TheBaobab 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.
North America will become the largest market for baobab powder if it continues to grow at a 3.1% CAGR through 2027. The market was estimated to be worth US$ 1.81 billion in 2021. Powdered baobab is considered the newest superfood and is used extensively in vitamins, gourmet products, and capsules.
The benefits of baobab powder are becoming more widely known, which is propelling the market’s rapid expansion worldwide. Products such as cereals and bars are in high demand for baobab powder. Because of its benefits for the skin, it is also used in anti-aging treatments. 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.
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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