Baobab Market Size Research Report
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.
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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
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
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