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The Global Baobab market is expected to register at a CAGR of 5.3%, during the forecast period. With exotic and tangy flavor described as a cross between grapefruit, pear and vanilla, baobab fruit has been used in Africa for years. Changing consumer preferences, eating and purchasing habits, as well other factors affecting the industry including new market entrants and demographic changes affected the economic condition of the global baobab market. Baobab powder has grown in popularity and is widely used in supplements, capsules and food products with many companies claiming it to be the latest super food.
With the changing consumer preferences towards healthy foods, there has been a rise in demand for baobab fruit. African fruit’s popularity is rising due to the presence of high content of nutrients and antioxidants, giving it the name of “super food”. The baobab fruit powder which originated from Africa is getting increasingly popular on both local and global markets due to particular nutritional properties. It has a high content of vitamin C, protein, vitamins, minerals and antioxidants.
The baobab fruit also has medicinal properties such as it acts as antimicrobial, anti-malarial, antiviral, anti-inflammatory. It also aids in the treatment of diarrhea, anemia and asthma.
The oil on the other hand has a long history of traditional use in Africa as a moisturizing oil, for direct application on skin, hair, and candles as an essential oil. Baobab oil has significant levels of gamma-tocopherol (Vitamin E) (4-5). Baobab oil is one of the few natural oils that contains Omega 3, Omega 6 and Omega 9 fatty acids. Known for its moisturizing abilities, clinical trials in Italy on cold-pressed baobab oil have shown that, after 4 weeks of use, significant improvements are seen in skin elasticity of subjects.
The African Ready To Drink (RTD) coffee market was valued at USD 210.1 million in 2017. The market is expected to register a CAGR of 1.3% during the forecast period, (2018-2023). It is a recently developed concept, wherein the beverage is sold in a convenient, directly consumable form. Despite being marketed as a young and urban phenomenon, RTD consumers can be from almost all demographic segments.
The instant nature and convenience offered by RTD coffee are important drivers for Africa RTD coffee market. The nature of the product makes it a highly trend-driven and, as such a certain element of innovation is constantly in demand. Regarding the major access points, iced products with longer shelf life provide major opportunities, along with liquid coffee concentrates and frozen concentrates. The latter holds importance for bulk buyers, such as restaurants and offices. The major constraint for the market is in adapting to regional tastes and preferences. Specific regions, where consumers are habituated to hot or freshly ground coffee, take a considerable time and reluctance in adapting to the new tastes. Extensive marketing and use of locally sourced products are essential in countering this perception.
The textile industry in Africa is estimated to grow at a CAGR of ~5% over the forecast period of 2019-2024.
The African textile industry is a varied one, but the seeming constant is their cotton market. There are many countries in Africa that currently grow and sell cotton. Six of them grow cotton under the label ''Cotton made by Africa'', which is one of the largest job producers as well, with 450,000 Africans working in the cotton business alone.
The growing and selling of cotton is not their only textile industry though. South Africa has also gotten into technical textiles as well, by providing hemp to aeronautics companies for their products.
Countries like Ethiopia are also starting to gain textile mills which employ locals and help businesses trying to escape the rising wages in countries like China.
Companies like H&M have opened mills in Africa, since their wages are less, and the population can support the workers needed. They also create products like thread and yarn for global markets from cotton grown and harvested in Africa.
Textile producers and exporters across Africa rely majorly on the impact of new trade rules that took effect in January 2005. The rules, negotiated at the World Trade Organization (WTO), opened up to market forces a sector that had been protected for more than 30 years by ending a quota system in industrial nations which resulted in a ready market for textiles and apparel from African and other developing countries.
Also, the demand for African textiles and garments is increasing globally, and African patterns are gaining recognition as truly fashionable and iconic pieces. International fashion houses are integrating more and more African influences in their latest collections.