Moringa Market to Grow at a CAGR of 8.7% During the Forecast Period 2020-2025

Moringa Market size is estimated to be $6.3 billion in 2019, growing at a CAGR of 8.7% during the forecast period 2020-2025. Moringa is a vegetable tree that is also called the drumstick tree, the miracle tree, the benoil tree or the horseradish tree. Moringa is an important food source in some parts of the world owing to its high content of vitamins and minerals, it is used in feeding programs to fight malnutrition. Growing population along with increasing prevalence of diabetes, chronic disease, cancer, asthma, high blood pressure, kidney stones and other cardiovascular diseases and the preference of vegetarian foods among consumers is a significant factor driving the Moringa market in the upcoming years. Besides this, the shift of consumers towards vegetarian food owing to its several health benefits is propelled to increase the utilization and demand of moringa product. Product launches, development, collaboration is some of the key factors that the companies are adopting in order to expand their product portfolio is further contributing to its market growth. For instance, in February 2019, All Moringa launched a new natural luxury brand of moringa health and wellness products. Further, the internal supplements and therapeutic skin care products are made using the moringa tree and are 100 percent pure with no synthetic ingredient added, thus propelling the market growth.

Moringa Market Segment Analysis – By Product

By Product, the Moringa Market is segmented into Moringa Oil, Moringa Leaf and Moringa Flower and Fruits. Among these, the moringa oil accounted for the largest market share in 2019 owing to its several advantages for protecting the hair against free radicals and keeping it clean and healthy. Moreover, moringa also contain protein which helps in protecting skin cells from damage. In addition, the presence of hydrating and detoxifying elements boosting the skin and hair is further propelling its demand. Also, moringa leaf segment is projected to witness growth at fastest CAGR of 9.3% in forecast period 2020-2025. As, moringa leaves have 7 times more vitamin C than oranges and 15 times more potassium than bananas it is considered as an important source of food. In addition, it contains potassium, calcium, iron and amino acids which helps the body in healing and building muscle. Owing to these benefits of Moringa, there is an upsurge in the demands of these products and the market and is estimated to witness significant growth during the forecast period 2020-2025.

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Moringa Market Segment Analysis – By Application

By Application, the Moringa Market is segmented into Food and Beverages, Cosmetic & Skincare products, Bakery & Confectionary and Pharmaceutical Industry. Food and Beverages segment held the largest market share in the year 2019 owing to the wide usage of Moringa in beverages as well as in food products. Moreover, moringa is often added to smoothies, drank as a tea or included in nutrition bars and energy drinks. In addition, the changing lifestyle and the preference for energy drinks, fruit juices among consumers owing to its nutritional benefits is contributing to its market growth. Also, cosmetic and skincare segment is projected to witness growth at fastest CAGR of 8.9% in forecast period 2020-2025. As moringa consists of antibacterial properties its helpful in preventing acne breakouts and also helps in removing blemishes, dark spots, pimples and headaches. Owing to these benefits of Moringa, there is an increase in the demands of cosmetic and skincare products of moringa and the market and is estimated to witness significant growth during the forecast period 2020-2025.

Moringa Market Segment Analysis – Geography

Europe contributed to the largest market share of 37% owing to rising demand for nutritional supplements from the region. APAC is another significant region for moringa market owing to the presence of prime producer in the region with an annual production of 2.20 to 2.40 million tonnes of tender fruits from an area of 38,000ha leading to the productivity of around 63 tonnes per ha. Moreover, moringa is grown extensively in the tropics and subtropics of India and Africa which in turn is boosting its market growth in that region. North America Moringa market is another dominant market owing to the product innovation and development coupled with enhanced fundings offered by the key players. For instance, in January 2017 Oakland start-up Kuli-Kuli raised $4.25 million in a series a round of funding to bring moringa, a high protein plant in the US diet.

Moringa Market Drivers

Increasing Awareness Among Consumer Regarding Nutritional Benefits of Moringa

Increasing awareness among consumers regarding nutritional benefits of Moringa is a significant factor driving the Moringa market during the forecast period 2020-2025. Moreover, moringa extracts contains properties and niazimicin that helps to prevent cancer and also suppress the development of cancer cells. In addition, out of many benefits, a recent 2016 study at the Academy of Nutrition and Dietetics confirmed that users consuming more plant-based nutrients have reduced the risk of chronic health issues and diseases including ischemic heart disease, type 2 diabetes, hypertension, cancer and obesity. Hence, these are the key factors driving the Moringa market in the upcoming years.

Cost-Effectiveness

Cost-effectiveness is a major factor driving the Moringa Market during the forecast period 2020-2025. Changing lifestyle along with the growing health concern and hectic schedules of people around the world is further propelling its market. Moreover, the rising demand of bakery and confectionary products in various occasion at affordable prices is further contributing to its market growth.

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Moringa Market Challenges

Side-Effects Related to Moringa Foods

Some of the factors that may impede the growth of Moringa Market during the forecast period 2020-2025 are the side-effects related to Moringa foods. Moreover, larger amount of consumption of moringa may lower blood pressure and slow heart rate owing to the presence of alkanloids in the plant thereby restraining its market growth.

Moringa Market Industry Outlook

Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in Moringa Market. Moringa Market top 10 companies are Grenera, Healing Moringa Tree, Holy Natural, Moringa Farms Inc., Moringa For Life, Natures Velvet Life Care, Organic Tree, Orgrain India, Swmabhan Commerce Pvt Ltd and Tradin Organic Agriculture.

Developments

March 2020: Vitarbo AG continuing trading moringa products-leaves, powder and extract and offer these basic products in the B2B business model of the food industry.

Key Takeaways

The moringa oil accounted for the largest market share in 2019 owing to its several advantages for protecting the hair against free radicals and keeping it clean and healthy.

Food and Beverages segment held the largest market share in the year 2019 owing to the wide usage of Moringa in beverages as well as in food products.

Europe contributed to the largest market share of 37% owing to rising demand for nutritional supplements from the region.

Increasing awareness among consumers regarding nutritional benefits of Moringa is a significant factor driving the Moringa market during the forecast period 2020-2025.

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