(Entertainment-NewsWire.com, June 27, 2021 ) Baobab Powder Market size is estimated to be $6.8 billion in 2020, growing at a CAGR of 4.4% during the forecast period 2021-2026. Baobab is the name of a fruit from the Adansonia genus of tree which is found inside hard pods that hang upside-down from the trees. Baobab is usually consumed as a powder made from the harvested fruit that is dried and grounded and has a pleasant citrusy flavor. Moreover, baobab powder is a rich source of vitamin C, which contributes to normal energy release, immune function, healthy and glowing skin. Hence, the rising health benefits associated with baobab powder is a vital factor contributing to its market growth. Apart from this, the wide usage of baobab powder in sports, nutrition and health supplements as consumers are preferring drinks with nutritional benefits is another factor fostering its market growth. Hence, in order to meet with the consumer’s preference for drinks with a high nutritional profile, the manufacturers are coming up with a wide range of products. For instance, in January 2020, EcoProducts B’Ayoba the southern African producer of the industry’s only FairWild and organically certified baobab fruit powder launched two new products formulated primarily for beverage application including ready-to-use baobab paste and red baobab tea.
Baobab Powder Market Segment Analysis - By Application
By Application. the Baobab Powder Market is segmented Food and Beverages, Nutraceuticals, Personal Care and Cosmetics and Others. Food and Beverages segment held the largest market share in the year 2020 owing to the increasing demand among consumers for beverages with high nutritional content. Moreover, baobab powder has a light and subtly tangy flavor that blends perfectly with other fruit flavors, making a nutrient-rich addition to a number of food and beverage products. In addition, the well-rounded nutritional profile of baobab powder lend itself to a wide range of uses and provides a number of opportunities for food innovation, depending on what the manufacturers need to highlight i.e. antioxidants, fiber, low GI and diabetes. Also, nutraceuticals segment is projected to witness growth at fastest CAGR of 5.2% in forecast period 2021-2026 owing to the wide usage of baobab powder in various nutritional supplements. In addition, the use of this powder in supplements tends to improve the liver function which in turn supports the body’s natural detoxification ability.
Baobab Powder Market Segment Analysis - By Distribution Channel
By Distribution Channel, the Baobab Powder Market is segmented into Supermarket/Hypermarket, Convenience Stores, Retail Stores and Others. Retail Stores segment held the largest market share in the year 2020 owing to its ability of providing huge variety of products to its customers. Moreover, amazon provides a wide range of organic baobab powder for various application which serves as a vital factor for its market growth. Also, supermarket segment is projected to witness growth at fastest CAGR of 5.5% in forecast period 2021-2026 owing to the ease of providing a large variety of baobab powder to its customer at a particular place.
Baobab Powder Market Segment Analysis - By Geography
North America contributed to the largest market share of 44% in 2020 owing to the increasing awareness among consumers regarding health benefits associated with baobab powder, growing elderly population along with the presence of key players in the region manufacturing a variety of products using baobab powder is a vital factor highly supporting its market growth in that region. For instance, according to the World Health Organization about 422 million people worldwide have diabetes, the majority living in low and middle-income countries and 1.6 million deaths are directly attributed to diabetes each year. Both the number of cases and prevalence of diabetes have been steadily increasing over the past few decades. RoW Baobab Powder Market is another dominant market owing to the large-scale production of baobab in South Africa.
Baobab Powder Market Drivers
Increasing Usage of Baobab Powder in Beverage Industry
Increasing usage of baobab powder in beverage industry is a significant factor driving the Baobab Powder Market during the forecast period 2021-2026. For instance, baobab is widely used in flavored waters, smoothies, juices and sparkling beverages owing to its tangy flavor and various health benefits. Moreover, the consumers are increasing the adoption of beverages with baobab owing to its various health benefits as it boosts the immune system, help balance blood sugar levels, reduce inflammation and helps in weight loss. Therefore, the rising usage of baobab in beverage industry is a vital factor contributing to its market growth.
Rising Number of People Suffering from Cancer
Rising number of people suffering from cancer along with recent research conducted at the University of Otago, New Zealand laboratory trails proved that that the presence of vitamin C in baobab kill cancer cells which serves as a major factor driving the Baobab Powder Market during the forecast period 2021-2026. Hence, the global increase in the number of people suffering from cancer along with the large intake of baobab to kill cancer cells is a significant factor up surging its market growth. Moreover, according to World Health Organization cancer is the second leading cause of death globally, and is responsible for an estimated 9.6million deaths in 2018.
Side-Effects associated with the excess consumption of baobab powder serves as a major setback for the growth of the Baobab Powder Market during the forecast period 2021-2026. For instance, baobab powder leads to stomach pain, diarrhea and flatulence which in turn is hampering its market during the forecast period 2021-2026.
Baobab Powder Worldwide Market Industry Outlook
Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in Baobab Powder Market. Baobab Powder Market top 10 are Aduna Limited, Baobab Foods, B’Ayoba, NP Nutra, Mighty Baobab Limited London, Organic Africa, EcoProducts, Atacora, Halka B Organics, and Organic Burst UK Ltd.
Developments:
August 2016: Coca-Cola launched a soft drink which counts baobab extracts among its ingredients with low-calorie content.
Key Takeaways
Food and Beverages segment held the largest market share in the year 2020 owing to the increasing demand among consumers for beverages with high nutritional content.
Retail Stores segment held the largest market share in the year 2020 owing to its ability of providing huge variety of products to its customers.
North America contributed to the largest market share of 44% in 2020 owing to the increasing awareness among consumers regarding health benefits associated with baobab powder, growing elderly population along with the presence of key players in the region manufacturing a variety of products using baobab powder is a vital factor highly supporting its market growth in that region.
Increasing usage of baobab powder in beverage industry is a significant factor driving the Baobab Powder Market during the forecast period 2021-2026.
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