pune, India -- (SBWIRE) -- 05/21/2018 -- Market Overview:
Baobab Market is projected to grow at a CAGR of 5.3% over the forecast period. Baobab is a fruit, which can be sourced from any one of nine species of Adansonia tree majorly found in Africa, Australia, Arabia, and Madagascar. Baobab fruit is a wholesome nutrient fruit that has different uses as per its form. It is gaining popularity in various industries such as functional foods, beverages, sauces & seasonings, nutraceuticals, cosmetics, and others. They are a great source of fiber, vitamin C, potassium, amino acids, and other minerals. Moreover, it has a natural shelf-life of 3 years, thus, no additives or preservatives are added while its usage.

Europe is expected to have a substantial growth over the forecast period 2017-2023. In Europe, the western countries including France, the U.K., Belgium, and the Netherlands are projected to be the major contributors to baobab market. Growing awareness related to nutritional value is driving the market growth among the health-conscious population.

Inclination towards functional foods among the consumers is boosting the growth of the baobab market. Additionally, increasing application of baobab fruit pulp in smoothies is supporting the growth of the baobab market in Europe. All these factors are likely to lead the growth of the European market at a CAGR of 5.9% during the forecast period 2017-2023.

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Major Key Players:
This report includes a study of strategies such as mergers, acquisitions, and product launches by the major baobab players. It further includes product portfolios, developments of leading players, which includes

- Organic Africa (Zimbabwe)
- Baobab Foods (U.S.)
- Afriplex (PTY) Ltd. (South Africa)
- Mighty Baobab Limited (U.K.)
- B'Ayoba (Zimbabwe)
- Eco products (South Africa) and
- Baobab Fruit Company Senegal (Italy)

Key Findings:
Major importers of baobab fruit powder are Germany, France, and The Netherlands.

Baobab fruit pulp is gaining popularity in Europe as an additive in smoothies.

Segments:
Baobab market is segmented on the basis of species such as Adansonia Digitata, Kilima, Grandidieri, Madagascariensis, and others. Among all, Digitata  is the most commonly available source for baobab, which grows in various parts of Africa and the Middle East including Yemen, Oman, and Ghana.

On the basis of the form, the baobab market is segmented into oil, powder, fruit pulp, and others. Among all, the baobab oil is dominating the market and is expected to grow at the fastest rate over the forecast period. Moreover, the baobab powder is the second largest segment of the baobab market.

Based on the application, the market is segmented into a functional food, beverages, sauces & seasonings, nutraceuticals, cosmetics, and others. The cosmetics segment is dominating the market based on the high application of the baobab oil as a skin and hair moisturizer. However, functional foods segment is projected to grow substantially over the forecasted period based on increasing awareness towards the nutritional value associated with baobab.

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The global baobab market is segmented under the following regions,

North America
- U.S.
- Canada
- Mexico

Europe
- Germany
- France
- Italy
- Spain
- U.K.
- Rest of Europe

Asia Pacific
- China
- India
- Australia
- Japan
- Rest of Asia Pacific

Rest of the world
- Brazil
- Argentina
- South Africa
- Others