The growing worldwide interest in natural, functional ingredients in the health and wellness products market is boosting the demand for baobab fruit powders. Baobab trees, mostly found in tropical parts of Africa, are increasingly being used to source ingredients to manufacture health supplements and nutritional powders. The soaring popularity of baobab powders world over is attributed to vast number of medicinal benefits the fruits have, notably high vitamin C and antioxidants, high degree of soluble and insoluble fibers, and electrolyte and mineral contents. Consumers preferring natural as well as healthy ingredients for food are increasingly demanding these powders for strengthening the immunity system, improving digestion by liver detoxification, reducing anxiety, and prolonging aging.
The growing popularity of baobab powder as prebiotics among healthy populations is fueled by the significantly beneficial effect on gut health. The substantially rising use of baobab powder in supplements, capsules, and food and beverages is providing potential impetus to the market in various regions. Teeming with opportunities worldwide, according to Future Market Insights, the global market is projected to reach a valuation of US$ 10,004 Mn by the end of 2027. The market is predicted to register a CAGR of 6.2% from 2017 to 2027.
Demand for Baobab Powders Gaining Substantial Pace as Beverages Ingredients
The major end-use industries for baobab market are industrial and retail, where the former can be divided into food, beverages, nutraceuticals, and cosmetics. The rapid and substantial strides taken by the functional beverages markets has provided a robust fillip to the demand for baobab powders and supplements, especially in developing and developed regions. Baobab powders are expected to witness substantial lucrative prospects in the beverage industry. The demand for these powders is gathering steam in the beverages industry, on account of the extensive demand for nutritional drinks among populations of all age.
Several nutritional ingredient suppliers have focused consolidating their supply chains and bolstering their research and development pipelines in recent years. Baobab Foods, a prominent supplier of baobab powders under the brand Baobest, announced in July, 2017 that it has earned exclusive rights of distributing of the powders in the U.K. The company focused on capitalizing on emerging opportunities in several developed regions, notably Europe and North America, by launching organic and sustainable solutions in the market. Sourced naturally and using advanced, sustainable forestry techniques, baobab powders to be sold by the company will meet a variety of needs of U.K. consumers in the health and wellness segment.
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North America and MEA to Provide Lucrative Avenues
Regionally, North America and the Middle East and Africa are predicted to emerge as highly lucrative markets for baobab powders. According to FMI, North America is projected to account for the dominant share of 28.4% by 2017 end. The substantially rising demand for baobab powder in various advanced countries of this region is attributed to the soaring demand for constant product innovations in the functional beverages segment.
Recent technological advances in the area of functional and health-enhancing beverages has led to the advent of innovative formulations with better bio-absorbility, thereby adding value to beverages launched by prominent beverage manufacturers and retailers in these regions. The soaring popularity of health and energy juices is stoking the demand for baobab powders. Growing number of innovative use of baobab fruit powders in various food products is a key trend anticipated to accentuate the growth of these regional markets.