Greens Powder Market to exceed US$ 477.04 million by 2030

by Sameer Joshi or 08-Jun-2023
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Report : Greens Powder Market Forecast to 2030 - COVID-19 Impact and Global Analysis by Product Type (Fermented Greens, Marine Sources, Grass Sources, and Others) and Distribution Channel (Online Sales and Offline Sales)

The scope of our recent study on the "Greens Powder Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Product Type and Distribution Channel" includes the description of factors fueling the market growth, estimation and forecast of revenue, and identification of significant market players and their key developments. The report also provides a market share analysis.

The greens powder market is expected to grow from US$ 279.32 million in 2023 to US$ 477.04 million by 2030; it is estimated to register a CAGR of 7.9% from 2023 to 2030. 

Greens powder is a type of powdered dietary supplement blended by various type of nutritional ingredients. The type of ingredients used in greens powder are herbs, spirulina, wheatgrass, barley grass, kale, plant extracts, and kelp, amongst others. Increasing awareness regarding its benefits such as detoxification, improved gut heath, boot in energy, and reduced inflammation has surged the demand for greens powder. In recent years, consumers have become conscious about their appearance, has significantly surged interest in eight loss and eight management products, thereby attributing the market growth.

Based on product type, the greens powder market is segmented into fermented greens, grass sources, marine sources, and others. The others segment held a larger market share in 2022, and the fermented greens segment is expected to register a higher CAGR during the forecast period. Others segment includes other greens powder sourced from green leafy vegetables, fruits, plant extracts, green herbs, grass blends, and blends of marine and grass sources. The most common leafy vegetables used for these powders are spinach, kale, collards, parsley, and broccoli. Herbs such as amla, manjistha, triphala, maca, ashwagandha, brahmi, and fruits having high antioxidant are also added to these powders to increase their nutritional profile. These powders are enriched with vitamins and minerals crucial for a well-functioning nervous system and a fundamental building block of a strong immune system.

The greens powder market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America held the largest market share in 2022, and Asia Pacific is expected to register the highest CAGR during the forecast period. The market growth in Asia Pacific is attributed to the increasing demand for dietary supplements, especially powdered supplements, and the growing awareness of health and wellness among consumers. The body more quickly absorbs the supplements in powder form than in pill form. Thus, consumers in the region prefer powdered supplements, and the demand for greens powder is increasing in the region. In addition, the rising disposable income levels and the high living standards of consumers in the region have increased their purchasing power. 

Impact of COVID-19 Pandemic on Greens Powder Market
During the initial phase of the COVID-19 pandemic, implementation of lockdown restrictions and shutdown of manufacturing units led to a production shortfall, creating a demand and supply gap. These factors hampered the profitability of various small-scale and large-scale manufacturers of greens powder. Moreover, people increasingly sought natural and safer alternatives to keep themselves healthy and strengthen their immune systems. The demand for naturally sourced dietary supplements increased dramatically during the initial months of the pandemic. As people stayed home due to government mandates, they focused on their health and fitness routines. People started participating in activities such as yoga, exercises, and Zumba to improve their health. This factor created strong opportunities for the manufacturers of greens powder. 

The COVID-19 pandemic also triggered changes in the overall dietary preferences of consumers. Due to the increased health awareness, consumers preferred high-protein products, which boosted the demand for greens powder as it is a good source of protein. Furthermore, the market witnessed an increased demand for digestive and immune health products. As a result, sales of dietary supplements consisting of vitamins, multivitamins, probiotics, and other immunity-boosting functions also increased. This factor supported the growth of the greens powder market during the pandemic.

In 2021, various economies resumed operations as governments of various countries announced relaxation in the previously imposed restrictions, which boosted the global marketplace. Moreover, manufacturers were permitted to operate at full capacity, which helped them overcome the demand and supply gap and other repercussions. As numerous citizens of many countries were fully vaccinated by 2021, the greens powder manufacturers focused on increasing their production to revive their businesses.

The report segments the greens powder market as follows:

Based on product type, the greens powder market is segmented into fermented greens, marine sources, grass sources, and others. Based on distribution channel, the greens powder market is bifurcated into online sales and offline sales. Based on geography, the greens powder market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.

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