Baobab Market Share & Trends Analysis, By Form (Oil, Powder, Others), By Application (Food, Beverages, Others), By Source (Organic, Conventional) & By Region Forecast - Global Market Insights 2018 to 2028
Baobab is a tree native to Africa, Australia, and the Middle East. It has been long known in Africa for its multiple health benefits. Baobab provides a rich source of nutrient ranging from vitamins, minerals, and probiotics and is a good source of fiber. But baobab products have been in tremendous demand, particularly from the developed region as of late.
This is attributed to a wide portfolio of baobab products introduced to the European market by Aduna Ltd. Baobab has multiple benefits that span over a wide variety of segments. Rising demand for value-added food products and a preference toward healthy foodstuff is also boosting the demand for baobab in the market.
Baobab extracts highly sought after by cosmetics and nutraceutical manufacturers for its multiple benefits
Baobab oil has been known to be a superior skin moisturizer and revitalizer thanks to its antioxidant-rich nature. Owing to its rich antioxidant content, baobab oil is used in anti-aging cosmetic treatments and personal care products. Increasing consumer preference for organic ingredients has led to a surge in demand for baobab ingredients.
Baobab powder and fruit also is utilized for brewing functional beverages. The naturally sweet and savory flavor profile of baobab has made it fit for consumers from all age groups. Baobab powder is also utilized in nutraceutical products for its high vitamin content. Baobab extracts being gluten-free are appealing to a wider consumer base.
There have been more than 300 traditionally recorded uses of baobab, including the fruit pulp, baobab leaves, powdered seeds etc. the possibilities of new baobab products introduced in the market are plenty. With the rise in internet culture, trends are being picked up all over the globe regardless of the region of origin, this includes a recent trend for natural or naturally derived products as well.
Baobab can revive the energy drinks market and establish a market presence in the process.
Although energy drinks have been introduced in the market a year ago, it is still plagued with a negative health image for the consumers. Baobab already being used in energy drinks by companies like Matahi and in beverages by PepsiCo and The Coca-Cola Company, has the added advantage of the natural ingredient appeal. This characteristic can make way for energy drinks containing baobab to be accepted more widely by the average consumer and establish a market presence.
Baobab Market: Key market players
Some of the key market players in the baobab market are-
- ADUNA Ltd.
- Halka B Organics
- Organic Africa
- Baobab Foods
- Mighty Baobab Limited London
- NP Nutra®
- Organic burst UK Ltd. Etc.
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Opportunities for Participants in the baobab Market:
Since the use of baobab has been popularized only a few years ago, the baobab market is open for new market players. Baobab resourcing is one of the key challenges that the baobab market is facing. Baobab is not a farmed product and hence is relatively scarce. The laborious harvesting process only adds to the challenge. The suppliers are finding it hard to keep up with the demand in the market, so the opportunities for market participants are high for the supply end of the baobab market. Baobab presents a high potential in the energy drinks market as well, with natural ingredients like guarana and guayusa being widely accepted in the market.
This indicates towards a customer tends to be more open towards products with natural ingredients, which makes the future prospects for baobab infused energy drinks brighter. The possibility of more companies adapting to natural ingredients such as baobab ingredients is heightened, improving the prospects for market participants in the baobab market to invest their revenue.
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Regional Segments Analyzed Include
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
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- Potential and niche segments, along with their regional analysis
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Baobab Market: segmentation
- On the basis of Form, the global baobab market has been segmented as:
- On the basis of application, the global baobab market has been segmented as:
- Personal care and cosmetics
- On the basis of source, the global baobab market has been segmented as
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