Amaranth Market by Product (Amaranth Flour, Amaranth Leafs, Amaranth Oil), Sales channel (Offline Stores, Online Stores), End-User - Global Forecast 2024-2030

Amaranth Market by Product (Amaranth Flour, Amaranth Leafs, Amaranth Oil), Sales channel (Offline Stores, Online Stores), End-User - Global Forecast 2024-2030

The Amaranth Market size was estimated at USD 10.24 billion in 2023 and expected to reach USD 11.21 billion in 2024, at a CAGR 9.43% to reach USD 19.26 billion by 2030.

Amaranth is a term that refers to a group of more than 60 different species of grains that are innately gluten-free and high in protein, fiber, micronutrients, and antioxidants. These grains were once considered a staple food in the Inca, Maya, and Aztec civilizations. Amaranth is not technically a cereal grain such as wheat or oats but shares a comparable set of nutrients and is used in similar ways. Increasing awareness of the health benefits associated with amaranth consumption, especially among health-conscious consumers, has driven the utilization of amaranth. Furthermore, a shift towards plant-based diets has boosted the demand for amaranth as a nutritional and gluten-free food option. However, the chances of microbial contamination of amaranth grain can lead to product recalls of the product containing it. Additionally, difficulties associated with the cultivation of amaranth and the susceptibility of the herb to pests and insects hampers the growth of the industry. However, key players are constantly exploring novel methods of cultivation and incorporating sustainable practices in the production of amaranth. Research into high-yield and disease-resistant amaranth strains to optimize production and crafting targeted marketing campaigns and educational programs to increase the visibility and consumer knowledge of amaranth benefits can lead to new avenues of growth for the industry.

Regional Insights

In the United States, the amaranth market has shown a growing trend as consumers seek healthy, gluten-free, and alternative grain options. The increasing interest in plant-based diets and organic food products has propelled the demand for amaranth. Initiatives such as the U.S. Department of Agriculture's (USDA) National Organic Program have encouraged organic farming practices. Investments are channeled towards innovative food startups that incorporate amaranth in snacks, cereals, and health bars. In EU countries, there is a significant demand for amaranth driven by the clean label movement and preference for non-GMO products. Amaranth fits well with the European Commission's strategies for health and sustainability, and the 'Farm to Fork strategy has created an environment conducive to the growth of the amaranth market. The consumer's increasing preference for ancient grains has led to a surge in amaranth product offerings across supermarket shelves. The EU's stringent food safety regulations also ensure a high standard of amaranth products. In the Asia Pacific region, there is a diverse consumer need, ranging from traditional uses of amaranth in local cuisine to modern health-focused products. Furthermore, growing awareness about the benefits of maintaining a healthy, balanced, and organic diet can create demand for amaranth in this region.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Amaranth Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Rising preference for natural and healthy food and cosmetic products
• Wider availability of amaranth products through retail and online sales channels
• Government initiative promoting the use and production of amaranth

Market Restraints

• Adverse recalls of amaranth-based products worldwide

Market Opportunities

• High R&D developments and introduction of advanced amaranth-derived products
• Increasing demand for nutraceutical and post-workout health drinks

Market Challenges

• Allergic reactions and health concerns associated with excessive consumption of amaranth

Market Segmentation Analysis

• Product: Awareness about benefits of consuming a plant-based diet driving preference for amaranth flour
• Sales hannel: Growing preference for convenience shopping driving inclination towards online stores
• End-User: Rich nutritional and dietary content of amaranth driving its adoption in food & beverage items

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Amaranth Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Amaranth Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Evonik's Amaranth Oil-Based Squalene Phytosquene is Available for Clinical and Commercial Use in Pharmaceutical Applications

Evonik has introduced PhytoSquene, marking a significant advancement as the first amaranth-derived squalene that conforms to Good Manufacturing Practice (GMP) standards aimed at adjuvant applications in injectable medicines. This innovative product caters to the critical need for a reliable, non-animal-based squalene source, traditionally sourced from shark liver oil, thereby addressing concerns around supply security for pharmaceutical uses. Evonik's Nutrition & Care division, under its life sciences arm, is dedicated to the nexus of health and sustainability.

Seeds of Change Launches New Innovative Super Grains

Seeds of Change launched Super Grains, their latest culinary innovation, to enrich the organic food market. This new range promises an infusion of flavor and nutrition, bridging the gap between healthful eating and gourmet taste. Among the standouts is the Organic Super Grains Smoky Southwest edition, which provides an easy-to-prepare option, ideal for crafting diverse rice sides and bowls while maintaining a commitment to wholesome eating.

Mexican Brand Sigma Launches Amaranth-Based Snack in the US Market

Sigma, a Mexican company, expanded into the U.S. market with the launch of the Chocke-Obleas snack that infuses the nutritious properties of amaranth into a delightful treat. This unique product harmoniously blends the rich flavors of chocolate with the crunchiness of artisan wafers and popped amaranth, available in two indulgent variants: chocolate and amaranth.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Amaranth Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Amaranth Market, highlighting leading vendors and their innovative profiles. These include Amaranth Beteiligungs GmbH, Andersons, Inc., Archer Daniels Midland Company, Ardent Mills, Arrowhead Mills by Hometown Food Company, Bob's Red Mill Natural Foods, Inc., Cargill, Incorporated, Conscious Food Pvt Ltd., DK MASS s.r.o., Eden Brothers, Eden Seeds, Erbology Ltd., Everwilde Farms, Inc., Hudson Valley Seed Company, Jiwa by Ravikamal Roller Flour Mills Pvt Ltd., Kilaru Naturals Private Limited, Kitazawa Seed Company, KV Agro Products Pvt. Ltd., Medikonda Nutrients, Nans Products, Nature Bio-Foods Ltd., NOW Health Group, Inc., Organic Tattva by Mehrotra Consumer Products Pvt. Ltd., Patel Agro Foods Industries, Pure Indian Foods, Rapid Overseas, SHILOH FARMS, Smart Organic AD, TBOF Foods Pvt. Ltd., and Woodland Foods, Ltd..

Market Segmentation & Coverage

This research report categorizes the Amaranth Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Product
• Amaranth Flour
• Amaranth Leafs
• Amaranth Oil
• Amaranth Seeds
• Sales channel
• Offline Stores
• Online Stores
• End-User
• Food & Beverage
• Personal Care & Cosmetic
• Pharmaceuticals
• Region
• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year