The ‘Global Baobab Ingredient Market Size, Report and Forecast 2024-2032’ by Expert Market Research gives an extensive outlook of the global baobab ingredient market, assessing the market on the basis of its segments like type, application, source, and region.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Baobab Ingredient Market Size, Trends, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2024-2032)
• Forecast CAGR (2024-2032): 5.80%
The increased use of baobab as an ingredient in the packaged food sector is one of the key factors anticipated to drive the growth of the global baobab ingredient market during the forecast period. The market is expanding as a result of rising knowledge of the health advantages of baobab components, as well as rising consumption of organic and healthy food and beverage products. Also, the rise in the demand for preservatives will create additional potential growth possibilities for the market for baobab ingredients in the years to come.
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Programmes by governments in various regions to promote organic products and increasing consumer preferences for organic goods are also expected to offer lucrative opportunities for the market. Baobab ingredients are often included in beverages since it has a distinct flavour that consumers like, while the pulp can also be used as a flavouring component in ice cream and yoghurt. Together, all of these factors are fostering the expansion of the global baobab ingredient market.
Also, it is predicted that the increase in nutraceutical consumption will propel the expansion of the market for baobab ingredients. Due to its high mineral and vitamin content, and presence of antioxidant, anti-inflammatory, antibacterial, and metabolism-boosting fibre content, baobab is increasingly used in the nutraceutical sector, contributing to the overall growth of the baobab ingredient market.
Baobab Ingredient Industry Definition and Major Segments
Baobab is a tree indigenous to Australia and nations in the Middle East and Africa regions. The fruit of the tree can be consumed and its seeds can be utilised as a natural preservative for food. Baobab contains various important minerals like potassium, magnesium, iron, and zinc as well as key nutrients like phosphorus, carbohydrates, vitamin C, and antioxidants. The plant’s leaves are easily digestible and high in calcium and high-quality proteins.
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Based on type, the market is segmented into:
• Powder
• Pulp
• Oil
On the basis of application, the market is divided into:
• Food and Beverages
• Nutraceuticals
• Cosmetics
• Others
Based on basis of source, the market is bifurcated into:
• Organic
• Conventional
On the basis of region, the market is divided into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Baobab Ingredient Market Trends
The increasing applications of baobab ingredients in various end-use industries such as food and beverages, nutraceuticals, and cosmetics is a key trend driving the global baobab ingredient market growth. When baobab is applied topically to the skin, it exhibits occlusive, hydrating, and moisturising effects. The baobab market for cosmetics and personal care has expanded dramatically over the past several years due to its health benefits and the growing desire for organic personal care products.
There is an increasing need for high performance and natural components in personal care products including shampoos, body lotions, day and night creams, and serums, among others. Since baobab ingredients are free of hazardous chemicals, such products are becoming more and more popular, which is accelerating market growth. The expanding accessibility of products containing baobab through e-commerce channels is bolstering the global baobab ingredient market expansion.
Throughout the forecast period, the rising demand for organic personal care and cosmetics products is anticipated to fuel expansion of the market for baobab ingredients. Consumer preferences, tastes, eating and shopping behaviours, as well as new market entrants are likely to further support the growing demand for products with baobab ingredients. Baobab ingredient has grown in popularity and is now often used in dietary supplements, capsules, and culinary products, with many people considering baobab powder to be the newest superfood.
Key Market Players
The major players in the global baobab ingredient market report are Baobab Foods, LLC, Baobab Fruit Company, NEXIRA, Afriplex (Pty) Ltd, and EcoProducts, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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