The global maqui berry market is evaluated at US$28.172 million for the year 2019 growing at a CAGR of 35.45% reaching the market size of US$173.998 million by the year 2025. Maqui Berry Market will grow at a significant rate according to the data published. This is relatively a novel industry that is gaining wider and substantial prominence. Maqui Berry belongs to the Elaeocarpaceae family and is dark and exotic fruit. It is also known as ‘Aristotelia chilensis.’ Maqui Berry flowers at the end of spring. The flowers are generally small and unisexual, and the leaves are oval in shape and have a dark color. It is a native fruit to Chile and Argentina and is grown in Chilean Rainforests and in the nearby border jungles of Argentina. Maqui Berries are becoming widely popular because of their health benefits. The industry is also facing significant challenges due to improper collecting methods and a lack of infrastructure in the harvesting locations. Despite that, the market is registering substantial growth.
Maqui Berry is known for its wider health applications. It has a high antioxidant content, and it reduces inflammation.
- Maqui berry is filled with antioxidants which helps in the stabilization of free radicals, preventing cell damage and its repercussions. Maqui berries have 3 times higher antioxidant content than strawberries, blackberries, and blueberries. It also helps in the reduction of chronic diseases, for instance, heart diseases, cancer, and diabetes.
- Maqui berries are also known for their anti-inflammatory effects according to clinical and test-tube studies. It helps prevent conditions and diseases related to inflammation, such as heart diseases, arthritis, and lung diseases.
- Due to the medical trials and research in pre-diabetic patients, it is found that the maqui berry reduces blood sugar levels.
- Eyes are exposed to excessive light. It causes substantial damage to the eyes. Because of the higher antioxidant content in berries, it helps protect against the damage by excessive light. It also prevents damage caused by ultraviolet rays.
- It also helps in increasing the growth of good bacteria that is beneficial for the immune system and the intestines.
Increase in Demand
- The food and Beverage industries are investing a substantial amount of capital into the research and development of Maqui Berry products. It is blended in juices, cereals, and yogurts that help in the improvement of the immune system of an individual. Companies are increasing and improving their portfolios with the introduction of berry juices and powdered products. Manufacturers are generating substantial revenues with their production of fresh maqui berries. There is a significant demand for fresh organic berry juices. It is free from preservatives, additives and extra sugar and is generating a substantial demand among millennials. Advanced filtration method is used to decrease the natural water content of maqui berries. There has been a substantial demand in the fresh maqui berry wine. There has been a study that the berry wine improves the strength and stamina of a body.
- Pharmaceutical companies are investing a substantial sum of capital into the Maqui Berry products and applications. The companies are studying the use of berry supplements in the health sector. Berry provides anti-aging and anti-diabetics applications. Due to the coronary pandemic, consumers are preferring healthier and nutritious products to improve their immune systems. Manufacturers are improving their standards and there are substantial berry-related patents issued over the last few years for the development of quality products. Companies have also focused on berry products that are related to dry-eye issues. Therapeutic products with berry extracts deliver better tear fluid generation.
Organic and Fresh Berry are gaining traction
- On the basis of nature, the Marqui berry market has been classified into Organic and conventional products. Organic fresh berry products have a significant share in the market. It is generating substantial revenue as compared to conventional and inorganic products. Organic berry products are good for health as the products do not include preservatives and generate a significant among consumers. Organic products are expected to grow at a significant rate in the coming years.
- On the basis of form, Marqui Market has been classified into fresh and processed. The fresh segment has a significant market share and is expected to grow over a period of time. The reason for the demand is because it is good for health and helps in the enhancement of the immune system of a body. But, the processed segment holds the majority of the share in the market. The processed powder is also generating a considerable demand because it is used to make smoothies and it blends with dairy products easily.
By Distribution Channel Analysis
Berries are collected each year from the month of December to March by the local farmers and families. The mechanical process is required in the separation of berries and leaves. They are sold to the local market at a specific price range. The distribution channel is classified between B2B, B2C, and Online Retailing. B2B holds the majority of the share in the market but the B2C segment is expected to surpass the B2B segment in the coming years. Online retail will also hold a substantial share in the market because of consumer awareness, better technology. Private and Government incentives will also have a significant role in the enhancement of online retailing. Government and private companies are introducing a novel online market where a small farmer can register with the portal. The customer will be allowed to purchase directly from the farmer or a manufacturer. With the introduction of novel laws to improve the quality and the trade in every region around the world, there will be significant growth in the Maqui Berry Market. There will be a formalization of trade which will help in analyzing better output and data.
Latin America holds the majority of the share in the market followed by Europe and North America. Brazil has registered significant growth in the South America region. Chile is the major producer and exporter of Maqui Berry. The USA is the major importer of Berry. North America will register substantial growth in the coming years and will have a considerable market share. The reason is due to the increase in dietary and healthier supplements and with a substantial income of consumers. There has been a surge in the demand for berry products in Europe. Asia-Pacific region will have a significant growth in terms of CAGR due to the surge in the demand for cosmetic products.
Major global players are improving their portfolio by manufacturing and producing healthier products. Companies are investing substantial capital in organic products to target consumers. There has been researching and developing on dietary supplements to target health-conscious and fitness enthusiast consumers.
- Companies and various research organizations are investing significant capital in the development of berry seeds to process oil. Maqui Berry oil has various health benefits, and it is healthier for the skin. It prevents tanning, paging, and pigment disorders.
- There has been a surge in the demand for frozen berry products. It takes a couple of weeks to transport fresh produce into the market. Due to that, fruits start to lose their relevance. Frozen foods will help prevent that.
Some of the major players operating in the berry market are Sunfood Superfoods, Navitas Organics, Maqui New Life S.A., Sevenhills Wholefoods, Bayas del Sur SA, SouthAm Freeze Dry, Neorganika, ARAUCO NUTRIENTES NATURALES, Terrasoul Superfoods, HP Ingredients, and others. These major players have a higher presence in the development of novel products, collaborations. These companies are investing significant capital in the innovations, partnership with the local players to increase their market share.
- By Industry
- Food and Beverage
- By Distribution Channel
- Convenience Stores
- By geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- Asia Pacific
Frequently Asked Questions (FAQs)
Q1. What will be the maqui berry market size by 2025?
A1. The global maqui berry market is projected to reach a market size of US$173.998 million by 2025.
Q2. What is the size of global maqui berry market?
A2. Maqui Berry market was valued at US$28.172 million in 2019.
Q3. What are the growth prospects for maqui berry market?
A3. The maqui berry market is projected to grow at a CAGR of 35.45% over the forecast period.
Q4. Which region holds the largest market share in the maqui berry market?
A4. Latin America holds the majority of the share in the maqui berry market followed by Europe and North America.
Q5. What factors are anticipated to drive the maqui berry market growth?
A5. Maqui Berries are becoming widely popular because of their health benefits.