Baobab Ingredient Market growth is driven by increasing consumption of nutritious food owing to associated health benefits.
Global Market Insights, Inc. has launched a report on Baobab Ingredient Market that elucidates an in-depth synopsis of this business vertical over the forecast period.
The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.
Rising demand for the product due to its unique flavor, fine texture in confectioneries, nutritional benefits and its flexibility to be utilized in several products including dairy, beverage, functional foods and bakery would further fuel global demand.
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Global baobab ingredient industry from oil is likely to witness strong gains at over 3.5% during projected timeline due to its authentic handmade manufacturing process which keep vitamins and essential minerals intact.
Increasing consumption of healthy and organic food & beverage products with rising awareness of health benefits from baobab ingredient would propel market growth.
Rising disposable income and higher purchasing power ascribe to be a major growth factor for baobab ingredient industry. It is extensively utilized for making smoothies, juices and consumed in form of ice-creams, cookies and jams thus driving product demand.
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High prices of ingredient in comparison to other products with high antioxidants and vitamin C along with less consumer awareness towards product might hamper baobab ingredient industry growth. High production cost due to massive transportation cost with labor-intensive industry is another restraining factor.
Global conventional baobab powder industry size is set to exceed USD 2 billion by 2024. This growth in demand be attributed to good functionality of ingredient and its utilization in niche product applications along with high pricing.
It is considered of the finest quality due to its premium texture and taste.
Global baobab ingredient demand from beverage applications may exceed demand at over 35 kilo tons by 2024. Beverage intake ensures the high consumption of antioxidants and nutrient rich components compared to other ways of intake.
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Europe baobab ingredient industry driven by Germany, UK and France may register strong gains over 4% during projected timeline due to its increasing consumer awareness for health benefits associated with product.
Global baobab ingredient industry share is competitive and moderately fragmented with key players including Afriplex, Mighty Baobab Limited, Aduna Limited, and B'Ayoba (Pvt) Ltd. Other market participants include Atacora, Woodland Foods, Halka B Organics and Indigo Herbs Limited.
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