The quinoa seed market is expected to be valued at US$ 375.2 million in 2024. In 2023, the market valuation was marked at US$ 366.5 million. The market is projected to progress at a CAGR of 2.4% from 2024 to 2034. By 2034, the market value is forecasted to reach US$ 475.6 million.
Rising consciousness among people about healthy diets is leading to a plant-based revolution in the food industry. Plant-based ingredients like quinoa seeds are thus enjoying increased demand among consumers. Quinoa is also being incorporated into diets for the additional health benefits inherent in the product. The gluten-free nature of the product is also contributing to the positive outlook of the market.
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Quinoa seed production began in South America but is now expanding to other regions. Quinoa seed farming has reached lands far away from South America in Asia and Africa. The import of quinoa seeds is also developing at a good clip, with Europe being the prominent region.
There are significant challenges in the market. Apart from the regions where quinoa seed is produced, there is a lack of awareness about the product and the associated health benefits. The presence of alternatives also stifles market growth. The price of the product is considered prohibitive by many.
“The use of quinoa as a healthy substitute for ingredients like rice and barley is driving the market. Additionally, quinoa is also being used in beer-making and as an ingredient in skincare products. Thus, the opportunities in the quinoa seed market are multi-faceted,” – Nandini Roy Choudhury, Client Partner at Future Market Insights
Key Takeaways from the Quinoa Seed Market
- The quinoa seed market is projected to be valued at US$ 375.2.4 million in 2024.
- Conventional quinoa seeds dominate the market, accounting for a dominant share of 86.9% of the market by nature.
- The whole grain segment is leading the market by form. In 2024, whole grain is anticipated to hold a 45.2% share of the market share by form.
- Canada is one of the leading countries in the North America market. Over the forecast period, the CAGR for the market in Canada is pegged at 2.4%.
- The markets in Germany and the Netherlands are forecasted to have an identical CAGR of 2.1% from 2024 to 2034.
- The market is expected to register a CAGR of 1.6% through 2034 in France.
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Competition Analysis of the Quinoa Seed Market
Marketing campaigns are concentrating on the superfood aspect of quinoa and quinoa seeds. Acquisitions and mergers, to fuse together different strengths of market players, are common strategies adopted by several market players. Some of the prominent companies in the market are Above Food Inc., Alter Eco, Irupana Andean Organic Food SA, and Andean Naturals.
Recent Developments in the Quinoa Seed Market
- In June 2023, scientists from Brigham Young University and Washington State University combined their efforts to produce a new variety of quinoa plants called cougar quinoa.
- In May 2022, quinoa was given an elevated status by Bhutan, anointing the quinoa crop as a priority crop.
- In January 2021, the Australian Department of Primary Industries and Regional Development (DPIRD) announced the development of a technique that measures the amount of saponin in a quinoa seed.
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Key Segments
By Nature:
- Organic
- Conventional
By Form:
- Whole Grain
- Flour
- Crisps & Flakes
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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