Global Quinao Market - 2023-2030

Global Quinao Market - 2023-2030

Global Quinoa Market reached US$ 931.12 million in 2022 and is expected to reach US$ 1749.13 million by 2030, growing with a CAGR of 8.2% during the forecast period 2023-2030.

Quinoa crop belongs to the family of Amaranthaceae and is considered a rich source of protein, fiber and other nutrients. The crop is cultivated mostly in the farms of Bolivia and Peru for its edible seeds. Quinoa is gaining significant market potential owing to rapidly surging demand from the food industry. The grain is available in multiple variations including red, white, and black and is used by the food, cosmetics, and pharmaceutical industries.

The growing demand for plant-based protein meals coupled with health concerns associated with animal protein drive the growth of the global quinoa market. The industry is gaining traction from the development of novel quinoa-based food products such as protein bars and ready-to-eat quinoa products. These grains are used in salads, pastas, breakfast cereals and ready-made meals.

Europe dominated the global quinoa market. Europe has been highly dependent on imports of quinoa from countries such as Peru and Bolivia. The region has various companies involved in the trading of quinoa-based products including various countries such as Germany, France, U.K. and others. For instance, BIOFAIR, for example, sells various organic-certified quinoa products from Bolivia and Ecuador, ranging from flour and flakes to snacks.

Dynamics

High Demand for Plant-Based Nutrients

The increasing consumer knowledge regarding the health concerns associated with the intake of animal-based protein is driving them towards alternative protein sources to meet their daily requirements. The high consumption of animal-based products may lead to unhealthy conditions. In addition, the rising environmental concerns and worry about animal cruelty, motivating consumers to let go of the animal-based diet and adopt a vegan diet.

Veganism has become a trend. The World Animal Foundation estimates that there are approximately 88 million vegans in the world. The increasing vegan population is demanding the plant-based nutritional products. According to USDA, quinoa that is cooked provides about 4.4 gr of protein per 100 gr providing consumers with the alternative protein source for animal-based protein.

Potential Nutritional Benefits of Quinoa

Quinoa is a grain-like crop that is rich in protein, fiber, and other nutrients. The potential nutritional benefits of quinoa are the primary force behind the growth of the global quinoa market. Also, these grains contain lysine, riboflavin, iron and magnesium. According to USDA, quinoa that is cooked provides a total dietary fibre of 2.8 gr, 4.4 gr protein and 21.3 gr carbs.

Quinoa is a rich source of minerals such as calcium, iron, potassium, magnesium, phosphorus and others, making it a nutritional grain for its use in multiple applications. According to World Population Review 2023, approximately 2.5 % of adults in Finland, 1.43% of Algeria and 1.3% of Turkey are gluten intolerant. With the increasing gluten intolerant cases there is a greater need for gluten-free sources of nutrition. Quino being a gluten-free grain, is recommended in gluten-intolerant people's diets.

High Price of Quinoa

Quinoa is an expensive grain with specific cultivation and processing requirements compared to that of rice and wheat. The price fluctuations of this grain hinder market growth. The crop has dependence on a limited geographical area creates vulnerability to weather events and potential supply chain disruptions. Lack of adequate infrastructure in some producing regions can hinder efficient farming practices and product losses, limiting the product reach and making it expensive for price-sensitive consumers.

Segment Analysis

The global quinoa market is segmented based on type, nature, product, distribution channel, end-user and region.

Increased Demand for Nutritional Ingredients in the Food Industry

The global quinoa market is segmented based on end-user into food, cosmetic and pharmaceutical industries. The food industry accounted for the largest share of the global market. The majority of the quinoa produce is catered to provide the dietary requirements of the consumers. The fast-paced lifestyles of people have driven the need for on-the-go meals that ensure the health and nutritional requirements. Grains such as quinoa are included in such recipes due to their high protein and fiber content.

Quinoa grains are largely used in cereal mixes, salads, soups, pasta and other snacks. The demand for value-added quinoa-based products such as flakes, flour and bars is surging with interest from the millennial population, driving the segment growth. The rapidly growing demand for breakfast cereals and the evolution of quinoa-based protein bars and flakes are likely to boost the market growth in the younger population.

Geographical Penetration

High Imports of Quinoa in Europe

Europe dominated the global quinoa market. According to CBI, Ministry of Foreign Affairs, quinoa has become very popular in Europe due to its exceptional nutritional profile. With its high protein content, it is a popular choice for health-conscious consumers, vegans and vegetarians. Germany is also the second-biggest market in the world for Fair Trade products, in which quinoa is one of the most recognised grains.

Europe has been highly dependent on imports of quinoa from countries such as Peru and Bolivia. According to CBI, the Ministry of Foreign Affairs, Peru, Bolivia and Ecuador are responsible for 99% of the European import of quinoa while India, Canada, Colombia, Turkey and U.S. contribute to the minor roles.

France and Germany are leading in quinoa consumption in Europe. To meet consumer demand, manufacturers are also introducing new products into the market. The development of new food products with quinoa is another key factor in the European market. The widening range of quinoa-derived value-added products will surge the demand for quinoa grains in the region.

Competitive Landscape

The major global players in the market include Andean Valley Corporation, The British Quinoa Company, Northern Quinoa Production Corporation, Shri Mahavir Agritech, Cerio Exports Private Limited, Ardent Mills, MDECA Group, Yoga Bar, Organic Products India and Agrophilia.

COVID-19 Impact Analysis

The COVID-19 pandemic moderately impacted the global quinoa market. The market faced both positive and negative impacts during the pandemic time. The pandemic has disrupted global supply chains, including the procurement of raw materials and transportation of goods. The interrupted trade activities highly caused challenges for the producers and end-users in trading the products.

The pandemic has influenced consumer preferences and purchasing behaviours. Health and wellness considerations have become more prominent, leading to an increased interest in healthier and natural diet preferences. The availability of various products through quinoa grains in their intermediate and processed stages increased the sales of the market with the help of e-commerce websites.

By Type
• Red Quinoa
• White Quinoa
• Black Quinoa
• Others

By Nature
• Organic
• Conventional

By Product
• Quinoa Grains
• Intermediate Products
• Processed Products

By Distribution Channel
• Supermarkets and Hypermarkets
• Convenience Stores
• Online Retail
• Others

By End-User
• Food Industry
• Cosmetics Industry
• Pharmaceutical Industry
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In March 2023, The J.M. Smucker Company, an American manufacturer of food and beverage products, introduced a new line of black quinoa products inclduing black quinoa flakes, black quinoa pasta, and black quinoa granola.
• In June 2023, Scientists at WSU and Brigham Young University today announced the release of Cougar, Shisha, and Gikungu, new varieties of quinoa.
• In October 2020, Ingredion Inc. expanded its plant protein range with the launch of Homecraft Quinoa 112 flour in the United States and Canada.

Why Purchase the Report?
• To visualize the global quinoa market segmentation based on type, nature, product, distribution channel, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of quinoa market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global quinoa market report would provide approximately 78 tables, 74 figures and 225 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies