Growth opportunities in the baobab market look promising over the next six years. This is mainly due to the increasing awareness among the consumers related to harmful effects of synthetic ingredients and rising demand for immune system boosting supplements.
Baobab Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The augmenting consciousness among individuals concerned with the negative effects of synthetic ingredients is driving the growth of the baobab market. The manufactures of natural and organic food products are continuously looking for pure ingredients with functional and active properties. In accordance with the “African Baobab Alliance, the exports of baobab extended up to 450 tonnes in 2017 and is likely to reach 5000 tonnes by the end of 2025 in Europe, unveiling the huge growth potential of the market. The demand for the products with high nourishment, low added preservatives and fat free products has surged the demand of beverage which include carbonated drinks, soda, etc. in countries like India, Japan, China, and Australia, and has promoted the market for these products. Moreover, the surging demand for food products that enhances the immunity of consumers will drive the baobab market share. With the widespread outbreak of coronavirus pandemic consumers are largely emphasizing on their personal immunity which has led to the market growth. Also, leading companies including Mighty Baobab Limited, Woodland Foods, and B’Ayoba are engaged in introducing new products in market like fruit powders which is supplementing the market growth. However, the high cost of baobab will hinder the baobab market growth.
Form Segment Drivers
Based on the form, powder is predicted to witness a faster CAGR over the forecast period. This is because the beverage industry mostly uses powder form to make nutritional and brewing beverages. Thus, the altering trends for the acquisition of nutritional beverages is bolstering the market growth.
Application Segment Drivers:
Based on the application, food and beverages are expanding at a faster CAGR in the market over the forecast period. This is primarily because of the intensifying health benefits offered by them, which is attracting the end-users to include it in various applications like baking, confectionery, and flavoring. Furthermore, the reduction in the occurrence of chronic disease, has fuelled the acceptance rate of these products in the food and beverage industry which is propelling the market growth.
Baobab Market’s leading Manufacturers:
- Mighty Baobab Limited
- B’Ayoba
- Halka B Organics
- Atacora
- Woodland Foods
- Baobab Fruit Company
- Aduna Limited
- Organic Bursts U.K. Limited
- Organic Africa
- The Healthy Tree Company
Baobab Market Segmentation:
Segmentation by Form
- Oil
- Powder
- Pulp
Segmentation by Application
- Food and Beverage
- Nutraceuticals
- Personal Care
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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