The Baobab Powder Market is growing, expected to expand at a rate of 6.2% annually and reach $10 billion by 2027. Leading this boom and It is anticipated that North America will lead the market. Baobab powder’s popularity might be attributed to its use in numerous products, as it is widely recognised as a superfood possessing health benefits and skin-improving properties. Owing to its high nutrient content, it is a common option in diets that prioritise health all over the world.
By 2021, the baobab powder market is projected to grow to a value of US$ 6.97 billion. By 2027, the market is expected to develop at a compound annual growth rate (CAGR) of 6.2% and reach US$ 10 billion.
If the 3.1% CAGR growth rate for baobab powder is sustained through 2027, North America will represent the largest market for the product. The market was estimated to be worth US$ 1.81 billion in 2021. Powdered baobab, dubbed the newest superfood, is commonly used in gourmet foods, supplements, and capsules.
The market is expanding rapidly on a global scale as consumers become more aware of the benefits of baobab powder. There is a high demand for baobab powder in products like cereals and bars. It is also used in anti-aging therapies due to its beneficial effects on the skin. It is a popular choice among health-conscious consumers worldwide and may be found in many different cuisines due to its high calcium and potassium levels.
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Over the course of the assessment year, a rapid growth in the worldwide baobab powder business is anticipated. Future Market Insights examines the elements influencing baobab powder’s attractiveness and popularity around the world. The demand for goods like cereals and bars that contain baobab powder is rising as consumers become more aware of the benefits of the powder.
Baobab powder is often used as an ingredient in anti-aging lotions due to its numerous skin advantages, which include protecting the skin from excessive heat or cold, renewing skin cells, moisturising the skin, and avoiding free radical damage. Baobab powder’s high calcium and potassium concentration makes it popular in cereals, bars, and jellies. Baobab powder is gaining popularity worldwide due to its numerous health advantages.
Segmental Forecast of the global baobab powder market
On the basis of product type (organic baobab powder, conventional baobab powder), end use (industrial, retail), sales channel (direct sales, indirect sales), and region, the global baobab powder industry is divided.
Forecast by Product Type: Organic baobab powder segment is expected to register the highest CAGR during the forecast period. The organic baobab powder segment is estimated to be valued at US$ 8,544.2 Mn by 2027 end and is expected to expand at a CAGR of 6.5% over the forecast period.
Forecast by End Use: The retail segment is estimated to account for the highest value share of 65.2% in 2017 and is projected to reach a market valuation of US$ 6,545.1 Mn by 2027 end, registering a CAGR of 6.3% over the forecast period.
Forecast by Sales Channel: The indirect segment is estimated to account for the highest value share of 75.4% in 2017. This segment is estimated to be valued at US$ 7,602.1 Mn by 2027 end and is expected to expand at a CAGR of 6.3% over the forecast period.
Forecast by Region: North America followed by Western Europe will be the leading markets in the global baobab powder industry with an anticipated value share of about 30% and 25% respectively by the end of 2027. North America will witness the highest regional CAGR of 6.8% during the forecast period.
Competitive Landscape
The report profiles some of the top companies operating in the global baobab powder market including:
- EcoProducts
- Baobab Fruit Company Senegal
- B’Ayoba (Pvt) Ltd
- Organic Africa, Aduna Limited
- Etude House
- Woodland Foods
- Powbab Inc
- ATACORA
- Halka B. Organics
- Indigo Herbs LTD and Organic Burst UK Ltd.
Companies are focussing on addressing customer centric product demand by expanding their product portfolio and introducing a variety of products in the global market. Suppliers are entering into long-term contracts with baobab products manufacturers to avoid increase in product prices, and baobab manufacturers are also benefitting from these long-term contracts with suppliers as it helps them sustain their operations.
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Market Taxonomy
By Product Type:
- Organic Baobab Powder
- Conventional Baobab Powder
By Sales Channel:
- Direct Sales
- Indirect Sales
- Speciality Whole Shops
- Online Retail
By End Use:
- Industrial
- Food
- Functional Food
- Dairy Products
- Bakery and Confectionery
- Others (pet food, tea, etc.)
- Beverages
- Alcoholic
- Non-Alcoholic
- Nutraceuticals
- Cosmetics
- Food
- Retail
By Region:
- North America
- Western Europe
- Eastern Europe
- Latin America
- APEJ
- Japan
- Africa
- Middle East
Global Baobab Powder Market Forecast 2017-2027
Future Market Insights predicts the global baobab market to be valued at about US$ 5,483 Mn by the end of 2017 and will continue to grow at a CAGR of 6.2% during the period of study to reach a market valuation of about US$ 10,004 Mn by the end of the forecast period.
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