Amaranth Market to Hit USD 18.6 Billion by 2032, Driven by Rising Demand for Automation and Remote Working Tools

The global amaranth market is set to grow from USD 7.1 billion in 2023 to USD 18.6 billion by 2032, driven by increasing demand for gluten-free, plant-based products and expanding health food markets. Learn more from Acumen Research.

Acumen Research and Consulting, a leading provider of market research and business consulting services, is pleased to announce the release of its latest report on the Global Amaranth Market. The report projects that the market size, which was valued at USD 7.1 billion in 2023, will achieve a staggering USD 18.6 billion by 2032, growing at an impressive compound annual growth rate (CAGR) of 11.3% from 2024 to 2032.

Amaranth, a versatile and highly nutritious grain, is gaining rapid popularity across multiple industries, including food and beverage, personal care, and pharmaceuticals. The increasing consumer demand for gluten-free, plant-based, and organic products, coupled with growing awareness of the nutritional benefits of amaranth, is driving market expansion globally.

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Amaranth Market Overview:

According to the report, North America led the market with a valuation of USD 3 billion in 2023, while the Asia-Pacific region is expected to experience the highest growth rate, recording a CAGR of over 12% during the forecast period. This growth is fueled by rising health consciousness and an increased focus on sustainable and organic food sources.

In terms of product segments, amaranth seeds alone generated over USD 2.8 billion in revenue in 2023. The personal care sub-segment, benefiting from amaranth's skin-nourishing properties, accounted for approximately 50% of market share in 2023.

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Amaranth Market Drivers:

1. Growing Demand for Gluten-Free Products
One of the primary factors driving the growth of the global amaranth market is the increasing demand for gluten-free foods. With more consumers being diagnosed with celiac disease and others adopting gluten-free diets for health reasons, amaranth has emerged as a popular grain alternative due to its lack of gluten and high nutritional value. The rising health food trends, particularly in developed regions, are boosting the market.
2. Nutritional Superiority of Amaranth
Amaranth is renowned for being rich in protein, fiber, vitamins, and essential minerals like magnesium and phosphorus. Its high lysine content-a key amino acid-makes it particularly attractive to consumers seeking plant-based protein alternatives. Amaranth's health benefits have been further highlighted in recent studies, which show its potential in reducing cholesterol, boosting the immune system, and supporting heart health.
3. Popularity of Plant-Based Diets
The global shift toward plant-based diets, driven by concerns over animal welfare, environmental sustainability, and health benefits, has significantly contributed to the amaranth market's growth. With more consumers embracing vegetarian, vegan, and flexitarian lifestyles, the demand for plant-based food products, including amaranth, is expected to remain strong.
4. Expansion of Organic and Health Food Markets
The organic food market is on a continuous rise as more consumers opt for chemical-free, non-GMO food products. Amaranth, which is often grown using sustainable practices, fits into this trend perfectly. The health food sector's expansion, along with the rise of specialty diets, is providing ample opportunities for amaranth-based products to thrive in the global market.

Amaranth Market Restraints:

Despite its tremendous growth potential, the amaranth market faces certain challenges.

1. Limited Consumer Awareness in Some Regions
While amaranth enjoys growing popularity in North America and Europe, awareness remains limited in certain developing regions. This lack of knowledge about the grain's benefits could hinder market growth, especially in areas with strong local grain preferences.
2. High Production Costs
Amaranth's relatively higher production costs compared to more traditional grains, such as wheat and corn, pose a challenge. These costs are primarily due to the labor-intensive harvesting process and the small-scale nature of most amaranth farming operations.
3. Supply Chain and Distribution Challenges
Due to its relatively niche market, amaranth's supply chain and distribution channels are not as robust as those of other grains. This can lead to difficulties in ensuring consistent availability and pricing in certain markets.

Amaranth Market Opportunities:

1. Development of New Amaranth-Based Products
As consumer demand for innovative food and personal care products grows, there is significant opportunity for the development of new amaranth-based items. Companies can explore products ranging from amaranth-infused cereals and snack bars to skincare products that leverage its nutrient-dense properties.
2. Expansion into Emerging Markets
Emerging economies, particularly in the Asia-Pacific and Latin American regions, represent untapped markets for amaranth products. As these regions experience increased health awareness and rising disposable incomes, demand for high-quality, nutritious food products is expected to grow, providing an opportunity for market expansion.
3. Organic and Non-GMO Labeling
With consumer preferences shifting toward clean-label products, there is potential for companies to capitalize on the organic and non-GMO certifications for amaranth products. These labels are increasingly seen as important quality indicators in the health-conscious consumer market.

Key Amaranth Market Segments:

By Product Type
• Amaranth Seeds
• Amaranth Oil
• Amaranth Leaves

By Application
• Food & Beverages
• Personal Care
• Pharmaceuticals
• Animal Feed

By Region
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

Amaranth Market Competitive Landscape:

The amaranth market is characterized by a mix of established players and emerging companies. Some of the key players operating in the market include:

• Amruth Organic Foods
• Proderna Biotech
• Organic India Pvt. Ltd.
• Bio Amaranth Inc.
• Flavex Naturextrakte GmbH
• Hu Organics
• Now Foods

These companies are focusing on expanding their product portfolios, leveraging organic certifications, and enhancing their global distribution networks to gain a competitive edge.

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Amaranth Market Conclusion:
The global amaranth market is on a robust growth trajectory, supported by shifting consumer preferences toward health-conscious, plant-based, and gluten-free diets. While challenges such as limited awareness and high production costs remain, the market offers significant opportunities for growth, particularly in emerging economies and through the development of innovative products.

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