Quinoa Seeds Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Quinoa Seeds Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The quinoa seeds market is projected to register a CAGR of 5.4% during the forecast period (2022-2027).

The COVID-19 outbreak has affected the quinoa seeds market in three ways, i.e., by directly affecting production and demand in the domestic and international markets, by disrupting the supply chain and trade movements in terms of export-import, and by its financial impact on firms and markets operating in the segment. However, the quinoa seeds market is quickly reaching its pre-COVID levels. A good growth rate is anticipated over the forecast period, driven by the economic revival in most developing nations.

Quinoa seeds are gaining attention from health-conscious consumers worldwide due to their nutritional value, gluten-free nature, and potential as a functional food ingredient. The grain is very similar to rice and can be cooked and used in the same way. Currently, the seed is used as healthy food and a tasty alternative to rice. However, the limited production of quinoa subsequently limits the growth of the market.

Quinoa is particularly considered a healthy superfood, and increasing awareness regarding its nutritional properties and health benefits led to higher demand in Europe and North America.

South America is the leading producer of quinoa seeds, with Peru and Bolivia being the largest producers globally. It is consumed as a staple food in South America. Most of the quinoa production occurs in Southern Peru and Northern Bolivia. Its consumption is expected to increase in Brazil as the number of vegan consumers in the region opting for non-animal product-based food has been increasing over the recent years. This factor is anticipated to drive the demand for healthier cereals comprised of brown rice, quinoa, amaranth, etc.

The demand for organic quinoa is rising in Europe and North America, with growing health and environmental awareness among consumers. Quinoa is considered a healthy food, and increasing awareness regarding its nutritional properties led to higher demand in Europe. Recent technological developments and research into seed varieties led to the development of varieties that can be cultivated in temperate climates. The King Abdullah University of Science and Technology (KAUST) in Saudi Arabia has successfully mapped the genetic structure of quinoa, thus allowing genetic modification, which may prove crucial in increasing the crop productivity of quinoa. Hence, the change in the consumption patterns globally, followed by increased awareness about the seed, is anticipated to drive the market during the forecast period.

South America is the largest producer and exporter of quinoa in the world. About 80-90% of quinoa imported into the European Union comes from Peru and Bolivia. The main consuming markets for South American quinoa include Italy, France, Germany, and the Netherlands, with each consuming on an average between 2000 and 6000 metric ton of quinoa per year. The rising imports from the region are primarily attributed to consumer awareness about its health benefits and nutritious properties. To meet the demand from international markets, countries such as Peru and Bolivia have ramped up their production by using high-quality seeds. Thus, with the growing consumption of quinoa worldwide, the demand for quinoa seeds is anticipated to increase during the forecast period.

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