Market Overview:
The global Baobab market is expected to reach USD 5.21 billion by 2028, up from an anticipated USD 3.18 billion in 2022, with a CAGR of 8.6%.
Adansonia is a genus comprising eight species of baobabs, which are medium to big deciduous trees. They belong to the Malvaceae family, specifically the Bombacoideae subfamily. Madagascar, mainland Africa, Southwest Asia, and Australia are their native habitats. Trees have also been introduced to other parts of the world, including Asia. The fruit of the baobab tree is edible, and the seed powder of the baobab tree is used in meals for its nutrients, potential health advantages, and as a natural preservative. Vitamin C, potassium, carbs, and phosphorus are all abundant in this fruit. The fruit is located inside hard pods that hang from the tree upside down. It has a citrus taste to it. “Wild-harvested” baobab It is harvested from its natural habitat and allowed to dry naturally. The seeds are taken out and processed into a powder that can be used in food.
The demand for baobab fruit has increased as customer preferences for healthy meals have shifted. The popularity of African fruit is growing due to its high nutritional and antioxidant content, earning it the moniker “superfood.” Furthermore, due to its nutritional benefits, the baobab fruit powder, which originated in Africa, is becoming increasingly popular in both local and worldwide markets due to its high amount of vitamin C, protein, vitamins, minerals, and antioxidants.
Market Dynamics and Factors:
For its health benefits and rising demand for organic personal care products, the baobab market in cosmetics and personal care has seen tremendous expansion in recent years. Baobab-based cosmetics contain nutritional components that aid in dermis protection and skin calming. It helps to restore hair and skin smoothness while also protecting against inflammatory reactions. It can be used for after-sun skincare, skin moisturization, anti-aging skincare, and hair restructuring. In the projected term, rising demand for organic cosmetics and personal care products will boost the market growth.
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Baobab Market Report Highlight:
- During the projected period, the powder form category is expected to have the maximum market share. The dry baobab fruit pulp is used to make baobab powder, which is helpful for skin, hair, and metabolism.
- According to the source, the organic segment is predicted to expand the most during the forecast year. In the forecast term, rising demand for organic cosmetics and personal care products will boost the market growth.
- The baobab market is divided into several species, including Adansonia Digitata, Kilima, Grandidieri, Madagascariensis, and others. The Digitata is the most widely available source of baobab, which grows in Yemen, Oman, and Ghana, among other places in Africa and the Middle East.
- During the forecast period, the food and beverage segment is expected to dominate market share by application. Over the forecast period, the market for food and beverage is expected to rise at a faster CAGR.
- During the projection period, the internet distribution channel is expected to dominate the market.
- Due to the obvious growing need for supplements and components with high nutrient content and antioxidant capabilities, Europe is an interesting market for baobab. The growing number of customers interested in functional foods and drinks is driving market expansion in the region.
Major Key Players for Baobab Market:
- Soaring Free Superfoods
- Ecuadorian Rainforest LLC
- Mighty Baobab Limited
- ADUNA Ltd.
- Organic Africa
- ALAFFIA
- Atacora Essential Inc.
- Baobab Foods Inc.
- Organic Herb Trading Company
- Afriplex (PTY)
- Superfruit Scandinavia AB
- Baobab Fruit Company Senegal
- B’Ayoba (Pvt) Ltd.
- EcoProducts
- Farafena
- Holland & Barrett Retail Ltd.
- Soaring Free Superfoods
- Indigo Herbs Ltd.
- Kiki Ltd.
- Organic Burst UK Ltd.
- Powbab Inc.
- Stern Ingredients Inc.
- Z Natural Foods LLC.
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Key Industry Development:
- In January 2021, Yeo Valley, a British firm, launched a baobab fruit yogurt. Vanilla has been included in the product. The fruit was sourced from Zimbabwe in collaboration with the Organic Herb Trading Company.
- B’Ayoba, in collaboration with Eco-Products, introduced baobab paste and red Baobab tea in 2020, which quickly gained traction in the market.
Baobab Market Segmentation:
By Type
- Bio-based
- Petrochemical based
By Raw Material
- Polyesters
- Bio- Polyethylene
- Polylactic Acid
- Bio- Polyamide
- Bio- Polyethene Terephthalate
- Polyhydroxyalkanoates
- Starch Blends
- Others
For this report, Introspective Market Research has segmented the Baobab Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Turkey
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Vietnam
- Thailand
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Iran
- Rest of MEA
- Latin America
- Brazil
- Argentina
- Rest of LATAM
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Scope of the Report:
The report encompasses the entire analysis of market size in previous years for major segments and countries, as well as future estimates. The Baobab Market study looks deeply into the worldwide market’s competitive landscape. The study also provides the names of key market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics and factors, and market analysis techniques such as PESTEL analysis, PORTER’s Five Forces analysis, value chain analysis, SWOT analysis, BCG matrix, and Ansoff matrix.
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