Baobab Market Global Research Report by Species (Adansonia Digitata, Kilima, Grandidieri, Madagascariensis), Form (powder, Oil, Fruit Pulp), Application (Functional Food, Beverages, Sauces & Seasonings, Nutraceuticals, Cosmetics) and Region - Forecast till 2023
Pune, India -- (SBWIRE) -- 09/07/2018 -- Market Overview:
Due to health benefits associated to baobab fruit, the market is growing at a substantial pace of development on the global stage.
Baobab fruit is found in the regions of Africa, Arabia, and Australia. It can be sourced from any of nine species of tree in the genus Adansonia. However, majority of the species are native to Madagascar in African region. The fruit is often referred as "superfruit" as it has high nutrients density. It is a considered to be rich source of antioxidants, vitamins, specifically vitamin C, potassium, calcium, magnesium, fiber, and protein. The product has medicinal properties such as it acts as antimicrobial, anti-malarial, antiviral, anti-oxidant, and anti-inflammatory. It can also aid in the treatment of diarrhea, anemia, and asthma. Therefore, the numerous health benefits associated with baobab has spiked the demand for the product, across the globe.
The demand for baobab oil has increased in cosmetic industry as it is considered to be rich in omega 3, 6, and 9 fatty acids and vitamins. The usage of product in cosmetics helps in reducing wrinkles and for maintaining healthy skin. In addition, baobab pulp is used in smoothies, and in frozen desserts such as ice creams as well as for preparing sauces. It is also used as flavor enhancer, viscosity and texture modifier. Furthermore, baobab powder is increasingly used in dietary supplements as it aid in weight loss as well as act detoxifier. Furthermore, due to increasing inclination of consumers towards natural and organic products, demand for organic baobab product is expected to experience a surge during the forecast period, thereby providing growth opportunity for the key manufacturers.
Latest Industry Updates:
Jan 2018: Yeo Valley, a U.K. based company, launched a yogurt made with baobab fruit. The product has been combined with vanilla which he. The company partnered with the Organic Herb Trading Company to source the fruit from Zimbabwe.
Nov 2018: Nature's Power Nutraceuticals Corporation, a U.S. based company launched organic baobab powder which has a pleasant taste. The product is also rich in vitamin C, potassium, calcium, fiber, pectin, polyphenols, and magnesium.
May 2016: Baobob Foods Inc., U.S. based company launched baobab chew in European market. The product is considered to be a substitute to dried fruit ingredients and is rich source of nutrients.
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Top Key Analysis:
The key manufacturers have been active with research and development to introduce product in novel forms, so that they can be used by several industries as an ingredient. For instance, manufacturers targeting food manufacturers and private label brands introduced fruit in chewy forms which can easily added into wide range of food products such as cereals and granolas, nutrition bars, ice creams, and baking products, among others. Furthermore, increasing awareness about the product benefits in emerging economies provides expansion opportunities to the key players. Focusing on untapped market coupled with innovation would help key manufactures in increasing market penetration and profit margin.
The key players profiled in Baobab market report are Afriplex (PTY) Ltd. (South Africa), Mighty Baobab Limited (U.K.), BaobabCompany Senegal (Italy), Eco products (South Africa), B'Ayoba (Zimbabwe), Organic Africa (Zimbabwe), and Baobab Foods (U.S.) among many others.
The global Baobabmarket has been divided into species, form, application, and region.
On The Basis Of Species: Adansonia Digitata, Kilima, Grandidieri, Madagascariensis
On The Basis Of Form: Powder, Oil, Fruit Pulp
On The Basis Of Application: Functional Food, Beverages, Sauces & Seasonings, Nutraceuticals, Cosmetics
On the Basis Of Region: North America, Europe, Asia Pacific, and ROW.
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The global baobab market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America is the dominating region in baobab market and is closely followed by Europe. The Western Europe countries including France, the U.K., Belgium and the Netherlands contribute majorly to the growth of the baobab market in European region. Asia Pacific is expected to witness a stable growth during the forecast period due to growing awareness in the region. Africa and Australia are leading the market due to high cultivation as well as consumption of baobab in these regions.