Selbyville, Delaware, March 28, 2023 (GLOBE NEWSWIRE) --
The amaranth market valuation is projected to exceed USD 1.7 billion by 2032, as reported in a research study by Global Market Insights Inc.
The increasing utilization of amaranth across the pharmaceutical and nutraceutical industries will favor the market demand. Cold-pressed amaranth oil is conventionally used in regions such as Latin America and Southeast Asia for treating different types of ulcers. Amaranth oil boasts an 8% squalene concentration, and exceptional antiseptic, anti-inflammatory, and healing effects, which makes it ideal for increasing blood circulation, relieving pain, enhancing joint lubrication, and treating several gynecological problems, hemorrhoids, osteochondrosis, arthritis, and gout.
The increasing burden of chronic diseases across the globe, aggravated due to changing sleep cycles, lifestyles & eating habits, and the growing geriatric population, has propelled the demand for products with rich nutritional composition with added health benefits. This, in turn, with have a favorable influence on the amaranth market. This apart, the noticeable surge in pharmaceutical production will further transform the industry dynamics.
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The rising strategic exchanges among companies, advanced manufacturing processes, and technological innovations have further created optimistic scenarios for the amaranth market. To illustrate, in June 2021, the government of India announced a funding of USD 26,578.3 million, which will be utilized in 13 pharmaceutical sectors, such as key starting materials, active pharmaceutical ingredients, and drug intermediaries. The increasing drug developments worldwide will significantly drive pharmaceutical production, thus, creating lucrative opportunities for amaranth manufacturers.
The amaranth market from the amaranth seeds segment is estimated to expand at over 19% CAGR up to 2032, due to the increasing demand for amaranth seeds globally due to their antioxidant composition, comprising gallic and vanillic acid. These helps fight free radicals that harm normal cellular activities, thereby aiding in curing heart diseases, which, in consequence, will stimulate segment gains.
With respect to nature, the organic segment is set to surpass USD 165 million by 2032. Organic amaranth is a rich source of protein, iron, and fiber and has a gluten-free composition. Owing to these attributes and its sweet and earthy taste, it is used in a variety of hot breakfasts, cookies, and savory soups, which will fuel product sales in the forthcoming years.
The amaranth market from pharmaceuticals & nutraceuticals application segment is anticipated to record a CAGR of around 17.5% CAGR till 2032. Amaranth helps cure issues such as atherosclerosis, stomach ulcers, and tuberculosis, which is why finds extensive usage in a range of antiseptic, antifungal & anti-inflammatory preparations. In addition, its increasing popularity among the health-conscious populace due to its positive impacts on human health will boost the industry expansion.
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North America amaranth market will cross USD 390 million by 2032. The positive outlook of the bakery and food & beverage industries in North America and the increasing usage of amaranth flour and seeds in several food and bakery items will fuel regional revenues. Customers in the region are adopting naturally derived, vegan, gluten-free, and organic products, which will further enhance market performance in the coming years.
Prominent participants operating across the amaranth market include Arrowhead Mills, Ardent Mills, Apollo Agro Industries Ltd., Pure India Foods, Archer Daniels Midland Company, Proderna Biotech Pvt. Ltd., Nature Bio-Foods Ltd, A.G.Industries, Organic Products India, Kilaru Naturals Private Limited, Flavex Naturextracte Gmbh, NOW Foods, and Bob’s Red Mill Natural Foods.
Enterprises operating in this business have been consistently undertaking R&D initiatives in a move to introduce new sustainable formulations and strengthen their market standing. For instance, in September 2021, Proeon, an Indian start-up, raised seed capital funding worth US$2.4 million to scale new plant proteins sourced from mung bean, amaranth, and Indian chickpea. With the investment, the company aims to file patent applications, scale production, set up a research lab in the Netherlands, and expand its team.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Global amaranth market 3600 synopsis, 2018 - 2032
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Nature trends
2.1.4 Application trends
2.1.5 Regional trends
Chapter 3 Amaranth market Insights
3.1 Industry segmentation
3.2 COVID-19 impact on world economy
3.3 Industry ecosystem analysis
3.3.1 Raw material supplier
3.3.2 Manufacturers
3.3.3 Distribution channel analysis
3.3.4 Profit margin trends
3.3.5 Vendor matrix
3.3.6 B2B buyers assessment
3.3.7 B2C buyers assessment
3.4 Technology landscape
3.4.1 New technology to make amaranth attractive for feed producers
3.5 Raw material trends
3.5.1 Amaranth seeds
3.5.2 Fertilizers
3.5.3 Pesticides
3.5.4 Cost structure analysis
3.5.4.1 R&D Cost
3.5.4.2 Manufacturing cost
3.5.4.3 Raw material cost
3.5.4.4 Distribution cost
3.5.4.5 Operating cost
3.5.4.6 Miscellaneous cost
3.6 Top Country and Switzerland Import Statistics by product
3.7 Regulatory landscape
3.7.1 U.S.
3.7.2 Europe
3.7.3 China
3.8 Pricing Analysis (Importing Prices), By Region
3.8.1 North America
3.8.2 Europe
3.8.3 APAC
3.8.4 LATAM
3.8.5 MEA
3.9 Regional pricing
3.9.1 North America
3.9.2 Europe
3.9.3 Asia Pacific
3.9.4 Latin America
3.9.5 MEA
3.10 Industry impact forces
3.10.1 Growth drivers
3.10.1.1 Rising consumer demand for healthier food alternatives and increasing applications in the cosmetics industry
3.10.1.2 Increasing demand from the pharmaceutical and nutraceutical industries
3.10.2 Industry pitfalls & challenges
3.10.2.1 Rising consumer awareness of the negative effects of chemical residues
3.11 Innovation & sustainability
3.12 Growth potential analysis, 2022
3.13 Porter’s analysis
3.13.1 Supplier power
3.13.2 Buyer power
3.13.3 Threat of new entrants
3.13.4 Threat of substitution
3.14 PESTEL analysis
3.15 Russia-Ukraine war impact on the amaranth market
3.16 COVID-19 impact on amaranth applications
3.16.1 Bakery & confectionery
3.16.2 Pharmaceuticals
3.16.3 Cosmetics & personal care
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
