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.
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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.
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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