Quinoa Seed Market size is booming and is projected to grow at a healthy CAGR during the forecast period. Quinoa seed industry is evolving as it is a vital source of protein for vegans. It contains approximately 15% protein content which is higher than maize, wheat, rice and oats. In addition, the product has emerged has effective substitute to rice for vegetarians which will boost quinoa seeds market size by 2025. Moreover, the calorific value of the product is higher than milk and eggs making it a desirable substitute for animal-based protein. Thus, rise in demand for alternative source of proteins will drive the market size by 2025.
Flexible use of the product along with its blending capacity with other foods makes it a prominent substitute for protein, which will subsequently drive quinoa seed market size during the forecast period. For instance, it can be added to breakfast cereals, salads, soups, rice, etc. making it a super food by adding nutritive value to meals. Increasing demand for healthy and natural food along with increasing awareness for consuming gluten free content will further complement the market by 2025.
Fluctuating prices is expected to hamper the market size over the projected timeframe. In addition, availability of several protein-based food products will hinder industry growth during the forecast period. Limited production owing to its superior quality is expected to hamper the quinoa seed market size by 2025. However, the product is a good source of amino acid, which is essential for tissue growth. Increasing adoption of product among health-conscious population will offer plentiful opportunities for growth of the market in the coming years.
Global quinoa seed market size is segmented based on product including white, red and black quinoa. White quinoa, also known as ivory quinoa, is amongst the most widely available one in the market and accounted for the highest industry share in 2018. It has a mild, subtle flavour making it desirable for beginners, resulting in increasing acceptance among consumers relying on protein diet. Red quinoa is richer in taste and has a nuttier flavour compared to white one, making it an easy choice for cold salads as it holds its shape while cooking. On the other hand, black quinoa is earthy in nature and has a sweeter taste. Availability of wide-ranging products including purple, orange, pink, grey, green, rainbow quinoa, etc. to be used in variety of food products will stimulate quinoa seed market size by 2025.
Based on application, quinoa market size is segmented into direct edible and reprocessing product. The product is a pseudo cereal and can be directly consumed post harvesting in variety of dishes without cooking owing to its edible nature. On the other hand, the product can be cooked like rice post harvesting upon removal of outer coating that contains bitter- tasting saponins. Flexibility in the mode of consumption of product along with its blending nature with variety of dishes is making it popular amongst consumers, which will subsequently lead to increasing market size during the forecast period.
North America accounted for a major chunk of the quinoa seed market share in 2018 owing to increasing awareness for consuming nutritive gluten free food products. In addition, better spending power of consumers in the region has led to improving product sale resulting in growing business size. Substantial increase in production of quinoa seed in Europe resulted in decreasing prices and improving consumption pattern. Furthermore, the product was developed by organic sector in Europe, which caught attention of food specialists leading to increasing product adoption among consumers.
The global quinoa industry is highly fragmented due to presence of various large scale and small-scale vendors. These players compete in terms of product quality, price, distribution, brand promotion and innovation. Key quinoa seed market share contributors include Alter Eco, Irupana Andean Organic Food, Northern Quinoa, Highland Farm Foods, Andean Naturals, Industrial and Technological Complex Yanapasiñani SRL, Arrowhead Mills, Quinoabol, COMRURAL XXI, The British Quinoa Company, Ancient Harvest, Andean Valley, Quinoa Foods Company and Big Oz.
Most of these players have been investing in R&D to expand manufacturing facilities across the globe to meet increasing product demand. In addition, these players are actively going for new mergers acquisitions, joint ventures and new product development to attain competitive advantage in the market. Moreover, manufacturers are planning to open new retails outlets to strengthen distribution channel which will lead to increasing market size by 2025.
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