USD 5.89 billion
Amaranth Market Size, Share, Growth Analysis, By Product(Amaranth grains, amaranth flour, amaranth leaves, and others), By Application(Food and beverage, cosmetics and personal care, pharmaceuticals, and others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30H2080 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
65
|Figures:
79
Amaranth Market Insights
Amaranth Market size was valued at USD 5.89 billion in 2021 and is poised to grow from USD 6.58 billion in 2022 to USD 15.94 billion by 2030, growing at a CAGR of 11.7% in the forecast period (2023-2030).
The global amaranth market is a rapidly growing market, driven by a combination of factors such as increasing awareness of the health benefits of amaranth, the rise of plant-based diets, and the growing demand for gluten-free and organic products. Amaranth is a highly nutritious pseudo-grain that is rich in protein, fibre, vitamins, and minerals, making it a popular ingredient in health foods and dietary supplements. One of the major drivers of the global amaranth market is the increasing awareness of the health benefits of amaranth. It is rich in protein, which is essential for building and repairing tissues in the body, and it also contains all nine essential amino acids. Additionally, amaranth is a good source of fibre, which promotes digestive health, and it is rich in vitamins and minerals, such as iron, calcium, and magnesium, making it a valuable ingredient in the production of healthy foods and supplements.
The rise of plant-based diets is another major driver of the global amaranth market. As consumers become more health-conscious and environmentally aware, they are increasingly turning to plant-based diets as a way to improve their health and reduce their carbon footprint. Amaranth is a popular ingredient in plant-based diets as it is a good source of protein, and it can be used in a variety of dishes, including breakfast cereals, baked goods, and snack bars. The growing demand for gluten-free and organic products is also driving the growth of the global amaranth market. Amaranth is a naturally gluten-free grain, making it a popular alternative to wheat and other grains for people with celiac disease or gluten intolerance. Additionally, amaranth is often grown using organic farming methods, making it a preferred choice for consumers who are looking for organic and sustainable food products.
US Amaranth Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Amaranth grains
Fastest Growth
Amaranth grains
Growth Rate
11.7% CAGR
Global Amaranth Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
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Amaranth Market Segmental Analysis
Global Amaranth Market is segmented on the basis of product, application and region. By product, the market is segmented into amaranth grains, amaranth flour, amaranth leaves, and others. By application, market is segmented into food and beverage, cosmetics and personal care, pharmaceuticals, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Amaranth Market Analysis by Product
The largest segment of the global amaranth market is likely amaranth grains, as they are the most commonly consumed form of amaranth and are used in a variety of food products such as breakfast cereals, snacks, and baked goods. Amaranth grains are the most popular product type in the global amaranth market. These are small, gluten-free grains that are used in a variety of food products such as breakfast cereals, energy bars, and snacks. They are also used as a substitute for rice, quinoa, and other grains in various recipes. Amaranth grains are rich in protein, fiber, and minerals, making them a popular choice among health-conscious consumers.
The fastest-growing segment of the global amaranth market is amaranth flour. Amaranth flour is made by grinding amaranth grains into a fine powder. It is used in various baked goods such as bread, cakes, and cookies. Amaranth flour is gluten-free and has a nutty flavor, making it a popular choice among people with celiac disease or gluten intolerance.
Amaranth Market Analysis by Application
The largest segment of the global amaranth market based on application is likely food and beverage. Amaranth grains and flour are widely used in various food products such as breakfast cereals, baked goods, snacks, and other processed foods. The increasing demand for plant-based and gluten-free food products is expected to drive the growth of the amaranth market in the food and beverage segment.
The fastest-growing segment of the global amaranth market is the cosmetics and personal care segment could be experiencing significant growth due to the increasing use of amaranth oil and extract in skincare and hair care products. Amaranth oil is rich in squalene, a natural moisturizing agent that helps improve skin hydration, while amaranth extract is known to have anti-inflammatory and antioxidant properties that may help protect the skin from environmental stressors.
Global Amaranth Market Size By Product 2022(%)
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Amaranth Market Regional Insights
North America is one of the largest markets for amaranth globally, with the United States being the largest contributor to the market's growth in the region. The increasing demand for healthy and plant-based food products is one of the major drivers of the market in North America. Amaranth is widely used in the United States as an ingredient in various food products, such as breakfast cereals, snack bars, and baked goods. The growing popularity of vegan and vegetarian diets in the region is also contributing to the demand for amaranth products as it is a plant-based protein source. In addition, the increasing prevalence of chronic diseases such as diabetes, obesity, and heart disease has led consumers to focus more on healthy eating habits, which has resulted in an increased demand for superfoods such as amaranth. North America is also home to some of the leading manufacturers and suppliers of amaranth, which further contributes to the growth of the market. The availability of amaranth-based products through various distribution channels, including supermarkets, health food stores, and e-commerce platforms, also makes it easily accessible to consumers in the region.
The fastest-growing region for the global amaranth market is likely to be Asia-Pacific. The Asia-Pacific region has a large population of health-conscious consumers who are increasingly adopting plant-based diets and looking for healthy and nutritious food products. This has led to an increase in demand for amaranth in the region. Amaranth has been used in traditional dishes in countries such as India, China, and Japan for many years. The increasing popularity of traditional cuisine in the region has further boosted the demand for amaranth. The Asia-Pacific region has seen a growing trend of gluten-free products due to the increasing awareness of gluten intolerance and celiac disease. As amaranth is gluten-free, it has become a popular ingredient in gluten-free products in the region. The availability of amaranth products has increased in the Asia-Pacific region with the growth of the health food industry. This has led to greater awareness and demand for amaranth in the region.
Global Amaranth Market Size By Geography, 2022-2030
- Largest
- Fastest
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Amaranth Market Dynamics
Amaranth Market Drivers
Health Benefits
- One of the primary drivers of the global amaranth market is the increasing awareness of the health benefits associated with consuming amaranth. Amaranth is rich in protein, fiber, and minerals such as calcium and iron, and is also gluten-free, making it an ideal choice for people with celiac disease or gluten intolerance. As more people become health-conscious and seek out nutritious and natural foods, the demand for amaranth is likely to grow.
Increasing Demand for Plant-based Protein
- Another driver of the global amaranth market is the growing demand for plant-based protein. With concerns over the environmental impact of animal agriculture and the health risks associated with consuming too much meat, more people are looking for alternative sources of protein. Amaranth is a good source of plant-based protein, containing around 13-14% protein by weight. As the demand for plant-based protein continues to grow, the market for amaranth is expected to expand.
Amaranth Market Restraints
Limited Awareness
- One of the main restraints of the global amaranth market is the limited awareness of the product in some regions. Amaranth is a relatively new and niche product in many parts of the world, and consumers may not be familiar with its health benefits or how to prepare it. This lack of awareness can hinder the growth of the market, as it may be difficult for companies to convince consumers to try amaranth over more familiar foods.
Limited Availability and High Cost
- Another restraint of the global amaranth market is the limited availability and high cost of the product in some regions. Amaranth is a specialty crop that is not widely grown or distributed, which can make it difficult for companies to source the product and keep costs low. Additionally, as demand for amaranth grows, the limited supply can lead to price increases, which may make the product less accessible to some consumers. These factors can limit the growth of the market and make it challenging for companies to scale their operations.
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Amaranth Market Competitive Landscape
The global amaranth market is highly fragmented and competitive, with many small and medium-sized players operating in the industry. The key players are focusing on product innovation, expanding their distribution networks, and entering into strategic partnerships to gain a competitive advantage in the market. For instance, Ardent Mills recently launched a new amaranth flour as part of their product portfolio, while Inca Worldwide announced a partnership with Colombian farmers to increase the production of amaranth in the country. The market is also characterized by a large number of regional and local players, particularly in developing countries where amaranth is traditionally consumed. These players offer a range of amaranth-based products, including snacks, cereals, and bakery products, catering to local tastes and preferences.
Amaranth Market Top Player’s Company Profiles
- Birla Group
- Nu-World Foods
- RusOliva
- General Mills Inc.
- AMR Amaranth
- Flavahan's
- Natures Path Foods
- ProNature Organic Foods
- Shiloh Farms
- Great Eastern Sun
- Healthline Superfoods
- Nutriwish
- Sukrin Ltd.
- Ivarson Inc.
- Ardent Mills
- Barrington Nutritionals
- Bob's Red Mill Natural Foods
- Navdanya
- Real Foods Pty Ltd.
- Yushan Agricultural Co. Ltd.
Amaranth Market Recent Developments
- In January 2022, Cascadian Farm, a US-based organic food company, introduced a new granola bar made with amaranth as part of its product line. The new bar is gluten-free, non-GMO, and contains no artificial flavors or colors.
- In February 2022, Nature's Path, a Canadian organic food company, launched a new cereal made with amaranth as one of its main ingredients. The new cereal, called Amaranth Flakes, is gluten-free and vegan and contains no artificial preservatives or additives.
- In March 2021, Ardent Mills, a flour milling and ingredient company, launched new amaranth flour as part of their Great Plains Quinoa and Specialty Grains line. The new flour is made from 100% whole grain amaranth and is gluten-free, non-GMO, and organic.
- In April 2021, Healthy Truth, a US-based snack company, expanded its line of amaranth-based snacks with three new flavors: cinnamon crunch, sea salt, and cheddar cheese. The new flavors were added to the company's existing line of vegan and gluten-free amaranth puffs.
Amaranth Key Market Trends
- Increasing demand for gluten-free products: Amaranth is a naturally gluten-free grain that has gained popularity among consumers who are looking for alternatives to wheat-based products. The global demand for gluten-free products has been on the rise in recent years, driven by an increase in celiac disease, gluten intolerance, and a growing awareness of the health benefits of a gluten-free diet. As a result, the demand for amaranth and other gluten-free grains is expected to continue to grow, driving the growth of the global amaranth market.
Amaranth Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global amaranth market analysis, the global market has witnessed significant growth in recent years, owing to the increasing demand for healthy and natural food products. Amaranth is a gluten-free, high-protein grain that is rich in minerals and antioxidants, making it a popular choice among health-conscious consumers. Geographically, the Asia Pacific region is the fastest growing region of the global amaranth market, owing to the increasing demand for healthy and natural food products in countries such as India and China.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 5.89 billion |
| Market size value in 2031 | USD 15.94 billion |
| Growth Rate | 11.7% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Amaranth Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Amaranth Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Amaranth Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Amaranth Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Amaranth Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Amaranth Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Amaranth Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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