Amaranth Market is anticipated to garner substantial momentum during 2023–2032 owing to the rising product demand across the pharmaceutical and nutraceutical industries. The leaf of amaranth contains a small amount of vitamin C and is used for making medicines. It is also proven beneficial in treating ulcers, diarrhea, a swollen mouth and throat, and high cholesterol.
Amaranth, similar to other pseudocereals, is a protein powerhouse with a long list of outstanding nutrients. At 14% protein, it has almost twice protein as rice and corn and is a complete protein, having all nine essential amino acids. Along with protein, amaranth also includes lunasin, a peptide that holds anti-inflammatory and cancer-preventive properties. This would imply that rising cancer prevalence worldwide would propel the market dynamics through 2032.
Overall, the amaranth industry is segmented in terms of product, nature, application, and region.
Based on the product, the amaranth leaves segment is slated to be valued at over USD 190 million by 2032. The segmental growth can be credited to the increasing use of amaranth leaves in skincare products. The oil from amaranth illuminates, hydrates, detoxifies, and soothes the skin, thus improving its elasticity and reducing wrinkles. Besides, it is also a rich source of omega-6 and omega-9 fatty acids.
By nature, the organic amaranth segment is slated to witness high demand during the estimated timeframe. Organic amaranth is gaining huge traction due to its high nutrient content, including protein, iron, and fiber. Besides, it is also gluten-free. Organic amaranth is sweet and earthy in taste and is used in hot breakfasts, cookies, and savory soups, thus boosting market demand.
Considering the application, the bakery and confectionery market is estimated to be worth over USD 430 million by 2032. Amaranth-based bakery products suit vegans, celiac patients, and lactose-intolerant people. The amaranth-based bakery and confectionary products contain proteins, gums, and xanthan. Besides, it is also used in the confectionary industry as a natural coloring agent, thus influencing industry outlook.
Considering the regional perspective, the Europe amaranth industry is slated to depict over 18.5% CAGR through 2032. The growth would be driven by an increasing product demand across industries such as bakery, confectionery, cosmetics, and personal care in the region. Besides, the continent is also witnessing strong demand for amaranth-based chocolate and puffed rice as healthy snack options.