What Is The Definition Of The Global Maqui Berries Market?
Maqui berries are small, dark purple berries produced by the maqui plant (Aristotelia chilensis), which belongs to the Elaeocarpaceae family. They are renowned for their high antioxidant content, particularly anthocyanins and polyphenols. These antioxidants are believed to offer potential health benefits, including anti-inflammatory and anti-aging properties. Maqui berries are commonly used in health supplements, juices, and various dietary products due to their rich nutritional profile.
Maqui Berries Global Market Report 2024 provides data on the global maqui berries market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The maqui berries market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Maqui Berries Market Size Expected To Expand, And At What Annual Growth Rate?
The maqui berries market has grown rapidly, increasing from $22.18 billion in 2023 to $24.44 billion in 2024 at a CAGR of 10.2%. The growth in the historic period is attributed to the growing global population, the expansion of distribution networks, increased demand for clean-label products, and the support for immune health. The market is expected to continue its rapid growth, reaching $36.21 billion by 2028 at a CAGR of 10.3%. This growth is fueled by the increasing popularity of functional foods, the growth of functional beverages, the rise of vegan and vegetarian diets, a shift toward preventive healthcare, and growing investment in research and development. Major trends include a focus on anti-aging solutions, advancements in agricultural practices, innovations in food processing, integration into gourmet cuisine, and its use in beauty and skincare products.
What Are The Key Drivers Fueling Growth In The Maqui Berries Market?
The rapidly expanding cosmetic industry is expected to drive the growth of the maqui berries market. The growth of the cosmetic industry is fueled by increasing demand for personal care products, rising beauty consciousness, and advancements in product formulations. Maqui berries, known for their potent antioxidant properties, are incorporated into cosmetics to reduce aging signs and improve skin vitality. The Canadian cosmetics market, valued at USD 1.24 billion in 2021, is expected to reach USD 1.8 billion by 2024. The growing cosmetic industry is driving the maqui berries market.
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What Are The Principal Market Segments In The Global Maqui Berries Market?
The maqui berries market covered in this report is segmented –
1) By Nature: Organic, Conventional
2) By Form: Fresh, Processed, Powder, Extract, Dried
3) By Distribution Channel: Business To Business (B2B), Business To Consumer (B2C)
4) By End-Use: Food And Beverages, Nutraceuticals, Personal Care, Other End-Uses
Which Emerging Market Trends Are Altering The Maqui Berries Sector?
Companies in the maqui berries market are emphasizing innovative product offerings, such as soft-gel capsules, for convenient consumption. These capsules, commonly used for vitamins and supplements, encase liquid or semi-liquid substances in a gelatin-based shell. In March 2023, NovaBay Pharmaceuticals Inc., a US-based pharmaceutical firm, introduced OTC Avenova Eye Health Support, an antioxidant-rich supplement containing MaquiBright maqui berry extract and omega-3 oils. This product supports overall eye health and alleviates dry eye symptoms, reflecting the industry's commitment to user-friendly health solutions.
What Is The Leading Region In The Maqui Berries Market?
North America was the largest region in the maqui berries market in 2023. The regions covered in the maqui berries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
