Baobab Market size is projected to reach USD 5.22 Billion by 2028 from an estimated USD 2.93 Billion in 2021, growing at a CAGR of 8.6% globally.
Baobab
is a tree that is characterized by its massive size and swollen trunk. Its
production is scattered across Africa and is gaining popularity across the
globe, owing to its nutritional and medicinal properties. Baobab is packed with
a high amount of protein, carbohydrates, energy, and fiber, as well as
essential vitamins and minerals.
Baobab extract such as oil, powder,
and pulp are rapidly gaining acceptance in industries such as food &
beverages, nutraceuticals, and personal care, among others. Manufacturers in
the beverage industry are highly inclined towards introducing baobab in their
product range owing to the growing demand for healthy and functional beverages.
For instance, in June 2016, Coca-Cola, through its brand Aquarius Vive launched
a soft drink infused with baobab extract. Also, the demand for baobab extracts
is witnessed to be rising in the personal care industry, which will
significantly contribute to the growth of the market.
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The Major
Players in the Baobab Market Include:
·
Soaring Free Superfoods
·
Ecuadorian Rainforest LLC
·
https://woodlandfoods.com/Woodland
Foods
·
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
The Baobab Market is segmented by
type and application. Growth between segments over the period 2022-2028
provides accurate calculations and forecasts of revenue by type and application
in terms of volume and value. This analysis can help you expand your business
by targeting eligible niches.
Market has
segmented the global Baobab market on the basis of type, application, and
region:
By Type:
·
Oil
·
Powder
·
Pulp
·
Others
By
Application:
·
Food
And Beverages
·
Personal
Cares
·
Nutraceuticals
·
Others
By Regional Outlook
(Revenue, USD Billion, 2017 – 2028)
- North America (U.S., Canada,
Mexico)
- Europe (Germany, U.K., France,
Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India,
Japan, Southeast Asia, Rest of APAC)
- Middle East & Africa (GCC
Countries, South Africa, Rest of MEA)
- South America (Brazil,
Argentina, Rest of South America)
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Covid-19
Impact and Recovery Analysis on Industry:
The COVID-19 pandemic has had
devastating effects on several industry verticals globally. To constrain the
number of cases and slow the coronavirus spread, various public health
guidelines were implemented in different countries across the globe. COVID-19
protocols ranging from declaring national emergency states, enforcing
stay-at-home orders, closing nonessential business operations and schools,
banning public gatherings, imposing curfews, distributing digital passes, and
allowing police to restrict citizen movements within a country, as well as
closing international borders. With the growing vaccination rate, governments
are uplifting the protocols to give a boost to the stagnant economy. Like other
industries, Baobab Market have experienced slowdown the growth, however
market is expected bounce back as restrictions are being lifted up by
governments across the globe.
The research provides an up-to-date
analysis of the current market scenario, as well as the current developments
and drivers, and the market landscape. Furthermore, the growing demand for Baobab
is expected to propel the industry forward. The Baobab market analysis is
segmented into type, application, and geographic landscape.
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Report Highlights:
·
Detailed overview of parent market
·
Changing market dynamics of the
industry
·
In-depth market segmentation
·
Historical, current and projected
market size in terms of volume and value
·
Recent industry trends and
developments
·
Competitive landscape
·
Strategies of key players and
product offerings
·
Potential and niche
segments/regions exhibiting promising growth
·
A neutral perspective towards
market performance
· Must-have information for market players to sustain and enhance their market footprint
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