Amaranth Market Size & Share, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Amaranth Market


The global Amaranth market size is projected to reach US$ 15.41 billion by 2026, from US$ 8.11 billion in 2020, at a CAGR of 11.3% during 2021-2026. Amaranth products offer several medical benefits that our favorable for aged people. Therefore, rising geriatric population along with growing preference for vegan sustenance is likely stimulate the growth of the market over the forecast period.

Consumer behavior, which is exhibited across search, purchase, use, evaluation, and display, plays a vital role in the development of the market. As the global consumer demographic is leaning towards the use of halal cosmetics, the personal care industry worldwide is expected to consider amaranth as essential in the future.

Amaranth seeds have been a part of indigenous culture in Central America and Mexico on account of their high concentration of protein, minerals, and vitamins. Although the consumption of plant is anchored mainly in Central America, over the past few years, the demand for the products has witnessed a significant growth in various regions such as Europe, North America, and Asia Pacific.

Increasing consumer interest in pursuing healthy lifestyle and growing penetration of essential oils in the cosmetic industry are estimated to boost the growth of the market over the next few years. Growing use of essential oils in the food and beverage industry is also propelling the market over the forecast period. Purchasing behavior of consumers towards organic foods is largely influenced by factors such as specific food attributes, personality traits, natural features that the food preserves, place of manufacture, and vegetarian issues.

Increasing concerns regarding impairment effects, growing consciousness about environment, and rising sociability of individuals are creating a shift in behavior and preference towards organic products. Spiraling global cultivation activities in order to facilitate organic demand is anticipated to work in favor of the market.

Booming global cosmetics industry coupled with rapid penetration of manufacturers in emerging markets is projected to stir up the use of amaranth products over the forecast period. Despite economic downturn in recent years, the cosmetics industry has defied the global recession by promoting new brands, penetrating in emerging nations, and innovating existing product portfolios to make them attractive to consumers.

Competition in the arena is poised to grow more aggressive over the coming years as companies are increasingly undertaking several initiatives including frequent acquisitions, mergers, strategic alliances, and capital expansion. Key players are focusing on increasing profitability through product innovation, thus consolidating their position in the market. This is largely dependent upon raw material suppliers and manufacturers, who are primarily concentrated in the U.S., China, and Italy.

Market Segmentation, Outlook & Viewpoint: Global Amaranth Market

Product Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  
Amaranth seed
  
Amaranth oil
  
Amaranth leaf
  
Amaranth flour

Application Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  
Food & Beverages
  
Personal care
  
Pharmaceuticals
  
Others

Key Players, Recent Developments & Regional Insights: Global Amaranth Market

Based on products, the seeds segment dominated the overall market in 2017. Amaranth seeds constitute several minerals including iron, calcium, phosphorus, potassium, and magnesium. As a mineral supplement, they are consumed in fortification of foods for minerals. Over the forecast period, the demand for amaranth crop as a weed is expected to experience an upswing. Increasing health-consciousness among people is resulting in increased usage of natural sources of nourishment as opposed to synthetic mineral supplements. This, in turn, is providing an upthrust to the market.

Amaranth oil has several properties including temperature versatility, good squalene content, great nutritional value, and skin identical nature. Squalene in amaranth oil is beneficial for pharmaceutical purposes as a result of its anti-oxidation, cell-rejuvenating as well as immune system strengthening attributes. The product is also utilized in cancer treatment therapies and is further incorporated in medicinal purposes to decrease drug dosage related side-effects.
Amaranth leaves are rich in minerals, vitamins, proteins, and carbohydrates and therefore, help in protection against hair loss as well as premature greying. Their ability to work as a natural astringent helps in curing several skin problems such as acne and eczema. These factors, along with the ability of the product as a mouthwash to treat mouth and gum related conditions, are estimated to foster the growth of the segment over the coming years.

Application Insights

Food & beverages, personal care, pharmaceuticals, and others are the four application segments in the amaranth market. In 2017, the personal care segment accounted for more than 50.0% of the overall revenue. The segment has a presence of larger number of established players and is likely to witness significant growth, especially in emerging markets on account of growing consumer acceptance.

The food & beverage segment is expected to post a CAGR of 10.3% in terms of volume during the forecast period. Soaring demand for the product in grinded form or as a flour in cookies, breads, granola, noodles, cereals, and pancakes is estimated to contribute to the growth of the product. On the other hand, amaranth is traditionally consumed during fasts as well as is given to patients recovering from illness. The product is also an outstanding substitute for consumers who are gluten allergic.

In the personal care sector, the demand for amaranth is anticipated to witness a CAGR of 10.8% during the same period. The product combined with distinguished ingredients in cosmetics creates a range that supports skins ability to function normally, defends skins barrier function, helps smoothening wrinkles, and fighting environmental stress through its anti-oxidants property. These attributes, therefore, are projected to act as a driver for the product in the personal care sector.

The pharmaceutical sectors is poised to be the most promising application segment in terms of revenue as well as volume over the forecast years. Amaranth oil and seeds are beneficial for patients diagnosed with cardiovascular disease or hypertension. The demand for the product in the pharmaceutical industry is likely to be driven by their functional properties required in maintaining human health in various age groups such as adults, children, and high-performance athletes. The product is safe for consumption for gluten and lactose intolerant people.

Regional Insights

North America was valued at USD 1.48 billion in 2017. It is expected to progress at a CAGR of 11.1% during the forecast period. Increasing demand for squalene, which is extracted primarily from amaranth products, is estimated to spur the growth of the regional market, mainly on account of properties including anti-inflammatory, anti-oxidation, and anti-aging properties. Moreover, burgeoning trend in the pharmaceutical industry of developing novel medicines based on bio-based raw materials is anticipated to bode well for the regional market over the coming years.
The market in Asia Pacific, is projected to exhibit a CAGR of 12.0% during the same period. The region is poised to account for approximately 44.0% of the overall revenue by 2025, owing to rising disposable incomes and widening population base, especially in countries such as India and China. Anti-aging products have emerged as the most popular personal care product segment owing to increased consumption among adult age groups in China. These factors along with high R&D developments and introduction of advanced and innovative products are rendering the regional market lucrative for global players.

Europe is likely to post a CAGR of 10.6% in terms of value during the forecast period. Presence of major personal care product manufacturers including Kao Corp.; Unilever Group; Colgate-Palmolive Co.; Estée Lauder Cos Inc.; Procter & Gamble Co.; and LoReal Group in the region is expected to augment the cosmetics industry in the region, which in turn will fuel the demand for amaranth over the forecast period.

Amaranth Market Share Insights

The industry is exceptionally aggressive with organizations undertaking a few activities including regular mergers, acquisitions, capital extension, and strategic alliances. Established players are concentrating on expanding their presence in the overall market alongside productivity through technological innovation.

The market is dependent on raw material suppliers and manufacturers, who are primarily concentrated in the U.S., China, India, and Brazil. Organizations are focusing on ideal business development by actualizing different development techniques. They are framing strategic alliances with strong players of specific province and sharing innovative expertise for the personal care, food & beverage, and pharmaceutical sectors.

Some of the key companies present in the market are Proderna Biotech Pvt. Ltd., Irel Nans Products Pvt Ltd., AMR Amaranth A.S., Amaranth Nord, Dk Mass S.R.O, Nu-World Foods, RusOliva Pvt. Ltd, Flavex Naturextracte Gmbh, Spol S.R.O, Flaveko Trade Spol. S.R.O, Saar, and Amaranth Bio Company.

Key Insights Covered: Global Amaranth Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Amaranth industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Amaranth industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Amaranth industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Amaranth industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Amaranth industry.

Research Methodology: Global Amaranth Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other