The amaranth market is expected to grow at a CAGR of 10.3% until

USA, Rockville MD, 26 Jul. 28, 2022 (GLOBE NEWSWIRE) — Fact.MR, a market research and competitive intelligence provider, publicly states that the world amaranth market would be worth US$9.2 billion in 2022 and would witness a remarkable CAGR of 10.3% from 2022 to 2032. Amaranth products are combined with exclusive ingredients, in order to add to the smoother functioning of the skin, thus allowing the elimination of wrinkles. As such, the personal care and cosmetics segment is expected to dominate the amaranth market.

Amaranth falls into the category of “pseudo-cereals” because it has a similar nutritional profile to other cereals such as rice and wheat. It is quite similar to quinoa as both are gluten free and good sources of protein.

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Amaranth flowers consist of small, smile-like buds. Amaranth helps fight cancer, low blood pressure and cholesterol levels. It is at the level of lysine compared to other vegetables and contains a high amount of vitamins and minerals. It helps to strengthen the immune system.

It has been widely adopted for skincare applications, both personal care and cosmetics, due to its micronutrient and antioxidant capabilities. Versatility in terms of results and effectiveness remains one of the key attributes of amaranth which is immensely responsible for its rise in popularity.

How is the Amaranth Market performing at the regional level?

“Rising demand for vegan supplements and rising awareness about the benefits of amaranth are driving market growth across all regions”

North America dominates the world amaranth market with a share of 26.2%. Rising consumer demand for naturally derived and organic products coupled with rising demand for vegan supplements is propelling the growth of the market.

In addition, increasing consumption of functional food/drinks by consumers owing to less consumption of sugary carbonated drinks is expected to sustain the market growth in the region over the coming years.

Europe represents 23.3% of the world amaranth market. Rising awareness of the benefits of amaranth coupled with the emerging trend in the cosmetics industry leading to the development of innovative products has further boosted the market growth in the region.

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Key segments covered by the Amaranth Industry survey

  • Amaranth Market by Product Form:
    • Amaranth seeds
    • Amaranth leaves
    • Amaranth flour
    • Amaranth oil
  • The amaranth market by category:
    • Organic amaranth
    • Conventional amaranth
  • Amaranth Market by Application:
    • Food and drinks
      • Bakery and Confectionery
      • Snacks
      • Seasoning
    • Medications
    • Cosmetics and personal care
    • Others
  • Amaranth market by region:
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa

Competitive landscape

Major participants use product improvements as a key strategy to hold their own in the midst of fierce competition.

  • Epicurean Dairy UK Ltd., in 2019 launched “Brekkie”. It appears as a new breakfast option. It makes an unsweetened yogurt combined with puffed buckwheat, amaranth, fruit compote, flax seed granola and quinoa seeds. It is marketed under the brand name “The Collective” and available in 3 flavors – passion fruit, raspberry and mango.
  • Heartbest is a Mexico-based food tech startup. It specializes in various plant-based dairy products. It’s in milk, dairy-free cheese, spreads, and yogurt made with amaranth and quinoa. Butter substitute is also on the cards. The other plan on the anvil is the creation of an online community around vegan dairy products.

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The key players in Amaranth Market

  • Van’s International Foods Inc.
  • Pure inc.
  • Mary’s Gone Crackers Inc.
  • Natures Bakery
  • Organic Luke
  • Mukushi foods
  • Nova-Lux Group LLC
  • Organic products India

Main takeaways from Amaranth Market research

  • By the end of 2022, the market is expected to reach a global market size of US$9.2 billion.
  • Globally, North America accounted for more than 26.2% of revenue in 2022.
  • The global amaranth market is expected to reach US$24.6 billion by 2032.
  • Growing demand for vegan supplements is expected to maintain the momentum of the amaranth market.

Knowledge of Fact.MR domain in Food and drinks

Expert analysis, actionable insights, and strategic recommendations from Fact.MR’s highly experienced Food & Beverages team help clients around the world meet their unique business intelligence needs.
With a repository of over a thousand reports and over a million data points, the team has analyzed the Food & Beverages division in over 50 countries for over a decade. The team provides unparalleled end-to-end research and advisory services.

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