Maqui Berry Market: Introduction
A recent study published by Transparency Market Research on the maqui berry market includes global industry analysis and opportunity assessment for 2020-2030. The revenue generated from the global maqui berry market was valued at ~US$ 864 Mn in 2020, which is estimated to rise at a CAGR of 9.5%, to cross US$ 2.1 Bn by 2030.
Rising Global Demand for Functional Foods to Drive Market
The functional beverages industry continues to grow annually at a growth rate of ~9% during the forecast period. Moreover, it is expected that sports, nutritional, and protein drink sales will increase at an accelerated rate during the forecast period. With increased focus toward health and wellness, beverage ingredients play a vital role. Maqui berry beverages are gaining traction in the market, as consumers are preferring nutritional drinks, which are rich in nutrition value without added sugars or other artificial ingredients. Consumers also incline toward beverages that deliver more than just refreshment. Furthermore, there is a lot of innovation in the healthy beverage space with new product launches focused on functional and value added drinks.
e-Commerce Increasing Transparency and Product Penetration
Increasing sales through e-Commerce websites have led to product penetration in the global maqui berry market. Conventional shopping ways are also being used to purchase maqui berries, but factors such as busy life schedules, demand for convenient food products, and ease of purchasing are leading to an increase in online sales. Through e-Commerce websites, consumers have the choice of a wide range of products, and there is also an ease in selecting the best products. Apart from these factors, increasing use of the Internet is also expected to contribute to the increasing demand for maqui berries during the forecast period.
Increased Demand for RTD/RTE to Fuel Market Growth
Ready-to-eat (RTE) food and ready-to-drink (RTD) beverages sector has been experiencing robust growth due to increasing acceptance by consumers globally. Flavoring for food and beverages and nutritional benefits of exotic fruits are the most appealing and influencing factors, which lead to increased demand for RTE and RTD products worldwide. Consequently, rising demand for RTE and RTD has a direct effect on increasing demand for maqui berries in the global market.
Environmental Changes Affecting Maqui Berry Production— Big Challenge for Market Players
The challenging environmental conditions are pushing food supply toward negative growth, which is widening demand-supply gap and creating issues in the food safety program of various countries. In 2016, frost in Europe and Latin America destroyed a significant portion of crop in Germany, Austria, Croatia, and Slovenia. Severe climatic conditions such as excessive rainfall, extreme hot and cold weather, limited rainfall, and others affect the maqui berry production. However, due to its higher nutritional value, the fruit has caught attention of international consumers assuring a consistent demand even at high price.
Global Maqui Berry Market Segmentation
Maqui Berry Market by Nature
Maqui Berry Market by Form
Maqui Berry Market by End Use
- Food & Beverages
- Dairy Products
- Jams & Jellies
- Functional Foods
- Personal Care
Maqui Berry Market by Distribution Channel
- Store-based Retail
- Specialty Store
- Convenience Store
- Online Retail
- Store-based Retail
Maqui Berry Market by Region
- North America
- Rest of Europe
- South Korea
- Rest of APEJ
- Latin America
- Rest of LATAM
- New Zealand
- GCC Countries
- South Africa
- Rest of MEA
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