Transparency
Market Research (TMR), in its recent outlook, titled, 'Baobab
Ingredient Market: Global Industry Analysis and Opportunity
Assessment, 2018-2026', projects that, in terms of value, the global
baobab ingredient market revenue
is expected to expand at a CAGR of 5.3% during the forecast period.
In terms of revenue, the global baobab ingredient market accounted
for around US$ 3,921.1 Mn in 2017, and is anticipated to increase to
roughly US$ 6,289.4 Mn by 2026. Baobab ingredients are strongly
associated with prebiotic properties, and they are an antioxidant,
expecting a surge in revenue growth of the baobab ingredient market.
By
type, the baobab ingredient market is segmented into baobab pulp,
baobab powder, and baobab oil. The baobab powder segment is likely to
be the most attractive segment in the baobab ingredient market over
the forecast period, owing to its versatile nature and wide range of
applications. Baobab powder is used as an ingredient in the beverage
industry. On the basis of source, the baobab ingredient market can be
segmented into organic and conventional. The conventional segment in
the baobab ingredient market is estimated to account for a
significant revenue share of 80.6% in 2018 and is expected to
register a significant growth rate during the forecast period. By
application, the baobab ingredient market is segment as industrial
and retail. The industrial segment in the baobab ingredient market is
likely to be the most attractive segment during the forecast period,
with the highest market share. Furthermore, on the basis of
distribution channel, the baobab ingredient market is segmented into
direct and indirect. The indirect segment of the baobab ingredient
market is further sub-segmented into specialty stores, online stores,
and others. Amongst these sub-segments, the specialty stores segment
is anticipated to occupy the largest market share of 65.0% in 2018 in
the global baobab ingredient market. The online stores sub-segment in
the baobab ingredient market is expected to register a high growth
rate during the forecast period.
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This
report covers the trends driving each segment, and offers analysis
and insights regarding the potential of the baobab ingredient market
in specific regions. In terms of value, North America and Europe are
likely to account for approximately 67.9% share by the end of 2026.
Also, North America is expected to dominate the baobab ingredient
market through 2026 in terms of demand, followed by Europe and Asia
Pacific.
Consumers
are becoming more aware about the benefits of baobab ingredients,
which, in turn, is surging the demand for baobab ingredient-based
products, and is enhancing the sales of cereal and bar products.
Baobab ingredients have numerous skin benefits, owing to which, they
are used in various products such anti-aging creams, as they are rich
in omega-3, 6, and 9 fatty acids, which protect the skin against
high/low temperatures, and rejuvenates skin cells, moisturizes the
skin, and prevents it from free radical damage as it consists of
antioxidant properties. Baobab ingredient products help with
anti-aging, as they consist of anti-inflammatory properties. All
these factors collectively are expected to drive the baobab
ingredient market over the forecast period.
The
increasing global health conscious population has been a major reason
for witnessing a change in the food and wellness market. Consumer
inclination towards a healthy lifestyle has led to a higher
consumption of food products that consist of ingredients such as
baobab that have potential health benefits. To cater to the rising
demand for better nutrition, millions of products, on a global level,
are being developed using natural extracts such as baobab ingredient.
Detailed
profiles of the providers are also included in the scope of the
baobab ingredient report to evaluate their long-term and short-term
strategies, key offerings, and recent developments in the baobab
ingredient space. Baobab ingredient producers includes Aduna Limited,
Afriplex, Atacora, Baobab Foods, Baobab Fruit Company Senegal,
BioessenceTrade, BI Nutraceuticals, B'Ayoba (Pvt) Ltd., Eco Products,
Halka B Organics, Indigo Herbs Limited, Mighty Baobab Limited, NP
Nutra, Organic Africa, Organic Herb Trading, PhytoTrade Africa,
Rawsome Foods, Simpli Ingredients, TheHealthyTree Company, and
Woodland Foods.
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