Market Forecast:
Baobab fruit is a wholesome nutrient fruit that has different uses as per its form. Baobab is gaining popularity in various industries such as functional foods, beverages, sauces & seasonings, nutraceuticals, cosmetics, and others, which is boosting the growth of the market. The high shelf life of the product is having a positive impact on the growth of the market.
Increasing awareness of the baobab in various regions is expected to surge the growth of the market. Moreover, continuous R&D is likely to lubricate the growth of the baobab market with various innovations globally. All these factors are projected to contribute to the estimated CAGR of 5.3% of baobab market during the forecast period 2017-2023.
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Downstream Analysis:
Baobab market is segmented on the basis of species such as Adansonia Digitata, Kilima, Grandidieri, Madagascariensis, and others. Among all, the Digitata is the most commonly available source for baobab, which grows in various parts of Africa and the Middle East including Yemen, Oman, and Ghana.
On the basis of the form, the global baobab market is segmented into oil, powder, fruit pulp, and others. Among all, the baobab oil is dominating the market and is expected to grow at the fastest rate over the forecast period owing to its rising demand for cosmetics. The Baobab powder is the second largest segment of the baobab market and is projected to continue its growth in the coming years.
Based on the application, the market is segmented into a functional food, beverages, sauces & seasonings, nutraceuticals, cosmetics, and others. The cosmetics segment is dominating the market based on the high application of baobab oil as a skin and hair moisturizer. However, the functional foods segment is projected to grow substantially over the forecasted period based on increasing awareness towards the nutritional value associated with baobab.
Competitive Analysis:
The major players in the Baobab Market,
- Afriplex (PTY) Ltd. (South Africa)
- Mighty Baobab Limited (U.K.)
- Eco products (South Africa)
- Baobab Fruit Company Senegal (Italy)
- B'Ayoba (Zimbabwe)
- Organic Africa (Zimbabwe)
- Baobab Foods (U.S.)
Regional Analysis:
The global baobab market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America is projected to grow substantially over the forecasted period followed by Europe. Inclination towards functional foods among the consumers in the U.S. is boosting the growth of the market in North America. In Europe, the Western Europe countries comprising of France, the U.K., Belgium, and the Netherlands and they are the major contributors to the growth of the baobab market in this region.
Asia Pacific is projected to witness a moderate growth over the estimated period owing to increasing awareness in developing countries. However, Africa and Australia are dominating the market owing to high cultivation and consumption of baobab in these regions.
Market Segmentation:
Baobab market is segmented on the basis of species, form, application, and the region.
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The global Aromatics Market Share, by Region Source: MRFR analysisSegmentationThe global aromatics market Trend is segmented into type and application.
On the basis of product, the market is segregated into benzene, toluene, o-xylene, p-xylene, and rubber segments.
The market by application is further categorized into paints & coating, automotive, pharmaceuticals, oil & gas, chemicals, and others.Competitive AnalysisSome of the well-known players operating in the global aromatics market are Eastman Chemical Company (U.S.), Ashland (U.S.), BASF SE (Germany), Huntsman Corporation (U.S.), Celanese Corporation (U.S.), Petrochem Carless Ltd.(U.K.), INEOS (Switzerland), The ExxonMobil Corporation (U.S.), Royal Dutch Shell plc(the Netherlands) and Honeywell International Inc. (U.S.) among others.
Market Overview: Aromatics are used in a wide variety of applications, which is capable of offering versatile nature, safety, and high performance to the product.
Moreover, increasing demand for toluene as a solvent in paint thinners, nail polish removers, glues, and other products is likely to witness a rapid growth during the forecast period.
These factors have led to China, India, and Japan to be the major players of this region.The North American market is expected to grow at a higher CAGR due to extensive consumption of aromatics in paints & coating, oil & gas, chemicals, and others.
Over the last two decades, preclinical imaging has witnessed significant importance in the drug discovery and development.
Development of technologically advanced multi-modality preclinical imaging systems and their increased adoption in preclinical research studies acted as driving factor for global preclinical imaging market.Market Overview -According to research report preclinical imaging market is expected to reach USD 910.4 Million by 2021; growing at a CAGR of 6.2% during 2016 to 2021.
The Report analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=841Geographical Overview -North America (except Mexico) and a major part of the European region are mature markets for preclinical imaging systems and reagents.
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Increased government investments towards the development of country’s pharmaceutical industry are leading to the growth in the number of preclinical research studies in China.
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Compostable Food Service Packaging market is anticipated to observe growth during the forecast period due to growing demand at the end user level.
Compostable Food Service Packaging report gives a clue about the uncertainties that may come up due to changes in business activities or introduction of a fresh product in the market.
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Disaster Recovery as a Service Market Disaster recovery-as-a-service is a type of a cloud computing whose main function is to use different cloud resources so that they can protect the data and applications from disturbance that is caused by any disaster.
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