Amaranth Market

Amaranth Market Size:

The global amaranth market size is expected to exhibit a growth rate (CAGR) of 9.51% during 2024-2032. The rising geriatric population, the growing preference for vegan sustenance, the increasing consumer interest in healthy lifestyles, and the penetration of essential oils in the cosmetic industry are some factors propelling the amaranth market share.

Amaranth Market Analysis:

• Major Market Drivers: The growing global cosmetics industry and the rapid penetration of manufacturers in emerging markets are driving the amaranth market growth.
• Key Market Trends: The increasing product use in various applications and the rising product popularity as a superfood are emerging as amaranth market recent developments.
• Geographical Trends: North America is dominating the amaranth market demand. The amaranth market forecast shows that Asia Pacific is also playing an important role in driving the amaranth market revenue.
• Competitive Landscape: Arrowhead Mills Inc. (Hometown Food Company), DK MASS sro, etc. are some of the amaranth market companies.
• Challenges and Opportunities: The amaranth market outlook shows that limited awareness regarding the benefits of the product might be a challenge in the amaranth market report. The amaranth market overview shows that the rising demand for plant-based foods is one of the amaranth market recent opportunities.

Amaranth Market Trends:

Growing food processing industry and gluten-free nutritional profile of the product

Due to its micronutrient and antioxidant qualities, amaranth has been widely used for skin care applications in both personal care and cosmetics. Versatility in terms of results and effectiveness remains one of the key attributes that are immensely responsible for its popularity. The product has been extremely well-liked as a health food in recent years, due to its remarkable nutritional profile and correlation with numerous health advantages, which have significantly contributed to its increased utilization in the food and beverage sector. The product is also widely acknowledged by gluten intolerants, due to its gluten-free nutritional profile. Moreover, it is rich in proteins and is rapidly being used in dietary foods and supplements to cater to the needs of the health-savvy demographic.

Introduction of organic and vegan product varieties

New businesses are concentrating on launching premium vegan and organic product alternatives. Through ongoing innovations, they are concentrating on growing their market share and productivity. New businesses are focusing on optimal business development by implementing various growth tactics. They are connecting strategically with large companies and combining their knowledge in the food and beverage, personal care, and pharmaceutical sectors. Heartbest is a food technology start-up in Mexico that that specializes in plant-based dairy products. It uses plants like quinoa and amaranth to manufacture dairy-free cheese, milk, spreads, and yogurt. It also intends to launch a butter replacement. The startup wants to establish a vegan dairy product-focused online community. This, in turn, is driving amaranth market recent price.

Increasing demand for plant-based food

At the same time, with so many individuals having gluten sensitivity and plant-based diets becoming popular, there has been an escalation in demand for both gluten-free alternatives and plant proteins. Amaranth is ideal for such dietary preferences given that it does not contain any gluten, thus driving its demand. The demand for amaranth-based products is therefore expected to increase in the near future owing to this trend. Additionally, due to its culinary uses in various salads, soups, baking, and snacks, it attracts a wide range of consumers who want healthy food that tastes great too. This multipurpose nature implies that innovators can come up with different kinds of amaranth-based products that can cater to meet specific needs of consumers depending on their lifestyles or diets.

Amaranth Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the amaranth market statistics, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on source, product type, application, and distribution channel.

Breakup by Source:

• Organic
• Conventional
   

Organic accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the source. This includes organic and conventional. According to the report, organic represented the largest segment.

A major driver of growth in the amaranth market is the organic segment, which capitalizes on consumers’ growing preference for organically and sustainably produced products. Significantly large numbers of consumers are leaning towards healthy foods and consciousness in environmental conservancy that makes them prefer organic food, which is always perceived to be healthier and better. Thus, organically grown amaranth products are produced without the application of synthetic pesticides or fertilizers and meet the preferences of consumers who value the same. Besides, the certification of the products as organic increases the trust customers have on the products, hence more sales and market share.

Breakup by Product Type:

• Grains and Seeds
• Oil
• Leaves
• Flour
• Others
   

Grains and seeds account for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the product type. This includes grains and seeds, oil, leaves, flour, and others. According to the report, grains and seeds represented the largest segment.

Protein-rich grains and seeds have been noteworthy for providing a boost to this market. Remarkably micro-nutritious commodities high in protein, essential amino acids, iron, calcium, and manganese content are particularly popular among the health-concious consumers. Furthermore, the gluten-free amenity serves individuals with dietary limitations, thus growing the demand for this food. For instance, it is sustainable to appeal across various kinds of cuisines as one can cook amaranth as porridge or use it in gluten-free baking. Notably, the nutritional content and flexibility of preparation have made amaranth grains and seeds one of the best choices for healthy sustainability.

Breakup by Application:

• Food and Beverage
  • Baby Staple
  • Cookies
  • Breakfast Cereal
  • Beverage
  • Others
• Personal Care and Cosmetics
• Pharmaceuticals
• Others
   

Personal care and cosmetics account for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the application. This includes food and beverage (baby staple, cookies, breakfast cereal, beverage, and others), personal care and cosmetics, pharmaceuticals, and others. According to the report, personal care and cosmetics represented the largest segment.

The personal care and cosmetics is a major user of amaranth due to its high nutrient profile and skin-nourishing properties. Amaranth extracts are rich in antioxidants, vitamins, and minerals and popular among people who wish to age healthily or maintain healthy skin through their skin care products. This further enhances its appeal for use in cosmetic formulations including creams and serums due to its moisturizing properties as well as ability to enhance skin elasticity. Amaranth, on the other hand, emerges as an important botanical component to meet the increasing demand for clean materials derived from vegan sources in the cosmetics industry.

Breakup by Distribution Channel:

• Hypermarkets and Supermarkets
• Retail Stores
• Online Stores
• Specialty Stores
• Others
   

Hypermarkets and supermarkets account for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes hypermarkets and supermarkets, retail stores, online stores, specialty stores, and others. According to the report, hypermarkets and supermarkets represented the largest segment.

In the expansive retail environments of hypermarkets and supermarkets, a diverse array of products is made available to consumers. These establishments often dedicate considerable display space to promotional activities that highlight the health benefits of specific products like amaranth, effectively encouraging purchases. Furthermore, there is a noticeable emphasis on organic offerings, aligning with the current trend towards healthier and sustainable eating habits. Through their extensive distribution networks and strategic marketing initiatives, hypermarkets and supermarkets play a crucial role in fostering the growth of the amaranth market, catering to the changing preferences of health-conscious consumers.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
  • Turkey
  • Saudi Arabia
  • Others
     

North America leads the market, accounting for the largest amaranth market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa (Turkey, Saudi Arabia, and Others). According to the report, North America represented the largest segment.

The rising demand for squalene, which is derived from amaranth products, is expected to drive the growth of the regional market, mainly on account of beneficial properties including anti-inflammatory, anti-oxidation, and anti-aging properties. The growing trend in developing novel medicines based on bio-based raw materials is anticipated to drive the market. The region is poised to grow further, due to rising disposable incomes and a large population base. Anti-aging products have become the most popular personal care product due to rising demand among adult age groups in the region. These factors, along with high R&D activities and the introduction of innovative products are rendering the market lucrative for global players.

Leading Key Players in the Amaranth Industry:

The market growth is driven by key players through strategic initiatives, such as product innovation, market expansion, and partnerships. Major firms engage in research and development so that they can create new products using amaranth, which meet changing consumer taste buds as well as dietary trends. Also, they exploit existing distribution channels to enter new territories, thus focusing on unexplored market segments. Collaborations alongside retailers, the food service providers among other partners enhance brand visibility as well as the increased convenience of access to them, thereby amplifying accessibility and brand visibility through collaborations with retailers amongst others. This helps make brands more visible and also easier to reach out globally among customers.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• 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
• SAAR
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Latest News:

• June 25, 2023: Flavex Naturextrakte Gmbh presented the natural extracts at the international trade fair “Cosmetic Business” in Munich.
• September 18, 2023: Country Partners Cooperative completed the acquisition of an Anselmo, Nebraska, US, grain facility from The Andersons.
• September 29, 2022: Arrowhead Mills Inc. unveiled a new look featuring a redesigned logo, refreshed packaging, a revamped website, and two new SKUs, including: Organic Oat Flour Pancake & Waffle Mix (Gluten Free) and Organic Apple Cider Pancake & Waffle Mix (Limited-Edition).

Amaranth Market Report Scope:

Key Questions Answered in This Report:

• How has the global amaranth market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global amaranth market?
• What is the impact of each driver, restraint, and opportunity on the global amaranth market?
• What are the key regional markets?
• Which countries represent the most attractive amaranth market?
• What is the breakup of the market based on the source?
• Which is the most attractive source in the amaranth market?
• What is the breakup of the market based on the product type?
• Which is the most attractive product type in the amaranth market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the amaranth market?
• What is the breakup of the market based on the distribution channel?
• Which is the most attractive distribution channel in the amaranth market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global amaranth market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the amaranth market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global amaranth market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the amaranth industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.