Tamarind Extract Market

Tamarind Extract Market

The global tamarind extract market is valued at USD 406.4 Million in 2022. Further, this market is expected to grow with a CAGR of 6.9% in the forecast period. The global tamarind extract market is expected to cross USD 792.01 Million by end of 2032.

Report Attributes	Details
Tamarind Extract Market size (2022 A)	USD 406.4 Million
Base Year for Estimation	2022
Forecast duration for this research	2022-2032
Forecasted Market value (2032 F)	USD 792.01 Million
Global Market Growth rate (2022-2032 E)	CAGR of 6.9%
Key Companies Profiled	Kanegrade Limited Abc International Abdullabhai Abdul Kader Baaeco V Food Ltd. MoonLite Xi'an Victory Biochemical Technology Co. Ltd. Abc International Revata Food Products Pvt Ltd Shimla Hills Adli Foods (India) Pvt. Ltd.

Factors in Favour of Rising Demand for Tamarind Extract

Most of the market demand for tamarind extract is driven by the healthcare and food sector owing to its use in adding flavours and nutritional value. The nutritional value of tamarind is driving up demand for extract in the markets. The rising populace aids in the demand for food and medical usage of tamarind extracts in the form of oil, powder, and pulp.

The shift in consumer preferences drives the demand for more natural preservatives over chemicals like lactic acid and benzoic acid and has favoured the demand for tamarind extract. Due to their application in health improvement, the cosmetic and personal care sector is also a major driver of demand for tamarind products.

The tamarind extracts are a rich source of vitamin C needed for the skin and effectively reduce cancer. These medical properties and lesser scope for side effects make tamarind extract a preferable ingredient by vendors in the food, beverage, medical, and cosmetic industries. Tamarind extract is also used as a natural preservative for its antimicrobial, antiseptic, and antifungal properties. Positive food & beverage market outlook driving demand for tamarind extract products.

Global demand for confectionery is attributed to creating of an emerging market for flavoured toffies and drinks where tamarind extracts are demanded. Another factor that boosts the market growth is the easy availability of the extract compared to the natural product. The demand for the extracted product will increase with the busy lifestyle of people as the 3.3 billion population is working. It bestows an easy alternative to working with the extract.

Factors that Hinder Growth of the Tamarind Extracts Market

Rising government control measures and levied service charges negatively impact the sales of tamarind products. This effect the economics of scale of vendors. Vendors face difficulties in arranging supplies owing to rising deforestation and urbanization.

Tamarind extraction involves seed processing, pulp extraction, and juice concentrates which require a large labour force and infrastructure. The preservation and supply chain are major decisive factors for vendors to gain a competitive edge in the markets.

The covid-19 pandemic has impacted the food industry in terms of disruption of supply demand. The production was hampered due to the lockdown situation and countermeasures by the government to prevent the spread of the virus. This has affected sales of tamarind extract drastically for a temporary duration. However, due to the rich content of vitamin C, this tamarind extract later noticed great demand.

Vitamin C is seen as effective in recovery from Covid-19, which has led to a surge in tamarind dynamically, resulting in a production demand gap. Manufacturers were facing difficulties in bulk production owing to stimulated demand.

Breakthroughs for Tamarind Extract Manufacturers

Due to the Multifunctionality of tamarind, manufacturers will likely gain exposure to new products in the forecast duration. The tamarind extract is used in syrups, tablets, health drinks, and energy supplements, opening opportunities for product differentiation by vendors.

The greater infrastructure and strong supply network are anticipated to be crucial factors for manufacturers to gain a competitive edge. An expansion in product application is likely to fetch greater returns for manufacturers in the forecast duration.

Segment wise analysis

Pulp Brings the Most Revenue to the Producers

Based on form, tamarind extract is divided into oil, powder, and pulp. The pulp is largely used as a souring agent in curries, drinks, and sauces, which dominates the demand for pulp in tamarind extract products. The tamarind contains about 55% pulp, 11% of shells, and 34% of seeds.

Out of these, seeds and pulp are used further in food and medicinal usage. The shells are used for oil and bioethanol creation. The powder form of tamarind records the second-highest sales due to being limited to medical usage. Pulp processing is anticipated to see a rise in the forecast duration.

Based on end users, the food sector usage of tamarind extract dominates over the beverage sector owing to the high volume of tamarind required in food. Even a small amount of tamarind extract is enough to give flavour to a beverage. However, rising beverage consumption is expected to give high growth stats for the drinks segment in the tamarind extract market.

Regional Insights

Asia Pacific Remains the Largest Tamarind Extract Market

The market is centered in the Asia Pacific region due to the large land under forest and wild tamarind. The region is also highlighted for the daily use of tamarind in diets and medicinal properties. The rising inclination towards organic and plant-based food and cosmetics in this region is anticipated to make it the largest market for tamarind extract in the forecast duration. Indonesia and India are emerging largest countries for tamarind extract production owing to

North American regions are expected to become a healthy market for tamarind extracts from drinks like tamarindo. Flavoured beverages are being preferred by people in this region, attributed to the rise in sales of tamarind extracts. The rising immunity and nutrition deficiencies in these countries are driving demand for herbal medicines based on natural extracts projecting demand for tamarind pulp and powder for medical usage.

Competitive landscape

Fierce Competition in the Tamarind Extract Market

Companies in the food processing industry are facing heavy competition with rising market players. However, hygiene, product quality, and taste are key parameters that successfully differentiate between leading and lacking manufacturers. Tamarind extract manufacturers in the market are experimenting with forms and blends with other materials in order to expand their product portfolio and flavors. Branding and strategic promotion also play a crucial role in market dominance by some companies. Companies giving information about ingredients and pack contents are likely to gain customer loyalty as customers are now looking for chemical-free natural compounds.

• Baaeco foods company is dominating sales of tamarind extract in many forms such as paste, concentrate, and blocks of tamarind. The company is maintaining transparency with printing results for tests carried out on the tamarind products on the packs.

Key Segments

• By Form :

  • Powered
  • Paste

• By End Use :

  • Food
    • Seasoning
    • Sauces & Condiments
    • Preservatives
    • Confectionaries
  • Beverages
    • Whiskey
    • Wine
    • Juice Blends
    • Vodka
  • Cosmetics & Personal Care Products
    • Skin Care
    • Hair Care
  • Pharmaceuticals
  • Households

• By Distribution Channel :

  • Direct
  • Indirect
    • Food & Drink Specialty Stores
    • Specialty stores
    • Supermarket/Hypermarket
    • Independent Small Groceries
    • E-commerce

• By Region :

  • North America
    • US & Canada
  • Latin America
    • Brazil, Mexico, Others
  • Western Europe
    • EU5
    • Nordics
    • Benelux
  • Eastern Europe
  • Asia Pacific excluding Japan
    • Australia and New Zealand (ANZ)
    • Greater China
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Japan
  • Middle East and Africa
    • GCC Countries
    • Other Middle East
    • North Africa
    • South Africa
    • Other Africa