Growing demand for moringa ingredient in functional foods and beverages, driving market expansion
From GlobeNewswire: 2024-12-10 12:18:00
The global moringa market is expected to reach $8.25 billion in 2024 and projected to increase to $16.37 billion by 2034. Moringa is gaining popularity in functional foods and beverages due to its nutritional value, including proteins, calcium, and vitamins. Functional food companies are incorporating moringa ingredients to enhance product attractiveness and nutritional benefits.
North America holds a significant market share in the global moringa market, driven by the increasing demand for organic and plant-based products. Companies in the United States and Canada are utilizing moringa ingredients in functional foods, dietary supplements, and natural cosmetics. The East Asia market is expanding rapidly due to the rise of plant-based diets.
Key takeaways from the study show that the global moringa market is expected to grow at a 7.1% CAGR from 2024 to 2034. North America is estimated to hold 24.8% market share in 2024, with the demand for moringa powder forecasted to increase at a 7.3% CAGR. The East Asia market is projected to generate revenue of $3.78 billion by 2034.
Moringa oil is experiencing a surge in demand due to its versatility and effectiveness in skincare and haircare products. The oil is rich in vitamins, antioxidants, and beneficial fatty acids, making it a popular choice for skin and hair health. Moringa powder, on the other hand, is known for its nutritional value and is commonly used in food products and supplements.
Key players in the Moringa Ingredient Industry include Earth Expo Company, Green Earth Products Pvt. Ltd., Paritosh Herbals, and more. The North American market remains a significant player in the global moringa ingredient market, driven by consumer demand for organic and plant-based products. East Asia is also poised to capture a significant market share in 2024.
The global moringa ingredient market is witnessing growth due to the increasing preference for functional foods and beverages. Moringa is being incorporated into products like energy bars, smoothies, and teas to provide enhanced energy and overall wellness. The market is projected to continue expanding, driven by the health-conscious consumer trend.
Fact.MR offers an unbiased analysis of the moringa ingredient market, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034. The study covers various aspects of the market, including nature, form, source, and application across seven major regions worldwide.
Other market insights from Fact.MR include the global ben oil market, nutritional blends market, flavor modulator market, collagen-infused beverages market, and horticultural ingredient market. These markets are projected to see significant growth and offer valuable opportunities for businesses in the industry.
Read more at GlobeNewswire: Moringa Ingredient Demand Reaches US$ 16.37 Billion,