Goji Powder Market Scope
Goji Powder is made from goji berries which are small red fruits said to have high antioxidants and other medicinal properties. This tiny red fruits are then dried and crushed into powder before mass selling them. Goji powder is available in black and red form with red form accounting for the largest market. Naturally Goji berries are sweet and slightly savoury in flavour. They are said to benefit eyes, slowdown aging, strengthen liver, kidney and even benefit patients to recover from cancer. Currently, North America is the biggest market of Goji Powder.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Unicorn Superfoods (Australia), KIKI Health Ltd. (United Kingdom), Organicway Inc. (China), Navitas Organics (United States), NutraValley Biotech Inc. (United States), Micro Ingredients (United States), Sb Organics Ltd. (India), Asiya Life (Thailand), Carrington Farms (United States) and Sunfood Superfoods (United States) |
CAGR | 4.1% |
Increasing Demand for Natural herb and ingredients has led to growth of Goji berry derived goji powder market. The growth is expected to accelerate with increasing awareness through aggressive e-commerce marketing of the product. Currently, North America is the biggest market of goji powder.
Unicorn Superfoods (Australia), KIKI Health Ltd. (United Kingdom), Organicway Inc. (China), Navitas Organics (United States), NutraValley Biotech Inc. (United States), Micro Ingredients (United States), Sb Organics Ltd. (India), Asiya Life (Thailand), Carrington Farms (United States) and Sunfood Superfoods (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Root Circle (United States), Eco-Taste (China) and Urban Platter (India).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Goji Powder market by Type , by Application (Health Products, Food Industry and Others) and Region with country level break-up.
On the basis of geography, the market of Goji Powder has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In November 2023, N&A GLOBAL CO., LTD., the parent company of the renowned Go! Go! Monster brand specializing in organic dried goji berries in Taiwan is expanding its reach with the official launch of the sub-brand Go! Go! Naliia. The inaugural product is a 15g on-the-go pack of goji berry snacks, marking the company's entry into the Asian market.
In June 2023, eLEAD Global launched a new product line called GOJIGARDEN, which includes Black Goji Berries combined with Osmanthus, Rose, or Yuzu.
Influencing Trend:
Red Goji Powder Accounts for the Largest Market
Market Growth Drivers:
Increasing Demand for Health Beneficial Ingredients and Herbs and Growth in Immune Boosting Supplements and Other Health Products
Challenges:
Unawareness about the Presence and Benefits of the Market
Restraints:
Counterfeit and Adulterated Products are Present in this Market
Opportunities:
E-Commerce Platforms Present an Opportunity for the Marketing and Increasing Presence of the Product
Key Target Audience
Goji Powder Manufacturers, Suppliers and Distributors, Raw Material Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms and End-Use Industries