Quinoa Market

Quinoa Market Growth and Forecast (2022-2027)

The Global Quinoa Market Size in 2021 was estimated to be $61 billion. Based on extensive research, the market is anticipated to grow at a compound annual growth rate (CAGR) of 12.9% during the forecast period from 2022 - 2027. According to the report, the valuation of the forecast market in 2027 is expected to be $149.3 billion.

Market Overview:

Quinoa seeds in the market have uncontested relevance. This trait drives the demand of the quinoa market. The market growth and stability can be attributed to the health benefits with the consumption of quinoa. The health benefits of quinoa include minimization of cardiovascular diseases, type-2 diabetes risk, helps in the regulation of blood sugar level, and regulates cholesterol level and reduction in the risk of various allergies. The medical fraternity’s efforts of decoding the benefits associated with the consumption of quinoa shall instigate an era of progress for the vendors.

Improvements in the food processing field will help the global quinoa market revenue to grow. Due to climatic requirements, the cultivation of the crop is limited to certain regions but due to the improvement in the export dynamics, quinoa market has experienced a thrust. 

Quinoa is a source of phosphorus, manganese, copper, magnesium, folate, fiber, zinc, etc. which makes it one among the healthy foods. Quinoa has several health benefits such as the risk of type-2 diabetes, minimizing cardiovascular diseases, helps maintain cholesterol level, regulates blood sugar, reduces the risk of various allergies, etc. Quinoa is grown conventionally as well as organically. Quinoa is free of gluten which makes it popular in consumers who are health conscious which is propelling its demand in the global market. Quinoa has various applications in food, pharmaceutical, cosmetics, a medical industry which is resulting in the growth of its demand.

Quinoa Market Growth Rate:

The growth rate can be attributed to the popularity of quinoa due to the health benefits it provides. The major hindrance in the growth is caused by the limited production of the crop due to its farming requirements. Even though the production is limited, export is a major factor in the rise of the crop. Also, quinoa has been replacing rice in several regions. Quinoa supplements the rich carbohydrate content of rice with several additional health benefits. 

Chefs in various parts of the world have perfected several quinoa seeds dishes. It is expected that the overall revenue within the quinoa market across the globe is going to increase over the forecast period. Due to the climatic requirements of the crop production, the growth of quinoa is favoured in the colder regions. The vendors is colder region have an edge over others unraveling several opportunities. Therefore, key vendors in the market are acquiring new territories expanding the global quinoa market. This development is expected to widen the profit margins in the market in the following times.

Recent Developments in Quinoa Industry:

• Ardent Mills is expanding its specialty grain capacity with the purchase of Andean Naturals' quinoa business in Yuba City, California. The Yuba City facility will be Ardent Mills' first gluten-free cleaning and sourcing facility, and will give the company the option to expand to include other grains.
• Recent R&D in technological developments by The King Abdullah University of Science and Technology (KAUST) in Saudi Arabia led to the developments of quinoa seeds capable of growing in temperate regions. 

REPORT COVERAGE:

Drivers:

The major driver of the quinoa market is the changing pattern of food consumption and the increase in health awareness in the population. The nutritional value of the crop is very high with several health benefits which makes it an essential crop.

• Innovation in the application of quinoa crop into food industry, cosmetic industry, and pharmaceutical industry. 
• Increase in the demand of the quinoa seeds internationally along with advancements in technology.
• Larger investments in Research & Development.

Restraints:

• The major restraint with the global quinoa market is the limited supply. Since the crop requires certain specific cultivation conditions for the growth, limited regions in the world are supplying the needs of the quinoa market. This had led to fierce competition among the major players.
• Another restraint is the regular increase in the price of the product. Since most of the crop is imported and the supply is limited with a high demand, the seeds turn out to be costly for the poorer countries. Therefore, the scope of expansion in these countries is low.

Quinoa Market Segmentation Analysis:

Applications:

• Food Industry
• Cosmetic Industry
• Pharmaceutical Industry 

By Application, quinoa in the food industry is used in variety of products. The various innovations by chefs across the world and several health benefits provided by the crop makes it suitable for various dishes including noodles, vegetable soups, pasta etc. Quinoa has been trending as an important part of the breakfast meals as well. The cosmetic industry uses quinoa for skin rejuvenation, dark spot reduction, reduce pigmentation, anti-ageing, treatment of dandruff etc. Whereas, Saponins attained from quinoa are used by the pharmaceutical company as saponins change the permeability of intestine used for the absorption of some specific medicines. It also plays a role as a fungal control antibiotic.

Source:

• Organic
• Inorganic

By Source, the growing concerns of health among the increasing population has led to the popularity of organic products. The global quinoa market demand has increased due to increasing demand of organic products. The cosmetics market has also been adopting techniques to replace their inorganic products with organic products. As a result, the cosmetic quinoa market is also experiencing a higher demand.

End-User:

• Ingredient
• Packaged

By End-Use, the quinoa crop has a variety of applications in the industry. The quinoa crop is majorly used as an ingredient to provide additional health benefits. Quinoa is used as an ingredient in the preparation of several items including ready to use soup powders for its nutritive value. Packed quinoa products are also available on several platforms.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Regional Insights:

Countries in Latin America are the major producers of quinoa due to supportive climatic condition. Peru has become the global leader in the production of quinoa. As far as the consumption is considered, North America is the largest consumer of quinoa with the largest market. Asia Pacific follows North America in the consumption of quinoa. The countries in the North America and Asia Pacific including the US, and India are developing interest in this crop. For the past few years, European countries have seen an increase in the import of quinoa. Africa is among the countries gaining interest in overall market. The market in Europe and Middle East & Africa has a great scope of expansion in the years to come. 

Impact of Covid-19 on the Quinoa Market:

Covid-19 pandemic has brought the entire world to stand still. The entire supply chain got disrupted. Due to the disruption the quinoa market has been damaged. The market survives on the export of the crop. Due to the pandemic and the disruption of the supply chain the market has not been good for the quinoa crop since the people are dependent more on the essential items easily available to them. Therefore, the export of the quinoa crop has been halted shortening it demand. As a result, Covid-19 has had a negative impact on the quinoa market.

Competition in the marketplace:

The major competitive move among the major players in the quinoa market is the attainment of limited land in limited regions of the world with cultivation capabilities for the crop. Therefore, the demand for the crop is high but the supply is low. Also, innovation in the application of quinoa is a sign of healthy competition among the major players in the quinoa market.

Key Players in the Market:

Major Key Players in the Global Quinoa Market are

• Adaptive Seeds
• Territorial Seed Company
• Victory Seed Company
• Hancock Seed Company
• The Real Seed Collection Ltd
• Alter Eco
• Andean Valley Corp
• Quinoa Foods Company
• COMRURAL XXI SRL
• NorQuin
• QUINOABOL
• Keen One Quinoa
• The British Quinoa Company
• Andean Naturals Inc.
• Inca Organics