June 23, 2024
Quinoa Grain Market

Quinoa Grain Market Estimated To Witness High Growth Owing To Increasing Health Awareness

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 pseudocereal and is highly nutritious as it contains essential vitamins, minerals, plant-based proteins and amino acids. It is gluten-free and can be consumed by people following gluten-free diets. Quinoa grain can be used for making flakes, flour and pasta which increases its application in various food categories. It has high antioxidant capacity and helps manage diabetes and weight.

Market Dynamics:
Increasing consumer awareness regarding health benefits of quinoa is expected to drive the market growth over the forecast period. Quinoa grain is high in protein, fiber and antioxidants and its consumption helps promote heart health, reduce inflammation and manage weight. Moreover, rising vegan population and food allergies has fuelled the demand for plant-based protein sources like quinoa. Easy availability of quinoa products through retail chains and e-commerce websites has also augmented the market expansion. However, high production costs associated with quinoa cultivation compared to other grains may hamper the market growth.

SWOT Analysis

Strength: The quinoa grain has a high nutritional value as it is a complete protein and is rich in fiber, vitamins, and minerals. It is gluten-free and easy to cook, making it appealing to health-conscious consumers. Quinoa has a mild and nutty flavor that allows it to be incorporated into both savory and sweet dishes.

Weakness: Quinoa cultivation requires specific growing conditions like temperature and soil quality that are only available in certain regions, limiting global supply. Additionally, quinoa farming and processing involves higher labor costs compared to other grains.

Opportunity: Growing health awareness is driving demand for nutrition-rich foods like quinoa. The versatile qualities of quinoa allow it to be marketed to both health-focused consumers as well as gourmet food enthusiasts. Emerging markets in Asia and Latin America present an opportunity for export growth.

Threats: Fluctuating climatic conditions in major cultivation regions pose risks to stable quinoa supply. Rising labor and transportation costs associated with quinoa farming and processing threaten profit margins.

Key Takeaways

The Global Quinoa Grain Market Share is expected to witness high growth, exhibiting CAGR of 10.8 % over the forecast period, due to increasing health consciousness among consumers. Rising awareness about the high nutritional value of quinoa has led to a surge in demand for the superfood grain.

Regional analysis: South America currently dominates the global quinoa grain market, accounting for around 88% of production. Countries like Peru, Bolivia, and Ecuador have ideal agro-climatic conditions for quinoa cultivation. However, North America is the fastest growing regional market owing to significant quinoa consumption in the U.S. and Canada.

Key players operating in the quinoa grain 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. These companies are focusing on new product development and adopting sustainable farming practices to strengthen their market position.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it