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Goji Berries Market Report: Industry Analysis, Share, and Growth Trends
Goji Berries Global Market Report 2024
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According to The Business Research Company's, The goji berries market size has grown strongly in recent years. It will grow from $1.47 billion in 2023 to $1.54 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to the rise in vegan and vegetarian trends, celebrity endorsements and influencer marketing, expansion into niche markets, and regulatory changes favoring superfoods.
The goji berries market size is expected to see strong growth in the next few years. It will grow to $1.89 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to growing demand for natural and organic products, increasing demand in cosmetic industry demand, rising incidence of lifestyle diseases, rising packaged food consumption, and rising demand for functional foods. Major trends in the forecast period include product innovations, sustainable farming practices, research and development investments, organic and natural preferences, and sustainable sourcing.
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Market Drivers and Trends:
Growing demand for natural and organic products is expected to propel the growth of the goji berries market going forward. The demand for natural and organic products is growing due to increasing consumer awareness of health, sustainability, and environmental impact. Goji berries enhance organic products by providing a nutrient-rich, antioxidant-packed ingredient that supports health-conscious, sustainably farmed offerings. For instance, in May 2024, according to the Organic Trade Association, a US-based non-profit organization, organic product sales reached $69.7 billion in 2023, up from 67.6 billion in 2022. Therefore, the growing demand for natural and organic products is driving the goji berries market.
Major companies operating in the goji berries market are focusing on expanding their offerings through product innovations such as goji berry drinks to cater to the growing demand for healthy, natural beverages and capitalize on the rising trend of functional foods and wellness products. Goji berry drinks refer to beverages made from goji berries, either as juice or blended with other ingredients, designed to offer the nutritional benefits of the berries, such as antioxidants, vitamins, and minerals. For instance, in September 2022, Luxe Beauty and Wellness Group, a US-based health and beauty company, introduced the Tipsy Goji Berry drink, a groundbreaking beverage that combines the health benefits of goji berries with a refreshing taste. This innovative drink combines the health benefits of goji berries with a refreshing taste, aiming to provide consumers with a guilt-free indulgence that also offers a mild buzz. The Tipsy Goji Berry drink promises to deliver a refreshing experience while maintaining a balance between enjoyment and health, appealing to consumers looking for healthier alternatives in the beverage market.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Sunfood Superfoods, Starwest Botanicals, The Berry Company, Tierra Farm, Organic Traditions, Navitas Naturals, Shiloh Farms, Ningxia Red Power Goji Co. Ltd., Dragon Herbs, Naturya, Alovitox, Earth Circle Organics, Feel Good Organics, Gojix Ltd., Indigo Herbs, Keva Kaipo Industries, King Nuts and Raaphorst B.V., Mattisson BV, Plantogram, Seven Hills Wholefood, Sunrise Botanics, The Tibetan Goji Berry Company, Viva Naturals, Wildly Organic
Goji Berries Market 2024 Key Insights:
• The goji berries market size is expected to see strong growth in the next few years. It will grow to $1.89 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%.
• Rising Demand For Organic Products Drives Growth In The Goji Berries Market
• Innovative Goji Berry Drinks Address Rising Demand For Healthy, Natural Beverages
• North America was the largest region in the goji berries market in 2023
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