Maqui Berries Market Valued at USD 21.5 Bn in 2021, Set for 10.7% CAGR Expansion - Analysis by TMR

The global maqui berries market was valued over US$ 21.5 Bn in 2021 and is estimated to expand at a CAGR of 10.7% from 2022 to 2031. By the end of 2031, the market is expected to cross US$ 59.5 Bn. Maqui berries, known for their high antioxidant content, have gained significant traction as consumers increasingly seek natural and healthy food ingredients. The conventional segment of maqui berries holds a dominant market volume share of around 71%, with 755.8 Metric Tons in 2021. The dietary supplements segment holds a majority value share of 47%, valued at US$ 11,215.5 Mn in 2021, and is expected to grow at a CAGR of 11.2% over the forecast period. The fresh segment holds a market share of 58%, with a total value share of US$ 12,404.0 Mn in 2021, and is anticipated to reach US$ 32,789.8 Mn by the end of 2031.

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Market Size and Growth

The global maqui berries market has witnessed remarkable growth, driven by the increasing demand for superfoods and natural health products. With a valuation of over US$ 21.5 Bn in 2021, the market is poised for substantial expansion, projected to surpass US$ 59.5 Bn by 2031. This growth trajectory is underpinned by a robust CAGR of 10.7% from 2022 to 2031. The surge in demand for maqui berries is attributed to their high antioxidant content, which offers numerous health benefits, including reducing the occurrence of diseases such as cancer and heart conditions. As consumers continue to prioritize health and wellness, the maqui berries market is set to thrive.

Market Segmentation

The maqui berries market is segmented based on nature, end use, and form. In terms of nature, the conventional segment dominates the market, holding a significant volume share of around 71% and 755.8 Metric Tons in 2021. The end-use segment is led by dietary supplements, which hold a majority value share of 47%, valued at US$ 11,215.5 Mn in 2021, and is expected to grow at a CAGR of 11.2% during the forecast period. On the basis of form, the fresh segment holds a substantial market share of 58%, with a total value share of US$ 12,404.0 Mn in 2021, and is anticipated to reach US$ 32,789.8 Mn by the end of 2031.

Regional Analysis

The Latin America region holds a market value share of 31% of the overall market, with Chile being the leading country, holding a market share of around 42%, followed by Brazil with approximately 21%. Maqui berries are native to the southern regions of Chile and parts of Argentina, where they are exclusively grown. The berries are harvested from the forests during the November to March period, depending on the region. The strong preference for antioxidants in food products is driving the demand for maqui berries in these regions, contributing to their market dominance.

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Market Drivers and Challenges

The increasing global trend of consuming natural and healthy food ingredients is a major driver for the maqui berries market. Consumers are seeking foods that offer additional health benefits beyond basic nutrition, fueling the demand for superfoods like maqui berries. The market has experienced a significant boom, similar to the introduction of acai berries, but at a higher growth rate due to the superior antioxidant content of maqui berries. However, challenges such as ensuring sustainable harvesting practices and maintaining quality standards pose potential obstacles to market growth.

Market Trends

One notable trend in the maqui berries market is the exploration of the potential of maqui berries seed oil in cosmetics. The application of maqui berries in cosmetic products has gained traction in recent years, with producers leveraging its benefits for skin problems, pigmentation, anti-aging, and skin whitening products. Additionally, the demand for 'all natural' preserving methods for frozen fruits is on the rise, as consumers move away from artificial additives and ingredients. This trend is bolstering the demand for frozen super fruits, including maqui berries, which are available in individual quick freezing (IQF) forms.

Competitive Landscape

The competitive landscape of the maqui berries market is characterized by key players focusing on offering nutrient-dense products that meet customer requirements by eliminating artificial ingredients. Leading players such as Navitas Organics and Terrasoul Superfoods are committed to providing 100% organic, non-GMO, kosher, and gluten-free certified products. These companies employ methods such as freeze-drying and low-temperature processing to ensure maximum nutrition and flavor. Other prominent players in the market include Sunfood Superfoods, Maqui New Life S.A., Seven Hills Wholefoods, Bayas del Sur SA, SouthAm Freeze Dry, Neorganika, ARAUCO NUTRIENTES NATURALES, HP Ingredients, and Kiva Health Food.

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Future Outlook

The future outlook for the maqui berries market is promising, with continued growth anticipated over the forecast period. As consumers increasingly prioritize health and wellness, the demand for natural and nutrient-rich food products is expected to rise. The market is likely to witness further innovations in product formulations and applications, particularly in the cosmetics and dietary supplements sectors. Additionally, the focus on clean label products and transparency in ingredient sourcing will play a crucial role in sustaining consumer trust and driving market growth.

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