Maqui Berry Market
Maqui Berry Market (Nature: Organic and Conventional; Form: Fresh and Processed [Powder, Extract, and Dried]; End Use: Food & Beverages [Food and Beverages], Nutraceuticals, and Personal Care; and Distribution Channel: B2B and B2C [Store-based Retail and Online Retail]) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
- Food & Beverages
- 323 Pages
Maqui Berry Products Gain Popularity amidst Demand Shortage During COVID-19 Pandemic
Maqui berries are a natural source of antiviral agents. Companies in the maqui berry market are capitalizing on the demand for antiviral and immune-boosting fruits, such as chokeberry, maqui berry, and cranberry amidst the ongoing COVID-19 (coronavirus) pandemic. As such, maqui berry has a history of traditional medicinal properties that were known to ancient Latin American Indians. Blending of freeze-dried maqui berry powder in food products such as juices, yogurts, and cereals are boosting the immune systems of individuals.
Food processing companies in the maqui berry market are increasing their R&D efforts to study journal reviews that validate antiviral properties of maqui berries against viral infections. Maqui berry products are being highly publicized for delivering comprehensive protection against the virus. Manufacturers in the fresh fruit production business are facing a demand shortage, since people are more concerned about buying essential food items and cleaning products.
However, consumer goods and processed products derived from the maqui fruit experienced rise in sales due to the buying frenzy of consumers in the pre-lockdown stage of the pandemic. Moreover, the unemployment wave that came with the slow downfall of the economy led to the availability of a pool of workers for harvest and production of maqui berries.
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Maqui Berry: Next Superfood?
The growing maqui berry market is generating job opportunities for vulnerable fruit collectors. Moreover, this fruit business is supporting the health of consumers while protecting native forests. Maqui berry is gaining increased popularity as Latin America’s next superfruit. Hence, manufacturers in the Latin America maqui berry market are increasing the availability of handpicked berries. As such, the market is projected to cross a value of US$ 2.1 Bn by the end of 2030.
The region of Patagonia in Latin America is being highlighted as one of the prime cultivators of maqui berries. High antioxidants content of maqui berries is being highly preferred in freeze-dried powder. Students at the University of Chile’s Institute for Nutrition and Food Technology (INTA) anticipate that the demand for maqui berries is expected to rise in Korea, North America, and Europe. Freeze-drying maqui berries is creating several processing advantages for manufacturers.
Wild Maqui Berries Being Used to Flavor Yogurts, Cereals, and Smoothies
The amazing health benefits of maqui berries are catching the attention of individuals. Their anti-ageing and anti-diabetic properties are being highly preferred by consumers. However, this fruit is prone to cause allergies and less-severe side effects in individuals. Hence, companies in the maqui berry market are creating awareness that if individuals are allergic to berries in general, then they must avoid consuming products with maqui berries.
Manufacturers in the maqui berry market are developing juices and powdered sachets of the berry. Newenmaqui— a company that develops and sells specialty health food products is increasing its product portfolio of juices and powdered sachets that can be used to flavor smoothies, cereal, and yogurts. Manufacturers are also tapping into revenue opportunities in fresh maqui berry production, since consumers are becoming increasingly aware about its antiviral and anti-carcinogenic effects.
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Functional Benefits of Maqui Berry Extracts Being Harnessed in Dietary Supplements
Apart from cereals and yogurts, companies in the maqui berry market are expanding into the pharmaceutical segment. FutureCeuticals— a developer and distributor of standardized nutraceutical, functional food, and cosmetic ingredients, is harnessing health benefits of maqui berries and acai in supplements. Nutraceuticals involving maqui berry extracts tend to act as powerhouses of antioxidant and improve digestion. Leading market players are increasing efforts to establish global supply chains in order to gain recognition in the market.
Moreover, manufacturers in the maqui berry market are strengthening their supply chains by sourcing berries from tropical and temperate regions of Latin America. They are boosting their production levels to manufacture organic and freeze-dried maqui berries that deliver exotic flavor and functional benefits in fruit powders.
Therapeutic Products with Tear Fluid Generation Properties Suit Dry Eye-diseased Individuals
An alarmingly high number of individuals in the U.S. and Europe are suffering from dry-eye related issues. Hence, companies in the maqui berry market are focusing on the needs of individuals with dry eye disease to manufacture products that support tear fluid production. For instance, MaquiBright® is gaining increased popularity for its tear production properties, and is clinically proven to decrease bothersome ocular discomforts in individuals. Such products are contributing to the robust growth of the maqui berry market, which is estimated to expand at a CAGR of 9.5% during the assessment period.
Manufacturers are increasing the availability for standardized, patented, and branded maqui berry extracts that can be used to develop several finished products. As such, maqui berry is known as the treasure of Patagonia and Chile.
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High Demand for Organic Berry Juices
Companies in the maqui berry market are opting for the USDA (U.S. Department of Agriculture)-certified fruits to manufacture juices and sachet powders. For instance, Bberri Juices are gaining increased popularity since these juices claim to be made from 100% organic and USDA-certified maqui berries. A high number of millennials and Gen Z population in the U.S. is opting for maqui berry juices that are free from preservatives, added sugar, or any additives. Office goers in the U.S. have triggered the demand for berry juices that instantly refresh and rejuvenate individuals, owing to their presence of essential nutrients.
Refined methodologies are being used to manufacture organic maqui berry juices. Manufacturers are adopting advanced filtration techniques to reduce the natural water content of berries. They are opting for colorful branding and packaging options such as the utilization of glass bottles to boost the uptake of their product.
Maqui berry is gaining popularity as a superfruit, which boosts immunity against COVID-19. Manufacturers in the maqui berry market are producing supplements that provide beneficial anthocyanidins called delphinidins to consumers. However, maqui berry is associated with allergic reactions in individuals. Hence, manufacturers should provide disclaimers on labels for berry-allergic individuals.
Therapeutic products involving maqui berry extracts that deliver healthy tear fluid generation are a game changer for dry eye disease patients. These products are emerging as a safe and comfortable substitute to artificial tears.
Maqui Berry Market: Overview
- The global maqui berry market’s value is estimated to be ~US$ 864 Mn in 2020, finds Transparency Market Research (TMR) in a recent study. According to the report, the market is expected to cross US$ 2.1 Bn by 2030, at a CAGR of 9.5% during the forecast period.
- Maqui berry possesses high levels of potent antioxidants demonstrating potential benefits in treating inflammation and maintaining cholesterol and blood sugar levels. The fruit’s nutritional value and medicinal properties have tempted growers and manufacturers to target end-use sectors such as beverages, dietary supplements, and nutraceuticals by strategizing and developing innovative products with the superfood—maqui berry. The maqui berries processing companies such as HP Ingredients and Neorganika have been aligning with several key regional distributors as well as suppliers in order to increase its customer base and simultaneously generating sales.
- Falling under the emerging category, the fruit exhibits an introductory phase in the PLC curve with more end-use manufacturers adopting the fruit in preparation of consumer food products. Consumer concerns regarding the origin of raw maqui berries has been a focal point to which consumers are willing to pay much more in order to obtain certified and organic products. Some of the manufacturers have responded to these challenges by enhancing the traceability of products, by coding the product and generating traceability to respective farms across the globe.
Maqui Berry: Market Frontrunners
- In terms of nature, the organic segment holds a dominant share of 87.9% in the year 2020 registering a CAGR of 9.4% for the forecast period of 2020-2030. The conventional segment is estimated to grow at a high CAGR of ~10% during the forecast period.
- The processed maqui berry accounted for 69.5% of the market based on form. It is also the fastest growing segment of the global maqui berry market in terms of form.
- Based on end use, food & beverages, nutraceuticals, and personal care are the main segments of the global maqui berry market. Among these, nutraceuticals segment holds ~46.7% market share in terms of market value.
- The B2C distribution channel segment is estimated to surpass the B2B distribution channel segment in terms of value in the year 2030
- Latin America holds the leading share of 29.7% of the global market, followed by Europe and North America with 21.5% and 17.5%, respectively. The rest of the world (ROW) accounts for the remaining market share.
Maqui Berry Market: Trends
- Manufacturers Exploring Potential of Using Maqui Berry Seed Oil in Cosmetics
Application of maqui berry in cosmetic products has been gaining traction over the past few years. Recently, manufacturers have started using maqui berry seed in the treatment of skin problems, which include aging, tanning, and pigment disorders. Furthermore, there are other potential uses in the areas of anti-aging, skin whitening, and pigmentation-reducing products. Berry species have already been used in a few cosmetic formulations, such as moisturizing and thickening agents. For instance, some company offers fruit oils, vegetable oils, and powdered extracts effective in health and beauty products. These botanical ingredients are commonly used in nutritional supplements, lip balms, shampoos, scalp treatments, toothpaste, bath salts, facial care such as eye crème, masks, serums, exfoliators, and toners, body care, body butter, massage oils, and sun protection.
- Increasing Demand for ‘All Natural’ Products
Growing consumers are increasingly inclining toward natural food products such as frozen fruits and IQF food items due to various health issues associated with artificial additives and ingredients in food processing. This is fueling demand for frozen super fruits, which also come in the form of IQF food items, as these do not contain any artificial ingredients or related products. A study by Dr. Gene Lester of the USDA Agricultural Research Center in Weslaco, Texas, concludes that produce selected for freezing is harvested when it is at its ripe stage than harvesting it earlier and allowed to ripen during the transport to the market. When ripe, vegetables and fruits provide the best and highest nutrition. Transportation of fresh produce from farm to market takes a couple of weeks during which, fruits tend to lose nutrients. Frozen produce remains nutritionally intact for up to a year.
Maqui Berry Market: Strategies
- Key players in the global maqui berry market are enhancing their services portfolio to gain customers by providing healthy, 100% organic and non-GMO certified foods
- Companies are targeting health conscious and fitness enthusiast consumers by providing health and dietary supplements
Target Region for Maqui Berry Market
- Maqui berry sorbets are in demand and gaining traction in the market. Sorbet is a frozen dessert made from sweetened water with flavoring from fruit pulp, fruit juice or liquor. Maqui berry sorbets are in demand in Latin America and North America. Currently, the market is witnessing an increasing demand for maqui berry sorbets from European countries and some Asian countries. Increasing marketing initiatives by players to expand their geographical presence have surged the demand for maqui berry sorbet across the globe.
Maqui Berry Market: Major Players
- Some of the key manufacturers operating in the maqui berry market, as profiled in the study are
- Sunfood Superfoods
- Navitas Organics
- Maqui New Life S.A.
- Sevenhills Wholefoods
- Bayas d el Sur SA
- SouthAm Freeze Dry
- ARAUCO NUTRIENTES NATURALES
- Terrasoul Superfoods
- HP Ingredients
Maqui Berry Market – Scope of the Report
Transparency Market Research (TMR) has recently published a study on the maqui berry market. It provides a detailed assessment of key market dynamics, including drivers, trends, opportunities & restraints, and detailed information about the maqui berry market structure. The market study presents exclusive information about how the maqui berry market will grow during the forecast period from 2020 to 2030.
Key indicators of market growth, which include year-on-year (Y-o-Y) growth of the market, value chain, supply chain analysis, and compounded annual growth rate (CAGR) have been elaborated in the study in a comprehensive manner. This information is intended to help readers understand the quantitative growth prospects of the maqui berry market during the forecast period.
The study is intended to offer a holistic market overview to stakeholders in the maqui berry market, including manufacturers, suppliers, distributors, and investors, and to help them develop winning growth strategies. Stakeholders in the maqui berry market, which include investors, industry experts, researchers, and journalists, and business researchers can leverage the information and data presented in the TMR’s study.
The study also includes statistics and facts related to the macro as well as microeconomic factors that are impacting the expansion of the market. It also offers actionable insights into the future trends in the maqui berry market. Furthermore, small businesses and new entrants in the maqui berry market can make use of the information presented in this study based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Questions Answered in TMR’s Maqui Berry Market Report
- Which region will continue to remain the most profitable regional market for maqui berry market players?
- Which factors will induce a change in the demand for maqui berry during the assessment period?
- How will the changing trends impact the maqui berry market?
- How can market players capitalize on low-hanging opportunities in the maqui berry market in developed regions?
- Which companies are leading the maqui berry market?
- What are the winning strategies of stakeholders in the maqui berry market to catapult their position at the forefront?
Maqui Berry Market – Research Methodology
In TMR’s study, a unique research methodology is used to conduct extensive research on the growth of the maqui berry market and identify future growth parameters. This research methodology is a combination of primary and secondary research to help analysts ensure the accuracy and reliability of conclusions.
Secondary sources referred to by analysts for compiling the maqui berry market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers who contributed to the development of this report as a primary source.
Information acquired from primary and secondary sources is compiled in a comprehensive manner. This also acts as a validation from companies in the maqui berry market, which makes TMR’s projections more accurate and reliable.
Maqui Berry Market – Segmentation
TMR’s study on the maqui berry market offers information divided into important segments — nature, form, end use, distribution channel, and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.