Moringa Extract Market Set to Reach $3.4 Billion by 2030 with Robust 15.6% Annual Growth, as per Persistence Market Research
The Moringa Extract market is propelled by increasing consumer awareness of health benefits, rising demand for natural supplements, and the plant's versatile applications across various industries
New York, Jan. 19, 2024 (GLOBE NEWSWIRE) -- The global moringa extract market is expected to grow at a rate of 15.6%, reaching $3.4 billion by 2030 from $1.2 billion in 2023.Growing health awareness is driving the demand for moringa extract as people redefine their approach to staying healthy. Consumers worldwide are increasingly incorporating health products like moringa extract into their daily routines to prevent illnesses and enhance well-being.
Moringa powder, rich in essential nutrients like vitamins and antioxidants, is widely used as an immune system booster. Suppliers can capitalize on this trend by ensuring their products contain high nutrient levels and offering product samples to potential global buyers. Highlighting the positive effects of moringa products in marketing campaigns is crucial.
The International Nut and Dried Fruit Council (INC) reports that half of global consumers seek wellness benefits from their food, leading to a rise in demand for food supplements. Changing health attitudes have also driven consumers towards energy products for an active lifestyle, creating opportunities for moringa extract. Energy drinks and dietary supplements offering an alternative to caffeine are gaining popularity worldwide.
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*Market Scope:*
*Report Coverage* *Details*
Market Revenue 2023 US$1.2 Bn
Estimated Revenue 2030 US$3.4 Bn
Growth Rate - CAGR 15.6 %
Forecast Period 2023-2030
No. of Pages 161 Pages
Market Segmentation By Product Type, Form, End Use, Distribution Channel, Region
Regions Covered North America, Latin America, Europe, South Asia & Pacific, East Asia, The Middle East & Africa
Key Companies Profiled · Botanic Healthcare
· Herbochem
· Medikonda Nutrients
· Taiyo GmbH
· S.A. Herbal Bioactives LLP
· Alpspure Lifesciences Private Limited
· Phyto Life Sciences P. Ltd.
· Allpure Organics
· Victoria Foods
*Historical Analysis of Moringa Extract Market*
The sales of moringa extract are rising due to the growing interest in health and wellness. Packed with vitamins, minerals, and antioxidants, moringa appeals to health-conscious individuals looking for natural and nutrient-rich supplements. Recognized as a superfood, moringa offers potential health benefits like immune support, anti-inflammatory properties, and increased energy levels, driving its demand.
Moringa is increasingly used as a natural supplement for weight management and appetite control, aligning with the growing focus on weight loss and healthy eating. As plant-based diets become more popular, moringa extract, rich in plant-based proteins, finds favor among vegetarians and vegans. Additionally, consumers seek natural remedies for health issues, and moringa is believed to address conditions like arthritis, diabetes, and digestive problems.
Moringa extract's alignment with the clean label trend, perceived as a pure and minimally processed ingredient, appeals to consumers seeking transparency in product ingredients. Its benefits for skin and hair health contribute to its inclusion in cosmetic and personal care products, boosting demand in the wellness and beauty sectors.
The market sees a crucial trend of increased awareness of moringa's nutritional benefits, especially in emerging businesses, leading to a surge in demand. Many consumers prefer natural alternatives to synthetic supplements, and moringa extract provides a plant-based option to meet nutritional needs. Ethical and sustainable sourcing of moringa extract resonates with environmentally conscious consumers, enhancing its appeal in the market.*In a nutshell, the Persistence Market Research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the report at - *https://www.persistencemarketresearch.com/market-research/moringa-extract-market.asp
*Market Dynamics:*
A significant factor driving the market is the increasing awareness among consumers about the various health benefits of drumsticks, coupled with their traditional use as a vegetable in many Asian countries. The industry has grown due to the widespread incorporation of drumstick in various medicinal, cosmetic, and nutritional supplement products.
The market for moringa products is gaining popularity as a food fortification element to address hunger and malnutrition, attracting health-conscious consumers. Moreover, extensive research is underway to explore the full potential of these products in the pharmaceutical sector.
For example, a research paper published in the International Journal of Current Pharmaceutical Research in 2018 delves into the use of moringa products as a natural polymer for effective drug administration, highlighting the substantial growth potential of the market in the coming years.
The organic goods market has witnessed significant growth and increased demand, extending beyond the food and beverage sector. This is mainly driven by the growing awareness of the benefits of organic products compared to their conventional counterparts. Presently, consumers are focusing on safer and healthier choices, influencing their dietary preferences.
People are opting for natural and organic vitamins to reduce the risk of illness. The market is positively impacted by the rising popularity of clean-label products, particularly in developed economies like North America and Europe. This trend has prompted several manufacturers to develop organic-based products to reach a wider customer base, contributing to the industry's expansion.
*Market Segmentation*
What's the Leading Product?
Moringa Leaf Extract Takes the Lead for its Versatility
The standout product is unquestionably moringa leaf extract, known for its rich nutrient content—packed with vitamins, minerals, and antioxidants. Extracting from the leaves captures this nutritional wealth, making it a versatile and highly sought-after ingredient. Widely used in nutraceuticals and functional foods, moringa leaf extract provides a natural solution for nutritional needs. Another rapidly growing category is moringa seed extract, valued for its unique composition with beneficial compounds like oleic acid and antioxidants. This extract shows promise across diverse applications, from cosmetics to oil extraction.
Which Form is Prominent?
Powder Dominates with Concentrated Nutritional Benefits
Moringa powder takes the lead, offering a concentrated nutritional powerhouse in the market. Its popularity stems from convenience, versatility, and concentrated nutritional benefits. Consumers favor moringa powder for its easy integration into various culinary creations, smoothies, and beverages, making it a staple in health-conscious diets. Capsules/tablets represent the fastest-growing category, driven by the demand for convenient and standardized dosage options. These forms provide a hassle-free and precise way for consumers to incorporate moringa's nutritional benefits into their daily routines, offering a measured dose without complex preparation.
Which End Use Leads?
Pharmaceuticals Take the Front Seat for Anti-inflammatory and Antioxidant Demand
The pharmaceutical category dominates as the market recognizes the therapeutic properties of moringa extract. With anti-inflammatory, antioxidant, and antimicrobial attributes, moringa is increasingly used in formulating medicines to address diverse health concerns. The bioactive compounds in moringa play a crucial role in creating effective pharmaceuticals. Additionally, the cosmetics and personal care sector shows significant growth, highlighting moringa's radiant and nourishing properties. Consumer preferences for natural ingredients drive the ascent of moringa extract in skincare and personal care products.
*Regional Overview*
The Asia Pacific emerged as the dominant force in the market, capturing the largest share of revenue. India takes the lead as the primary cultivator and exporter of moringa globally, benefiting from favorable growing conditions. The regional market gains strength from farmers' increasing knowledge and advancements in agricultural techniques.
Growing urbanization in countries like China and India is fueling the demand for functional foods. The urban population's growing awareness of the health benefits of moringa components contributes to continuous revenue growth and ongoing development.
Significant changes in agricultural methods and related technological advancements are evident in these nations. Expanded agricultural practices for moringa cultivation enhance the capacity to supply ingredients to both local and regional markets, leading to the highest revenue share in the regional market.
The Asia Pacific is projected to experience the fastest growth from 2020 to 2028. The industry expands due to the continually rising demand in emerging economies and the increasing spending power of the population. High-potential markets in the region, such as China and India, contribute to this growth as the demand for new products continues to rise.
*Competitive Insights and Business Strategies*
Leading organizations, such as Botanic Healthcare, Herbochem, Medikonda Nutrients, and Taiyo GmbH, spearhead the moringa extract sector. Competitive intelligence in this market involves a thorough analysis of key players, their strategies, and the industry landscape to gain a strategic advantage. This includes monitoring competitors' product portfolios, pricing strategies, and distribution channels. Understanding the competitive landscape enables businesses to identify emerging trends, potential collaborations, and areas for innovation. Gathering intelligence on regulatory changes, consumer preferences, and technological advancements is crucial for staying ahead in this dynamic market. Effectively utilizing competitive intelligence allows companies to make informed decisions, mitigate risks, and position themselves strategically to capitalize on evolving market dynamics.
*Recent Developments in the Moringa Extract Market:*
- In July 2023, Naturally Australian Products (NAP) expanded its cosmetic oils range by introducing Moringa oleifera. The moringa seed extract and moringa leaf powder for NAP's products come from a Ghanaian manufacturer.
- In September 2022, Taiyo took a significant step in ensuring product quality by receiving Informed Ingredient accreditation for MorActive. This product, a blend of moringa seeds, extracts, and Sunfiber, enhances assurance in the athletic nutrition and lifestyle supplementation sectors.
- In October 2022, Taiyo's new moringa seed extract received official verification from the United Kingdom's Government Chemists' Laboratory (LGC) under the complete global prohibited components testing and certification scheme for dietary supplement components.
*Key Questions Answered in the Report:*
1. What are the contributing factors to the market's growth trends?
2. What is the current market size, and how is it expected to change in the upcoming years?
3. What are the key elements exerting influence on the market?
4. How is the Moringa Extract market segmented, considering types, applications, fuels, or other relevant factors?
5. Who are the major participants in the Moringa Extract market?
6. What strategies are these players employing to establish a competitive edge?
7. What factors are propelling the expansion of the Moringa Extract market?
8. Which regions are anticipated to witness notable growth, and what are the driving factors behind it?
9. What recent technological advancements are impacting the Moringa Extract industry?
*About Persistence Market Research:*
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