Consumer Goods & Food

Maca Extract Market Segmentation By Type (Raw/Regular Maca Powder and Gelatinized Maca Powder); By Color (Black, Red, and Yellow); By Application (Pharmaceutical, Therapeutic, Nutritional Powders, Bakery Products, Beverages, and Others) - Global Demand Analysis & Opportunity Outlook 2028

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Report ID: 2729 | Published On: Feb 01, 2022

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • October 31, 2019: JIAHERB, one of the largest NSF-GMP certified herbal extract industrialists from China, founded in the year 2000, was recognized by the United States Pharmacopeial Convention (USP) with the Donor Recognition honor for their partaking in USP's standard-setting activities in 2018 and 2019. JIAHERB's input added noteworthy public benefit to the USP mission, which is to advance global health through public standards and associated programs that help certify quality, security, and benefit of medicines and foods.


Maca Extract Market Overview

While extracting from the Maca plant root, we get the Maca powder, which is native to the Andes, Peru, and grows particularly in high altitudes. The plant has a robust traditional utilization in Latin America and is famous for enhancing fertility and as an aphrodisiac.

The latest research exhibit that the logical capability of maca covers improving fertility, improving sexual performance, anti-proliferative utilities, improving growth rate, preventing osteoporosis, relieving menopausal syndrome, and ability in vitality & stress tolerance.

This gives a boost to the maca extract market which is flourishing on account of the growing need around the world for these nutritional supplements in their dietary lifestyle.


Market Size and Forecast

The maca extract market is expected to observe an attainable high CAGR during the forecast period, i.e., 2020-2028. The market is segmented by type, color, application, and region. Among colors, the yellow color segment is expected to enjoy the market dominance in the forecast period as it is well suited for enhancing female fertility. Red and black maca extracts are considered rare and are consumed in products that claim to defend against cancer, reinforce the bone structure, increase the memory power, and decrease stress and fatigue.

Based on its applications, several useful properties of maca extracts assist in increasing its role as a therapeutic and medicinal solution. The use of maca extract in the nutritional segment is significantly high and is projected to witness maximum growth in the approaching years.

Maca Extract Market Graph


Growth Drivers

Attributes that make maca a superfood

Maca plants exotic prominence in the market, the valuable functional properties and high traditional utilization has resulted in the plant being referred to as a superfood. Like the other superfoods that have come from the Latin American region, the maca root and its derivative products are anticipated to observe substantial growth and eventual stabilization during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT

The market for maca extract is majorly centered on its assertion in controlling infertility. According to WHO, Infertility is a global public health issue. The rise in consumption of products, especially natural-based products, has been on a rise due to the increasing prevalence of infertility issues.

Trending shift towards natural & organic consumption

The robust inclination of individuals towards natural dietary patterns that have established deep roots in the developed markets of the western nations is one of the key contributors towards the growth of the maca extract market.

The rise in the consumption of natural-based products has also been propelled by the increasing prevalence of infertility and impaired fecundity issues.

Additionally, rising distress concerning sexual wellness reproductive health among individuals, an increase in per capita consumption in emergent economies, and growing awareness on social platforms related to the benefits of natural & organic products have led to the increased prominence of the maca extract offered in the market.


Maca Extract Market Graph
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Restraints

Several restraints such as low awareness regarding maca and its availability, a high price in the market, a lack of strong scientific evidence, and severe competition in the market, might hinder the market’s growth. Despite its individuality, the maca extracts compete with numerous other natural fertility solutions which are relatively cheaper, and this is also hampering the market in developing regions.


Market Segmentation

Our in-depth analysis of the maca extract market includes the following segments:

By Type

  • Raw/Regular Maca Powder
  • Gelatinized Maca Powder

By Color

  • Black
  • Red
  • Yellow

By Application

  • Pharmaceutical
  • Therapeutic
  • Nutritional Powders
  • Bakery Products
  • Beverages
  • Others

By Region

Geographically, the maca extract market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.

The Latin American market is the major dominant region owing to historically high consumption and pretty easy availability.

North America registered the second largest consumption after Latin America. North American regions followed by Europe are expected to observe substantial growth opportunities during the forecast period. The significant growth in both regions is attributed to rising awareness related to the health benefits of maca extracts, the popularity of health and nutritional supplements, and higher accessibility to maca and its derivative products.

The Asia-Pacific is estimated to grow at a relatively slower pace led by China as they mainly cultivate maca in the Yunnan region. Impelling demand for sexual wellness and reproductive health products is expected to be the main element driving the market in this region in the foreseeable future.

The maca extract market is further classified based on region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • the Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis


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