Baobab Market Overview
The Baobab Market will hit USD 6.208 billion by the end of the year 2032 and will develop at a substantial compound annual growth rate of a CAGR of 12.80 % during the forecast timeframe, which runs from 2023 to 2032.
The baobab market in cosmetics and personal care has seen significant expansion in recent years due to the plant's health-promoting characteristics and the growing desire for natural and organic products. The nutritional components in baobab-based cosmeceutical aid in the healing of the dermis and the calming of the skin. Additionally, it helps to restore softness to skin and hair while also providing protection from inflammation phenomena. Using it on the skin after sun exposure will help keep it moisturized, and anti-aging moisturizers and hair reformation are also possible. The increasing consumption of plant-based cosmetics and personal care products is expected to propel the market's expansion during the projected timeframe.
The COVID-19 outbreak had a considerable influence on the global and regional Baobab market as well as on the markets in individual countries. Because of the sluggish pace of economic restoration, supply disruptions pose significant difficulties, and consumer preferences remain weak, the economy is expected to grow at a low rate. There are three forecast possibilities for the worldwide Baobab size of the market for the years 2021 and 2022, which are included in the study.
Key players are.
Some of the baobab key market players are 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).
Market Segmentation
The baobab market has been categorized by kind, shape, application, and geography. The worldwide market has been divided into organic and non-organic categories. The worldwide market is divided into powder, oil, and pulp in terms of form. Food beverage, personal care, nutraceuticals, and others are some of the subcategories in the worldwide market.
The natural and organic personal care marketplace for baobab has grown significantly in the past few years, primarily due to its health-beneficial characteristics and the growing desire for organic goods. The nutritional components in baobab-based cosmetics aid in the preservation of the dermis and the calming of the skin. It aids in the restoration of skin and hair suppleness and thus provides anti-inflammatory protection.
Regional Classification
Europe is estimated to lead the industry for baobab throughout the forecast period due to the rising number of buyers toward healthy food and drinks, which is boosting the development of the baobab market in this area. North America also has a substantial position in the international baobab market expected to drive the growth for healthy and natural components among some of the food makers is also boosting the baobab market development in the region. Another factor contributing to the growth of the baobab marketplace in the area is the increasing use of this fruit in nutraceutical products and the food sector for its flavor and texture, which is particularly prevalent in the Asia Pacific region.
Industry News
Through its Aquarius Vive brand, Coca-Cola introduced a soft drink flavored with baobab extracts in June 2016. Also, the need for baobab extraction is noted to be expanding in the personal care sector, which would substantially contribute to the expansion of the market.
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