20 December, 2018- Teff Market is anticipated to grow at a significant CAGR of 15.47% in the upcoming period as the scope, product types, and its applications are increasing across the globe. Teff products are made up of gluten free- grain, mostly grown in Ethiopia. In terms of nutrition contents, it is highly rich in dietary fibers, iron, calcium, protein, and the other nutrients. The factors that propel the growth of the market include rising awareness regarding the benefits of teff, increasing number of high-income level group in emerging countries, cost-effective & high-tech development, huge urban population in countries, and presence of several key manufacturers.
Additionally, demand is supposed to be very high in the United States where many Ethiopians and Ethiopian origin live. Some of the key players that fuel the growth of the teff market comprise Tobia Teff, THE TEFF COMPANY, Bob’s Red Mill Natural Foods, Love Grain, Conagra Brands Inc., CERES ORGANICS, PROBIOS S.p.A., SHILOH FARMS., Amandin Organic Products, and Mama Fresh Injera PLC. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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On the other hand, there are factors that may hamper the growth of the market including fluctuating price of teff. With the increase in e-commerce businesses worldwide, vendors working in the superfood industry are likely to surge their profitability and visibility manifold of the teff in the years to come.
The market may be explored by raw material, product type, distribution channel, and geography. The market may be explored by raw material as conventional and organic. The “Conventional” segment led the market in 2017 and will continue to lead in the forecast period. Based on product type, the teff market may be classified as bakery, flour, cereals, beverages, snacks and others may further explored as soups and sauces and infant food. The “flour” segment led the market in 2017 and will continue to lead in the forecast period.
Based on distribution channel, the market may be classified as convenience stores, supermarket/hypermarket, neighborhood stores, and online stores. The “Supermarket/Hypermarket” segment led the market in 2017 and is anticipated to maintain its dominance by 2025. The key factors that could be attributed to the growth of market include easy availability and good quality products.
North America accounted for the major share of the market size in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include increasing demand, high production of teff and presence of key manufacturers in these region. North America is followed by Europe and Asia-Pacific region in the forecast period.
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The market is divided into the following segments based on geography:
Global Teff Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
- Bob’s Red Mill Natural Foods
- King Arthur Flour Company
- SHILOH FARMS
- THE TEFF COMPANY
- Tobia Teff