Research Nester published a report titled “Maca Extract Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers a detailed overview of the maca extractmarket in terms of market segmentation by type, by color, by application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
The root vegetable known as maca is originated from the Peruvian Andes. Maca is reported to have an abundanceof health benefits. The maca extract is considered to be a unique superfood that boosts energy, improves stamina, enhances libido, and actsas an aphrodisiac. Being an aphrodisiac, it caters to huge demand from all over the world, particularly in the native regions of Latin America where it been consumed for many ages.
The maca extract market is anticipated to notice an attainable high CAGR during the forecast period, i.e., 2020-2028. The market is segmented by type, color, application, and region.
Among product colors, the yellow color segment is projected to dominate the market share over the forecast period owing to its female infertility solutions.Among applications, the nutritional segmented is projected to experience the dominance in the market as maca has numerous beneficial properties in this segment.
Regionally, the maca extractmarket is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
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Latin America is the most lucrative and dominant region of the world owing to its native association with maca origins and the huge consumption and demand among its civilians.
North America followed by Europe captures a decent amount of market share owing to the greater prevalence of health & nutritional supplements in the regions, better accessibility to maca extract, awareness among consumers, and increasing health concerns.
Consumers are progressively shifting their inclination from industrial-scale processed food to health-promoting food products, particularly natural and organic products.
The Asia-Pacific region is expected to grow at a slowpace as the awareness is quite low among the citizens. Although China cultivates its maca, still it’s a long way for maca extracts to penetrate this region.
Super-beneficial properties of Maca extract and its exotic status in the market is estimated to further boost its demand globally
Maca root extractsarea very prominent aphrodisiac and the market is mainly concentrated owing to its useful properties in the field of sexual wellness and reproductive health.Additionally, it is widely used to treat hot flushes, memory loss, stress, depression, and fertility.
Further, maca extract is also rich in vital minerals such as phosphorus, iodine, potassium, sodium, manganese, calcium, iron, and magnesium. Maca fuels the pituitary gland and the hypothalamus, which in turn, helps in rebalancing the testicular, ovarian & adrenal glands, the pancreas, and the thyroid.
Additionally, the natural and organic status of most of the maca plants is a significant driving force for the market as consumers are gradually inclining towards natural and organic dietary lifestyle practices.
However, the availability of cheaper substitutes, lower awareness rate in developing economies, and costly maca extract in the market might obstruct the overall market growth in the long run.
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This report also provides the existing competitive scenario of some of the key players of the maca extractmarket which includes company profiling of Inca Health, Merril Natura, PebaniInversiones S.A, StandPeru, Phyto Life Sciences P. Ltd., Shaanxi JiahePhytochem Co., Ltd, The Maca Team, LLC, Peruvian Nature, Symphony Natural Health (NASDAQ: NHTC), Koken del Perú S.R.L. (TYO: 7963). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the maca extractmarket that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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