The rise of plant-based diets is anticipated to openup the new avenue for Quinoa Grain Market

 Quinoa Grain Market


The Quinoa Grain Market is estimated to be valued at US$ 910.8 Mn in 2023 and is expected to exhibit a CAGR of 10.8 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:

Quinoa is a grain crop which is cultivated primarily for its edible seeds. Native to South America, quinoa seeds are considered a superfood due to its high nutritional value and distinct attributes like being gluten-free and providing proteins of higher biological value compared to other grains. The quinoa seeds contain high levels of dietary fiber, vitamins, minerals, plant-based proteins, and antioxidants which make it a highly healthy dietary choice for health-conscious consumers. Quinoa is used to cook dishes like quinoa salad, porridge, and baking products. It is also utilized in the end-use industries like food and beverages, personal care products, and animal feed.

Market Dynamics:

The increasing popularity of plant-based diets across the world is a key driver for the quinoa grain market growth. Quinoa is widely adopted by health-conscious consumers as a substitute for wheat and rice as it contains higher protein content and other nutrients. According to the International Food Information Council, over 20% of Americans are actively reducing consumption of meat and increasing plant-based protein uptake. This dietary shift is boosting the demand for nutrient-dense superfoods like quinoa. Moreover, quinoa is considered gluten-free which expands its consumer base to include people suffering from gluten intolerance. However, fluctuation in climatic conditions impacting its production could hamper the market growth.

Segment Analysis

The Global Quinoa Grain Market Share is dominated by the organic segment. Quinoa is mostly grown organically as it can be grown without the use of pesticides and chemical fertilizers. The organic segment constitutes around 70% of the total quinoa grains market owing to the increasing health consciousness among consumers and growing demand for chemical-free food products.

PEST Analysis

Political: The governments of quinoa producing countries such as Peru, Bolivia, and Ecuador are supporting farmers through subsidies and have implemented policies to promote the export of quinoa. This is positively impacting the market growth.
Economic: The rising disposable incomes and growing health awareness are driving the demand for nutrient-rich superfoods like quinoa globally. The economic growth in developing nations is further fueling the market expansion.
Social: Changing lifestyles and busy schedules have increased the demand for convenient, ready-to-eat food products using quinoa. Furthermore, social media influencers are promoting quinoa as a superfood which is boosting its popularity.
Technological: Advanced processing and breeding techniques are being used to develop new quinoa varieties with better yields and traits. New technologies are also enabling efficient production and lower costs.

Key Takeaways

The global quinoa grains market size is expected to reach US$ 1,607.1 Mn by 2030, expanding at a CAGR of 10.8 % during the forecast period. Rising health consciousness among consumers regarding the nutritional benefits of quinoa is the key driver for the market.

Regional analysis: North America dominates the global quinoa grains market owing to increased consumption of plant-based, gluten-free, and non-GMO food products. Moreover, the growth of veganism has further boosted the demand in the region. The market in Europe is driven by busy lifestyles that have increased demand for convenient, nutritious food options.

Key players operating in the quinoa grains market are Ancient Harvest, Andean Valley Corporation, Andean Naturals, Quinoa Foods Company, Northern Quinoa Production Corporation, The British Quinoa Company, Inca Organics, Alter Eco, COMRURAL XXI, Irupana Andean, Organic Food COMRURAL XXI Andean, Organic Food. These companies are launching new product varieties and focusing on strategic acquisitions & expansions to strengthen their market position.

Read More:

https://www.marketwebjournal.com/quinoa-grain-market-demand-share-analysis/

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