The global amaranth market grew at a CAGR of around 11% during 2015-2020. Amaranth belongs to the class of pseudocereals that exhibit similar properties as that of the Poaceae cereal family, including wheat, barley, oats, etc. It contains a rich amount of vitamins, fibers, minerals, antioxidants, etc. Amaranth offers numerous health benefits in enhancing metabolism, reducing inflammation, lowering blood cholesterol levels, improving digestion, etc. It is widely consumed by individuals suffering fromcoeliac coeliacdisease or gluten intolerance. Amaranth finds extensive applications across diverse industries, including food and beverages, personal care, cosmetics, pharmaceuticals, etc.
The rising consumer concerns towards the high-prevalence of gluten-intolerant disorders are primarily driving the demand for amaranth. Furthermore, the growing incidences of numerous lifestyle diseases, such as obesity, diabetes, gastrointestinal ailments, etc., due to the consumption of high-calorie food products are also propelling the market for healthier and gluten-free alternatives, including amaranth. Additionally, the hectic consumer work schedules and sedentary lifestyles are bolstering the demand for convenient and ready-to-eat food options, such as amaranth-based porridge, breakfast cereals, pancake mix, etc. In line with this, the increasing popularity of packaged and processed product variants infused with several innovative flavors, such as walnut, honey, cinnamon, maple, etc., is also catalyzing the global market for amaranth. Moreover, the growing adoption of amaranth in numerous cosmetics and personal grooming items based on its numerous benefits in skin nourishment, anti-aging, dark spot reduction, anti-inflammation, etc., is further propelling the product demand. In the coming years, the rising demand for organic and vegan product variants that are free from allergens, chemicals, synthetic preservatives, etc., will continue to drive the global market for amaranth. Looking forward, IMARC Group expects the global amaranth market to continue its strong growth during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global amaranth market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, source, product type, application and distribution channel.
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The competitive landscape of the industry has also been examined with some of the key players being Arrowhead Mills Inc. (Hometown Food Company), DK MASS sro, Flaveko Trade spol. s r.o., Flavex Naturextrakte Gmbh, Health Valley Foods Inc. (The Hain Celestial Group Inc.), Nans Products, The Andersons Inc., Proderna Biotech Pvt Ltd and SAAR.
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