The Baobab Powder Market is booming, expected to increase at a rate of 6.2% a year to reach $10 billion by 2027. Leading this boom and predicted to dominate the market is North America. The utilisation of baobab powder in many different products due to its reputation as a superfood with health benefits and skin-improving qualities is what has made it so popular. Due to its rich nutrient content, it is a popular choice in diets across the globe that prioritise health.
The market for baobab powder is expected to reach US$ 6.97 billion by 2021. By 2027, the market is expected to develop at a compound annual growth rate (CAGR) of 6.2% and reach US$ 10 billion.
Baobab powder’s largest market will be in North America if its 3.1% CAGR growth rate is maintained through 2027. In 2021, the market was projected to be valued US$ 1.81 billion. Known as the newest superfood, powdered baobab is widely utilised in gourmet items, vitamins, and capsules.
Growing awareness of the advantages of baobab powder is fueling the market’s explosive global growth. Baobab powder is in great demand for goods like cereals and bars. Anti-aging treatments also include it because of its benefits for the skin. It is a popular choice among health-conscious consumers worldwide and may be found in many different cuisines due to its high calcium and potassium levels.
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Over the course of the assessment year, a rapid growth in the worldwide baobab powder business is anticipated. Future Market Insights examines the elements influencing baobab powder’s attractiveness and popularity around the world. The demand for goods like cereals and bars that contain baobab powder is rising as consumers become more aware of the benefits of the powder.
Baobab powder is commonly used as a component in anti-aging lotions due to its many skin benefits, which include shielding the skin from extreme heat or cold, regenerating skin cells, moisturising the skin, and preventing free radical damage. Baobab powder is commonly used in foods like cereals, bars, and jellies because of its high calcium and potassium content. Baobab powder is becoming more and more well-liked worldwide due to its many health benefits.
Segmental Forecast of the global baobab powder market
On the basis of product type (organic baobab powder, conventional baobab powder), end use (industrial, retail), sales channel (direct sales, indirect sales), and region, the global baobab powder industry is divided.
Forecast by Product Type: Organic baobab powder segment is expected to register the highest CAGR during the forecast period. The organic baobab powder segment is estimated to be valued at US$ 8,544.2 Mn by 2027 end and is expected to expand at a CAGR of 6.5% over the forecast period.
Forecast by End Use: The retail segment is estimated to account for the highest value share of 65.2% in 2017 and is projected to reach a market valuation of US$ 6,545.1 Mn by 2027 end, registering a CAGR of 6.3% over the forecast period.
Forecast by Sales Channel: The indirect segment is estimated to account for the highest value share of 75.4% in 2017. This segment is estimated to be valued at US$ 7,602.1 Mn by 2027 end and is expected to expand at a CAGR of 6.3% over the forecast period.
Forecast by Region: North America followed by Western Europe will be the leading markets in the global baobab powder industry with an anticipated value share of about 30% and 25% respectively by the end of 2027. North America will witness the highest regional CAGR of 6.8% during the forecast period.
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Competitive Landscape
The report profiles some of the top companies operating in the global baobab powder market including:
- EcoProducts
- Baobab Fruit Company Senegal
- B’Ayoba (Pvt) Ltd
- Organic Africa, Aduna Limited
- Etude House
- Woodland Foods
- Powbab Inc
- ATACORA
- Halka B. Organics
- Indigo Herbs LTD and Organic Burst UK Ltd.
Companies are focussing on addressing customer centric product demand by expanding their product portfolio and introducing a variety of products in the global market. Suppliers are entering into long-term contracts with baobab products manufacturers to avoid increase in product prices, and baobab manufacturers are also benefitting from these long-term contracts with suppliers as it helps them sustain their operations.
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Market Taxonomy
By Product Type:
- Organic Baobab Powder
- Conventional Baobab Powder
By Sales Channel:
- Direct Sales
- Indirect Sales
- Speciality Whole Shops
- Online Retail
By End Use:
- Industrial
- Food
- Functional Food
- Dairy Products
- Bakery and Confectionery
- Others (pet food, tea, etc.)
- Beverages
- Alcoholic
- Non-Alcoholic
- Nutraceuticals
- Cosmetics
- Food
- Retail
By Region:
- North America
- Western Europe
- Eastern Europe
- Latin America
- APEJ
- Japan
- Africa
- Middle East
Global Baobab Powder Market Forecast 2017-2027
Future Market Insights predicts the global baobab market to be valued at about US$ 5,483 Mn by the end of 2017 and will continue to grow at a CAGR of 6.2% during the period of study to reach a market valuation of about US$ 10,004 Mn by the end of the forecast period.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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