Moringa ingredients can be defined as the parts of moringa plant like bark, seeds, pods, flowers, leaves, and others which are derived from the moringa tree for their nutritional properties. These ingredients are a rich source of nutrients such as protein, carbohydrates, calcium, phosphorus, potassium, iron, vitamins, and other bioactive compounds. The moringa plant, commonly called as drumstick tree, has various health benefits. Ingredients extracted from this plant such as leaf powder, oil, and seeds are widely used across various industries such as food and beverages, pharmaceuticals, cosmetics, nutraceuticals, and personal care, due to their antifungal, anti-depressant and anti-inflammatory properties.
The Moringa Ingredients market is expected to grow at a steady rate of around 9% owing to the increased consumer awareness about the nutritional benefits of moringa products and the growth and expansion of the food and beverages industry are the key factors that drive the growth of the market.
According to UnivDatos Market Insights (UMI)’ research report, The Moringa Ingredients Market was valued at more than USD 6 billion in 2020 and is expected to grow at a CAGR of around 9% from 2022-2028.
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Furthermore, the moringa ingredients market is also growing as a result of changes in consumer tastes and preferences linked with rising disposable income. Surge in number of restaurants, hotel chains and other such food and beverage outlets especially in developing economies is a major factor to drive the market growth during the forecast period. For instance, in 2020, the total number of food service businesses worldwide varied greatly by country. China had the most businesses at 9.3 million. Similarly, the country with the second highest number of food service outlets, India, had 4.1 million.
Major companies are making plans such as launch of new product offerings, mergers, and acquisitions to gain competitive edge in the moringa ingredients market and enhance their customer base. For instance, in March 2020, a UK based tea maker in India, Typhoo Tea Limited, introduced different types of new organic herbal teas such as purifying super greens, digestive power seeds, and immunity-boosting three tulsi. The organic moringa and a blend of other elements make up the purifying super greens, which offer all-around purifying effects.
Based on application, the market has been categorized into food and beverages, pharmaceuticals, personal care, dietary supplements/ nutraceuticals, cosmetics and others. The food and beverages segment is anticipated to witness the highest CAGR during the forecast period owing to rising consumer awareness of the connection between health, nutrition and food and the rising demand for functional ingredients derived from plant sources such as Moringa oleifera. However, the pharmaceutical segment is expected to grow significantly throughout the period of forecast due to the tremendous medicinal and nutritional benefits recognized in Unani and Ayurvedic medicine. In native medicine, nearly every component of the plant, including the bark, root, leaf, gum, seed, and seed oil, has been utilized to treat various diseases. For instance, in 2019, an Indian-based Dr. MinalKabra has introduced Kivu in the market. It is a plant-based sugarless cookie business providing sugar-free cookies made from different vegan ingredients including moringa, ragi, jowar, oats, flaxseed, and rajgira among others.
Based on distribution channel, the market is segmented into online, supermarket/hypermarket, retail stores and specialty stores. Among them, the specialty stores held the greatest share in the market due to consumer’s preference to buy product after physical examination in terms of purpose fulfillment, nutritional facts, dosage and expiry, brand value, etc. Furthermore, the online segment is the fastest-growing segment of the market owing to the ease of accessibility to purchase by comparing prices, benefits and other factors.
Asia-Pacific to witness extensive growth
For a better understanding of the market adoption of the moringa ingredients Industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Mexico, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Russia, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Indonesia, South Korea, Rest of Asia-Pacific), Rest of World. Asia-Pacific holds the major market share in moringa ingredients market and is anticipated to grow at a substantial CAGR during the forecast period. Some of the major factors boosting the market growth is the increasing consumer consciousness towards health and plant based products to fulfill their nutritional needs relating to general health, skin care, hair care, and prevention of diseases, etc.
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the moringa ingredients market are Ancient Greenfields PVT LTD, Earth Expo Company, Grenera Nutrients Private Limited, H&C GROUP OF COMPANIES, Kuli Kuli Foods, Dominate Industries, Saipro Biotech Private Limited, Organic India Pvt. Ltd., Aayuritz Phytonutrients Pvt.Ltd., and Moringa Initiative.
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“Global Moringa Ingredients Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
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