The global amaranth market size is expected to reach USD 14.99 billion by 2030, according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Amaranth has a lot of antioxidants, such as gallic acid as well as vanillic acid. Antioxidants battle free electrons, which are harmful consequences of regular cellular functioning, and can help prevent anything from wrinkles to cardiovascular diseases. Rising awareness regarding amaranth benefits is expected to propel industry demand during the projected timeframe.
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Furthermore, amaranth oil is widely utilized in nutritional vitamins, medicines, aromatherapy, food, as well as other purposes owing to its numerous health advantages, including high antioxidant content, which reduces the danger of cardiac illness, among others. As a result of the expansion of these application sectors, the demand for amaranth is expected to grow during the forecast period. Moreover, with increasing research & development in emerging pharmaceutical nations such as India due to high squalene content in amaranth, the demand for the product is expected to expand in the coming years.
The cosmetics and personal care segment is predicted to lead the industry because of the numerous advantages of amaranth, such as its balanced fats and squalene, which helps preserve hair and skin condition. Furthermore, increasing demand for organic products in developed and developing nations is anticipated to drive the demand for the segment.
North America is anticipated to hold the majority shares in the global market over the forecast period. The pharmaceutical sector's increasing trend of producing innovative medications relying on bio-based essential ingredients, along with the rising adoption of healthy gluten-free products, are expected to contribute to the product demand over the coming years.
Industry players operating in the global market include Amaranth Bio Company, Amaranth Nord, Dk Mass S.R.O, AMR Amaranth A.S., Flaveko Trade Spol. S.R.O, RusOliva Pvt. Ltd., Irel Nans Products Pvt Ltd., Flavex Naturextracte Gmbh, Kilaru Naturals Private Limited, Mary’s Gone Crackers Inc., Luke’s Organic, Mukushi Foods, Natures Bakery, Pure Inc., Nova-Lux Group LLC, Organic Products India, Nu-World Foods, Proderna Biotech Pvt. Ltd., Saar, Spol S.R.O, and Van’s International Foods Inc.
Polaris Market Research has segmented the amaranth market report based on product, category, application, and region:
Amaranth, Product Outlook (Revenue - USD Billion, 2018 - 2030)
Amaranth, Category Outlook (Revenue - USD Billion, 2018 - 2030)
Amaranth, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Amaranth, Regional Outlook (Revenue - USD Billion, 2018 - 2030)