Global Baobab Market is projected to grow at a CAGR of 6.11% during the forecast period (2020-2025).
- With the changing consumer preferences towards healthy foods, there has been a rise in demand for baobab fruit. African fruit’s popularity is rising owing to the presence of high content of nutrients and antioxidants, giving it the name of “super food”.
- Furthermore, the baobab fruit powder which originated from Africa is getting increasingly popular on both local and global markets due to its nutritional properties as It has high content of vitamin C, protein, vitamins, minerals, and antioxidants.
Key Market Trends
Growing Demand for Organic Personal Care Products
Baobab market from cosmetic & personal care has witnessed a siginficant growth in last couple of years, owing its heath benefical properties and increasing demand for organic personal care products. The baobab based cosmetic products have nutritive compounds which help in dermis protection and soothing of skin. It contributes to restoring smoothness of hair and skin to assure protection against inflammatory phenomenon. It is appropriate for after-sun skin care, moisturizing skin, anti-aging skin care and restructuring hair care. Growing demand for organic cosmetic & personal care products would upsurge the market growth in the forecast period.
North America holds a Significant Market Share in Baobab Market
Europe is expected to dominate the market for baobab during the forecast period, owing to the increasing number of consumers toward functional food and beverages, which is driving the growth of baobab market in the region. North America also holds a significant market share in the global baobab market owing to the increasing demand for natural and healthy ingredients among the food manufacturers is also driving the baobab market growth in the region. Also, owing to its growing application in nutraceutical and food industry for its taste and texture in Asia Pacific region is drving the baobab market in the region.
The global baobab market is fragmented. Some of the major key players in the baobab market, globally includes Afriplex Pty Ltd, Baobab Foods, BFCS – Baobab Fruit Company Senegalm, Henry Lamotte OILS GmbH, among others.
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