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

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 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. '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.', '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.'

One of the primary drivers of the 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 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 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 amaranth market.

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.