The global moringa extract market is poised for significant expansion, with projected revenues expected to soar from US$ 1,243.6 million in 2023 to US$ 4,986.4 million by 2033, reflecting a robust CAGR of 14.9%. This growth is fueled by increasing consumer awareness about health and wellness, driving demand for natural supplements like moringa extract.
Growing consumer focus on health and wellness is propelling the demand for moringa extract, known for its rich nutrient profile and antioxidant properties. As consumers seek natural and plant-based alternatives to support their well-being, moringa extract emerges as a preferred choice due to its perceived health benefits and versatility in various applications.
One of the key drivers of market growth is the growing popularity of plant-based diets. Moringa extract serves as an excellent source of essential nutrients for vegetarians and vegans, driving demand among these consumer segments.
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Furthermore, the trend towards clean label products is boosting the adoption of moringa extract, as it is perceived as a pure and minimally processed ingredient. Consumers are increasingly seeking transparency in product ingredients, leading to a rise in demand for natural and sustainably sourced ingredients like moringa extract.
Key Trends Driving Market Growth:
- Growing Interest in Natural Health Supplements: Consumers are increasingly turning to natural and plant-based health supplements, driving demand for moringa extract known for its nutrient-rich composition.
- Sustainable Agricultural Practices: Sustainable farming practices are being adopted to meet the growing demand for moringa extract while minimizing environmental impact, appealing to environmentally conscious consumers.
- Increasing Use in the Food Sector: Moringa extract is finding applications in the food sector, with its inclusion in various food products contributing to market growth.
- Sustainable and Ethical Sourcing: Consumers are placing greater emphasis on ethical and sustainable sourcing practices, favoring companies that promote transparency and sustainability in moringa cultivation and extraction processes.
“Moringa extract is witnessing heightened demand as consumers seek natural alternatives for health and well-being. Its versatility and nutritional profile make it an attractive option for dietary supplements and functional foods.” – Nandini Roy Choudhury, Client Partner at Future Market Insights
Country-wise Insights:
- United States: Growing demand for natural supplements is expected to drive the moringa extract market in the United States, with rising interest in wellness and nutrition fueling demand.
- United Kingdom: Perceived health benefits and nutritional value are driving the moringa extract market in the UK, with increasing consumer focus on health and wellness.
- India: India’s rich cultural and medicinal heritage contributes to the growth of the moringa extract market, with increasing consumer awareness and favorable agricultural conditions supporting market expansion.
Category-wise Insights:
- Leaf Extract: Demand for leaf extract remains high due to its exceptional nutrient density, making it a sought-after choice for health-conscious consumers.
- Powder Extract: Powder moringa extract is witnessing significant demand due to its easy availability and versatility in various food and beverage products.
- Dietary Supplements: The dietary supplement segment remains a prominent end-user of moringa extract, driven by increasing consumer demand for natural, plant-based solutions to improve overall health and well-being.
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Competitive Landscape of Moringa Extract Market
Key manufacturers expand their product lines to include various moringa extract products, such as powder, oil, capsules, and teas, to cater to consumer preferences. They are ensuring the quality and purity of moringa extract through rigorous testing and certifications to build consumer trust. They also emphasize sustainable and ethical sourcing practices to meet the increasing demand for eco-friendly and socially responsible products.
Recent Development in the Moringa Extract Market:
- In July 2023, The inclusion of Moringa oleifera to its selection of cosmetic oils has been announced by Naturally Australian Products (NAP). A Ghanaian manufacturer is the source of NAP’s moringa seed extract and moringa leaf powder.
- In September 2022, by receiving Informed Ingredient accreditation for its product MorActive, a blend of moringa seeds, extracts, and Sunfiber, Taiyo has continued to advance assurance of quality in the athletic nutrition and lifestyle supplementation sectors.
- In October 2022, The United Kingdom’s Government Chemists’ Laboratory (LGC) complete global prohibited components testing and certification Scheme for dietary supplement components has officially verified Taiyo’s new moringa seed extract.
Key Takeaways for Investors:
- Explosive Growth Potential: With a projected CAGR of 14.9% and revenues expected to reach US$ 4,986.4 million by 2033, the moringa extract market presents lucrative investment opportunities for investors seeking high-growth sectors.
- Diverse Applications: Moringa extract finds applications in various sectors, including dietary supplements, food products, and cosmetics, offering investors diverse revenue streams and market exposure.
- Consumer Preference for Natural Products: Increasing consumer preference for natural and plant-based supplements positions moringa extract as a promising investment opportunity, aligning with evolving consumer trends towards health and wellness.
- Sustainable Sourcing Practices: Companies emphasizing ethical and sustainable sourcing practices for moringa extract are likely to gain competitive advantage and attract investor interest, as sustainability becomes a key focus area for consumers and businesses alike.
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Global Segmentation of Moringa Extract Market
By Product Type:
- Moringa Leaf Extract
- Moringa Seed Extract
- Moringa Bark Extract
- Moringa Root Extract
By Form:
- Powder
- Liquid
- Capsules/ Tablets
By End Use:
- Food and Beverages
- Dietary Supplement
- Cosmetics and Personal Care
- Pharmaceuticals
- Animal Feed
By Distribution Channel:
- Hypermarkets/ Supermarkets
- Convenience Stores
- Pharmacy & Health Stores
- Specialty Stores
- Independent Small Groceries
- Online Retailing
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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