The global packaged wheatgrass drinks market is expected to grow at a CAGR of more than 12% during the forecast period, 2017-2021.
Technavio has announced its latest market research report on the global packaged wheat grass drinks market, under its non-alcoholic beverages portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Pines International, Naturya, Bondi Wheatgrass Juice, and NOW Foods.
According to Manjunath Reddy, a lead analyst for non-alcoholic beverages research at Technavio, “The highest concentration of VHMS and packaged wheatgrass products are in supermarkets and hypermarkets, closely followed by online stores and specialty retailers. Specialty retailers have grown in popularity due to their perceived higher product quality and the availability of private label products.”
Packaged wheatgrass products fall under the dietary supplements category. The products are sold through a wide range of channels such as supermarkets and hypermarkets, specialty retail stores, pharmacy chains, independent retailers, direct selling channels, and the Internet or home shopping.
Increasing availability through online retailers
Customers prefer online shopping and pay for their orders using credit or debit cards, which helps them to avoid time-consuming trips to shopping centers and avoid standing in billing queues. This trend is encouraging various manufacturers to concentrate on the Internet-savvy customer segment and explore new online retail formats. This mode of business will help vendors in reducing operating costs and overheads, which are lower in the online retail format when compared with the physical store format.
Demand for high protein content products
Due to their low-calorie and high fiber content, packaged wheatgrass products are increasingly preferred over other snack foods. The rise in disposable incomes in developing economies of South America, Eastern Europe, and APAC has enabled the consumers to seek high protein content products. Furthermore, the increasing availability and accessibility of protein-rich products in supermarkets, hypermarkets, and convenience stores is propelling the adoption of wheatgrass drinks and similar products in the global market.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Packaged Wheatgrass Drinks Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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