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Amaranth Market is anticipated to exhibit a robust growth rate of 11.51% through 2023 to 2029, reaching nearly US$ 21.70 Billion

Amaranth Market

Amaranth Market

Amaranth, a pseudocereal boasting traits akin to those of the Poaceae cereal family, offers a plethora of health benefits. With high nutritional content including vitamins, fiber, minerals, and antioxidants, amaranth finds applications across various industries such as food and beverages, personal care, cosmetics, and pharmaceuticals. This comprehensive report delves into the multifaceted landscape of the global amaranth market, presenting historical data, current trends, and future projections.

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Amaranth Market Dynamics:

Rising Demand in Food & Beverage Processing: The global food and beverage processing industry's expansion drives demand for versatile ingredients like amaranth. Its nutritional profile, including vitamins, fiber, and minerals, makes it a favored choice for manufacturers aiming to enhance product nutrition and appeal to health-conscious consumers.

Emerging Trend of Natural Ingredients in Cosmetics: Amaranth's increasing popularity in personal care products and cosmetics stems from the growing consumer preference for natural and organic ingredients. With properties such as antioxidant activities and skin-nourishing benefits, amaranth finds applications in skincare formulations, driving market growth in this segment.

Health Benefits Driving Acceptance: Amaranth's numerous health benefits, including antioxidant properties, protein content, and digestive health improvements, contribute to its rising acceptance in various industries. Consumers are increasingly seeking functional foods and supplements, fostering demand for amaranth-based products.

Supply Chain Efficiency: The robust command of supply chains ensures the global availability of amaranth products, further fueling market growth. Efficient distribution networks make amaranth accessible to consumers worldwide, contributing to its market expansion.

Spiraling Cultivation and Organic Demand: The increasing demand for organic food products drives spiraling cultivation of amaranth. As consumers prioritize organic and natural options, the market for organic amaranth experiences significant growth. However, high production costs associated with organic cultivation may pose challenges to market growth.

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Amaranth Market Regional Insights:

North America, holding the largest market share of 44.47% in 2022, witnesses significant growth driven by increasing demand for squalene extracted from amaranth products. On the other hand, Asia Pacific is poised to exhibit the highest CAGR of 12.2% during the forecast period, attributed to rising disposable incomes and a large population base, especially in countries like India and China.

Amaranth Market Segmentation:

By Product Type:
Amaranth Seed: Holding the largest market share of 52.45% in 2022, amaranth seeds are rich in minerals such as calcium, iron, and phosphorus. The segment is expected to grow at the highest CAGR of 11.6% during the forecast period, driven by the demand for versatile minerals and the increasing utilization of amaranth crops.
Amaranth Oil: Extracted from amaranth seeds, amaranth oil is valued for its nutritional content and health benefits. The oil segment caters to various industries, including food and personal care, contributing to the overall market growth.
Amaranth Leaf: Recognized for its nutritional density, the amaranth leaf segment is likely to experience an upswing due to its application in food and beverage processing, pharmaceuticals, and personal care.
Amaranth Flour: With applications in various food products such as cookies, bread, granola, noodles, cereals, and pancakes, amaranth flour is anticipated to grow steadily, particularly in the food and beverage sector.

By Application:
Food & Beverages: The largest share of 62.05% in 2020 is attributed to the increased consumer acceptability and the growing trend of incorporating amaranth in ground or flour form in various food products. The gluten-free nature of amaranth makes it a suitable substitute, driving demand in the food and beverage segment.
Personal Care: With rising awareness about natural ingredients in personal care products and cosmetics, the personal care segment witnesses significant growth. Amaranth's inclusion in skincare formulations contributes to its popularity in this application.
Pharmaceuticals: The pharmaceutical segment explores the health benefits of amaranth, including anti-inflammatory and antioxidant properties. As the trend of developing novel medicines from bio-based raw materials gains momentum, the pharmaceutical application is expected to grow.
Others: This category encompasses diverse applications of amaranth in various industries, reflecting its versatility and adaptability.

By Category:
Organic: The organic segment gains traction as consumers prioritize organic and natural options. The demand for organic amaranth is driven by health-conscious consumers seeking sustainably sourced and chemical-free products.
Conventional: Conventional amaranth, while fetching lower prices per pound, still remains a significant market segment. Economic factors and pricing dynamics play a crucial role in shaping the demand for conventional amaranth.

By Sales Channel:
Hypermarket/Supermarket: Traditional retail channels such as hypermarkets and supermarkets play a crucial role in amaranth distribution, providing consumers with easy accessibility to amaranth-based products.
Retail Stores: Amaranth products are commonly found in retail stores, contributing to their widespread availability for consumers.
Online Stores: The growing trend of online shopping influences the sales of amaranth products, offering convenience and a broader reach to consumers.
Others: This category includes additional sales channels contributing to the distribution and availability of amaranth products.

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Amaranth Market Key Players:

1.Proderna Biotech Pvt. Ltd.
2. AMR Amaranth A.S.
3. Nans Products Pvt Ltd.
4. Flaveko Trade Spol. S.R.O
5. Nu-World Foods
6. Amaranth Bio Company
7. Amaranth Nord
8. RusOliva Pvt. Ltd.
9. Dk Mass S.R.O
10. Spol S.R.O
11. Health Valley
12. Amaranth Resources
13. Arrowhead Mills
14. Nu-world Amaranth
15. Irel Nans Products Pvt Ltd.
16. FlavexNaturextracteGmbh
17. Saar
18. RICHOIL
19. Nature Supply

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Key Offerings:
• Past Market Size and Competitive Landscape
● Past Pricing and price curve by region
● Market Size, Share, Size and Forecast by different segment
● Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
● Market Segmentation - A detailed analysis by growth and trend
● Competitive Landscape - Profiles of selected key players by region from a strategic perspective
● Competitive landscape - Market Leaders, Market Followers, Regional player
● Competitive benchmarking of key players by region
● PESTLE Analysis
● PORTER's analysis
● Value chain and supply chain analysis
● Legal Aspects of business by region
● Lucrative business opportunities with SWOT analysis
● Recommendations

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