Global Goji Berry Market: Snapshot

Goji berries typically resemble shriveled red berries and have been used as medicine in Tibet for thousands of years. Their use have been driven by a number of supposedly observed health benefits. They have been considered to bolster the functioning of immune system, improve brain activity, and prevent aging. Containing different types of vitamins and a variety of amino acids, goji berries are said to have amazing antioxidant properties. Their use in China was motivated by its alleged efficacy in protecting against various cardiovascular diseases and preventing the risk of cancer. Hence they formed a part of the healthy lifestyle regime in China for long.                                   

However, the worldwide adoption of goji berries has been limited so far due to the lack of any reliable medical evidence. This can be attributed to the paucity of researches in investigating their efficacy in a large set of populations. Furthermore, the results of some of the studies have been largely inconclusive. Several studies used purified extract of goji berries, hence there is limited significance of these in validating the claims of their medicinal effects. In addition, the high cost of such products is a key aspect hindering their demand. Nonetheless, in recent years, their use have gained some popularity in the foods and beverages industry to impart taste and flavor, along with providing useful proteins, vitamins, and anti-oxidants. Further researches are being made to validate the health claims so that they can be included in daily diet as superfood in the coming years.

Goji berry, also known as wolf berry is native to China and is used as a medicine from thousand years, which is small in size and possess a bright red color when dried. Goji berry is whole dried berry whose flavor is increased by the drying process as they are dried whole and not by extracting the juice. Goji berry is very similar to raisins which are naturally sweet with a very slight herb taste later. It also contains small seeds which contain fiber which adds texture to meals. Goji berry grows on an evergreen shrub in subtropical regions because of soil and temperature. Goji berry is an excellent source of Vitamin C and also contain vitamin K, vitamin B1, and vitamin B2, iron, and also helps in curing harsh cold symptoms which are also low in calories, fat-free and packed with fiber. Goji berries contain all the eight amino acids. It has been analyzed that a single 4 ounce serving of goji berries provides nearly 10% of daily protein value. In the family of fruits, goji berries contain surprising amount of protein.  The carbohydrates in goji berries are also complex carbs. This means that the blood sugar will raise slowly, reducing risk of a sugar crash afterwards. Goji berry is eaten raw, dried form like raisins, cooked and also used in herbal teas, medicines, and wines.

Goji berry is an excellent source of antioxidants because of their ORAC (Oxygen radical absorbance capacity) value, especially carotenoids such as zeaxanthin and beta-carotene (pigment found in plants & fruits). Goji berry protects the liver and improves the sexual function and fertility.

Goji Berry: Market Segmentation

Goji berry market can be segmented by applications, form, and by regions. Based on application, goji berry is segmented into food & beverages, personal care/ cosmetics, pharmaceuticals, dietary supplements and others. In China, goji berry is used in medicines for thousands of years which have a natural remedy for fever, malaria, hypertension, high blood pressure and age-related problems. Goji berry consists of beta-carotene which helps in promoting eyesight, healthy skin and boosting the immune system. The antioxidants which are present in goji berry helps in protecting skin.

By form type, goji berry market is segmented into pulp, juice, and powder. 

Based upon distribution channel, goji berry market is segmented into supermarkets/hypermarkets, convenience stores, specialist stores, and retailers. Supermarket/ hypermarket is expected to hold high share in the goji berry market. Expansion of retail chain format on a global level has contributed significantly to the growth of supermarket/hypermarket over the forecast period.

Goji Berry Market: Regional Outlook

By geography, the market is segmented into seven different regions: North America, Latin America, and Eastern Europe, Western Europe, and Asia-Pacific region, Japan and the Middle East and Africa. In regional segments, Asia-Pacific is anticipated to witness relatively high growth followed by Western Europe region market owing to the rising health consciousness consumers and increasing disposable income in the region.

Goji Berry Market: Growth Drivers

Goji berry market is anticipated to witness constant growth over the forecast period. Growth of goji berry market is driven by its applications in the food & beverage industry. Due to the growing health disorders, Consumers preference is changing towards healthy fruits, beverages and vegetables. As consumers are becoming aware about the various benefits of goji berry, market for goji berry is growing with a significant pace. Goji berry have high antioxidant properties which supports weight loss and goof for health. Goji berry contains of natural ingredients with various health benefits which contributes significantly volume growth over the forecast period.

Goji Berry Market: Players

Some of the key players in the Goji berry market include Shaanxi Zsky Biomedical Co. Ltd., Bata foods, Gojix LTD, ULstar trading natural products, Goji Berry Hungary and others. Companies in the goji berry market are significantly investing in various activities like research and development to enhance the functional profile of goji berry. Companies also focus upon building efficient supply chain to ensure wide availability of goji berry in the market.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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