Baobab Powder Market: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017-2027)
London, UK -- (SBWIRE) -- 10/06/2017 -- Revenue from the global baobab powder market is estimated to be valued at about US$ 5,483 Mn in 2017. By 2027 end, global baobab powder market is expected to reach a value of around US$ 10,004 Mn registering a CAGR of 6.2% over the forecast period (2017–2027). In terms of volume, the global baobab powder market is estimated to be pegged at 96,444 tonnes by 2017 end, and is expected to reach 125,618 tonnes by 2027 end, exhibiting a CAGR of 2.7%.
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Baobab powder is gaining traction in the beverage industry
The functional beverage industry continues to grow annually throughout the forecast period. Further it is expected that the sports, nutritional and energy juice sales will increase at an accelerated rate during the assessment period. With an increased focus on health and wellness, beverage ingredients play a vital role and baobab powder beverages are gaining traction in the market as consumers are preferring nutritional drinks, which are rich in nutrition value without added sugars or other artificial ingredients. Further, there's a lot of innovation in the healthy beverage space with new product launches focused on functional and value added drinks. In 2016, Coca-Cola Iberia launched a new soft drink under its Aquarius drinks brand named Vive, which counts baobab extract in its ingredients. Aquarius Vive, which is a low calorie beverage has gained volume growth of 8.5 percent. Pepsi also launched Pepsi baobab drink, under the range that includes Pepsi cucumber in 2010.
Natural health benefits of baobab powder
Demand for baobab powder is increasing and baobab tree is known as the 'tree of life', which consists of high amount of vitamin C found in the baobab fruit. Baobab powder provides vital fibre, antioxidants and important minerals and helps in boosting energy levels, improves immunity, aids in liver detoxification, cleansing and detoxifying, reduces anxiety, strengthens the immune system, and also exhibits anti-aging properties. Sales of baobab powder have increased over the last few years due to its positive application in supplement and food/beverages categories, which include cold cereals, and more recently, as a functional ingredient in bars. Baobab powder is rich in dietary fibre and improves the immune system.
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Large number of substitute products may hamper revenue growth of the baobab powder market
The baobab fruit is relatively low in protein, when compared with other dehydrated fruits, but baobab dried fruit pulp contains all essential and non-essential amino acids. Compared to other dehydrated fruits, baobab contains slightly higher amounts of cystine and serine, although the amino acid composition of all fruits does not differ significantly. Baobab dried fruit pulp would therefore be ideal as an ingredient for adding fibre to foods, as well as raising the overall nutritional profile. However, due to the large number of substitute products available in the market presently, the market for baobab powder may get hindered during the assessment period.
Global Baobab Powder Market Attractiveness Index, by Region
Among all the regions, the markets in North America and Middle East and Africa are expected to register high CAGRs of 3.1% and 2.9% respectively in terms of volume during the forecast period. The market in Western Europe has been estimated to account for a value share of 25.1% by 2017 end. The market in North America is estimated to account for the highest value share of 28.4% in 2017. Baobab powder market in the region is expected to gain significant market share by 2027 end. The baobab powder market in Western Europe is expected to register a CAGR of 6.3% in terms of value, and a CAGR of 2.6% in terms of volume over the forecast period.
Growing popularity of baobab supplements
With an exotic, tangy flavour described as a cross between grapefruit, pear and vanilla, the baobab fruit has been used for years in Africa. Changing consumer preferences, tastes and eating and purchasing habits, as well other factors affecting the industry including new market entrants and demographic changes may have a bearing on the global baobab powder market. Baobab powder has grown in popularity and is widely used in supplements, capsules and food products with many claiming it to be the latest super food.