Tamarind Extract Market Overview
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.
Due to their extensive uses in both households and the food processing industry, consumers’ demand for seasonings and condiments has grown over the past several years. One of these flavoring ingredients that improves the flavor and texture of various food products is tamarind extract. The production of tamarind concentrate, which is used to create mixes for fruit juices, sauces, pickles, etc., begins with tamarind extract.
Due to its antifungal, antiseptic, and antibacterial qualities, tamarind extract is utilized as a natural preservative. The sweetness and sourness of the tamarind fruit are exactly replicated in the flavor of the extract. Tamarind extract makes it simpler to bind substances together, making it ideal for flavoring alcoholic beverages like vodka, wine, and whiskey.
ChemView Consulting has analyzed that 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.
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.
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Segments Covered in Report
By Form:
- Powder
- Paste
By End-User:
- Cosmetic
- Household
- Pharmaceutical
- Food & Beverages
By Sales Channel:
- Online Retailers
- Supermarkets/Hypermarkets
- Convenience Stores
- Specialty Stores
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Tamarind Extract Market
- Based on the end-user, 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.
- Based on the form, 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.
- Based on the region, the Asia Pacific market is predicted to dominate the target market and generate a significant revenue share of 53.4% due to the presence of a substantial manufacturer and exporter of tamarind extract in countries like India. The abundant supply of wild tamarinds in Thailand and Indonesia is another factor that is projected to promote market expansion in the Asia Pacific region.
Competition Summary
Key companies covered in the market study 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
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
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