Report : Asia Pacific Moringa Ingredients Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Leaves and Leaf Powder, Seeds, Oil, and Others), Category (Organic, and Conventional), and Application (Food and Beverages, Personal Care, Pharmaceutical and Nutraceutical, and Others)
Conventional Segment to Dominate Asia Pacific Moringa Ingredients Market during 2021-2028
According to a new market research study on “Asia Pacific Moringa Ingredients Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Type, Category, Application and Country,” is expected to reach US$ 2,520.97 million by 2028 from US$ 1,574.83 million in 2021. The market is estimated to grow at a CAGR of 7.0% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific moringa ingredients market along with the drivers and restraints pertaining to the market growth. Spread of awareness about the health benefits of moringa-based products and incrementing usage of moringa ingredients in pharmaceuticals are major factors driving the growth of the Asia Pacific moringa ingredients market. However, availability of other plant-based substitutes may hinder the growth of Asia Pacific moringa ingredients market.
In Asia Pacific, India reported a huge number of COVID-19 cases, which led to the discontinuation of several business operations, including moringa ingredients production activities. The downfall of other food & beverages producing sectors has negatively impacted the demand for moringa ingredients during the early months of 2020. Most governments were forced to impose stringent lockdowns and limitations on movement and trade due to the outbreak. This impeded product production since various businesses, including cosmetics, were forced to close down production units. The disturbance in the supply chain also resulted in a scarcity of raw materials, which contributed to a drop in finished product output. However, the relaxation of restrictions on personnel movement and the removal of lockdown have led to the reopening of the moringa ingredients production projects, thereby raising the demand for moringa ingredients. A similar trend was witnessed in many Asia Pacific countries, such as Japan, China, and Australia. With the economic activities regaining their pace, the moringa ingredients market in the region is likely to make up for this loss in 2021.
The market for Asia Pacific moringa ingredients market is segmented into type, category, application and country. Based on type, the market is segmented into leaves and leaf powder, oils, seeds, and others. The oil segment is expected to be the fastest growing segment over the forecast period. Based on category, the Asia Pacific moringa ingredients market is classified into organic and conventional. In 2020, the conventional segment held the largest share in Asia Pacific moringa ingredients market. Based on application, the Asia Pacific moringa ingredients market is divided into food and beverages, personal care, pharmaceuticals and nutraceuticals, and others. The pharmaceuticals and nutraceuticals segment is expected to be the fastest growing segment over the forecast period. Based on country, the Asia Pacific moringa ingredients market is divided into Australia, China, India, Japan, South Korea and rest of Asia Pacific. In 2020, India held the largest share in Asia Pacific moringa ingredients market. Furthermore, in this present scenario of COVID 19 pandemic, the Asia Pacific moringa ingredients market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Asia Pacific countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for moringa ingredients.
Dominate Industries, Moringa Initiative Ltd., Green Era Foods & Nutraceutics, All Herbscare, Sarvaayush Ayurved & Herbals, Earth Expo Company, Saipro Biotech Private Ltd., ConnOils LLC, Santan International and Herbs & Crops Overseas are some of the leading companies in the Asia Pacific moringa ingredients market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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