The Baobab Powder Market is booming, set to reach $10 billion by 2027 with a 6.2% annual growth rate. North America leads this surge, expected to dominate the market. Baobab powder’s popularity stems from its recognition as a superfood, widely used in various products for its health benefits and skin-enhancing properties. Its high nutrient content makes it a preferred choice in health-conscious diets worldwide.
Estimates place the market for Baobab Powder Market at US$ 6.97 billion in 2021. At a compound annual growth rate (CAGR) of 6.2%, the market is projected to reach US$ 10 billion by 2027.
The global Baobab Powder Market is experiencing a significant surge, anticipated to reach a valuation of $10 billion by 2027, boasting a robust annual growth rate of 6.2%. North America spearheads this boom and is poised to dominate the market. The soaring popularity of Baobab powder, hailed as a superfood, is attributed to its myriad health benefits and skin-enhancing properties. Its nutrient-rich composition has positioned it as a preferred choice in health-conscious diets worldwide.
As of 2021, the estimated market value for Baobab Powder stood at $6.97 billion, with projections indicating a Compound Annual Growth Rate (CAGR) of 6.2%, culminating in the anticipated $10 billion mark by 2027.
North America is expected to lead the Baobab powder market, maintaining a 3.1% CAGR through 2027. In 2021, the North American market was forecasted at $1.81 billion, with powdered Baobab making significant inroads into gourmet items, vitamins, and capsules.
The escalating global awareness of Baobab powder’s advantages is driving its demand in various products such as cereals and bars. Its incorporation in anti-aging treatments, owing to its skin benefits like cell regeneration, protection from extreme temperatures, and antioxidant properties, further contributes to its market growth.
Key Points:
- Skin Benefits: Baobab powder’s use in anti-aging lotions is fueled by its skin benefits, including protection from extreme temperatures, cell regeneration, and antioxidant properties.
- Global Appeal: Increasing consumer awareness of health benefits drives the global demand for Baobab powder in various food products like cereals and bars.
- Nutrient-Rich Profile: The high calcium and potassium content in Baobab powder positions it as a preferred choice in health-conscious diets worldwide.
- Top Companies: Leading companies in the Baobab Powder Market include EcoProducts, Baobab Fruit Company Senegal, B’Ayoba, Organic Africa, Aduna Limited, Etude House, Woodland Foods, Powbab Inc, ATACORA, Halka B. Organics, Indigo Herbs LTD, and Organic Burst UK Ltd.
Baobab powder’s largest market will be in North America if its 3.1% CAGR growth rate is maintained through 2027. In 2021, the market was projected to be valued US$ 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. Because of its high calcium and potassium content, it can be found in many cuisines and is a favourite choice among consumers who are health-conscious globally.
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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.
Key Takeaways:
- Market Size and Growth: The Baobab Powder Market is predicted to hit $10 billion by 2027, exhibiting a robust CAGR of 6.2%.
- Regional Dominance: North America is poised to be the leading market, expected to maintain a 3.1% CAGR through 2027.
- Health and Beauty Applications: Baobab powder’s recognition as a superfood contributes to its extensive use in health-conscious diets and skin-enhancing products.
- Product Segmentation: The organic Baobab powder segment is anticipated to witness the highest CAGR, reaching an estimated value of $8,544.2 million by 2027.
- End-Use Significance: The retail segment is projected to hold the highest value share, accounting for 65.2% in 2017, with an estimated valuation of $6,545.1 million by 2027.
- Sales Channel Analysis: Indirect sales are expected to dominate, representing 75.4% of the market share in 2017, reaching an estimated value of $7,602.1 million by 2027.
Segmental Forecast of the global baobab powder market
On the basis of product type (organic baobab powder, conventional baobab powder), end use (industrial, retail), sales channel (direct sales, indirect sales), and region, the global baobab powder industry is divided.
Forecast by Product Type: Organic baobab powder segment is expected to register the highest CAGR during the forecast period. The organic baobab powder segment is estimated to be valued at US$ 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.
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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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