New York, Oct. 13, 2022 (GLOBE NEWSWIRE) -- The global moringa ingredients market is set to witness growth at a CAGR of 7.1% and top a growth US$ 13 Bn by 2031.
Moringa ingredients are being increasingly used for food fortification in various regions across the world to tackle micronutrient deficiencies. Several companies also use moringa ingredients in their food items for the purpose of advertisements and marketing through voluntary fortification programs.
Substantial rise in awareness regarding the environmental and health benefits of plant-based products has also driven demand for plant-based cosmetic products. Manufacturers are also focusing on providing innovative cosmetic products that comprise moringa ingredients.
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Increase in consumer discretionary income in regions such as Asia Pacific, the Middle East, and Africa has made it easier for customers to acquire new and unique food products that are sourced from plants such as moringa. These plant-based food products comprise functionally active compounds along with health promoting properties, which attracts health-conscious customers.
Consumption of plant-based products is witnessing high growth as consumers are shifting toward healthy and adulterated-free items. The consumption pattern of consumers is inclining toward healthy and organic food products, which is impacting the food and beverage category, as well as moringa ingredients.
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Key Takeaways from Market Study
- The moringa ingredients market is expected to expand at CAGRs of 5.3% and 6% in Latin America and the Middle East & Africa, respectively, through 2031.
- Market share of South Asia and Oceania is 4.8% and 4%, respectively, in 2021.
- The European moringa ingredients market is currently pegged at 1, 15,971 tons.
- Growing consumer preference for healthy and nutritious food products is driving sales of moringa ingredients across global markets.
- Although by application, the food and beverage industry holds the highest market share, dietary supplements are set to expand at a CAGR of 8%.
- The outbreak of COVID-19 disrupted the supply chain of moringa ingredients, due to which, there was a slowdown in the market. However, the market is expected to witness significant growth with economies providing opportunities and increasing consumer demand for healthy & nutritious food products.
“Manufacturers of moringa ingredients would gain significant profits by targeting the food & beverage industry. The dietary supplements industry would also serve as a potential market for moringa ingredients, which is attributable to growing demand for nutraceutical products across the globe,” says a Persistence Market Research analyst.
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Competitive Landscape
Key manufacturers of moringa ingredients are majorly focusing on research & development to enhance the quality of their products. These manufacturers also participate in various exhibitions and events around the world to increase the awareness of their products.
- Farmvilla Food Industries installed state-of-the-art infrastructure that performs various activities such as production, processing, research & development, quality testing, sales & marketing, administrative, storage, logistics, and packaging.
- Philippine Moringa & More Corporation participates in various events and exhibitions around the world, which helps the company showcase its products and increase its brand and product awareness.
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Explore More Valuable Insights
Persistence Market Research, in its new report, offers an impartial analysis of the global moringa ingredient market, presenting historical data (2016-2020) and estimation statistics for the forecast period of 2021-2031.
The study offers compelling insights based on nature (organic, conventional), form (powder, oil), source (leaf, fruits/pods), and application (food & beverages, dietary supplements, cosmetics & personal care, pharmaceuticals, textiles & paper industry, others), across seven major regions of the world.
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