Moringa Market is anticipated to grow at a CAGR of ~8.4% from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Moringa Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global moringa market is estimated to be over US$ 5.7 Billion in 2019. It is anticipated to grow at a CAGR of ~8.4% from 2019 to 2030.
The moringa market has gained more exposure owing to rising awareness and concern among consumers regarding health benefits. Every part of the tree can be consumed as it confers health benefits. Moringa extracts are rich in proteins, vitamins, minerals, and amino acids. In 2018, National Health Mission (NHM) in Gujarat, India has recommended consumption of moringa leaves, fruits, and barks to fight malnutrition. Philippine Moringa & More Corporation has recently launched instant moringa herbal tea to increase the adoption of moringa.
Moringa, a multipurpose tropical tree has been used for centuries owing to its therapeutic benefits. They are used as a food ingredient in different recipes. Moringa extracts are used in treating obesity, heart infections, skin infections, and kidney stones among others. Health-conscious people are willing to adapt to a healthy diet by including moringa extracts in their diet that is in turn boosting market growth. Moreover, increasing demand for organic products is further propelling the moringa market.
The factors which may hinder market growth include cost and associated competition. The cost of moringa extract is higher. People from low and middle-class families might find it difficult to afford. Also, technological requirements and requirements for organic certification may serve as market entry barriers. Moringa requires suitable drying equipment and logistical arrangements to prevent quality deterioration after harvesting. This technological barrier may restrain the market. There is a high demand of organic-certified moringa by most European buyers. One has to show compliance of their product with international standards before exporting moringa. This complicated organic processing of moringa and organic certification might restrain the market.
Browse key industry insights spread across 190 pages with market data tables & figures & charts from the report, Moringa Market by Product (Moringa Leaves, Moringa Flowers and Fruits, Moringa Oil and Seed, and Moringa Tea), by Application (Cosmetics and Skincare Products, Food and Beverage, Bakery and Confectionery, and Pharmaceutical Industry) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/moringa-market/184
Asia Pacific is estimated to be the largest exporter of the moringa products as it is widely cultivated in this region. This growth is attributed to factors such as improved agricultural approaches and methods as it is widely cultivated for preparing ayurvedic medicines. Increasing awareness about the health benefits of moringa in diet and personal care are also driving the market growth.
Some prominent players in the moringa market include Healing Moringa Tree TM, Green India (A Brand of R. K. Impex), Grenera, Genius Nature Herbs Private Limited, Holy Natural, Kuli Kuli, Inc., Naturesvelvet, Moringa Farms, Inc., Bio Moringa Oleifera GmbH, Ancient Greenfields PVT LTD., and others.
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