Maqui berry, an exotic black fruit, has gained traction as it is recommended for weight management and heart disorders. Maqui berries are a rich source of antioxidants and also contain calcium, magnesium, and vitamins, such as A, C, B1, and B3. Due to its high antioxidant content and micronutrients, it is being considered a superfruit. Consumption of maqui berries infused products reduces inflammation, controls blood sugar levels, and also offers benefits for heart disorders. All these factors drive the maqui berries market growth.
Increasing Use of Maqui Berries in Functional Food and Beverages Propels Maqui Berries Market Growth
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. Maqui berries are considered the highest antioxidant-containing superfruit. It has seven times more antioxidant capacity than acai berry and nine times more than goji berry. Also, maqui berries help neutralize the cell-damaging free radicals.
Maqui berries have the highest oxygen radical absorbance capacity (ORAC) among all the berries. High ORAC helps boost immunity; fight infections caused by viruses, parasites, and bacteria; and increase energy levels. Thus, the rich nutritional profile of maqui berries is driving their demand among functional food and beverage manufacturers. Manufacturers of yogurts, breakfast cereals, protein and energy bars, energy and sports drinks, functional bakery products, baby food, probiotic drinks, and functional food and beverage products are extensively adding maqui berries and maqui berry powders and extracts to their products to enhance the nutritional profile and flavor and a vibrant purple color. All these benefits of maqui berries fuel the maqui berries market growth.
Maqui Berries Market: Segmental Overview
Based on form, the maqui berries market is bifurcated into fresh and processed. Maqui berry is a wild fruit that grows mainly in South American countries such as Chile and Argentina. It is mainly harvested in the Patagonia region of Chile. It has multiple health benefits, owing to which it is regarded as a superfruit. It contains antioxidants, especially anthocyanins, that reduce the risk of diabetes, cancer, heart disease, and other chronic diseases. The dark purple color of the berries is because of the anthocyanin content. Maqui berries also support eye health due to the presence of beneficial antioxidants. The increasing awareness regarding the health benefits of maqui berries is driving its consumption among people. Fresh maqui berries are available mostly in South America. Local people usually consume it fresh as fresh consumption is healthier than processed products.
Based on category, the maqui berries market is segmented into organic and conventional The conventionalsegment accounted for a larger market share in 2022. Farmers and maqui berry collectors usually follow conventional agricultural practices such as using chemical pesticides, fertilizers, and growth hormones to achieve higher crop yield. Conventional maqui berries are less expensive than organic ones due to lower production and processing costs and are readily available. However, as consumers’ awareness about the health benefits of organic maqui berries is increasing, the popularity of conventional maqui berries is expected to reduce in the coming years.
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 functional food and beverages segment accounted for the largest share in 2022. Maqui berries are witnessing high demand across the functional food and beverages sector due to their versatile health benefits. It is a rich source of antioxidants and anti-cancer agents. Moreover, it assists in regulating blood sugar levels and reduces inflammation. Therefore, maqui berries are a functional ingredient in yogurts, protein bars, breakfast cereals, muesli, ice creams, energy drinks, and smoothies. Also, it has a deep purple color, owing to which it is used as a natural food color. Maqui berries also have a sweet and sour taste, making them a natural flavoring agent in beverages, dairy and non-dairy products, and frozen desserts. Products flavored with maqui berries are witnessing immense demand due to their bright, sweet, and sour flavors, vibrant colors, and health claims derived from the superfood status. These factors drive the demand for maqui berries among functional food and beverage manufacturers.
Impact of COVID-19 Pandemic on Maqui Berries Market
Before the COVID-19 pandemic, the global maqui berries market was majorly driven by strong demand for natural flavoring ingredients, rising awareness of health benefits of superfood ingredients, and consumers exploring different cuisines. However, 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.
Maqui Berries Market: Competitive Landscape and Key Developments
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 a few leading players operating in the maqui berries market. These players are focused on developing innovative products to meet the changing requirements of consumers.