Maqui Berries Market Size & Share to Surpass USD 59.5 billion by 2031, Expanding at a CAGR of 10.7%: TMR Report
The increasing consumer awareness and increased demand for superfood is likely to drive the maqui berries market growth.
Wilmington, Delaware, United States, Sept. 15, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global maqui berries market is projected to flourish at a CAGR of 10.7% from 2022 to 2031. As per the report published by TMR, a valuation of US$ 59.5billion is anticipated for the market in 2031. As of 2023, the market for maqui berries is expected to close at US$ 26.3 billion.
Maqui berry extracts are used in the formulation of functional foods and beverages, such as smoothies, energy drinks, and supplements. The rapid growth in the food and beverage industries drives the market demand.
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The global maqui berries market is fragmented, with the presence of a small number of leading players. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global maqui berries market report:
- Sunfood Superfoods
- Navitas Organics
- Maqui New Life S.A.
- Sevenhills Wholefoods
- Bayas d el Sur SA
- SouthAm Freeze Dry
- ARAUCO NUTRIENTES NATURALES
- Terrasoul Superfoods
- HP Ingredients
- Kiva Health Food
Key Developments in Maqui Berries Market
- Maqui New Life S.A., a Chilean maqui berry supplier, had been expanding its cultivation and processing capabilities to meet increasing demand. They were also investing in organic farming practices.
- iHerb, an e-commerce platform specializing in health and wellness products, had been offering a wide range of maqui berry supplements, powders, and extracts from various brands. They had been promoting maqui berries as a superfood.
- Navitas Organics, known for its organic superfoods, had been offering maqui berry powder and promoting it as a source of antioxidants and phytonutrients.
- Bulk Supplements had been providing maqui berry extract powder in bulk quantities for use in dietary supplements and food products. They were catering to businesses looking for ingredients in bulk.
The application of maqui berries in cosmetic products has been gaining traction. Maqui berries are sometimes incorporated into skincare products due to their antioxidant properties, which can help protect the skin from premature aging and damage caused by free radicals.
Consumers are increasingly concerned about the sourcing of their food. Maqui berries grown using organic and sustainable farming practices are particularly appealing to environmentally conscious buyers.
The availability of maqui berry products through e-commerce platforms has made them accessible to consumers worldwide. This has boosted their market reach and export potential.
Maqui berries can be used in a variety of culinary applications, including jams, jellies, sauces, and desserts. Chefs and home cooks are experimenting with these berries in their recipes.
Key Takeaways from the Market Study
- As of 2022, the maqui berries market was valued at US$ 23.8 billion
- By form, the fresh segment enjoys high demand, accumulating a high revenue share during the forecast period.
- Based on nature, the conventional segment is anticipated to dominate the industry during the forecast period
- Based on end-user, the dietary supplement segment is expected to generate high revenue during the forecast period
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Maqui Berries Market: Key Trends and Opportunistic Frontiers
- The strong preference for including antioxidants in food products is escalating with the increasing demand from customers in the market. The global trend of consuming natural and healthy food ingredients is fueling the demand for superfoods in the market.
- The global availability of Maqui berry products through online retail and e-commerce platforms has allowed consumers from various regions to access these superfruits, further expanding the market’s reach
Maqui Berries Market- Regional Analysis
- North America accounts for a significant share of the maqui berries market owing to the demand for superfoods and health products is on the rise, contributing to the growth of Maqui berry imports. Maqui berries have gained popularity in the United States, driven by the growing demand for superfoods and natural antioxidants. Importers and distributors have been sourcing Maqui berry products for the North American market.
- In the Asian region, Japan has seen increasing interest in Maqui berries due to their potential health benefits and antioxidant properties. Japanese consumers have been incorporating Maqui berry products into their diets.
Maqui Berries Market
- Liquid Extract
- Powdered / Dried
Food & Beverages
- Dairy products
- Jams and Jellies
- Functional Foods
- Alcoholic beverage
- Non-Alcoholic Beverage
Personal Care & Cosmetics
By Distribution Channel
- Business to Business (B2B)
- Business to Consumer (B2C)
- Hypermarket / Supermarket
- Convenience store
- Specialty Stores
- Online Retail
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
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What is the CAGR for Maqui Berries Market?
Maqui Berries Market is estimated to rise at a CAGR of 21.2% during forecast period
Who are the key players in the Maqui Berries Market?
Some of the prominent companies active in the maqui berries market, such as Sunfood Superfoods, Navitas Organics, Maqui New Life S.A., Sevenhills Wholefoods, Bayas d el Sur SA, SouthAm Freeze Dry, Neorganika, Arauco Nutrientes Naturales, Terrasoul Superfoods, HP Ingredients, Kiva Health Food, and others
Which region is more attractive for vendors in the Maqui Berries Market?
Europe and APEJ are more attractive region for vendors in the Maqui Berries Market
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