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amaranth market

Amaranth Market Share, Size, Trends, Industry Analysis Report, By Product (Seed, Oil, Leaf, Flour); By Application (Food & Beverages, Cosmetics and Personal Care, Pharmaceuticals); By Category (Organic, Conventional); By Region; Segment Forecast, 2022 - 2030

  • Published Date: Jun 2022
  • Pages: 115
  • Format: PDF
  • Report ID: PM2461
  • Base Year: 2021
  • Historical Data: 2018-2020

Report Summary

The global amaranth market was valued at USD 5.89 billion in 2021 and is expected to grow at a CAGR of 11.7% during the forecast period. It is a global plant genus. Despite the fact that some varieties are commonly regarded as weeds, populations all over the globe value amaranth for its leaf veggies, ornamental plants, and grains.

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It is used in a variety of ways because it contains essential nutrients and elements such as iron, potassium, phosphorus, magnesium, as well as calcium. Increasing awareness regarding benefits along with the rising trends of adopting gluten-free, nutritious products is anticipated to boost product demand throughout the projected period.

However, the market is consolidated with a fewer number of industry players due to high manufacturing costs, which in turn is expected to restrict industry growth over the forecast period. Furthermore, uncertain climatic circumstances are also likely to limit grain production during the forecast period.

Industry Dynamics

Growth Drivers
The amaranth market is expected to increase during the projected period owing to its micronutrients and anti-oxidant properties, which have led to its widespread use in skincare products use, including personal care and beauty products. The demand for natural product is continuously expanding because of the growing customer preference for organic and clean-label goods. Natural items are devoid of chemical pollutants, making them a cleaner alternative to commercially farmed food.

Amaranth grains, which are vital in vitamin C, may help boost the immunological mechanism by increasing white plasma cell formation. Vitamin C is crucial to the body's therapeutic system since it assists in iron absorption, blood vessel creation, muscle tissue regeneration, as well as collagen preservation.

Report Segmentation

The market is primarily segmented based on product, category, application, and region.

By Product

By Category

By Application

By Region

  • Seed
  • Oil
  • Leaf
  • Flour
  • Organic
  • Conventional
  • Food & Beverages
  • Cosmetics and Personal care
  •  Pharmaceuticals
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Insight by Product

The seed segment dominated the industry globally and is expected to grow significantly during the forecast timeframe. Amaranth seeds, both whole, and ground, are used in main dishes, appetizers, desserts, and pastries. Natural seeds are extensively absorbed due to the rising consciousness for natural foods, particularly superfoods, which drive industry growth.

In the medical sector, its seed oil is utilized to manufacture medicinal formulations that are advantageous for cell regeneration, immune response improvement, and others. The increase in consumer knowledge regarding the medical advantages of its seeds affects the development of the product seed over the projected period.

Insight by Application

Cosmetic and personal care segment is expected to grow considerably throughout the projected period. The sector has an enormous number of developed enterprises due to improved public acceptance and is predicted to grow rapidly, especially in developing markets.

Squalene, as a skin ingredient, facilitates quick oil-absorbing and, in reality, does not produce a greasy sheen on the complexion. Amaranth oil offers extra antibacterial defense for the skin due to the presence of squalene and a vitamin compound in its structure. Thus, increasing adoption of natural skincare products in developed as well as developing economies is expected to offer growth prospects for industry development during the coming years.

Geographic Overview

North America dominated the global market in 2021 and is anticipated to maintain its dominance throughout the projected period due to the increasing trends in nutritious foods. Furthermore, rising trends in gluten-free food products are also expected to favor the growing demand throughout the projected period.

Furthermore, the increasing consumption of healthy foods & beverages has grown as people prefer them over sugary fizzy beverages, fueling the product demand. Additionally, the growing consumer need for organically produced and organic goods, combined with the growing vegan lifestyle, drives industry expansion.

Asia Pacific holds a significant share and is anticipated to grow at a considerable pace throughout the projected period due to increasing disposable income along with the booming cosmetics industry in countries like China and India. Furthermore, there is also an increasing demand for squalene derived from products owing to its anti-oxidant as well as anti-inflammatory qualities, which in turn favors the market growth.

Competitive Insight

Major market players operating in the amaranth market include Amaranth Bio Company, Amaranth Nord, AMR Amaranth A.S., Dk Mass S.R.O, Flaveko Trade Spol. S.R.O, Flavex Naturextracte Gmbh, Irel Nans Products Pvt Ltd., Kilaru Naturals Private Limited, Luke’s Organic, Mary’s Gone Crackers Inc., Mukushi Foods, Natures Bakery, Nova-Lux Group LLC, Nu-World Foods, Organic Products India, Proderna Biotech Pvt. Ltd., Pure Inc., RusOliva Pvt. Ltd., Saar, Spol S.R.O, and Van’s International Foods Inc.

The global amaranth market is highly fragmented, with numerous players operating locally, regionally, and globally. These market players indulge in various marketing strategies such as new product launches, mergers & acquisitions, partnerships, and collaboration in order to increase their market presence and bolster their profits.

For instance, in February 2020, Ardent Mills announced plans to expand its specialty grain operations and The Annex by Ardent Mills (The Annex) by acquiring Andean Naturals, Inc.'s quinoa procurement, cleaning, and manufacturing plant in Yuba City, California.

Amaranth Market Report Scope

Report Attributes

Details

Market size value in 2021

USD 5.89 Billion

Revenue forecast in 2030

USD 14.99 Billion

CAGR

11.7% from 2022 - 2030

Base year

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD billion and CAGR from 2022 to 2030

Segments covered

By Product, By Category, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key Companies

Amaranth Bio Company, Amaranth Nord, AMR Amaranth A.S., Dk Mass S.R.O, Flaveko Trade Spol. S.R.O, Flavex Naturextracte Gmbh, Irel Nans Products Pvt Ltd., Kilaru Naturals Private Limited, Luke’s Organic, Mary’s Gone Crackers Inc., Mukushi Foods, Natures Bakery, Nova-Lux Group LLC, Nu-World Foods, Organic Products India, Proderna Biotech Pvt. Ltd., Pure Inc., RusOliva Pvt. Ltd., Saar, Spol S.R.O, and Van’s International Foods Inc.

Key Take-Away
Polaris Market Research
Global Amaranth Market Size Report, 2022 - 2030