Tamarind Extract Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Tamarind Extract Market grew at a CAGR of 6.8% between 2017-2021 and is estimated to be US$ 678.9Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 6.3% and is expected to reach a valuation of US$ 1,250.7Mn by 2032 end.
The growing consumer desire for nutritious food products is the primary global driver of tamarind extract demand. Additionally, a rise in demand for tamarind extract is anticipated during the forecasted period due to growing awareness of the negative consequences of artificial products.
MOST OF THE MARKET DEMAND FOR TAMARIND EXTRACT IS DRIVEN BY THE HEALTHCARE AND FOOD SECTOR
Due to its enhancing flavors and nutritional value, the healthcare and food industries account for most of the global demand for tamarind extract. The tamarind’s nutritious worth is increasing the market’s need for extract. The growing population contributes to the need for tamarind extracts in food and medicine in oil, powder, and pulp.
The demand for tamarind extract has increased due to the shift in customer tastes, which favors natural preservatives like lactic acid and benzoic acid over synthetic ones. The cosmetic and personal care industry is a significant driver of demand for tamarind products due to their use in health enhancement.
RISING GOVERNMENT CONTROL MEASURES AND LEVIED SERVICE CHARGES NEGATIVELY IMPACT THE SALES OF TAMARIND PRODUCTS
Increased governmental controls and imposed service fees harm tamarind product sales. This has an impact on the scale economies of vendors. Due to increasing urbanization and deforestation, vendors have trouble coordinating supply.
Processing tamarind seeds, removing the pulp, and extracting juice concentrate all require a substantial workforce and infrastructure. Major determining elements for vendors to get a competitive edge in the markets are preservation and supply chain.
GLOBAL DEMAND FOR CONFECTIONERY IS ATTRIBUTED TO THE CREATION OF AN EMERGING MARKET
The emergence of a market for flavored candies and beverages, where tamarind extracts are desired, is blamed for the increase in global demand for sweets. The easy accessibility of the extract in comparison to the natural product is another aspect that fosters market expansion. As more and more of the world’s 3.3 billion workers lead busy lives, the demand for the extracted product will rise. It offers a simple substitute for using the extract.
Market Segments Covered in Report
By Sales Channel:
By Region and Country:
Which end-user is increasing in its demand in the anticipated period?
Sales of tamarind extract in the food business are being driven by growing knowledge of the health advantages of tamarind. Tamarind is often utilized in the food service sector to improve flavor, heal dry eyes, and relieve constipation. Adoption in the pharmaceutical industry will also be aided by using tamarind extract in conventional therapy to improve immune function.
Due to the presence of Vitamin C in the extract, tamarind is also said to lessen blemishes and acne and improve skin tone. Tamarind extracts also include moisturizing and anti-aging qualities. As a result, major cosmetics companies are using more tamarind extract in serums for skin and hair care. For instance, one prominent cosmetics company, Bluemercury, announced the release of M-61 Hydra boost lotion, which contains peptides, Vitamin B5, and tamarind.
What is tamarind extract powder made of?
To balance rich, spicy taste profiles, tamarind powder is a special, sour spice frequently used in Indian or other savory Asian food. It is commonly used in various sauces, drinks, sweets, and snacks.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
There are just a few key competitors in the fiercely competitive global tamarind extract industry. To spread their products into markets, they don’t already exist; sector leaders partner with local businesses.
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Form, End-User, Sales Channel, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 6.3%.
Most of the market demand for tamarind extract is driven by the healthcare and food sector.
Major global Tamarind Extract Market players are Magma Foods, MoonLite, Kanegrade Limited, Shimla Hills, and Jadli Foods (India) Pvt. Ltd, ABC International, Baaeco V Food Ltd., Xi’an Victory Biochemical Technology Co., Ltd., Revata Food Products Pvt Ltd, Abdullabhai Abdul Kader.
Rising government control measures and levied service charges negatively impact the sales of tamarind products.
Asia Pacific Region is expected to account for the largest market revenue share in the Global Tamarind Extract market.
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