The maqui berries market is expected to grow from US$ 33.76 million in 2022 to US$ 83.70 million by 2030; it is expected to register a CAGR of 12.0% from 2022 to 2030.
Market Insights and Analyst View:
The emerging trend of clean-label and organic products in functional food and beverages, cosmetics, nutritional supplements, and personal care has constructed lucrative opportunities for key industry participants. Maqui berries have also boosted growth in the personal care industry, with companies substituting acai berries and other exotic extracts as an ingredient in their products with antioxidant maqui berries, displaying exceptional anti-aging properties. The increasing popularity and expansion of e-commerce allow key players to offer products online at reasonable prices. Consumers are becoming conscious of the health benefits of maqui berries, which drive the demand for maqui berries-based products. All factors further surge the demand for maqui berries.
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Maqui Berries Market: Strategic Insights
Market Size Value in US$ 33.76 million in 2022 Market Size Value by US$ 83.70 million by 2030 Growth rate CAGR of 12.0% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Maqui Berries Market: Strategic Insights
| Market Size Value in | US$ 33.76 million in 2022 |
| Market Size Value by | US$ 83.70 million by 2030 |
| Growth rate | CAGR of 12.0% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Growth Drivers and Challenges:
Over the past few years, the prevalence of diabetes has increased significantly due to lack of physical activity, rising consumption of junk food, increasing prevalence of obesity, and stressful lifestyle of consumers. According to National Diabetes Statistics Report 2022, 37.3 million people in the US had diabetes in 2022, which accounts for 11.3% of the total US population. Diabetes can lead to serious health conditions such as heart attack and stroke, vision loss, and kidney diseases, if not treated and controlled early. Many treatments and medications have been discovered for diabetes. However, scientists are still working to find natural remedies with high efficiency to cure diabetes and regulate blood sugar level. Maqui berries are rich in anthocyanins, polyphenols, and delphinidin that help neutralize free radicals, boost immunity, prevent cancer, and reduce excessive blood sugar. Maqui berries are the richest sources of anthocyanins with 25% of cyanidins and 75% of delphinidin composition. They comprise the highest delphinidin content among all the berries.
Delphinidin Content of “Superfruit” Berries
Sr No | Superfruit(Common Name/Botanical Name) | Delphinidin Content(in mg /100 g of raw fruit) |
1 | Maqui Berry/Aristotelia chilensis | 126,00 |
2 | Bilberry/Vaccinium myrtillus | 97.59 |
3 | Concord Grape/Vitis vinifera | 70.62 |
4 | Cultivated Blueberry/Highbush vaccinium spp | 35.43 |
5 | Aronia or Chockeberry/Aronia melanocarpa | 0.65 |
6 | Acai/Euterpe oleraceae | 0 |
Source: The United Stated Department of Agriculture (USDA) Database for the Flavonoid Content of Selected Food Release
Delphinidin is extensively researched for its beneficial health effects, one of which is reducing postprandial blood glucose in individuals with impaired glucose regulation. Delphinol, a standardized maqui berry extract produced by Anklam Extrakt GmbH, has been studied to prevent blood sugar spikes and cure type-2 diabetes and other complications. In December 2022, MD Process launched GlucoBerry, a proprietary formula based on the extract of maqui berry that helps manage blood sugar through its antioxidant effects that support the kidney in filtering the sugar out of the bloodstream. This mechanism also helps insulin perform its functions effectively. Thus, there is a rising demand for maqui berries to develop supplements and medications for diabetes, which propels the
maqui berries market
Report Segmentation and Scope:
The “Global Maqui Berries Market” is segmented on the basis of form, category, application, and geography. Based on form, the maqui berries market is segmented into fresh and processed. By category, the market is bifurcated into organic and conventional. Based on application, the maqui berries market is segmented into functional food and beverages, pharmaceuticals and nutraceuticals, personal care and cosmetics, and animal nutrition. The maqui berries market, based on geography, is segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Chile, and the Rest of South & Central America).
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Segmental Analysis:
Based on form, the maqui berries market is segmented into fresh and processed. The processed segment held a larger share of the maqui berries market in 2022 and is expected to register a significant growth rate during the forecast period. Maqui berries are processed into different forms, such as frozen, dried, and powdered, to increase their shelf-life. Fresh maqui berries are available majorly in South American countries such as Chile and Argentina. However, fresh maqui berries are highly perishable and are exposed to damage during transportation, resulting in wastage and high transportation costs. Therefore, end-use industries of maqui berries usually prefer processed berries to reduce wastage and huge transportation costs. These factors significantly drive the market growth for the processed segment.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Regional Analysis:
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Based on geography, the maqui berries market is segmented into five key regions—North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. The global maqui berries market was dominated by North America and was estimated to be around US$ 11 million in 2022. Europe is a second major contributor, holding more than 25% share of the market. The North American maqui berries market is segmented into the US, Canada, and Mexico. North America is one of the major markets for maqui berries due to increasing demand for antioxidant-rich food and beverages. Maqui berries have the highest antioxidant content than blueberries, acai berries, and goji berries. Antioxidants help reduce the risk of chronic diseases, including cancer, heart diseases, and diabetes. Moreover, they slow down the aging process, promote a healthy gut, and boost immunity, providing longevity. Rising health concerns due to hectic lifestyles, lack of physical activity, and increasing consumption of junk food propel the demand for functional food and beverages in North America. Moreover, people are actively preferring food and beverages with high natural antioxidants that provide numerous health benefits. Owing to these benefits, the demand for maqui berries is increasing across the food & beverages industry in North America.
Industry Developments and Future Opportunities:
Various initiatives taken by the key players operating in the maqui berries market are listed below:
- In August 2023, Canada-based CK Nutraceuticals extended its North American distribution agreement with Chile-based Maqui New Life for the promotion and distribution of the Maqui berry-derived Delphinol and MaquiBright ingredients.
COVID-19 Impact:
The outbreak of COVID-19 significantly disrupted the agricultural supply chains. Lockdowns, trade bans, and border restrictions hampered the production and supply of raw materials such as fresh and dried maqui berries worldwide. The agricultural yield reduced significantly due to lockdown restrictions, labor shortage, and nationwide business shutdown. Initially, in 2020, consumers started panic buying due to the fear of lockdown which created massive shortage of maqui berries. Moreover, as international trade was banned, the import volume of exotic fruits such as maqui berries also decreased which created supply shortage. This factor also resulted in price hikes, which hampered the sales of various exotic fruits manufacturers operating in the globe.
Many businesses recovered as the governments of various countries eased the restrictions after the initial months of lockdown in 2020. The introduction of the COVID-19 vaccine offered further relief from the distressing pandemic situation, leading to a rise in business activities. The resumption of operations in the manufacturing units positively impacted the maqui berries market in the globe. Manufacturers overcame the demand and supply gap as they were permitted to operate at total capacity. Moreover, the strategic initiatives adopted by the key players fuels the demand for the maqui berries. For instance, in August 2023, Canada-based CK Nutraceuticals has extended its North American distribution agreement with Chile-based Maqui New Life for the promotion and distribution of the Maqui berry-derived Delphinol and MaquiBright ingredients.
Competitive Landscape and Key Companies:
HP Ingredients Corp, Shaanxi LonierHerb Bio-Technology Co Ltd, Rainforest Supply LLC, CK Ingredients Inc, Jeeva Organic Pvt Ltd, Ferreiro & Co Inc, Abbott Blackstone Co, Vita Forte Inc, Nature's Power Nutraceuticals Corp, and Xi'an Herb Bio-Tech Co Ltd are among the prominent players operating in the global maqui berries market. These maqui berries manufacturers offer cutting-edge maqui berry-based products with innovative features to deliver a superior experience to consumers.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Form, Category, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The major players operating in the global maqui berries market are HP Ingredients Corp, Shaanxi LonierHerb Bio-Technology Co Ltd, Rainforest Supply LLC, CK Ingredients Inc, Jeeva Organic Pvt Ltd, Ferreiro & Co Inc, Abbott Blackstone Co, Vita Forte Inc, Nature's Power Nutraceuticals Corp, and Xi'an Herb Bio-Tech Co Ltd.
Development of medicines with maqui berry extracts that support eye health anticipate lucrative opportunities for the maqui berries market. As per the American Academy of Ophthalmology, ∼20 million Americans suffer from dry eye disease (DED). Dry eye happens when tear glands in the eyes do not make enough tears to stay wet and lubricated. This causes irritation in the eyes, redness, sensitivity to light, blurry vision, and a stinging or burning feeling. Dry eyes, if left untreated, can cause severe eye inflammation, corneal ulcers, abrasion of corneal surface, and vision loss. Since maqui berries are antioxidant-rich superfruits, it is seen that they can help reduce dry eye symptoms by reducing inflammation, increasing natural tear production, and improving tear quality.
Based on form, processed segment has largest revenue share. Maqui berries are processed into different forms, such as frozen, dried, and powdered, to increase their shelf-life. Fresh maqui berries are available majorly in South American countries such as Chile and Argentina. However, fresh maqui berries are highly perishable and are exposed to damage during transportation, resulting in wastage and high transportation costs. Therefore, end use industries of maqui berries usually prefer processed berries to reduce wastage and huge transportation costs. These factors significantly drive the market growth for the processed segment.
North America accounted for the largest share of the global maqui berries market. The North American maqui berries market is segmented into the US, Canada, and Mexico. North America is one of the major markets for maqui berries due to increasing demand for antioxidant-rich food and beverages. Maqui berries have the highest antioxidant content than blueberries, acai berries, and goji berries. Antioxidants help reduce the risk of chronic diseases, including cancer, heart diseases, and diabetes. Moreover, they slow down the aging process, promote a healthy gut, and boost immunity, providing longevity. Rising health concerns due to hectic lifestyles, lack of physical activity, and increasing consumption of junk food propel the demand for functional food and beverages in North America.
Based on the category, organic segment is projected to grow at the fastest CAGR over the forecast period. Organic berries are perceived to be healthier than conventional ones as they are grown in a stringent environment and are free from pesticides, chemical fertilizers, genetically modified organisms (GMOs), and antibiotics. Maqui berry producers follow stringent practices to grow organic maqui berries to obtain organic certification from well-known agencies and organizations such as the United States Department of Agriculture (USDA) and American International. The rising trend of organic food due to its potential health benefits drives the demand for organic maqui berries.
Increasing use of maqui berries in functional food and beverages is driving the maqui berries market. In recent years, there has been an increasing demand for functional food and beverages due to growing health awareness and rising preference for healthy food consumption. People are rapidly replacing sugar-dense, fried, and junk food with nutritionally rich, natural, and clean products. Moreover, they are concerned about the negative impacts of artificial food additives and ingredients in packaged food and beverages. Therefore, manufacturers of functional food and beverages prefer natural fruit and vegetable extracts and botanicals to increase the nutritional value of products.
The List of Companies - Maqui Berries Market
- HP Ingredients Corp.
- Shaanxi LonierHerb Bio-Technology Co Ltd.
- Rainforest Supply LLC
- CK Ingredients Inc
- Jeeva Organic Pvt Ltd
- Ferreiro & Co Inc
- Abbott Blackstone Co
- Vita Forte Inc
- Nature's Power Nutraceuticals Corp
- Xi'an Herb Bio-Tech Co Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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