Amaranth Market Analysis

Amaranth Market Analysis

With respect to the product, the amaranth market size from the amaranth oil segment is expected to reach 1.1 billion by 2032, credited to the widespread usage of amaranth oil across several commercial verticals, including cosmetics, foods, shampoos, and intermediaries for the manufacture of pharmaceuticals, lubricants, rubber chemicals, surface active agents, and aromatics. Besides, the high squalene content in the amaranth oil makes it suitable for a range of skincare and haircare formulations due to its exceptional absorption properties and ability to detoxify, hydrate, soothe, reduce wrinkles, and improve elasticity.
 

The amaranth market share from the conventional segment is poised to grow at 17.5% CAGR through 2032. Conventional amaranth is a rich source of vitamin C that aids the formation of blood vessels, repair muscle tissues, process iron, and maintain collagen, thus finding widespread applications across the fitness and wellness industry. In addition, the product has gained recognition as a pseudocereal, given its similarity with cereal grain grasses such as oats and wheat, which will favor the market demand.
 

In terms of application, the amaranth market from the food & beverage industry applications will attain a valuation of over USD 740 million by 2032. Amaranth has a rich composition of phenolic compounds, high-quality proteins, dietary fibers, flavonoids, unsaturated oils, tocotrienol, squalene, vitamins, and minerals, which will increase its acceptance across the food & beverages sector. This apart, the increasing product usage as a high-protein flavoring grain in beverages will spur the market performance.
 

Asia Pacific amaranth market is estimated to showcase around 16.5% growth rate during the forecast period. The flourishing food & beverage industry and the growing consumption of bakery & confectionary items will propel the market revenues. The product is extensively utilized as a significant fasting food and in numerous nutritional delicacies in countries such as China, India, and Japan.