Baobab Market Growth, Trends, Covid-19 Impact, And Forecasts (2022 - 2028)

2022-06-03 06:19:09 UTC | Others
Baobab Market Growth, Trends, Covid-19 Impact, And Forecasts (2022 - 2028)

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.

The Major Players in the Baobab Market Include:

·         Soaring Free Superfoods

·         Ecuadorian Rainforest LLC

· 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)

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.

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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