BAOBAB MARKET

GMI Research analysis indicates that the Baobab Market size was estimated at USD 2,393 million in 2022 and is slated to register a single digit CAGR of 9.4% over the forecast period, and is projected to reach USD 4,910 million in 2030

Baobab Market Overview

Baobab fruit is the vital raw material to produce baobab ingredients, but transportation and labour play an important role in the process. Superior plucking procedure, creation process attributes to high market prices of the baobab. The market is experiencing a high demand due to its advantages such as it helps in balancing blood sugar levels and is rich in essential vitamins and minerals.

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Major Baobab Market Drivers

Rising awareness among the consumers related to synthetic ingredients’ harmful effects can be considered the primary growth factor of the market. As a result, natural and organic health product companies are seeking natural ingredients that have functional and active properties for their products. According to “African Baobab Alliance, the exports of baobab reached around 450 tonnes in 2017 and is expected to reach 5000 tonnes by the end of 2025 in Europe, showcasing the high growth potential of the market. The demand for the high nutritional and less preservative and fat free products has replaced beverage demand, including carbonated drinks, soda, etc. in countries like Japan, China, India, Australia, which has pushed the market for these products. Furthermore, rising demand for immune system boosting supplements, is anticipated to persist in the foreseeable future. Following the pandemic of COVID-19, consumers across the globe have started paying attention to personal immunity due to which the demand for the baobab is anticipated to surge in the coming years. In addition, companies like Woodland Foods, B’Ayoba, Mighty Baobab Limited, are involved in offering baobab products in the market like fruit powders which has helped in the growth of the market.

Restraint in the Baobab Market

High price tag associated with the baobab is the factor that is likely to hamper the growth of the market.

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Form – Segment Analysis

Based on the form, powder is expected to grow at a higher CAGR in the market over the forecast period. The beverage industry mostly uses powder form for making nutritional and brewing beverages. Therefore, shifting trends across the nations for the adoption of nutritional beverages is another factor that has driven the powder form’s growth.

Application – Segment Analysis

Based on the application, food and beverage is witnessed to grow at a higher CAGR in the market over the forecast period. Rising health benefits from baobab is attracting major stakeholders to incorporate it in baking, confectionery, and flavoring applications. Baobab powder demand is expected to increase as it helps to reduce risks for chronic diseases, leading to the highest adoption rate of the product in the food and beverage industry.

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Regional – Segment Analysis:

Based on the region, Europe is expected to grow at a higher CAGR in the baobab market over the forecast period. Demand for nutritional supplements is increasing in UK; for instance, according to a report published by “Soils Association’”, the British organic market grew by US$ 3.20 billion in 2019 showing the strongest growth in the past 8 years, which has driven the baobab market. Furthermore, according to CBI “Ministry of Foreign Affairs”, Germany has the largest market for organic food in Europe, which further increases the demand for such products.  In addition, companies like Woodland Foods, B’Ayoba, Mighty Baobab Limited, are involved in offering baobab products in the market like fruit powders which has helped in the growth of the market.

Top Market Players

Various notable players operating in the market, include, Baobab Fruit Company, The Healthy Tree Company, Atacora, Woodland Foods, Organic Africa, Halka B Organics, Organic Bursts U.K. Limited, B’Ayoba, Aduna Limited, Mighty Baobab Limited, among others. 

Key Developments:

• • In 2020, B’Ayoba in collaboration with Eco Products has launched baobab paste and red Baobab tea, which has earned its place in the market soon after the launch.

Segments covered in the Report:

The global baobab market has been segmented based on form, application, and regions. Based on form, the market is segmented into oil, powder, and pulp. Based on application, the market is segmented into food and beverage, nutraceuticals, personal care, and others

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Market Segmentation

Global Baobab Market by Form

• • Oil
  • Powder
  • Pulp

Global Baobab Market by Application

• • Food and Beverage
  • Nutraceuticals
  • Personal Care
  • Others

Global Baobab Market by Region

• • North America Baobab Market (Option 1: As a part of the free 25% customization)

    • By Form
    • By Application
    • US Market All-Up
    • Canada Market All-Up

  • Europe Baobab Market (Option 2: As a part of the free 25% customization)

    • By Form
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Baobab Market (Option 3: As a part of the free 25% customization)

    • By Form
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Baobab Market (Option 4: As a part of the free 25% customization)

    • By Form
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market Market All-Up

Major Players Operating in the Baobab Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Baobab Fruit Company
  • The Healthy Tree Company
  • Atacora
  • Woodland Foods
  • Organic Africa
  • Halka B Organics
  • Organic Bursts U.K. Limited
  • B’Ayoba
  • Aduna Limited
  • Mighty Baobab Limited