The Moringa Ingredients Market Growth impelled by increasing awareness of health benefits of moringa-based products and growing utilization of moringa ingredients in pharmaceuticals.
New York, Sept. 01, 2021 (GLOBE NEWSWIRE) — Moringa Ingredients Market: Key Insights
According to our new research study on “Moringa Ingredients Market to 2028 – Global Analysis and Forecast – by Type, Category, and Application,” the Moringa Ingredients Market was valued at US$ 4,254.06 million in 2020 and is projected to reach US$ 7,307.17 million by 2028; it is expected to register a CAGR of 7.1% from 2021 to 2028.
Moringa Ingredients Market: Competition Landscape and Key Developments
Dominate Industries Moringa Initiative Ltd, Green Era Foods & Nutraceutics, Sarvaayush Ayurved & Herbals, Earth expo company, Saipro Biotech private ltd., Connoils LLC, Santan India, All Herbscare, and Herbs and Crops Overseas are among the major key players operating in the global moringa ingredients market. These key players in the moringa ingredients market focus on strategies such as mergers & acquisitions and R&D to increase their geographic presence and consumer base globally.
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In 2020, Asia Pacific contributed to the largest share in the global moringa ingredients market. The major factors driving this region's growth include the region's large-scale production and domestic consumption of moringa ingredients, which is propelled by food & beverage manufacturers' inclination toward product innovation through the introduction of novel ingredients to cater to customer indulgence. In addition, the growing consumer awareness regarding the health and nutritional benefits of moringa is one of the significant factors driving the industry in countries such as China, India, and the Philippines. Additionally, a change in the dietary choices of consumers is expected to increase the demand for the product on account of the increasing trend of veganism, which is paving the path for plant-based food products. Further, the presence of several manufacturers of moringa ingredients is boosting the market growth in the region.
Moringa is a plant utilized as food and to make medicine. They help in tackling health conditions such as diabetes and obesity. Moringa oil, leaf powder, moringa tea, and moringa fruits/pods are among the few common products of moringa. The pharmaceutical application segment of the moringa ingredients market is presumed to witness substantial demand due to enormous medicinal and nutritional benefits, which have been recognized in the Unani and Ayurvedic medicine. Almost every part of the moringa plant, including bark, gum, root, leaf, seed, and seed oil, has been utilized for various ailments in indigenous medicine. Various pharmaceutical properties of these products are utilized by traditional therapeutic remedies for the treatment of several diseases. There has been a heightening demand for moringa seed ingredients on the account of several useful medicinal and nutritional benefits. It can help in treating hyperthyroidism, rheumatism, Crohn's disease, anti-herpes-simplex virus arthritis, gout, cramp, epilepsy, and sexually transmitted diseases (STDs) by acting as an anti-inflammatory and antimicrobial agent. In addition, moringa leaves can help in treating several other diseases such as hyperglycemia, heartburn, dyslipidemia, asthma, flu, malaria, syphilis, scurvy, skin diseases, pneumonia, diarrhea, headaches, eye and ear infections, and bronchitis. It may also help reduce cholesterol and blood pressure and can act as an antimicrobial, antidiabetic, antioxidant, anticancer, and anti-atherosclerotic agent.
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Moringa Ingredients Market: Segmental Overview
By type, the global moringa ingredients market is segmented into leaves and leaf powder, oils, seeds, and others. The leaves and leaf powder segment captured the largest share in the global market in 2020 and is estimated to maintain its dominance during the forecast period. There has been a heightening demand for moringa leaf powder as it serves to be high in antioxidants. The rich iron content of the moringa powder makes it ideal for vegans and those suffering from anemia. The rich source of vitamin A serves to be essential for radiant and healthy skin, while vitamin E protects the cell from oxidative stress that helps in fighting the signs of aging. Further, moringa powder is measured as highly nutritious food and comprises several healthy compounds such as vitamin B1, vitamin A, calcium potassium, folate, zinc, and iron, which is a major factor driving the market for moringa ingredients.
Based on application, the global moringa ingredients market is segmented into food and beverages, personal care, pharmaceutical and nutraceutical, and others. The food & beverage application segment is expected to witness a significant demand owing to increasing consumer awareness regarding the health benefits and nutritional value of moringa when incorporated into the diet.
Impact of COVID-19 Pandemic on Moringa Ingredients Market
The COVID-19 outbreak has had a diverse impact in different countries, depending on cultural norms, mitigation efforts, and health infrastructure. However, various research studies have indicated the use of medicinal plant extracts against the novel virus can help curb health issues. Thus, with rising consumer health concerns, demand for moringa ingredients for end-use applications such as pharmaceuticals and nutraceuticals, food and beverages, and cosmetics is projected to grow in the coming years. Moringa is a multi-purpose herbal plant utilized as both a human meal and a medical alternative. Moringa contains 19 amino acids, nine of which are required for bodily activities.
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Amid the COVID-19 pandemic, consumers are focused on maintaining their health, which is likely to boost the sales of nutritional supplements globally. Furthermore, the consumer transition to plant-derived supplements influences moringa product growth, thereby subsequently affecting the moringa ingredients market. In the current situation, it is essential to improve immunity to combat the novel coronavirus and maintain hygiene and adhere to medical advice. Even the World Health Organization (WHO) guidelines in its COVID-19 report suggest the world population to consume immunity-boosting foods. However, the moringa product production was impeded as most governments were forced to impose stringent lockdowns and limitations on movement and trade due to the outbreak. The disturbance in the supply chain also resulted in a scarcity of raw materials, which contributed to a drop in finished product output and consumers’ limited purchasing power. These factors contributed to impeding market growth in the first and second quarters of 2020. However, with the relaxation of restrictions, the moringa ingredients market may witness a strong growth rate in the coming years.
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