Europe Baobab Ingredient Market share to witness growth of over 4% during 2019 to 2024, increasing consumer awareness for health benefits associated with product.
— Asia Pacific baobab ingredient industry sized to be over USD 650 million in 2017 and is anticipated to exceed USD 950 million by 2024. Countries including Japan, China and India are major consumers of nutraceutical products along with being a major hub for functional food & beverage industry thus driving product demand.
China baobab ingredient market will witness strong gains up to 3.5% by 2024 owing to rising demand for healthy food products. The product when incorporated in foods enhance the nutrition level which help to slow down releasing of sugar in blood and reduce visceral fat in human body. Rising disposable income of consumers along with government initiatives for organic products would strengthen regional industry growth.
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UK baobab ingredient industry is anticipated to exceed USD 350 million by 2024 owing to growing health concerns from obesity. The product treats type 2 diabetes, heart related diseases, and obesity. Existence of major functional food producers in the region and their striding drive for new product innovation would strengthen regional industry growth.
Baobab ingredient organic powder market is anticipated to surpass USD 450 million during the project timeframe. It is infused in functional foods to intensify their nutritional content and to innovate new products. The product is extensively utilized in manufacturing ice-creams, cookies, and dietary supplements due to its unique flavor & taste. It can be mixed in smoothies thus boosting market growth.
Baobab fruit is the only essential raw material for producing baobab ingredient. Production is labor-intensive and extensive procurement process and is mainly concentrated in Africa. High transportation cost from these regions adds up to final cost of baobab ingredient and making it it a premium product.
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Global baobab ingredient market share is fragmented and highly competitive with key manufacturers including Atacora, Organic Africa, Baobab Fruit Company, The Healthy Tree, Halka B Organics, Afriplex, Mighty Baobab Limited and Aduna Limited. Manufacturers are focusing on developing long-term contracts with farmers for easy and timely sourcing of the product. They are also expanding their distribution network by evolving into strategic initiatives through collaboration, mergers & acquisition. Companies are investing heavily in R&D for new product innovations to strengthen their market penetrability.
Baobab ingredient market from cosmetic & personal care should witness substantial gains at over 4.5% in the projected time-frame. The product has nutritive compounds which help in dermis protection and soothing of skin. It contributes to restoring smoothness of hair and skin to assure protection against inflammatory phenomenon. It is appropriate for after-sun skin care, moisturizing skin, anti-aging skin care and restructuring hair care. Growing demand for organic cosmetic & personal care products would upsurge market growth.
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Baobab ingredient market from pulp is anticipated to exceed USD 400 million by 2024 owing to presence of vitamin C which is believed to have antiviral, anti-oxidant, antimicrobial, and anti-inflammatory properties.
Growing health awareness and consumer inclination towards organic products would drive global baobab ingredient market. Occurrence of antioxidant, fiber, and essential vitamins & minerals in the product helps to boost immunity, hydration in human body, metabolism hence, propelling product demand.
Name: Arun Hegde
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Organization: Global Market Insights, Inc.
Release ID: 522925