The global amaranth market size is anticipated to reach USD 13.89 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 11.3% during the forecast period. Presence of rare elements such as squalene, oleic acid, stearic acid, and tocopherols, which help in boosting bone strength, reducing inflammation, repairing tissues, while providing numerous other health benefits, is projected to play a crucial factor in fueling the demand for amaranth over the forecast years.
Amaranth byproducts find applications in various industries such as dietary supplements, cosmetics, pharmaceuticals, and food additives. Growing geriatric population, for which the product is beneficial in several medical conditions, is poised to stir up the demand for amaranth in the pharmaceutical sector over the forecast period.
Amaranth contains a high percentage of proteins, which enhance post-workout recovery process of muscles. Recent trends, such as hectic and urban lifestyles, surging adoption of on-the-go meals, and increasing awareness regarding fitness among working population, are likely to boost the demand for low-cost protein sustenance over the forecast period. Amaranth oil also possesses anti-inflammatory properties, which help prevent hazards of allergies.
Amaranth seeds and leaves have a high concentration of proteins, antioxidants, and phytosterols, making them one of the most sought-after grains in the market. Apart from high concentration of proteins, amaranth seeds contain specific peptides known to prevent activity of free radicals and reduce inflammation. Presence of anti-inflammatory molecules can be helpful in alleviating conditions such as gout and arthritis.
A rise in the number of people facing starvation across African countries, such as Sudan, Somalia, and Nigeria, is expected to stir up the demand for superfoods over the forecast period. Growing acceptance of amaranth products in established markets such as Europe and North America can lead to a trickle-down effect, aiding availability of amaranth products in developing countries over the coming years.
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Further key findings from the report suggest:
- The global amaranth seed demand is estimated to reach 9,251 Kilotons by 2025, rising at a CAGR of 10.9% during the forecast period
- In terms of revenue, amaranth oil is anticipated to be the fastest growing product segment, expanding at a CAGR of 12.8% during the same period
- The U.S. amaranth oil market is projected to reach 354.7 kilotons by 2025
- MEA is poised to witness a remarkable CAGR of 11.0% in terms of volume over the forecast period, owing to growing population of middle class in countries such as South Africa, Ethiopia, Nigeria, and Kenya, which is fueling the demand for better healthcare sector, which in turn will stimulate the growth of the regional market
- Asia Pacific, especially India and China, is likely to observe remarkable growth during the forecast period, exhibiting a CAGR of 12.0% in terms of revenue
- The market is partially consolidated and competitive in nature, with presence of global multinational players
- Some of the key companies present in the amaranth market are Irel, Proderna Biotech Pvt. Ltd., Nans Products Pvt Ltd., Amaranth Nord, AMR Amaranth A.S., Dk Mass S.R.O, RusOliva Pvt. Ltd., Nu-World Foods, Flavex Naturextracte Gmbh, Spol S.R.O, Saar, Flaveko Trade Spol. S.R.O, and Amaranth Bio Company.
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About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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