Market Definition:
The global wheatgrass products market has been segregated, by category, into organic and conventional. The conventional segment is expected to dominate the global wheatgrass products market during the assessment period. However, the organic segment is expected to grow at a higher CAGR during the forecast period owing to the rising preference of consumers for organic products. The awareness of the benefits of organic products is increasing, which is expected to drive the growth of the segment.
The global market for wheatgrass products has also been classified, by distribution channel, as store based and non-store based; with store based segment being sub divided to supermarkets & hypermarkets, convenience stores, and others. The store based segment is expected to dominate the market wherein supermarkets & hypermarkets are expected to hold a prominent share. However, the non-store based segment is expected to register the highest CAGR during the forecast period. Large number of manufacturers are focusing on online distribution channel through their own websites which is projected to drive the growth of non-store based segment.
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Market Scenario and Key Restraints:
Wheatgrass products are derived from the freshly sprouted leaves of the common wheat plant, Triticum aestivum. It has antioxidant, antibacterial, and anti-inflammatory properties. It assists in lowering cholesterol levels which lessens the risk of developing heart diseases. Moreover, the nutrients in the wheatgrass aid in removing impurities and stored toxins from the body. These health promoting attributes of the wheatgrass products is driving the growth of the market.
Based on product type, the global wheatgrass products market has been segmented into wheatgrass juice, wheatgrass powder, and others. The wheatgrass juice segment accounted for the maximum market share in 2017 due to increased demand for functional beverages among the health-conscious population. Growing fitness trend and gym-going population is supporting the growth of wheatgrass juice market. However, wheatgrass powder is expected to attain the highest CAGR during the forecast period. The longer shelf life of the wheatgrass powder is estimated to be the primary driving factor for the growth of this segment.
Key Players:
Some of the key players in the global Wheatgrass Products Marketare Navitas Organics (US), Naturya (England), Bondi Wheatgrass Juice Company (Australia), Pines International (US), Lifestream International Ltd (New Zealand), Synergy Natural (Australia), Amazing Grass (US), Antler Farms (New Zealand), Organic India (India), and Kapiva (India)
Regional Analysis:
On the basis of region, the global wheatgrass products market has been segmented by North America, Europe, Asia-Pacific, and RoW. North America is expected to dominate the global wheatgrass products market owing to increased health conscious population. Moreover, the growing demand for organic products, especially in the US is expected to drive the organic wheatgrass products market. Europe is also estimated to hold a prominent share in the global wheatgrass products market with growing demand for functional food and beverages among the consumers in this region.
The wheatgrass products market in Asia-Pacific is expected to grow rapidly due to the increasing adoption of healthy diets by the rising health-conscious population. Emerging markets such as China and India are projected to contribute to the growth of the regional wheatgrass products market. Manufacturers are investing heavily in these markets and new product launches with innovations in flavor and taste of the wheatgrass products is expected to surge the growth of the market during the forecast period.
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