgrass products market analysis, the growing awareness about wheatgrass's health advantages is a prime growth driver. The rise in product demand is being driven by wellness trends and shifting consumer behavior towards green foods. Manufacturers are continuously introducing innovative wheatgrass products to cater to evolving consumer demands. These include wheatgrass powders, tablets, capsules, and even skincare products infused with wheatgrass extracts. These innovative offerings provide consumers with a variety of options to incorporate wheatgrass into their lifestyles.
|Market size value in 2021
|USD 174.73 million
|Market size value in 2030
|USD 303.3 million
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
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For the Global Wheatgrass Products Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Wheatgrass Products Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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