Greens Powder Market Size Report | Global Forecasts 2030

[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

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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.

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.

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.

Greens Powder Market Regional Insights

The regional trends and factors influencing the Greens Powder Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Greens Powder Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Greens Powder Market Report Scope

Greens Powder Market Players Density: Understanding Its Impact on Business Dynamics

The Greens Powder Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Greens Powder Market are:

1. Athletic Greens (USA) Inc
2. Garden of Life LLC
3. MacroLife Naturals Inc
4. Naturo Sciences LLC
5. Martin & Pleasance Wholesale Pty Ltd

Disclaimer: The companies listed above are not ranked in any particular order.

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