What Is The Scope Of The Global Goji Berries Market?
Goji berries, or wolfberries, are small red fruits from the Lycium barbarum and Lycium chinense plants and rich in antioxidants, vitamins, and minerals. They are often consumed dried or as juice and are renowned for their health benefits, including boosting the immune system and enhancing vision.
Goji Berries Global Market Report 2024 provides data on the global goji berries market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The goji berries market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Projections Can We Expect For The Size And Growth Rates Of The Global Goji Berries Market?
The goji berries market has grown strongly in recent years. It will rise from $1.47 billion in 2023 to $1.54 billion in 2024, with a CAGR of 5.0%. This growth is driven by the rise in vegan/vegetarian trends, celebrity endorsements, niche market expansion, and regulatory changes favoring superfoods. The market is expected to grow to $1.89 billion by 2028 at a CAGR of 5.1%. Growth drivers include demand for natural/organic products, increased cosmetic industry use, rising lifestyle disease rates, higher packaged food consumption, and functional food demand. Trends include product innovations, sustainable farming, R&D investments, organic preferences, and sustainable sourcing.
What Are The Core Factors Supporting Growth In The Goji Berries Market?
The rising consumer preference for natural and organic products is boosting the goji berries market. Consumers are increasingly drawn to sustainable, health-focused, and environmentally friendly options. Goji berries provide nutrient-rich, antioxidant-packed ingredients that complement the organic product sector. For instance, organic product sales in the United States reached $69.7 billion in 2023, up from $67.6 billion in 2022, as reported by the Organic Trade Association. This trend supports the growth of the goji berries market.
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What Are The Major Segments Within The Global Goji Berries Market?
The goji berries market covered in this report is segmented –
1) By Product Type: Fresh, Dried, Juice, Powdered, Frozen
2) By Distribution Channel: Supermarkets And Hypermarkets, Specialty Stores, Online Retail, Other Distribution Channels
3) By End-Use: Food And Beverage, Pharmaceuticals, Nutraceuticals, Personal Care And Cosmetics, Other End-Uses
Which Trends Are Expected To Transform The Goji Berries Market?
In the goji berry market, companies are introducing innovative products like goji berry drinks to cater to health-conscious consumers. These beverages combine the nutritional benefits of goji berries with refreshing flavors. In September 2022, U.S.-based Luxe Beauty and Wellness Group launched the Tipsy Goji Berry drink, blending health benefits with a mild buzz. This offering appeals to the functional foods trend, providing a guilt-free, nutritious beverage alternative.
What Is The Fastest Growing Region In The Goji Berries Market?
North America was the largest region in the goji berries market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the goji berries marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
