The Role of Amaranth Industry in the Gluten-Free & Plant-Based
Amaranth Market Overview
The global Amaranth Industry is experiencing significant growth, driven by increasing consumer preference for nutrient-rich and gluten-free grains. In 2023, the market was valued at approximately USD 9.5 billion and is projected to grow at a CAGR of 6.2%, reaching nearly USD 14.5 billion by 2030. Amaranth is widely used in food & beverages, cosmetics, and pharmaceuticals due to its high protein content, antioxidants, and functional properties.
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Market Growth Drivers & Opportunities
- Rising Demand for Superfoods: Amaranth is gaining popularity as a high-protein, gluten-free alternative to traditional grains.
- Increased Use in Cosmetics & Pharmaceuticals: The presence of squalene and antioxidants in amaranth oil boosts its applications in skincare and medicinal products.
- Growing Plant-Based and Organic Trends: The shift towards vegan and organic diets is fueling demand for amaranth-based products.
- Expansion in the Functional Food Industry: Amaranth is widely used in protein bars, cereals, and health supplements due to its high nutritional value.
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Regional Analysis
- North America: The largest market, driven by the rising demand for organic and gluten-free foods in the U.S. and Canada.
- Europe: Increasing awareness of plant-based diets and the growing cosmetic industry support market expansion.
- Asia-Pacific: Rapid adoption in India and China, fueled by a strong agricultural base and traditional consumption in local diets.
Key Mergers & Acquisitions
- Kerry Group acquired Biosearch Life, enhancing its portfolio of plant-based and functional food ingredients.
- Ingredion Incorporated partnered with Batory Foods, strengthening its distribution of plant-based ingredients, including amaranth.
- Archer Daniels Midland (ADM) expanded its organic grains division, investing in amaranth production for health-conscious consumers.
Conclusion
The amaranth market is set for steady growth, supported by increasing demand for gluten-free, organic, and functional foods. The expansion of cosmetics and pharmaceutical applications, along with ongoing product innovations, will further drive market development.
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