The BAOBAB Market is expected to reach USD 3,750 million by 2027, growing at a CAGR of 9.4% over the forecast period (2020-2027).

The factors driving growth of the BAOBAB Market includes growing demand for immune boosting supplements, rising awareness about the health benefits offered by BAOBAB products, increasing consumers inclination towards adopting healthy lifestyles and improvements in the living standards. Moreover, growing consumption of carbonated drinks and sodas amongst millennials, rise in the launch of innovative products, increasing application of baobab oil in personal care products and rapid urbanization, are some of the additional factors supplementing the Baobab Market size. In addition, the increasing investments by major companies on research and development, strategic mergers, and collaborations between companies, growing disposable incomes and rising population growth rates, are further contributing towards the market growth.

However, growth of the BAOBAB Market is hindered attributed to its high cost.

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

Based on Form, the Powder segment is predicted to grow at a significant CAGR during the forecast period

Increasing use of baobab powder in nutraceutical products owing to tis high vitamin content, is propelling segment’s growth.

Based on Application, the Food and Beverage segment is projected to expand at a robust CAGR over the forecast period

Baobab is increasingly used in food and beverage industry because it minimizes the risks of chronic diseases, is pushing growth of the segment.

Based on Region, the Europe region is projected to grow at a fastest CAGR during the forecast period

As per the Baobab Market Trends, growing demand for organic and natural products across United Kingdom, France, and Germany, rise in the launch of innovative products, rapid urbanization, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in Europe.

Key Development

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

Market Segmentation

Segmentation by Form

• Oil

• Powder

• Pulp

Segmentation by Application

• Food and Beverage

• Nutraceuticals

• Personal Care

• Others

Segmentation by Region

• Asia Pacific

  • China

  • Japan

  • India

  • Rest of APAC

• North America

  • United States of America

  • Canada

• Europe

  • United Kingdom

  • Germany

  • France

  • Spain

  • Rest of Europe

• RoW

  • Brazil

  • South Africa

  • Saudi Arabia

  • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/