The global market baobab powder is anticipated to witness robust growth during the assessment period. In a new report titled ‘Baobab Powder Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017–2027),’ Future Market Insights studies the factors driving the popularity and adoption of baobab powder across the globe. Consumers today are becoming aware about the benefits of baobab powder, which in turn is surging the demand for baobab powder based products such as cereals and bars. Due to the fact that baobab powder has numerous skin benefits, it is used as an ingredient in various anti-ageing creams and helps protect the skin against high or low temperatures, rejuvenates the skin cells, moisturizes the skin and prevents damage from free radicals. Also, as baobab powder is a rich source of calcium and potassium, it is also found in products such as cereals, bars and jellies. Owing to its wide ranging beneficial properties, the consumption of baobab powder is growing across the globe.
Segmental forecast of the global baobab powder market
The global baobab powder is segmented on the basis of product type (organic baobab powder, conventional baobab powder), end use (industrial, retail), sales channel (direct sales, indirect sales) and region.
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Forecast by Product Type: Organic baobab powder segment is expected to register the highest CAGR during the forecast period. The organic baobab powder segment is estimated to be valued at US$ 8,544.2 Mn by 2027 end and is expected to expand at a CAGR of 6.5% over the forecast period.
Forecast by End Use: The retail segment is estimated to account for the highest value share of 65.2% in 2017 and is projected to reach a market valuation of US$ 6,545.1 Mn by 2027 end, registering a CAGR of 6.3% over the forecast period.
Forecast by Sales Channel: The indirect segment is estimated to account for the highest value share of 75.4% in 2017. This segment is estimated to be valued at US$ 7,602.1 Mn by 2027 end and is expected to expand at a CAGR of 6.3% over the forecast period.
Forecast by Region: North America followed by Western Europe will be the leading markets in the global baobab powder market with an anticipated value share of about 30% and 25% respectively by the end of 2027. North America will witness the highest regional CAGR of 6.8% during the forecast period.
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Global Baobab Powder Market Forecast 2017-2027
Future Market Insights predicts the global baobab market to be valued at about US$ 5,483 Mn by the end of 2017 and will continue to grow at a CAGR of 6.2% during the period of study to reach a market valuation of about US$ 10,004 Mn by the end of the forecast period.
The report profiles some of the top companies operating in the global baobab powder market including EcoProducts, Baobab Fruit Company Senegal, B’Ayoba (Pvt) Ltd, Organic Africa, Aduna Limited, Etude House, Woodland Foods, Powbab Inc, ATACORA, Halka B. Organics, Indigo Herbs LTD and Organic Burst UK Ltd. Companies are focussing on addressing customer centric product demand by expanding their product portfolio and introducing a variety of products in the global market. Suppliers are entering into long-term contracts with baobab products manufacturers to avoid increase in product prices, and baobab manufacturers are also benefitting from these long-term contracts with suppliers as it helps them sustain their operations.