Revenue
from the global baobab powder market is estimated to be valued at
about US$ 5,483 Mn in 2017. By 2027 end, global baobab powder market
is expected to reach a value of around US$ 10,004 Mn registering a
CAGR of 6.2% over the forecast period (2017–2027). In terms of
volume, the global
baobab powder market is estimated to be pegged at 96,444
tonnes by 2017 end, and is expected to reach 125,618 tonnes by 2027
end, exhibiting a CAGR of 2.7%.
Baobab
powder is gaining traction in the beverage industry
The
functional beverage industry continues to grow annually throughout
the forecast period. Further it is expected that the sports,
nutritional and energy juice sales will increase at an accelerated
rate during the assessment period. With an increased focus on health
and wellness, beverage ingredients play a vital role and baobab
powder beverages are gaining traction in the market as consumers are
preferring nutritional drinks, which are rich in nutrition value
without added sugars or other artificial ingredients. Further,
there’s a lot of innovation in the healthy beverage space with new
product launches focused on functional and value added drinks. In
2016, Coca-Cola Iberia launched a new soft drink under its Aquarius
drinks brand named Vive, which counts baobab extract in its
ingredients. Aquarius Vive, which is a low calorie beverage has
gained volume growth of 8.5 percent. Pepsi also launched Pepsi baobab
drink, under the range that includes Pepsi cucumber in 2010.
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Natural
health benefits of baobab powder
Demand
for baobab powder is increasing and baobab tree is known as the ‘tree
of life’, which consists of high amount of vitamin C found in the
baobab fruit. Baobab powder provides vital fibre, antioxidants and
important minerals and helps in boosting energy levels, improves
immunity, aids in liver detoxification, cleansing and detoxifying,
reduces anxiety, strengthens the immune system, and also exhibits
anti-aging properties. Sales of baobab powder have increased over the
last few years due to its positive application in supplement and
food/beverages categories, which include cold cereals, and more
recently, as a functional ingredient in bars. Baobab powder is rich
in dietary fibre and improves the immune system.
Large
number of substitute products may hamper revenue growth of the baobab
powder market
The
baobab fruit is relatively low in protein, when compared with other
dehydrated fruits, but baobab dried fruit pulp contains all essential
and non-essential amino acids. Compared to other dehydrated fruits,
baobab contains slightly higher amounts of cystine and serine,
although the amino acid composition of all fruits does not differ
significantly. Baobab dried fruit pulp would therefore be ideal as an
ingredient for adding fibre to foods, as well as raising the overall
nutritional profile. However, due to the large number of substitute
products available in the market presently, the market for baobab
powder may get hindered during the assessment period.
Global
Baobab Powder Market Attractiveness Index, by Region
Among
all the regions, the markets in North America and Middle East and
Africa are expected to register high CAGRs of 3.1% and 2.9%
respectively in terms of volume during the forecast period. The
market in Western Europe has been estimated to account for a value
share of 25.1% by 2017 end. The market in North America is estimated
to account for the highest value share of 28.4% in 2017. Baobab
powder market in the region is expected to gain significant market
share by 2027 end. The baobab powder market in Western Europe is
expected to register a CAGR of 6.3% in terms of value, and a CAGR of
2.6% in terms of volume over the forecast period.
Growing
popularity of baobab supplements
With
an exotic, tangy flavour described as a cross between grapefruit,
pear and vanilla, the baobab fruit has been used for years in Africa.
Changing consumer preferences, tastes and eating and purchasing
habits, as well other factors affecting the industry including new
market entrants and demographic changes may have a bearing on the
global baobab powder market. Baobab powder has grown in popularity
and is widely used in supplements, capsules and food products with
many claiming it to be the latest super food.
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