Global Baobab Powder Market Size Analysis, 2018-2028
|REPORT ID: BKR833||Domain: Food & Beverages||Published Date: September 2018|
Global Baobab powder market size is valued over US$ 5.7 Billion in 2018 and is expected to register a CAGR of 5.7% to create high revenue opportunity for industry players. Over 101 kilo tons of baobab was consumed in 2017.
Baobab powder is processed from Baobab, which is highly enriched with vitamin C and other vital minerals. Demand for the processed fruit has increased and is widely used as dietary supplements and food ingredients. Baobab is rightly considered as next superfood. As such, its demand is escalating in developed regions.
Majority of the baobab powder is processed and packaged in Africa. Easy availability of raw fruits along with cheap labor has led to high cost on returns value. Once processed, the product is exported worldwide.
While the product offers immense benefits, lack of consumer awareness has deterred the potential growth. According to estimates, less than 15% of global population is aware of baobab fruits. Sales is expected to boost with higher demand for organic products. In order to maximize reach, engaged companies are actively pushing the product through online sales channel.
Global Baobab Powder Market Analysis, By Application
Functional beverages will continue to dominate the global baobab powder demand worldwide. Baobab powder is widely used in sports and nutritional drinks. Consumers are shifting towards healthy diets and are relying on organic products. Addition of baobab ingredients has proved futile to beverage suppliers. It is six times higher antioxidant than other fruits including blueberries. As such, many players are actively using baobab.
Another prominent sector is personal care industry. These powder are added in various pharmaceutical and personal care products such as moisturizer and vanishing cream.
Global Baobab Powder Market Size and Forecast: Regional Analysis
Globally, North America was valued over US$ 1,700 million in 2017 and is set to dominate the global share throughout the forecast period. Consumption in the region is increasing at a very high rate and is expected to be included in many more functional beverages as active ingredients.
Asia Pacific has a very miniscule share in the overall consumption f baobab powder. China is one the key region that not only witnessing rise in consumption but also production scenario. The region is expected to register a CAGR of 9.7% during the forecast period.
Global Baobab Powder Market Size and Forecast: Competition Landscape
Some key baobab powder players are Eco Products, Bayoba Ltd., Aduna Limited, Indigo Herbs Limited, Atacora Essentials, Organic Burst UK Ltd., Stern Ingredients Inc., Z Natural Foods LLC, Organic Herb Trading Company, Ecuadorian Rainforest LLC, Baobab Foods, Powbab, AFAFIA, Holland & Barrett, Farafina, Kiki, and Organic Africa.
Baobab Powder Market Data and Research Scope
- Food Sector
- Functional Foods
- Dietary Supplements
- Dairy Products
- Alcoholic Beverages
- Non- Alcoholic Beverages
- Personal Care
By Distribution Channel:
- Hypermarkets and Supermarkets
- Convenience Stores
- Online Sales Channels
- General Stores