by The burgeoning demand for dietary supplements is driving the Acai Berry Market The consumption of acai berry as dietary supplements has increased significantly owing to rising health-consciousness among consumers. Acai berries are rich in antioxidants such as anthocyanins and fatty acids which helps in weight management and reducing the risk of heart diseases. The global acai berry market is expected to exhibit significant growth owing to rising preference for natural weight-loss supplements. Acai berries supplements have gained widespread popularity as they help combatting obesity and promote digestive health.
The Global Acai Berry Market Is Estimated To Be Valued At US$ 1656.7 Mn In 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for immunity-boosting supplements amidst the ongoing COVID-19 pandemic is one of the major trends fueling the growth of acai berry market. Acai berries have abundant antioxidant content that helps strengthen immune response and reduce stress and inflammation. There is growing availability of powdered and frozen forms of acai berries which enables easy incorporation in smoothies, juices and supplements. The powdered form in particular is gaining traction among working professionals and time-constrained consumers due to its convenience. Innovation in product forms such as capsules, gummies and protein bars containing acai berry extracts is further expanding its market reach.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the Global Acai Berry Market Size is moderate. New companies need to invest significant capital to compete with the existing major players.
Bargaining power of buyers: The bargaining power of buyers in the Acai berry market is high. Buyers have several supplier options and can negotiate on price.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as major suppliers dominate the market. However, buyers can switch to alternative suppliers.
Threat of new substitutes: The threat of new substitutes is moderate as there are limited product alternatives that offer the same health benefits as Acai berries.
Competitive rivalry: The competition in the Acai berry market is high among existing players. Companies strive to increase their market share through product launches, partnerships and expansion.
Key Takeaways
The global Acai berry market is expected to witness high growth over the forecast period of 2023 to 2030. The rising health-conscious demographic is driving growth.
Regional analysis
North America currently dominates the global market and is expected to maintain its leading position till 2030. Increasing consumption of superfoods and health supplements among consumers in the US and Canada is fueling market expansion in the region.
Key players
Key players operating in the Acai berry market are Abbott Laboratories, Baxter International Inc., Fresenius Kabi AG, NESTLÉ S.A., DANONE S.A., B.Braun Melsungen AG, Mead Johnson & Company, LLC, Perrigo Company PLC, Koru Nutrition Inc., and Koninklijke DSM N.V. Companies are launching new products and expanding their distribution channels to strengthen market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
