Maca powder is the extract of the maca plant root. Maca plant grows particularly in high altitudes and is native to the Andes, Peru. The plant has a strong traditional usage in Latin America and is well known for enhancing fertility and as an aphrodisiac.
Market Dynamics of Maca Powder Market
Maca plants exotic status, beneficial functional properties and high traditional usage result in the plant being referred to as a superfood. Similar to other superfoods that have come from the Latin American region, the maca root and its derived products are expected to witness growth and eventual stabilization. The natural and organic status of most maca plants is also a major factor driving the market.
The market for maca powder is centered on its claim in controlling infertility. Infertility is a crucial issue across the world. As per the CDC data, about 7.5 million women between the ages of 15 and 44 in the U.S. suffer from impaired fecundity. This figure amounts to over 12.3% of the women belonging to that age group. The rise in consumption of products, especially natural-based products, have been on a rise due to the increasing prevalence of infertility issues.
The maca powder market faces several restraints in the form of low awareness and availability, high price, lack of strong scientific evidence and severe competition. Despite its uniqueness, the maca powders compete with several other natural fertility solutions. The relatively high price of the products also hinders the market in developing regions.
Market Segmentation of Maca Powder Market
The maca powder market is segmented on the basis of type, color and application.
On the basis of type, the market is differentiated into raw/regular maca powder and gelatinized maca powder. The gelatinized maca powder is heat treated in order to remove all starch content from the root and also helps in concentrating the powder. The removal of starch helps in the case of consumers with starch sensitivity and aids in digestion. The drawback of the gelatinized version is that the heat treatment kills all the enzymes and alters the nutrient profile of the maca root.
On the basis of color, the market is differentiated into black, red and yellow segments. The yellow maca powder is the dominant segment with an estimated market share of 60%. The yellow maca powder is well suited for enhancing female fertility. Red and black maca powders are considered rare and are used in products that claim to protect against cancer, strengthen the bone structure, increase memory and reduce stress and fatigue.
On the basis of application, the market is segmented into pharmaceutical, therapeutic, nutritional powders, bakery products, beverages and others. The several functional properties of maca powder help in increasing its role as a therapeutic and medicinal solution. The use of maca powder as a nutritional powder is particularly high and is expected to witness maximum growth in the coming years.
Regional Outlook of Maca Powder Market
The maca powder market in North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and MEA is covered in the report.
Latin America is a major dominant region in the market due to a historically high consumption and relatively easy availability. The Asia Pacific region occupies a minor market share due to low product awareness and high costs. North America and Europe are important markets and major importers of the products. The demand for the product is closely tied to the increasing health consciousness and willingness of consumers to spend more on high quality and exotic products.
Key Market Players in Maca Powder Market
Some of the key players of the maca powder market include Cosmic Nutracos Solutions Private Limited (GAIA), The MacaTeam, LLC., The Organique Co., Feel Good Organics, etc.