Maca Extract Market size is expected to cross USD 90.64 Million by the end of 2035, growing at a CAGR of 4% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of maca extract was over USD 57.24 Million. The maca plant is also known as a superfood because of its peculiarity, beneficial properties, and high historical use. The maca root and the derived products are likely to grow in popularity as well as stabilize, just like other superfoods originating from Latin America.
The rising consumer knowledge of the health advantages of maca extract products is the main driver propelling the expansion of the maca extract market. Due to maca being used more often across a wide range of sectors, the maca extract market is expanding significantly. For example, it is taken by athletes, persons who perform strenuous labor, or students who are always under deadline pressure as an energy booster and stress reducer. A total of 59 million Americans buy vitamins, herbs, and supplements each year. About 4.1 million of those sales come from customers who are youngsters.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~ 4% |
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Base Year Market Size (2022) |
~ USD 57.24 Million |
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Forecast Year Market Size (2035) |
~ USD 90.64 Million |
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Regional Scope |
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Type (Raw/Regular Maca Powder, Gelatinized Maca Powder)
The gelatinized maca powder is anticipated to have the highest market share of 58% during the forecasted timeframe. Heat treatment of the gelatinized maca powder helps to concentrate the powder and removes all starch content from the root. In the event of customers with starch sensitivity, the elimination of starch helps the situation and facilitates digestion.
Application (Pharmaceutical, Therapeutic, Nutritional Powders, Bakery Products, Beverages)
The nutritional powders segment is poised to collect the highest revenue by the end of 2035. The usage of maca powder as a nutritious powder is particularly widespread and is predicted to skyrocket in the future years. Maca extract supplements are utilized in nutritional supplements to increase energy levels in the body. It’s supplements are utilized in nutritional supplements to increase energy levels in the body. They help mental health by, among other things, lowering stress and anxiety, enhancing memory retention and brain function, increasing focus, stabilizing mood swings, and fostering relaxation of the human mind-body system.
Our in-depth analysis of the global market includes the following segments:
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Latin American Market Forecast
Latin America is expected to garner the highest revenue with a 35% market share during the forecast period. Because of historically high consumption and relatively simple availability, Latin America is the leading area. Additionally, over the next years, the market in this sector is expected to be primarily influenced by demand for products linked to sexual wellness and reproductive health. Latin America will control a large portion of the maca extract market share in the anticipated timeframe due to its cultivation and well-developed healthcare system.
North America Market Statistics
The North America region is estimated to have a 28% market share during the forecast period. Customers' rising health consciousness and desire to spend more money on luxury and exotic goods are directly related to product demand. The tremendous development in both regions is ascribed to greater accessibility to maca and its derivative products, and growing knowledge of the advantages of maca extracts. The major factor influencing the market in the region is also the nature and organismic status of a significant number of Maca plants.
Author Credits: Anil Kumar, Ipsheeta Dash
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