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Moringa Ingredients Global Market Navigating Trends, Share Report, Growth Drivers, Market Size And Future Outlook 2024-2033
Moringa Ingredients Global Market
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According to The Business Research Company's, The moringa ingredients market size has grown strongly in recent years. It will grow from $7.81 billion in 2023 to $8.5 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to traditional medicinal use, nutritional awareness, sustainable agriculture focus, pharmaceutical applications, rise in functional foods.
The moringa ingredients market size is expected to see strong growth in the next few years. It will grow to $12 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to research and development initiatives, pharmaceutical and nutraceutical usage, functional ingredient demand, regenerative agriculture emphasis, sustainability and eco-friendly products. Major trends in the forecast period include social responsibility and fair trade, research and innovation, pharmaceutical and nutraceutical applications, functional foods and beverages, sustainable agriculture.
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Market Drivers and Trends:
The shift of customer preferences towards plant-based foods is driving the growth of the moringa ingredient market. Plant-based foods such as moringa contain high levels of protein, minerals, and antioxidants. Consumers are increasingly preferring plant-based foods to improve overall health, weight management, and eat a healthier diet. For instance, in July 2023, according to reports published by Front Office Sports, a US-based media company, there were $586 million in investments made globally in plant-based protein alone. About a third of U.S.-based consumers anticipated eating more plant-based foods, particularly protein alternatives. This behavior is most prominent in millennials, with 48% of respondents indicating definitive plans. Thus, the change in customer preferences towards plant-based foods is driving the market growth of moringa ingredients.
Major companies operating in the moringa ingredients market are developing new products such as cosmetics oils to gain a competitive edge in the market. Cosmetic oils refer to natural or synthetic oils that are utilized in various cosmetic and personal care products. For instance, in July 2023, Naturally Australian Products Inc., a US-based personal care products company, launched Moringa oleifera, renowned as a miracle tree for its nutrient-rich leaves and seeds. Sourced from a Ghanaian producer, NAP offers both moringa seed oil and moringa leaf powder. Moringa is gaining popularity in personal care due to its ecological sustainability compared to oils such as palm oil, along with its skin-friendly attributes surpassing coconut oils. The addition aligns with NAP's commitment to ethical sourcing, promoting regenerative agriculture practices, benefiting small farming families in Ghana, and contributing to environmental sustainability with over 3 million moringa trees planted. The cold-pressed moringa oil and organic moringa powder reflect NAP's dedication to high-quality, natural ingredients.
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Major Key Players of the Market:
H&C GROUP Ltd., The Himalaya Drug Company FZCO, Organic India Pvt Ltd., Moringa Initiative Ltd., Grenera Nutrients Inc., Green Virgin Products LLC, Moringa Energy Life LLC, KuliKuli Inc., Saipro Biotech Pvt Ltd., Ancient Greenfields Pvt Ltd., Earth Expo Company, Ancient Greenfields Pvt Ltd., Botanica Natural Products Ltd., Aayuritz Phytonutrients Pvt Ltd., Ayur Pty. Ltd., Farmvilla Food Industries Private Limited, Shree HariRas health care center, Kangar Moringa Farm LLP, Genius Nature Herbs Pvt Ltd., The Moringa Group LLC, Nature's Superfoods LLP, Dominate Industries, HNCO Organics Private Limited, Maiam Group Companies, Dawn Moringa
Moringa Ingredients Market 2024 Key Insights:
• The moringa ingredients market size is expected to see strong growth in the next few years. It will grow to $12 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%.
• Rising Consumer Demand For Plant-Based Foods Drives Growth In Moringa Ingredients Market
• Product Innovations Transforming The Moringa Ingredients Market
• Europe was the largest region in the moringa ingredient market in 2023
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