Impact of COVID-19 on the Global Moringa Products Market
COVID-19 has been declared as a worldwide epidemic by the World Health Organization (WHO). This disease has a variable impact in different countries, depending on their cultural norms, mitigation efforts, and health infrastructure, and each country is working its way out to fight against the pandemic. However, various research studies are stating the use of medicinal plant extracts against novel coronavirus. Thus, with the increasing health concerns among the consumers, the demand for moringa products is expected to increase post-COVID-19. Moringa is a multi-purpose herbal plant that used as human food and as an alternative for medicinal purposes. Moringa has 19 amino acids, including nine essential amino acids that support body functions. Moringa products such as powders, oils, capsules, pills, soaps, and seeds are obtained from different parts of the moringa tree. These products have various end-use applications in functional food & beverages, pharmaceuticals & nutraceuticals, and personal care products, among others.
Amid the COVID-19 pandemic, consumers are focused on keeping a check on their health, which is expected to increase the sales of dietary supplements across the globe. Moreover, consumer shift to plant-derived supplements is influencing the growth of moringa products. In the current scenario, it has become important to boost immunity to fight the novel coronavirus, along with maintaining hygiene and following all medical advisories that have been laid down. Even the guidelines provided by WHO (World Health Organization) in their COVID-19 analysis, they suggest the world population to consume immunity-boosting foods. Thus, the demand for moringa products carrying properties of boosting human immunity is at the surge across the globe.
However, the worldwide lockdown has also affected the farming practices, which has highly impacted the supply of raw materials, hampering the production of moringa products. Additionally, with countries across the world, locking down their borders, there have been minimum export-import movements, which have highly impacted the supply chain of moringa products. Countries across the globe majorly import moringa from India and Africa. However, with trade barriers, the supply of raw materials to the moringa products manufacturers is highly hampered. Moreover, the COVID-19 impact on logistics also contributes to the increased prices of raw materials, which increases the cost of moringa products manufacturers. Thus, the increased raw material prices followed by high demand for moringa products would lead to an increased price of moringa products for the next few years.
Table of Content