USD 2197.4 million
Europe Amaranth Market Size, Share, Growth Analysis, By Category(Conventional and Organic), By Product(Seed, Oil, Leaf and Flour), By Application(Food & Beverages, Pharmaceutical, Personal Care, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIR30H2160 |
Region:
Regional |
Published Date: February, 2024
Pages:
157
|Tables:
89
|Figures:
76
Europe Amaranth Market Insights
Europe Amaranth Market size was valued at USD 2197.4 million in 2021 and is poised to grow from USD 2434.72 million in 2022 to USD 5530.53 million by 2030, growing at a CAGR of 10.8% in the forecast period (2023-2030).
Growing consumer awareness of the product's high nutritional value and the medical benefits of using it is the key factor driving market expansion. The number of individuals working has increased over the past few years, which has raised reliance on a healthy diet. Due to a high level of consumer preference for a vegan diet, it is also anticipated that demand for superfoods like amaranth would increase over the forecasted period. Due to the target population's high-income levels in Europe, processed foods and dietary supplements are in high demand.
A German vegan supermarket named Vegan conducted a study in 2021 that found that 3.2% of the population was vegan, a significant increase from 1.6%. Over the projected period, the product demand is anticipated to increase as more individuals choose vegan diets. Products made by amaranth include seeds, flour, leaves, and oil. Important market players use online retailers and local distributors to distribute their products.
The producers ensure the highest quality goods thanks to temperature- and pest-controlled warehouses for the storage of raw materials to ensure continuous supply. As an illustration, FLAVEX Naturextrakte GmbH has a climate-controlled facility with a 700-ton raw material storage capacity that enables the company to keep an ongoing supply of raw materials without compromising their quality.
The market is anticipated to grow in the coming years as a result of growing essential oil demand in the cosmetics sector and growing customer interest in products that promote a nutritious lifestyle. As consumer demand for goods with clear ingredient lists and natural ingredients rises, it is also anticipated that the market will be pushed by the increased usage of essential oils in the food and beverage industry.
Market Snapshot - 2023-2030
Global Market Size
Largest Segment
Animal
Fastest Growth
Animal
Growth Rate
10.8% CAGR
Europe Amaranth Market 2022-2030 ($ Bn)
Country Share for Western Europe Region- 2022(%)
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Europe Amaranth Market Segmental Analysis
Europe Amaranth Market is segmented based on Category, Product, Application and region. Based on Category the market is segmented into Conventional and Organic. Based on Product the market is segmented into Seed, Oil, Leaf and Flour. Based on Application The market is segmented onto Food & Beverages, Pharmaceutical, Personal Care, Others. Based on region the Europe Amaranth Market is segmented into U.K., Germany, France, Italy, Spain, Russia and Portugal.
Analysis by Product
With a sales share of more than 49%, the oil product segment took the top spot on the market in 2021. Squalene, a component of amaranth oil, is used in pharmaceutical products because of its antioxidant, immune-system-boosting, and cell-rejuvenating properties. The oil is used in cancer therapy to lessen the side effects of cancer drugs. Moreover, it reduces blood cholesterol levels, decreasing the likelihood of getting heart disease (CVDs).
The product segment for seeds had the second-highest revenue share. Amaranth seeds, a dicotyledonous pseudo cereal, are gaining popularity among European consumers due to their nutritional benefits. Amaranth is regarded as a superfood because of its high concentration of nutraceuticals such as protein, squalene, dietary fiber, vitamins, minerals, and flavonoids.
The strong demand for amaranth flour due to its fiber, phosphorus, vitamin C & A, potassium, and calcium content is projected to lead to significant growth in the flour product market. As it absorbs a lot of liquid, it is used as a thickening ingredient in sauces, soups, and stews. The most popular varieties of Amaranthus, which are widely grown in the United States, Mexico, India, and Central America, are Amaranthus cruets and Amaranthus caudate.
Analysis by Application
Food & Drinks emerged as the most lucrative made detail, with a market share of 59.4%. Since its seeds include a substantial portion of tocotrienols, amaranth offers excellent nutritious benefits. Also, it has a lot of protein and fiber. Many fast-food restaurants and ready-to-eat food producers are focusing on producing products with a high nutritional value as a result of changing consumer expectations. In nations such as Italy, the Netherlands, and Germany, respectively, vegetarians made up around 5%, 8.9%, and 10% of the population.
The growing vegan population in European countries is projected to play a key role in enhancing product penetration in the food and beverage application sector. The personal care application category is predicted to grow the fastest during the projected period. Amaranth-based products help to balance and revitalize the skin. Thus, a range of cosmetics use both these and other components.
Furthermore, the antioxidant qualities of these products aid in wrinkle reduction. Personal care product manufacturers have been forced by the region's rapidly changing personal care market to offer a wide range of sophisticated clean-label products and create formulations for various consumer groups, which is anticipated to open up new growth opportunities for the European market.
Europe Amaranth Market By Category 2022 (%)
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Europe Amaranth Market Regional Insights
Germany held a 17.6% share of the global market in 2021 as a result of its big consumer base and high consumer awareness of the harmful effects of artificial flavors and chemicals used in food, beverages, and cosmetic products. Thus, it is projected that application industries will focus more on offering plant-based goods to meet the changing customer demands.
The U.K. is expected to have the fastest CAGR of nearly 11.4% due to an increasing vegan population. The nation's numerous food and beverage companies and growing consumer understanding of the importance of a balanced diet are projected to be the primary market drivers.
The factors driving the product demand in the region are higher per capita income levels and the rising acceptance of vegan diets. Amaranth is a great alternative to dairy products because of its increased protein level. Hence, more people developing lactose intolerance is projected to increase demand during the forecast period.
Europe Amaranth Market By Geography, 2022-2030
- Largest
- Fastest
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Europe Amaranth Market Dynamics
Drivers
Growing Consumer demand for Plant-Based, Gluten-Free Products to Bolster Market Growth
- Amaranth is a grain that is very nutrient-dense and high in protein, fiber, and important micronutrients. The demand for breakfast cereals, snacks, and baked goods made from amaranth has been driven by Europe's growing need for nutritious food.
- A gluten-free grain that is good for those with celiac disease or gluten intolerance is amaranth. Also, it is a source of plant-based protein that is becoming more and more well-liked among consumers who are switching to a vegetarian or vegan diet. The demand for amaranth-based products in Europe is being driven by the rising desire for gluten-free and plant-based goods.
- Amaranth is a traditional crop in South America and has long been a staple in the Andean region's native cuisines. The demand for dishes made from amaranth, such as tortillas, bread, and pasta, is being driven by the rising popularity of ethnic cuisine in Europe.
Restraints
Lack of Consumer Awareness to Hinder Market
- Though amaranth-based products are growing increasingly popular in Europe, few consumers are aware of its advantages. Many consumers may be reluctant to try new products as they're unfamiliar with the grain, which could restrain expansion.
- Relatively speaking to other grains like rice and wheat, amaranth is a somewhat expensive grain. This might discourage consumers who are concerned about costs from selecting more expensive options.
- Although amaranth is not frequently grown in Europe, the bulk of the continent's supply is imported from countries like Mexico, Bolivia, and Peru. This would limit the supply of amaranth-based products, which might limit the market's growth potential.
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Europe Amaranth Market Competitive Landscape
The market is very fragmented due to the lack of huge companies operating there. Farmers in the area are heavily reliant on imports from Asian and American countries including India, China, Brazil, and Mexico because amaranth is not a crop that is frequently grown here. Moreover, acquisition has long been a popular strategy used by businesses to enter the market, expand their clientele, and expand their market share.
Top Player’s Company Profiles
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Amaranth Bio Company
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Organic Products Sp. z o.o.
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Asklepios Seeds GmbH & Co. KG
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Flora Export S.G.L.
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Natura Viva - Agricola Salute e Benessere
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Rizos Oliva, S.L.
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Malti Proteini d.o.o.
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Nature Bio Foods BV
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Green Agro Invest LLC
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Verival Bio GmbH
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Donskoy Tabak LLC
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American Natural & Organic Spices
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Naturalsi S.A.S.
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Silesian Protein Sp. z o.o.
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BioHellas S.A.
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BioParma LLC
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Red River Foods
Recent Developments
- In 2021, The organic amaranth market is anticipated to grow as a result of new regulations for organic farming that were announced recently by the European Union. Farmers must adopt practices that promote soil health and lessen the use of synthetic pesticides and fertilizers, and the rules mandate that at least 25% of organic farmland in the EU be reserved for biodiversity.
Europe Amaranth Key Market Trends
- European consumers are growing more health conscious and seeking out food items that are natural, lightly processed, and beneficial to their health. Amaranth has become more well-known as a nutritious grain because it is free of gluten and packed with nutrients.
- Concerns about the environmental impact of the meat industry, animal welfare, and health advantages have fueled a growing movement in Europe towards plant-based diets. Amaranth has profited from this trend because it is a rich source of plant-based protein.
- Amaranth is a nutritional food that is high in protein, fiber, and minerals. It is also believed to help with heart health, lower cholesterol, and reduce inflammation. The need for items made from amaranth is probably going to increase as more people learn about these benefits.
- The creation of novel and unique amaranth-based products is an ongoing goal of manufacturers. Because of this, a variety of amaranth-based goods have been created, such cereal bars, pasta, bread, and snacks, growing the amaranth market.
Europe 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 analysis, we found that the Europe Amaranth market is the Growing consumer awareness of the product's high nutritional value and the medical benefits of using it is the key factor driving market expansion. The number of individuals working has increased over the past few years, which has raised reliance on a healthy diet. Due to a high level of consumer preference for a vegan diet, it is also anticipated that demand for superfoods like amaranth would increase over the forecasted period. Due to the target population's high-income levels in Europe, processed foods and dietary supplements are in high demand. The market is anticipated to grow in the coming years as a result of growing essential oil demand in the cosmetics sector and growing customer interest in products that promote a nutritious lifestyle. As consumer demand for goods with clear ingredient lists and natural ingredients rises, it is also anticipated that the market will be pushed by the increased usage of essential oils in the food and beverage industry. European consumers are growing more health conscious and seeking out food items that are natural, lightly processed, and beneficial to their health. Amaranth has become more well-known as a nutritious grain because it is free of gluten and packed with nutrients.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 2197.4 million |
| Market size value in 2030 | USD 5530.53 million |
| Growth Rate | 10.8% |
| Base year | 2023 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Million |
| 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 |
|
| 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 Europe 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 Europe 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 Europe 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 Europe 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 Europe Amaranth Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Europe 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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