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Baobab Market Research Report - Global Forecast till 2030

Baobab Market Research Report: Information by Category (Organic and Conventional), Form (Powder, Oil, and Pulp), Application (Food & Beverages (Beverages, Sweet & Savory Snacks, Dairy & Frozen Desserts, and Others) Personal Care, Nutraceuticals, and Others) and Region (North America, Europe, Asia-Pacific, and the Rest of the World) - Forecast till 2030

ID: MRFR/F-B & N/3482-HCR | December 2022 | Region: Global | 110 Pages         

Baobab Market

The Baobab Market is projected to reach USD 5.30 billion by 2030 and grow at a significant CAGR of 12.8% during the forecast period, from 2022 to 2030.

Segmentation

By Category Organic Conventional
By Form Oil Powder Pulp
By Application Food & Beverages Nutraceuticals Personal Care

Key Players

  • Baobab Foods LLC (US)
  • Afriplex (PTY) Ltd. (South Africa)
  • Mighty Baobab Limited (UK)
  • Eco-Products (South Africa)
  • B'Ayoba (Zimbabwe)
  • Organic Africa (Zimbabwe)
  • Baobab Fruit Company Senegal (Italy)
  • Ojoba Collective (Finland)
  • Mukwati Oils (Pvt) Ltd (Zimbabwe)
  • Baonane SARL (Senegal)

Drivers

  • Growing Demand For Healthy And Functional Beverages
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Baobab Market Outlook:


The Baobab Market is projected to reach USD 5.30 billion by 2030 and grow at a significant CAGR of 12.8% during the forecast period, from 2022 to 2030. 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 2021, 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.


Segmentation


The global baobab market has been segmented based on category, form, application, and region. By category, the global market has been classified as organic and conventional.  Based on form, the global market has been categorized as oil, powder, and pulp.  Based on application, the global market has been divided into food & beverages, nutraceuticals, personal care, and others.


The food & beverage segment is further sub-segmented into beverages, sweet & savory snacks, dairy & frozen desserts, and others. The global market has been studied in four key regions—North America, Europe, Asia-Pacific, and the rest of the world. The North American baobab market has further been segmented into the US, Canada, and Mexico. The European baobab market has been classified as Germany, France, Italy, Spain, the UK, and the rest of Europe. The market in Asia-Pacific has been divided into China, India, Japan, Australia & New Zealand, and the rest of Asia-Pacific. The baobab market in the rest of the world has been segmented into South America, the Middle East, and Africa.


Key Players


Baobab Foods LLC (US), Afriplex (PTY) Ltd. (South Africa), Mighty Baobab Limited (UK), Eco-Products (South Africa), B'Ayoba (Zimbabwe), Organic Africa (Zimbabwe), Baobab Fruit Company Senegal (Italy), Ojoba Collective (Finland), Mukwati Oils (Pvt) Ltd (Zimbabwe), Baonane SARL (Senegal), Savannah Fruits Company (Ghana), PARODI NUTRA S.R.L. (Italy), Henry Lamotte Oils GmbH (Germany), Nexira (France), and Woodland Foods (US) are some of the key players in the global baobab market.  


Europe is expected to dominate the market for baobab during the forecast period. The high inclination of consumers towards functional beverages is majorly driving the growth of the baobab market in this region. North America also holds a significant share in the global baobab market and is expected to register the highest growth rate during the forecast period. Increasing demand for natural and healthy ingredients among the food manufacturers is mainly contributing to the growth of the North American baobab market. Also, growing awareness of the product in Asia-Pacific will contribute to a significant increase in this region. In the rest of the world, Africa is the major producer of baobab and holds a prominent share in the global baobab market owing to its traditional usage of baobab.


Global Market, by Category



  • Organic

  • Conventional


Global Market, by Form



  • Oil

  • Powder

  • Pulp


Global Market, by Application



  • Food & Beverages


    • Beverages

    • Sweet & Savory Snacks

    • Dairy & Frozen Desserts

    • Others




  • Nutraceuticals

  • Personal Care

  • Others


Global Market, by region



  • North America


    • US

    • Canada

    • Mexico




  • Europe


    • Germany

    • France

    • Italy

    • Spain

    • UK

    • Rest of Europe




  • Asia-Pacific


    • Japan

    • China

    • India

    • Australia and New Zealand

    • Rest of Asia-Pacific




  • Rest of the World (RoW)


    • South America

    • Middle East

    • Africa



Intended Audience



  • Baobab processors

  • Beverage industry

  • Snacks manufacturers

  • Dairy industry

  • Personal care industry

  • Pet care industry

  • Nutraceutical industry

  • Dealers and distributors

  • Raw material suppliers and distributors

  • Traders, exporters, and importers


 



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 5.30 Billion
  CAGR   12.8%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Category, Form, Application, and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Baobab Foods LLC (US), Afriplex (PTY) Ltd. (South Africa), Mighty Baobab Limited (UK), Eco-Products (South Africa), B'Ayoba (Zimbabwe), Organic Africa (Zimbabwe), Baobab Fruit Company Senegal (Italy), Ojoba Collective (Finland), Mukwati Oils (Pvt) Ltd (Zimbabwe), Baonane SARL (Senegal), Savannah Fruits Company (Ghana), PARODI NUTRA S.R.L. (Italy), Henry Lamotte Oils GmbH (Germany), Nexira (France), and Woodland Foods (US)
  Key Market Opportunities   Rising in the personal care industry
  Key Market Drivers   Growing Demand For Healthy And Functional Beverages


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Frequently Asked Questions (FAQ) :

Baobab market is projected to grow at a 12.8% CAGR between 2022-2030.

Baobab Foods LLC (US), Afriplex (PTY) Ltd. (South Africa), Mighty Baobab Limited (UK), Eco-Products (South Africa), B'Ayoba (Zimbabwe), Organic Africa (Zimbabwe), Baobab Fruit Company Senegal (Italy), Ojoba Collective (Finland), Mukwati Oils (Pvt) Ltd (Zimbabwe), Baonane SARL (Senegal), Savannah Fruits Company (Ghana), PARODI NUTRA S.R.L. (Italy), Henry Lamotte Oils GmbH (Germany), Nexira (France), and Woodland Foods (US) are some of the top players in the global baobab market.

Baobab market is predicted to touch USD 5.30 billion by 2030.

Baobab is widely used in personal care, food and beverages, and other sectors.

Different forms of baobab include pulp, oil, and powder.

North America is expected to dominate the baobab market.