Global Moringa Extract Market Set to Reach $10.65 Billion by 2031

Redding California, March 15, 2024- Meticulous Research®, a premier provider of market intelligence and strategic advisory services, has released an exclusive report titled 'Moringa Extract Market by Type, Form, Application, and Geography - Forecast to 2031'. The report projects that the global moringa extract market will achieve a staggering valuation of $10.65 billion by 2031, exhibiting a compelling CAGR of 9.8% from 2024 to 2031.

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Market Dynamics and Growth Drivers
Consumers worldwide are increasingly gravitating towards products that are both healthy and naturally sourced. Moringa, renowned for its rich nutrient profile including vitamins, minerals, anti-inflammatory properties, and antioxidants, has emerged as a sought-after ingredient. With commercial moringa production thriving in tropical regions across Africa, Asia, the Pacific, and the Caribbean Islands, the market for moringa-based products is witnessing significant traction. These products are lauded for their potential health benefits, spanning immunity enhancement, digestive health improvement, and skincare and haircare benefits. The burgeoning demand for natural and plant-based supplements, coupled with the rising awareness of the health benefits of moringa, is propelling market growth.

Challenges and Opportunities
Despite the promising growth trajectory, challenges such as limited awareness about the benefits of moringa extract and the lack of regulation and quality standards pose hurdles to market expansion. However, the growing interest in moringa extract as a functional ingredient in the food and beverage industry and the rising consumer preference for superfoods present lucrative opportunities for market players.

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Key Findings and Market Segmentation
Type Differentiation: The report segments the market into moringa leaf extract, moringa seed extract, moringa bark extract, and moringa root extract. The moringa leaf extract segment is expected to dominate the market, driven by its widespread applications and abundant availability of raw materials.

Form: Powdered moringa extract is anticipated to hold a larger market share owing to its longer shelf life, ease of use, and versatility. The powder form's popularity is further bolstered by its convenience for manufacturers and growing demand from the supplements industry.

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Application: The dietary supplements segment is projected to register the highest CAGR, fueled by increasing consumer preference for natural and organic supplements and the rising prevalence of lifestyle diseases.

Geographic Trends: Asia-Pacific is poised to lead the market, propelled by increasing awareness of moringa extract's health benefits, the presence of key players, and rising demand for plant-based products. India, the largest producer of moringa globally, is driving regional growth with its robust agriculture and food industries.

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Key Players
Leading players in the global moringa extract market include Medikonda Agro Farms Private Limited, Taiyo GmbH, Sabinsa Corporation, Botanic Healthcare Group, Phyto Life Sciences Private Limited, S.A. Herbal Bioactives LLP, Allpure Organics, Alpspure Lifesciences Private Limited, Himalayan Herbaria Inc., Hunan New Mstar Biotechnology Co., Ltd., Vedaoils Private Limited, and Victoriafalls Ingredients Pvt. Ltd.

Mr. Khushal Bombe
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This release was published on openPR.