Maqui Berries Surge to Prominence on Global Market, Expected to Reach $24.44 Billion by 2024
Maqui Berries Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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In the thriving global food industry, Maqui Berries are carving out a sizable market share and forecasting substantial growth. The maqui berries market size has expanded from a considerable $22.18 billion in 2023 to a predicted $24.44 billion in 2024, marking a promising compound annual growth rate CAGR of 10.2%. This substantial growth in the historic period is attributed to global population increase, extension of distribution networks, rising demand for clean-label products, interest in immune health support, and successful consumer education initiatives.
What Factors Will Influence the Future Growth Rate and Market Size of Maqui Berries?
The maqui berries market is predicted to continue this trend of rapid expansion in the coming years. Expected to swell to a sizeable $36.21 billion by 2028, the market anticipates a stable compound annual growth rate CAGR of 10.3%. This growth will be fueled by the increasing desirability of functional foods, expansion of functional beverage sector, an escalated trend of vegan and vegetarian diets, shift towards preventive healthcare practices, and increased investment in research and development. Furthermore, a rising 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 will likely aid in driving market expansion.
Examine the Market Data for Maqui Berries and its Expected Growth: https://www.thebusinessresearchcompany.com/sample.aspx?id=19110&type=smp
What Strengthens the Market Growth of Maqui Berries?
The key growth driver for Maqui Berries stems from the upsurge of the cosmetic industry. With a strong emphasis on the development, production, and marketing of beauty and personal care products, the steady rise of the cosmetic industry is directly influencing the growth of the Maqui Berries market. The berries have been embraced for their potent antioxidant properties, aiding in neutralizing free radicals, reducing signs of aging, and enhancing overall skin vitality. For instance, in July 2022, a report documented that the Canadian cosmetics market generated around USD 1.24 billion in 2021, with an anticipated annual growth rate of 1.45%, expected to elevate revenue to USD 1.8 billion by 2024. As the cosmetics industry continues to flourish, the growth of Maqui Berries market rides in tandem.
Don’t miss out on the detailed analysis on the growth of Maqui Berries: https://www.thebusinessresearchcompany.com/report/maqui-berries-global-market-report
What Are The Key Trends In The Maqui Berries Market?
Major companies operating within the Maqui Berries market are concentrating on introducing innovative products such as soft-gel capsules for convenient consumption. For instance, in March 2023, NovaBay Pharmaceuticals Inc., launched the OTC Avenova Eye Health Support oral supplement. The product, rich in antioxidants, combines MaquiBright maqui berry extract and high-quality omega-3 oils to alleviate dry eyes and support overall eye health.
How Is The Global Maqui Berries Market Segmented?
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
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