Buckwheat Market

Buckwheat Market Outlook (2024 to 2034)

Worldwide revenue from the buckwheat market is estimated at US$ 1.57 billion in 2024 and is slated to increase at a CAGR of 4.5% to reach US$ 2.43 billion by 2034. Russia, China, and Ukraine are the leading producers of buckwheat in the world.

Buckwheat, also known as common buckwheat, belongs to the knotweed family and is cultivated for its grain-like seeds. It thrives as a short-season crop, thriving in low-fertility or acidic soils, making certain regions stand out for buckwheat demand. This increasing demand stems from its potential effectiveness in treating various diseases, including diabetes, heart diseases, high cholesterol, varicose veins, and others. The susceptibility of more people to such conditions is driving demand for buckwheat.

Demand for buckwheat products is gaining widespread momentum due to their wide range of benefits and uses. More people are considering adding buckwheat to their nutritious meals, leading to a consistent demand for these products.

Key Market Growth Drivers

• Buckwheat seeds serve as an excellent alternative to whole grains. They are rich in fiber, aiding in blood cholesterol improvement and reducing the risk of diseases like stroke, obesity, and heart disease.
• Despite its name, buckwheat is unrelated to wheat and is gluten-free. Buckwheat products are gaining prominence for their high-mineral and antioxidant properties, which enhance blood sugar control.
• Buckwheat is primarily harvested in the northern hemisphere, particularly in countries like Russia and China, attracting numerous buckwheat suppliers to these regions.
• The rising popularity of buckwheat honey is creating market opportunities. Buckwheat honey, utilized as a flour substitute, offers benefits in wound care, skin care, cough relief, and DNA mutation prevention.
• Among various milk alternatives, buckwheat milk emerges as a notable contender. Individuals opt for either roasted or sprouted buckwheat to reap its diverse health benefits.
• With increasing traction, suppliers are exploring buckwheat tea, rich in antioxidants like rutin and quercetin, known for their inflammation-reducing and blood sugar-regulating properties.
• As health consciousness grows, buckwheat, a functional pseudocereal, is garnering attention from many consumers. Consumers’ demand for healthy food alternatives is contributing to buckwheat market growth.

Report Attribute	Detail
Buckwheat Market Size (2024E)	US$ 1.57 Billion
Forecasted Market Value (2034F)	US$ 2.43 Billion
Global Market Growth Rate (2024 to 2034)	4.5% CAGR
Canada Market Growth Rate (2024 to 2034)	5% CAGR
China Market Value (2034F)	US$ 267.1 Million
North America Market Share (2024E)	23.9%
East Asia Market Share (2034F)	23.1%
Key Companies Profiled	Homestead Organics; Birkett Mills; Galinta IR Partneriai; Krishna India; Ningxia Newfield Foods; UA Global; Agrotrade Group; High Mowing Seed Company; Kaveri Seed Company Limited; AB Company Seeds Ltd,; Qingdao Sunrise Biotechnology Co. Ltd.; Gansu Zhanhua Imports & Exports Co. Ltd.; Pioneer Hi-Bred International Inc.

Which Advantages of Buckwheat are Producers Capitalizing on Worldwide?

“Rising Demand for Buckwheat Driven by Presence of Anti-cancer Polyphenols”

The diverse range of end users of buckwheat seeds is expected to contribute to the expansion of the buckwheat market size. Buckwheat seeds, classified as a pseudo-cereal, contain anti-cancer polyphenols. In addition, they are utilized to provide adequate nutrition for animals and to reduce liver fattening in beverages.

Consumption of buckwheat seeds is increasing as consumers become more informed about maintaining a balanced diet and monitoring their intake of fat, protein, and carbohydrates. This trend leads to enhanced business earnings for manufacturers.

• According to the World Health Organization (WHO), cardiovascular disease is responsible for 31% of global deaths.

With individuals at a higher risk of cardiovascular disease opting for low-fat products, there is a growing preference for healthier food choices like buckwheat seeds, which are rich in fiber and complex carbohydrates while being low in fat.

“Role of Buckwheat in Preventing and Treating Varicose Veins”

Varicose vein disorders are more common globally due to a variety of causes, such as advanced age, obesity, pregnancy, and prolonged periods of standing and sitting cross-legged.

• In India, 46.7% of women and 27.8% of men had varicose veins, while 49.3% of women and 18.9% of men experienced symptoms in 2022, according to the International Journal of Research in Medical Sciences.
• Approximately 610,000 Americans suffer from heart disease each year, according to the National Center for Chronic Disease Prevention and Health Promotion.

One of the main buckwheat market trends right now is manufacturers trying to reach a wider audience with their products by selling them on mobile applications and e-commerce platforms, as well as by using effective marketing techniques. This advancement is projected to become more well-known in the coming years and greatly accelerate market expansion worldwide.

Which Factors are Working Against Buckwheat Suppliers?

“High Cost of Premium Buckwheat and Presence of Contaminated Buckwheat Products”

Market expansion faces hindrances due to recent declines in buckwheat output, attributed to substitutes for enhancing soil fertility and documented allergic responses to buckwheat products. Reduced buckwheat production, the presence of tainted or contaminated buckwheat, and potential buckwheat allergies are factors that could impede market growth. Premium buckwheat's high cost may further constrain the market, along with limited awareness of buckwheat's benefits and competition from other superfoods.

• France has initiated a recall of a specific brand of flour after reports of several illnesses. French regulators indicated a potential contamination of buckwheat flour sold under the JP Coteau brand with Datura.

Russia-Ukraine War Impact

According to the World Bank, of all the source nations, wheat imports from Asia suffered the worst yearly reduction in the second quarter of 2022. They fell by 54% from the year before to the lowest level since 2019. However, when additional wheat from Russia and Romania was bought by Asian nations, imports returned to levels similar to those before the war in around six months. Romania, which has never been a major exporter of wheat to Asia, acted as a conduit for Ukrainian wheat to get over Russia's blockade of Ukraine's Black Sea ports.

Country-wise Evaluation

The market in Japan is forecast to expand at a CAGR of 5% from 2024 to 2034. The country is expected to occupy a buckwheat market share of 29.4% in East Asia by the end of 2034.

What’s Drawing Buckwheat Suppliers to the United States?

“Shift toward Healthier Eating Habits and Focus on Increasing Buckwheat Production”

Attribute	United States
Market Value (2024E)	US$ 166.7 Million
Growth Rate (2024 to 2034)	4.9% CAGR
Projected Value (2034F)	US$ 269.7 Million

The market in the United States is offering lucrative opportunities for buckwheat producers and suppliers as the climatic conditions in the country are favorable for buckwheat cultivation. Investments in the expansion of production capacities are driving market growth.

• Better with Buckwheat, an artisanal buckwheat snack manufacturer, plans to grow into six local and online supermarket chains by July 2024. Better with Buckwheat Crackers, the company's newest range of gluten-free products, are now permanently distributed thanks to the growth.

Why is the South Korea Market Showing Signs of High Growth?

“Government Focusing on Promoting Nutritious Diets among Population”

Attribute	South Korea
Market Value (2024E)	US$ 77.9 Million
Growth Rate (2024 to 2034)	5.2% CAGR
Projected Value (2034F)	US$ 129.9 Million

The government of South Korea understands how important it is for the population to be fit, and this has led to improvement in policies allowing several buckwheat suppliers to engage in business with local companies to improve buckwheat exports and double their profits.

• According to OEC data, South Korea stood as the 57th top global exporter of buckwheat, with exports valued at US$ 788,000 in 2022. Buckwheat products constituted South Korea's top exports for that year.
• South Korea ascended to the 20th position among the world's leading wheat importers in 2022, importing wheat worth US$ 12.3 million. Meanwhile, buckwheat ranked 909th among imported goods in South Korea for the same year, as per OEC statistics.

Category-wise Insights

Based on form, groats is expected to hold a share of 33.8% in 2024. The segment is analyzed to expand at a CAGR of 4.5% from 2024 to 2034.

Why are Consumers Choosing Buckwheat Flour Over Traditional Options?

“Rising Preference for Healthier, Easily Digestible Gluten-free Alternatives”

Attribute	Flour
Segment Value (2024E)	US$ 680.3 Million
Growth Rate (2024 to 2034)	5% CAGR
Projected Value (2034F)	US$ 1.1 Billion

Buckwheat flour is gluten-free, making it suitable for individuals with celiac disease. Its digestibility is enhanced, catering to busy lifestyles where people often lack time to rest after meals. Therefore, buckwheat flour is increasingly preferred to boost metabolism and facilitate quick return to work in today's fast-paced world.

Why are Sales of Conventional Buckwheat Holding Steady?

“Conventional Buckwheat Promoting Muscle Development and Repair”

Attribute	Conventional
Segment Value (2024E)	US$ 838.6 Million
Growth Rate (2024 to 2034)	4.4% CAGR
Projected Value (2034F)	US$ 1.29 Billion

Conventional buckwheat flour and groats are rich sources of minerals such as manganese, magnesium, zinc, iron, and folate, along with energy-boosting B vitamins. Magnesium supplements aid digestion, promote muscle development and repair, and safeguard against the detrimental impacts of stress and depression.

Market Competition

Key players in the buckwheat industry are enticing customers with discounts and special offers. They are expanding their product portfolios to offer a wider range of buckwheat-based products, catering to diverse consumer preferences and dietary needs. Companies are also forming strategic alliances with retailers, distributors, and other stakeholders to enhance market reach and distribution networks.

• Lunds & Byerlys, the only Midwest chain to stock these acclaimed crackers, recently announced its partnership with Maine Crisp, stated Dominic Messina, the company's Senior Category Manager.

Fact.MR provides detailed information about the price points of key buckwheat suppliers positioned across the world, sales growth, production capacity, and speculative technological expansion, in this new market report.

Key Segments of Buckwheat Market Research

• By Form :

  • Groats
  • Flour
  • Flakes

• By End Use :

  • Food & Beverages
    • Snacks
    • Beverages
    • Bakery Products
    • Others
  • Animal Feed
  • Cosmetics & Personal Care
  • Others

• By Nature :

  • Organic
  • Conventional

• By Region :

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa