Moringa Ingredients Market: Current Analysis and Forecast (2022-2028)

Moringa Ingredients Market: Current Analysis and Forecast (2022-2028)

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. 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 the 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 the 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 type, the market is segmented into leaves and leaf powder, seeds, oil, tea, and others. The leaves and leaf powder category is projected to offer lucrative opportunities for the growth and expansion of moringa ingredients market during the forecast period owing to the widespread applicability to the end-use sectors such as food and beverages, pharmaceuticals, personal care, etc. The medicinal and nutritive benefits derived from moringa ingredients are spreading awareness among consumers for leaves and leaf powder across the world. These ingredients are rich in various type of vitamins, calcium's, irons, and protein which boost the immunity, skin health and provide other benefits which ultimately contributes towards the growth of this market. For instance, in February 2019, the All Moringa firm, based in Los Angeles, launched additional products to its existing range of beauty, health, and wellness products. It has discontinued using synthetic components in its products and now uses natural extractions from the moringa plant as the main component.
• Based on origin, the moringa ingredients market has been classified into organic and conventional. Among them, the conventional category to witness higher market share during the forecast period. For Instance, the production of conventional moringa ingredients is quite economical and advantageous for large-scale companies. Therefore, most of the market players use this method to cater to the pharmaceutical, food and beverages and other industries. In addition, the growing personal care industry and increasing manufacturing of moringa dietary supplement products drive the growth for conventional moringa ingredients market.
• 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.
• 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.
• Some of the major players operating in the market include 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.