Maqui Berries Market 2024

The maqui berries market size has grown rapidly in recent years. It will grow from $22.18 billion in 2023 to $24.44 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth during the historic period can be attributed to several factors, including the increasing population, expansion of distribution networks, rising demand for clean-label products, support for immune health, and various consumer education initiatives.

The maqui berries market size is expected to see rapid growth in the next few years. It will grow to $36.21 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth during the forecast period is expected to be driven by factors such as the increasing popularity of functional foods, expansion in the functional beverage sector, the growing trend of vegan and vegetarian diets, a shift towards preventive healthcare practices, and rising investment in research and development. Key trends anticipated in this period include a heightened focus on anti-aging solutions, advancements in agricultural practices, innovations in food processing technologies, integration into gourmet cuisine, and incorporation into beauty and skincare products.

The rapidly expanding cosmetic industry is poised to significantly drive the growth of the maqui berries market in the coming years. This growth in the cosmetic sector is fueled by rising consumer demand for personal care products, increasing beauty consciousness, and advancements in product formulations. Maqui berries are gaining popularity in cosmetics due to their potent antioxidant properties, which help neutralize free radicals, reduce signs of aging, and enhance overall skin vitality. For example, a report from the International Trade Administration in July 2022 indicated that the Canadian cosmetics market generated approximately USD 1.24 billion in 2021, with projections of annual growth at 1.45%, expected to increase revenue to USD 1.8 billion by 2024. As a result, the robust growth of the cosmetic industry is positively impacting the maqui berries market.

Key players in the maqui berries market are focused on introducing innovative products, such as soft-gel capsules, to facilitate convenient consumption. Soft-gel capsules are an oral dosage form that encapsulates liquid or semi-liquid substances in a gelatin-based shell, commonly used for vitamins, supplements, and medications. For instance, in March 2023, NovaBay Pharmaceuticals Inc., a US-based pharmaceutical company, launched the OTC Avenova Eye Health Support oral supplement. This product is rich in antioxidants and combines MaquiBright maqui berry extract with high-quality omega-3 oils, designed to alleviate dry eyes and support overall eye health.

In July 2023, Evonik Industries AG, a Germany-based chemical manufacturing company, acquired Novachem for an undisclosed amount. This acquisition aims to enhance Evonik's portfolio of sustainable cosmetic active ingredients and strengthen its system solutions offerings. Novachem SRL, based in Italy, specializes in manufacturing personal care products that incorporate maqui berries.

Major companies operating in the maqui berries market are Evonik Industries AG, NOW FOODS PRIVATE LIMITED, Life Extension Foundation Buyers Club Inc., Mountain Rose Inc., Sunfood Corporation, Terrasoul Superfoods, Navitas LLC, Vitapia, CK Ingredients Inc., Bayas d el Sur SA, Seventhills Wholefoods Ltd, Paradise Herbs & Essentials Inc., Jeeva Organic Private Limited, HP Ingredients Corp., Keva Kaipo Industries Pvt Ltd, Rainforest Supply LLC, Vita Forte Inc., Food to Live, Noomadic Herbals, Koyah, Fitness Health, SB Organics, Vivid Health Nutrition, SouthAm Freeze Dry.

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.

The countries covered in the maqui berries market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Maqui berries are small, dark purple fruits produced by the maqui plant (Aristotelia chilensis), which belongs to the Elaeocarpaceae family. They are well-known for their high antioxidant content, particularly anthocyanins and polyphenols. These antioxidants are believed to provide various health benefits, including anti-inflammatory and anti-aging properties. As a result, maqui berries are commonly utilized in health supplements, juices, and a variety of dietary products due to their rich nutritional profile.

The primary types of maqui berries are classified as organic and conventional. Organic maqui berries are cultivated without synthetic chemicals, such as pesticides or fertilizers, ensuring that they are natural and eco-friendly. They are available in various forms, including fresh, processed, powder, extract, and dried. Distribution channels for maqui berries include both business-to-business (B2B) and business-to-consumer (B2C) models. End-use applications encompass food and beverages, nutraceuticals, personal care products, and others.

The maqui berries market research report is one of a series of new reports that provides maqui berries market statistics, including maqui berries industry global market size, regional shares, competitors with a maqui berries market share, detailed maqui berries market segments, market trends and opportunities, and any further data you may need to thrive in the maqui berries industry. This maqui berries market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The maqui berries market consists of sales of maqui berry capsules, maqui berry tablets, and maqui berry juice. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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