Amaranth Market is to grow at 11.51 Percentage CAGR, with Europe leading the market through 2030

Amaranth Market to Hit USD 24.19 Bn by 2030

Amaranth Market was USD 11.28 Bn in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 11.51 % from 2023 to 2030, reaching USD 24.19 Bn by 2030. Amaranth is a beneficial supplement to diets that prioritize health since it is high in protein, fiber, and vital minerals. High antioxidant content enhances its popularity as a superfood. Growing spiraling cultivation has increased the demand for organic food across the globe. Because of its antioxidant qualities, amaranth is now used in cosmetics and cosmetic goods, broadening its appeal beyond the food sector. Amaranth showing status as a gluten-free, nutrient-rich alternative to traditional grains aligns with this trend. In the United States according to the survey of 2023, around 16% of U.S. consumers are familiar with amaranth by name, but only 5% have tasted it.

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Amaranth Market Segmentation

By Product: Amaranth Seed is the largest segment in various applications like F&B, personal care, and pharmaceuticals. Amaranth Oil has a high content of fatty acids and squalene, which is widely used in cooking, skincare, and dietary supplements. Amaranth Leaf is consumed for its high iron and calcium content and is used in various dishes as it has a large variety of health benefits. Amaranth Flour is used in baking as it is gluten-free and valued for its protein and dietary fibers.

By Application: In F&B, its high protein and fiber content make it a valuable ingredient that is used in various food products like breakfast cereals, gluten-free flour, snacks, and baked goods. The pharmaceuticals segment aims to promote overall health and wellness. Amaranth is infused with antioxidants and vital fatty acids that are a useful component of dietary supplements.

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Amaranth Market Regional Analysis

In the United States increasing demand for natural and organic products, with amaranth being acknowledged for its high fiber and protein content and other nutritional advantages. In 2023, the North American amaranth market was valued at approximately USD 1.48 billion.

Germany held 17.6% of the total sales share in the European amaranth market in 2020. With a sizable customer base and a high degree of awareness regarding the negative effects of artificial flavors and substances used in food and drinks as well as cosmetic items.

China is becoming the world's top producer of amaranth due to its ideal climate. The nation's dedication to amaranth is demonstrated by the more than two million acres it has set aside for its production.

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Amaranth Market Competitive Landscape

Arrowhead Mills Inc. (Hometown Food Company): In 2023, Mills acquired Birch Benders. In January 2024, Mills wholly owned Brynwood Partners VII L.P., by May 2024, sources indicated that the sale process had been paused.

Proderna Biotech Pvt Ltd is REACH compliant in accordance with EU standards and has certifications such as NPOP, NOP, EU, ISO 22000:2018 (HACCP), FSSC:22000, Halal, and Kosher.

The Andersons Inc.: In November 2024, The Andersons acquired a majority ownership stake in Skyland Grain, LLC, which was operating in Southwest Kansas, Northwest Oklahoma, Eastern Colorado, and Texas. In July 2024, Andersons acquired ACJ International.

Conclusion

Amaranth's growing popularity is a result of its use in organic farming and its incorporation into sustainable agricultural methods.
The market for amaranth exhibits great potential due to its nutritional profile, adaptability, and compatibility with emerging sustainability, wellness, and health trends.
Increase in a variety of industries, amaranth's place in the world food market is anticipated to grow even further, offering businesses the chance to develop and take advantage of new customer demands.

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