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.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold 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.