[Research Report] The greens powder market size 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 are type of powdered dietary supplements made by nutritious combination of dried or blended plants. A few common ingredients used in the making of greens powder are wheatgrass, spirulina, kelp, green tea extracts, herbs, and chlorella. Consumers are highly inclining toward plant-based products as they perceive them as healthier than conventional ones. Further, increasing activities for animal protection and rising awareness regarding environmental sustainability bolster the popularity of vegan products. The global proliferation of veganism among people is highly influencing consumers to consume plant-based, vegan dietary supplements. According to data published by Veganuary, a nonprofit organization encouraging people to become vegan for the whole month of January, ~5.8 million people signed up for the "Veganuary Campaign" in 2021.
Registrations for the Veganuary Campaign have increased dramatically over the past few years. The greens powder supplement is made with natural ingredients such as herbs, fruits, vegetables, and other plant-based sources. These supplements are rich in vitamins, antioxidants, minerals, and other essential nutrients that enhance overall health. Thus, the growing inclination toward plant-based products due to the rising popularity of veganism is expected to bring new trends to the greens powder market during the forecast period.
In 2022, North America held the largest share of the greens powder market. The market in Asia Pacific is estimated to record the highest CAGR during the forecast period. The market growth in North America is attributed to rising awareness regarding healthy lifestyles among consumers. Greens powders are derived from nutrient-rich superfoods by drying and grinding them into fine powders and can be consumed as dietary supplements or health supplements. At the same time, digestive diseases continue to rise among the North American population due to hectic lifestyles. Digestive diseases represent one of North American countries' most severe health problems regarding distress and pain.
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Greens Powder Market: Strategic Insights
Market Size Value in US$ 279.32 million in 2023 Market Size Value by US$ 477.04 million by 2030 Growth rate CAGR of 7.9% from 2023 to 2030 Forecast Period 2023-2030 Base Year 2022
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Greens Powder Market: Strategic Insights
| Market Size Value in | US$ 279.32 million in 2023 |
| Market Size Value by | US$ 477.04 million by 2030 |
| Growth rate | CAGR of 7.9% from 2023 to 2030 |
| Forecast Period | 2023-2030 |
| Base Year | 2022 |
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Impact of COVID-19 Pandemic on Greens Powder Market
The rise in consumption of functional food and beverage products and dietary supplements and the high demand for protein-rich products were the key factors that boosted the growth of the greens powder market before the onset of the COVID-19 pandemic. However, manufacturers faced unprecedented challenges after the outbreak in 2020. The manufacturers of greens powder faced significant challenges due to supply chain constraints caused by nationwide lockdowns, trade bans, and travel restrictions. The supply chain disruptions created a shortage of raw materials, which affected the production and distribution of various products, leading to increased prices.
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.
Greens Powder Market Breakdown, by Region
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Strategic Developments by Key Players to Favor Greens Powder Market Growth During Forecast Period
In April 2020, Athletic Greens partnered with OceanX to enhance its distribution network. OceanX is a premier direct-to-consumer fulfillment and e-commerce platform. The company will be fulfilling and shipping orders for the health and wellness company Athletic Greens. Such strategic developments by key market players are expected to propel the greens powder market growth in the coming years.
Product Type Insights
Based on product type, the greens powder market is segmented into fermented greens, marine sources, grass sources, and others. The others segment held the largest market share in 2022, and the fermented greens segment is expected to register the highest CAGR during the forecast period. The market growth for the fermented greens segment is attributed to increasing demand for weight management supplements and nutritional-rich supplements. Fermented greens is an outstanding source of nutrients that help to improve digestive and gut health. They also help manage weight, maintain healthy blood sugar levels, boost energy levels, and improve psychological well-being. Such advantages of fermented greens have surged their demand.
Greens Powder Market, by Product Type – 2022 and 2030
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Distribution Channel Insights
Based on distribution channel, the greens powder market is bifurcated into online sales and offline sales. The offline sales segment held a larger market share in 2022, and the online sales segment is expected to register a higher CAGR during the forecast period. Online retail is one of the fastest-growing distribution channels due to convenience of shopping and product delivery. Online retail stores offer a wide variety of products with heavy discounts. Further, consumers can conveniently buy desirable products remotely. Online retailers are likely to increase their sales and profits faster than retail shops, as selling online offers the advantage of being open 24x7. Additionally, home delivery service attracts many customers to shop through e-commerce platforms. Moreover, shopping platforms offer descriptive product information and user reviews, which helps buyers compare products and make wise purchasing decisions. During the COVID-19 pandemic, online retail channels gained popularity as they offered home delivery services.
Athletic Greens (USA) Inc, Garden of Life LLC, MacroLife Naturals Inc, Naturo Sciences LLC, Martin & Pleasance Wholesale Pty Ltd, New England Greens LLC, Ceautamed Worldwide LLC, Sequel Natural LLC, Nested Naturals Inc, and Iovate Health Sciences International Inc are among the major players operating in the greens powder market. These companies mainly focus on product innovation to expand their market size and follow emerging trends.
Report Spotlights
- Progressive industry trends in the greens powder market to help companies develop effective long-term strategies
- Business growth strategies adopted by market players in developed and developing countries
- Quantitative analysis of the market from 2023 to 2030
- Estimation of global demand for greens powder
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers in the greens powder market
- Recent developments to understand the competitive market scenario
- Market trends and outlook, and growth drivers and restraints in the greens powder market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest
- Size of the greens powder market at various nodes
- Detailed overview and segmentation of the market and growth dynamics of the greens powder industry
- Size of the greens powder market in various regions with promising growth opportunities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, and Distribution Channel
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Based on the distribution channel, online sales segment is projected to grow at the fastest CAGR over the forecast period. The growth in the region is attributed by growing convenience of shopping and product delivery. Availability of wide range of product portfolio has further attributed market growth.
Based on product type, grass sources segment mainly has the largest revenue share. The growth of the segment is attributed to rising awareness regarding benefits of grass sourced greens powder, and surging demand for grass-based supplements.
North America accounted for the largest share of the global greens powder market. North America is one of the most significant regions for the greens powder market owing to rising awareness regarding incorporating a healthy lifestyle among consumers and increasing number of chronic diseases.
The major players operating in the global greens powder market are Athletic Greens (USA) Inc, Garden of Life LLC, MacroLife Naturals Inc, Naturo Sciences LLC, Martin & Pleasance Wholesale Pty Ltd, New England Greens LLC, Ceautamed Worldwide LLC, Sequel Natural LLC, Nested Naturals Inc, and Iovate Health Sciences International Inc.
The greens powder is considered to be healthy and nutritious. Thus, it has gained importance in recent years. Rising health consciousness among consumers about the side effects of powdered dietary supplements made with artificial chemicals and other artificial ingredients has boosted the demand for greens powder with claims such as non-GMO, herbal, vegan, sugar-free, and gluten-free products. Manufacturers are launching greens powder with several claims which are expected to create new opportunities in the market. Thus, an upsurge in demand for greens powdered dietary supplements with functional claims is expected to provide lucrative opportunities for the greens powder market in the future.
The greens powder delivers the benefits of leafy green vegetables and other ingredients that contain health-boosting vitamins and minerals. Greens powder has a green hue and a grassy taste. It is nearly possible these days, especially for vegans, to achieve the Recommended Dietary Allowance (RDA) guidelines regarding the intake of essential amounts of fruits and vegetables. Consumption of greens powder in the morning or alongside meals can be a great way of accomplishing the required nutrients and antioxidants. The rising aging population and increasing awareness for preventive healthcare drives the demand for health preventive products, including greens powder.
The List of Companies - Greens Powder Market
- Athletic Greens (USA) Inc
- Garden of Life LLC
- MacroLife Naturals Inc
- Naturo Sciences LLC
- Martin & Pleasance Wholesale Pty Ltd
- New England Greens LLC
- Ceautamed Worldwide LLC
- Sequel Natural LLC
- Nested Naturals Inc
- Iovate Health Sciences International Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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