Amaranth Market

Amaranth Industry Outlook (2022-2032)

The global amaranth market is valued at around US$ 9.2 billion in 2022 and is projected to increase at a stellar CAGR of 10.3% to attain a valuation of US$ 24.6 billion by 2032.

The cosmetics & personal care segment holds the largest market share. This is attributed to amaranth products being combined with distinguished ingredients supporting the normal functioning of the skin and aiding in smoothening wrinkles.

Report Attributes	Details
Amaranth Market Size (2022E)	US$ 9.2 Billion
Forecasted Market Value (2032F)	US$ 24.6 Billion
Global Market Growth Rate (2022-2032)	10.3% CAGR
North America Market Share (2022)	26.2%
Europe Market Share (2022)	23.3%
Key Companies Profiled	Van’s International Foods Inc. Pure Inc. Mary’s Gone Crackers Inc. Natures Bakery Luke’s Organic Mukushi Foods Nova-Lux Group LLC Organic Products India Kilaru Naturals Private Limited NOW Foods Bob’s Red Mill Natural Foods

Sales Analysis of Amaranth (2017-2021) Vs. Market Outlook (2022-2032)

According to Fact.MR, a market research and competitive intelligence provider, the global amaranth market is expected to surge ahead at a CAGR of 10.3% from 2022 to 2032.

Amaranth is classified to be a pseudo-cereal as its nutritional profile is similar to that of other grains such as wheat and rice, and this has increased its worth. The grains are ground to make amaranth flour that acts as a substitute for other flour.

This flour provides a variety of nutrients, proteins, amino acids, vitamins, and minerals as compared to other grains. It is similar to quinoa in some ways as both are naturally gluten-free and good sources of protein. Amaranth is considered to be a grain because its flowers are made up of minuscule grain-like buds.

There are several health benefits of amaranth, which include gluten-free, lowers cholesterol levels, anti-inflammatory properties, fights against cancer, lowered blood pressure, a rich source of protein, a good amount of lysine as compared to other vegetables, high fiber, a rich source of minerals & vitamins, and it boosts the immune system.

Why is Demand for Amaranth Rising Rapidly across Regions?

“Increasing Food Processing Industry and Gluten-free Nutritional Profile of Amaranth Driving Market Revenue”

Amaranth has numerous health benefits and is used as a dietary staple. In recent years, amaranth has been gaining immense popularity as a health food and this popularity is likely to trigger the adoption of amaranth in functional food applications. Impressive nutrient profile and association with multiple health benefits have been highly instrumental in boosting the adoption of amaranth in the food and beverage industry.

It has been extensively adopted for skin care applications, both personal care and cosmetics, on the back of its micronutrient and antioxidant abilities. Versatility in terms of results and effectiveness remains one of the key attributes of amaranth that is immensely responsible for its surge in popularity.

Amaranth is also widely acknowledged by gluten intolerants, owing to its gluten-free nutritional profile. Moreover, amaranth is rich in proteins and is rapidly being adopted in the case of dietary foods and supplements to cater to the needs of the health-savvy demographic.

The competency of amaranth in promoting bone and brain health has fostered its prominence as one of the widely celebrated ancient grains. The rising trend of consuming natural and organic products promoting health and wellness is likely to create favorable circumstances for the adoption of amaranth over the coming years.

What Strategies are New Brands Employing to Gain Ground?

“Product Enhancement and Introduction of Organic & Vegan Product Varieties”

New companies are focusing on the introduction of high-quality organic & vegan product variants. They are focusing on increasing both productivity and their market share through continuous developments.

By putting different growth approaches into practice, new businesses are concentrating on optimum business development. They are forming strategic connections with major firms and integrating their expertise in the pharmaceutical, food & beverage, and personal care industries.

• Heartbest is a Mexican food technology start-up that specializes in plant-based dairy products. It makes dairy-free cheese, milk, spreads, and yogurt using plants such as quinoa and amaranth, and has plans to introduce a butter substitute as well. The company hopes to create an online community centered on vegan dairy products.

How is the Amaranth Market Performing on a Regional Level?

“Rising Demand for Vegan Supplements and Growing Awareness about Benefits of Amaranth Driving Market Growth across Regions”

North America is dominating the global amaranth market with 26.2% share. The rising consumer demand for naturally derived and organic products coupled with the rising demand for vegan supplements is propelling the market growth.

Furthermore, the escalating consumption of functional foods/drinks by consumers owing to less consumption of sugary carbonated drinks is to support market growth in the region over the coming years.

Europe accounts for 23.3% share of the global amaranth market. The growing awareness about the benefits of amaranth coupled with the burgeoning trend in the cosmetics industry leading to the development of innovative products has further boosted the market growth in the region.

Which Category of Amaranth is Set to Garner Highest Market Share?

“Growing Awareness among Consumers about Consuming Organic Amaranth”

Based on category, the amaranth market is segmented into organic and conventional. People have become extremely health conscious and are consuming organic products instead of chemically treated products. For more than 8,000 years, people have consumed cereals and grains to satisfy their nutritional requirements.

There are different types of grains available with unique nutrients such as wheat, oats, rice, maize, millet, barley, and rye. Though amaranth is considered a weed by most of the world, it is being grown like a vegetable and a grain-like seed for more than a thousand years. Demand for amaranth is growing owing to the number of nutrients that are present in it.

There are certain valuable phenolic compounds, antioxidants, minerals, and vitamins that are present in these grains that are highly beneficial for human health.

All the above-listed factors are estimated to enhance the consumption of organic amaranth over the coming years.

Competitive Landscape

Key players use a variety of marketing tactics, including developments, alliances, and agreements. Amaranth providers use new product creation and enhancement as a strategic way to enhance their market position among consumers.

For instance :

• In 2019, Epicurean Dairy UK Ltd. launched Brekkie, a new breakfast option with split-pot yogurt. It comprises unsweetened yogurt combined with puffed buckwheat, fruit compote, amaranth, quinoa, and linseed granola grains. This product, launched under the brand name 'The Collective', is available in three flavors - mango, raspberry, and passion fruit.

Key Segments Covered in Amaranth Industry Research

• Amaranth Market by Product Form :

  • Amaranth Seeds
  • Amaranth Leaves
  • Amaranth Flour
  • Amaranth Oil

• Amaranth Market by Category :

  • Organic Amaranth
  • Conventional Amaranth

• Amaranth Market by Application :

  • Food and Beverages
    • Bakery and Confectionery
    • Snacks
    • Condiments
  • Pharmaceuticals
  • Cosmetics and Personal Care
  • Others

• Amaranth Market by Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa