Baobab Powder Market
Baobab Powder Market Share & Trends Analysis, By Application (Food and beverages, Nutraceuticals, Others) & By Region Forecast - Global Market Insights 2022 to 2032.
Analysis of Baobab Powder Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Baobab Powder Market Outlook till 2032
Baobab powder is used in multiple segments because of its versatile benefits. Until a decade ago, the market for baobab powder was restricted to Africa and neighboring countries, but it has been popularized thanks to the growing demand for healthy food products and value-added products. Aduna Ltd. Introduced baobab powder and allied products in the market and since then the demand for baobab powder has been surging at an exponential rate.
Africa, Australia, and the Middle East are the original home of the baobab tree. With good cause, the baobab tree is a symbol of the African savannah. The baobab tree, often known as the "tree of life," offers all of its parts for usage in food, drink, cosmetics, nutraceuticals, and medicine. The fruit of the baobab is edible and has a sweet-tart flavor. The baobab seeds naturally dry on the tree, from which baobab powder is made.
The global market for baobab powder is valued at USD 7441.91 Million in 2022. The market is anticipated to grow with a CAGR of 6.3% in the forecast period. The market is likely to cross the valuation of USD 13,709.36 Million by end of 2032.
Report Attributes |
Details |
|
Market size (2022 A) |
USD 7441.91 Million |
|
Base Year for Estimation |
2022 |
|
Forecast duration for this research |
2022-2032 |
|
Forecasted Market value (2032 F) |
USD 13,709.36 Million |
|
Global Market Growth rate (2022-2032 E) |
CAGR of 6.3% |
|
Key Companies Profiled |
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What are drivers of demand for this market?
Multiple health benefits that the baobab powder provides is the reason the demand for baobab powder, it has been high in the market. Baobab powder is rich in Vitamin C and antioxidants and is utilized for the same in multiple food products such as beverages, sports nutrition bars, health supplements. The taste is a major factor for why baobab powder is gaining so much attention as well, baobab powder has been described to have a characteristic taste of cross between grapefruit, pear, and pineapple. This makes it an attractive drink additive of choice for all age groups.
The recent trend of healthy beverages and nutrition bars is influencing the baobab powder market positively. Multiple companies are coming forward with new product formulations incorporating baobab powder for its nutritional and health benefits. The demand for Baobab powder in the market has increased dramatically since its popularization in the European region by Aduna Ltd. Due to the internet culture, the trend for an increased preference towards value-added products and demand for healthier products is being picked up worldwide and not just clustered in a region anymore. This has surged the demand for baobab further.
Recent reports suggest that the main source of baobab powder are Zimbabwe and West Africa but the demand is growing at a pace that suppliers cannot keep up with the demand. North America and Europe are two of the major region for baobab powder demand. Baobab powder, apart from baobab oil is also used in cosmetic products for its antioxidant-rich nature.
What are challenges faced by manufacturers?
Despite nutritional properties attracting customers to adopt it as part of diets, the high cost of these products affects penetration among customers. The rise in prices of products is effective of the increased cost of production which is likely to affect the margin profit of firms in the forecast period. This is anticipated to restrain the market in the upcoming time.
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What are lucrative market opportunities in this market?
Baobab powder being a natural ingredient and owing to its beneficial form factor, has huge prospects as an integral sport nutrition bar ingredient. The demand for baobab powder is increased further by increasing trend of a liquid diet. Two major suppliers of baobab powder are Zimbabwe and West Africa. The demand for baobab has surged so high that the suppliers are unable to keep up with the increasing demand, opening up new opportunities for suppliers in the baobab powder market.
Owing to the increasing demand for healthier foods and value-added food products, the opportunities for market participants in the baobab powder market are plenty. New trends for quick nutritional bites such as sports nutrition bar and performance beverages has opened up new doors of opportunities for manufacturers and baobab powder producers alike.
Due to its attractive flavour profile, market giants such as PepsiCo and The Coca-Cola Company have launched drinks with baobab powder for flavor or as an ingredient. This speaks volumes about the market attractiveness for baobab powder in the for the food and beverages segment.
Segment wise Insights
On the basis of the end-user industry, the food and beverage sector is accounted for a major share of the market. The medical application of baobab is likely to boost the pharmaceutical industry. Due to the specific qualities and health benefits of this plant is anticipated to increase consumption in upcoming years. Furthermore, there is significant government support available in this domain which is likely to increase the inclusion of its usage in the food segment.
On the basis of product type, the flour segment dominates in market share at present. This dominance is due to the multivariate applications of flour in the medicines and food sector. This powder is preferred for longer shelf life. The keenness of people towards diet is now increasing than ever before which fuel up demand for healthy food options.
Based on the distribution channels, Supermarkets are dominant in the sector with the highest share. The hypermarkets provide customers variety of in-store options with assistance from salespersons. This facilitation was likely to increase store preferences in the upcoming period. The perishability of plants is another criterion for which consumers prefer visiting stores to buy them. However online sales are anticipated to gain traction owing to a rise in doorstep delivery amenities and penetration of online order applications.
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Competitive landscape highlights only certain players
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Segmentation
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On the basis of Application:
- Food and beverages
- Nutraceuticals
- Personal care and cosmetics
- others
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On the basis of Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Chile
- Peru
- Rest of Latin America
- Europe
- EU–4 (Germany, France, Italy, Spain)
- U.K.
- BENELUX (Belgium, Netherlands, Luxemburg)
- NORDIC (Norway, Denmark, Iceland, Sweden)
- Eastern Europe (Poland, Ukraine, Czech Rep., etc.)
- Rest of Europe
- CIS & Russia
- Japan
- Asia - Pacific excluding Japan (APEJ)
- Greater China
- India
- S. Korea
- ASEAN Countries
- Rest of APEJ
- Middle East & Africa (MEA)
- GCC Countries
- Turkey
- Iran
- Israel
- South Africa
- Rest of MEA
- North America
Table of Content
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Application 7. Global Market Analysis and Forecast, By Application 7.1. Food and beverages 7.2. Nutraceuticals 7.3. Personal care and cosmetics 7.4. others 8. Global Market Analysis and Forecast, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. Asia Pacific 8.6. East Asia 8.7. MEA 9. North America Sales Analysis and Forecast, by Key Segments and Countries 10. Latin America Sales Analysis and Forecast, by Key Segments and Countries 11. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 12. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 13. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries 14. East Asia Sales Analysis and Forecast, by Key Segments and Countries 15. MEA Sales Analysis and Forecast, by Key Segments and Countries 16. Sales Forecast by Application for 30 Countries 17. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 18. Company Profile 18.1. ADUNA Ltd. 18.2. Baobab Foods 18.3. LLC 18.4. B'Ayoba 18.5. NP Nutra® 18.6. Mighty Baobab Limited London 18.7. Organic Africa 18.8. EcoProducts 18.9. ATACORA 18.10. Halka B Organics
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List Of Table
Table 1: Global Market US$ Mn Forecast by Region
Table 2: Global Market US$ Mn Forecast by Application
Table 3: North America Market US$ Mn Forecast by Country
Table 4: North America Market US$ Mn Forecast by Application
Table 5: Latin America Market US$ Mn Forecast by Country
Table 6: Latin America Market US$ Mn Forecast by Application
Table 7: Western Europe Market US$ Mn Forecast by Country
Table 8: Western Europe Market US$ Mn Forecast by Application
Table 9: Eastern Europe Market US$ Mn Forecast by Country
Table 10: Eastern Europe Market US$ Mn Forecast by Application
Table 11: Asia Pacific Market US$ Mn Forecast by Country
Table 12: Asia Pacific Market US$ Mn Forecast by Application
Table 13: East Asia Market US$ Mn Forecast by Country
Table 14: East Asia Market US$ Mn Forecast by Application
Table 15: MEA Market US$ Mn Forecast by Country
Table 16: MEA Market US$ Mn Forecast by Application
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List Of Figures
Figure 1: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 2: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Region
Figure 3: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 4: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 5: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 6: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 7: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 8: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 9: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 10: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 11: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 12: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 13: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 14: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 15: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 16: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is present market size in this domain?
The global market for baobab powder is valued at USD 7441.91 Million in 2022.
What is future lookout for this market?
The market is likely to cross the valuation of USD 13,709.36 Million by end of 2032.
What is anticipated rate of growth for this market in forecast duration?
The market is anticipated to grow with a CAGR of 6.3% in the forecast period.
Who are key market players in this industry?
The key players in this industry are- • Baobab Foods • LLC • B'Ayoba • NP Nutra® • Mighty Baobab Limited London • Organic Africa
Baobab Powder Market