Amaranth Oil Market Size was estimated at 0.03 (USD Billion) in 2022. The Amaranth Oil Market Industry is expected to grow from 0.04(USD Billion) in 2023 to 0.128 (USD Billion) by 2032. The Amaranth Oil Market CAGR (growth rate) is expected to be around 14.51% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Amaranth Oil Market Trends Highlighted
The amaranth oil market exhibits a promising growth trajectory, fueled by increasing health consciousness among consumers and escalating demand for natural and organic products. The rising adoption of plant-based diets and the growing popularity of amaranth oil as a health supplement contribute to market expansion. The oil's nutritional richness, including its exceptional omega-3 and omega-6 fatty acid content, further enhances its appeal in the health and wellness industry. Technological advancements in extraction and processing methods have improved oil quality and increased its versatility, creating opportunities for market growth. Furthermore, the growing trend towards sustainable and ethical consumption has bolstered demand for amaranth oil, as it is a by-product of amaranth grain production, promoting resource utilization and waste reduction.
Amaranth Oil Market Drivers
Rising Health Consciousness
Consumers are increasingly becoming health-conscious, with a preference for natural and organic products. Amaranth oil is an excellent source of protein, fiber, and antioxidants, and it is popular among health-conscious consumers. With the increasing popularity of plant-based diets due to their several health benefits, the demand for oil from amaranth is on the rise, as it is an excellent source of plant-based protein. As a result, the Amaranth Oil Market Industry is expected to register considerable growth over the forecast period.The increased health consciousness of consumers is due to the rising prevalence of chronic diseases, such as obesity, diabetes, and cardiovascular diseases, which have been largely attributed to poor diets. As a result, consumers are increasingly shifting their preference to healthy diets and foods. The oil from Amaranth is increasingly finding applicability as a healthy cooking oil as a result of its high nutritional value and low content of saturated fats.Additionally, its growing awareness of its benefits to skin and hair is contributing to the growth of the market.
Growing Demand for Natural and Organic Products
There is a growing demand for natural and organic products worldwide. These trends lead to demand for natural, botanical, non-GMO products in cosmetics, healthcare and medicinal applications. Amaranth oil is a natural and organic product, and it is an attractive product for the increasing number of consumers who want to buy safer and environmentally friendly products. The prospects of the Amaranth Oil Market Industry are positive as consumers become more concerned for their health and aware of the dangers of synthetic and chemical products.Consumers are shifting towards healthier and more sustainable food and have also become more aware of the benefits of natural and organic products. Amaranth oil is a natural and organic cooking oil, as it is high in nutrition but has low levels of saturated fat.
Expansion of the Food and Beverage Industry
The food and beverage industry is increasing at a high rate due to the increased population and urbanization. This has generated a higher need for new food products and the existing ones using healthier and natural ingredients. Amaranth oil is an ingredient that is used in many food and beverages, making it an appropriate option in food and beverage production. The growth of the Amaranth Oil Market Industry is expected to receive rapid growth over the forecast period as the food industry expands.The population is growing at a higher rate, and most of the people are moving to urbanized areas. Amaranth oil is a natural and healthy ingredient in food and beverage products and is highly adopted as it possesses high nutritional value and a low saturated fat content.
Amaranth Oil Market Segment Insights
Amaranth Oil Market Type Insights
Introduction The Amaranth Oil Market is categorized by Type into Expeller Pressed and Solvent Extracted. The Expeller Pressed segment is expected to hold a relatively high share of the market in 2023, as it is highly nutritious and a rich source of antioxidants. Moreover, with a high demand for use in different applications, such as food, cosmetics, and pharmaceuticals, the Expeller Pressed segment is expected to continue its dominance during the forecast period. Furthermore, the instrumental adoption of plant-based food diets and the rapidly increasing awareness of the health benefits of the oil are driving the growth of the segment.Nonetheless, the solvent-extracted segment is expected to grow at a notable rate during the forecast period as well. The solvent-extracted oil is produced through the use of chemical solvents, which increases the extraction yield. The growing demand for oil in industrial applications, such as lubricants and biofuels, is facilitating the significant growth of the segment. Additionally, the increasing advancements in extraction technology are expected to accelerate the implementation of solvent extraction methods by enhancing their efficiency and cost-effectiveness, which is likely to boost the market share of the segment during the upcoming years.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Amaranth Oil Market Application Insights
The Amaranth Oil Market is divided into Healthcare Food and Beverages, Cosmetics, and Personal Care Animal Feed. The Food and Beverages segment dominated the Amaranth Oil Market and generated a revenue of approximately 45% in 2023. Growing demand for amaranth oil in food products, including baked goods, cereals, and snacks, is a major factor contributing to the growth of the market. The Healthcare segment is expected to witness the highest CAGR over the forecast period due to an increasing incidence of chronic diseases and escalating popularity of natural remedies.Presently, the Cosmetics and Personal Care segment is developing at a steady pace due to the increasing use of amaranth oil in skincare and haircare applications. It is anticipated to expand slightly over the forecast period. The Animal Feed segment is developing rather slowly as well since the use of amaranth oil as a source of essential fatty acid for livestock is only beginning to gain popularity.
Amaranth Oil Market Distribution Channel Insights
The Amaranth Oil Market segmentation by distribution channel comprises direct, retail, and online channels. In 2023, the retail segment accounted for the largest share of the Amaranth Oil Market revenue, owing to the extensive distribution networks of supermarkets, hypermarkets, and grocery stores. The online segment is projected to exhibit the highest growth rate during the forecast period, driven by the increasing popularity of e-commerce platforms and the convenience of home delivery. The direct sales channel involves direct sales from manufacturers to consumers, offering personalized service and product customization options.
Amaranth Oil Market Product Offering Insights
The Amaranth Oil Market segmentation by Product Offering into Organic, Conventional, and Fortified provides valuable insights into the market dynamics. Organic amaranth oil, cultivated without synthetic pesticides or fertilizers, is witnessing increasing demand due to growing consumer preference for natural and organic products. In 2023, the organic segment held a significant market share of 28.5%, and it is projected to maintain a steady growth rate over the forecast period. Conventional amaranth oil, produced using conventional farming methods, accounts for a larger share of the market owing to its lower cost and wider availability.However, fortified amaranth oil, enriched with additional nutrients, is gaining popularity among health-conscious consumers. With rising awareness about the nutritional benefits of amaranth oil, the fortified segment is expected to exhibit a notable growth rate in the coming years.
Amaranth Oil Market Regional Insights
The Amaranth Oil Market is segmented into North America, Europe, APAC, South America, and MEA. The market is expected to witness significant growth in the coming years, owing to the increasing demand for amaranth oil in various industries, including food, cosmetics, and pharmaceuticals. North America is expected to hold the largest market share in the Amaranth Oil Market, owing to the increasing demand for amaranth oil in the food and beverage industry. Europe is expected to be the second largest market, owing to the growing demand for amaranth oil in the cosmetics and personal care industry.The market growth is attributed to the increasing demand for amaranth oil in various industries, including food, cosmetics, and pharmaceuticals. The food and beverage industry is the largest consumer of amaranth oil, accounting for over 50% of the total market share. The cosmetics and personal care industry is the second largest consumer of amaranth oil, accounting for over 25% of the total market share. The pharmaceutical industry is the third largest consumer of amaranth oil, accounting for over 15% of the total market share. The increasing demand for amaranth oil is attributed to its nutritional value and health benefits.The growing awareness of the health benefits of amaranth oil is driving the market growth. The increasing demand for amaranth oil in the food, cosmetics, and pharmaceutical industries is expected to drive market growth in the coming years.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Amaranth Oil Market Key Players And Competitive InsightsTo cater to a large customer base and amplify their profit margins, major players in the Amaranth Oil market are focusing on enhancing their production capacities and bolstering their distribution network. Leading players in the Amaranth Oil Market are making significant investments in research and development activities for developing new and innovative products to address the changing needs of the consumer. The Amaranth Oil Market is marked by the presence of intense competition on account of the presence of a number of major players.. A leading player in the Amaranth Oil Market is a firm engaged in the production and distribution of amaranth oil. The company has a strong presence in Asia, Europe and North America and boasts high-quality products and custom packaging solutions. The company offers a range of amaranth oil products such as cold press, expeller pressed, and refined oils. The company's amaranth oil is ideal for a number of food and beverage applications.A noteworthy competitor in the Amaranth Oil Market is also an international company involved in the production and distribution of natural and organic food products. The company has operations in North America and Europe and is notable for its commitment to sustainability and ethical practices. The company's amaranth oil is USDA certified Organic and is prepared using traditional crushing equipment to retain the unmodified nutrients and flavor. The company has a plethora of amaranth oil products, including whole grain, ground, and popped amaranth oil. The company's products are used in a wide range of culinary ingredients.
Key Companies in the Amaranth Oil Market Include
Amaranth Oil Market Industry Developments
The Amaranth Oil market is projected to grow from USD 0.04 billion in 2023 to USD 0.128 billion by 2032, exhibiting a CAGR of 14.51% during the forecast period. The market growth is attributed to the rising demand for amaranth oil in the food and beverage industry as a healthy alternative to other oils. Amaranth oil is rich in nutrients such as omega-3 fatty acids, antioxidants, and vitamins, which makes it a preferred choice for consumers seeking healthier options. Additionally, the increasing awareness about the health benefits of amaranth oil is driving its demand in the pharmaceutical and cosmetic industries. Key players in the market include NOW Foods, Spectrum Essentials, and Barlean's. Recent developments include the launch of new amaranth oil-based products, such as salad dressings, dips, and spreads, by various companies.
Amaranth Oil Market Segmentation Insights
Amaranth Oil Market Type Outlook
Amaranth Oil Market Application Outlook
Amaranth Oil Market Distribution Channel Outlook
Amaranth Oil Market Product Offering Outlook
Amaranth Oil Market Regional Outlook
North America
Europe
South America
Asia-Pacific
Middle East and Africa
| Report Attribute/Metric | Details |
| Market Size 2022 | 0.03(USD Billion) |
| Market Size 2023 | 0.04(USD Billion) |
| Market Size 2032 | 0.128(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 14.51% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2022 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Hain Celestial Group, Inc., Navitas Organics, Madhava Natural Sweeteners, Inc., HiHealth Foods Pvt. Ltd., Sunfood Superfoods, The Hain Celestial Group, The Tree of Life, Inc., KTC Edibles Pvt. Ltd., Starwest Botanicals, Boundary Bend, NOW Health Group, Inc., Spectrum Naturals, Healthy Oils |
| Segments Covered | Type, Application, Distribution Channel, Product Offering, Regional |
| Key Market Opportunities | Growing demand for plant-based oils increasing awareness of health benefits applications in the food and beverage industry, raising disposable income in emerging markets, and expanding retail and ecommerce channels. |
| Key Market Dynamics | Rising health consciousness Growing demand for skincare products Increasing use in the food industry Technological advancements Expansion of distribution channels. |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The CAGR of the Amaranth Oil Market from 2024 to 2032 is projected to be 14.51%.
The overall valuation of the Amaranth Oil Market in 2032 is expected to reach 0.128 USD Billion.
Currently, no specific region dominates the Amaranth Oil Market, and the market is expected to remain competitive throughout the forecast period.
Amaranth Oil finds applications in various industries, including food and beverages, personal care, and pharmaceuticals.
Some of the leading players in the Amaranth Oil Market include Hain Celestial Group, Inc., Bunge Limited, and The Archer Daniels Midland Company.
The Amaranth Oil Market in North America is anticipated to register a CAGR of 4.5% during the forecast period.
The Amaranth Oil Market in Europe is projected to reach a valuation of 0.06 USD Billion by 2032.
The rising demand for plant-based oils, increasing awareness of the health benefits of Amaranth Oil, and the growing popularity of gluten-free products are driving the growth of the Amaranth Oil Market.
The major challenges faced by the Amaranth Oil Market include fluctuations in raw material prices, intense competition from other vegetable oils, and limited availability of Amaranth seeds.
Technological advancements, such as improved extraction techniques and the development of new Amaranth varieties, are expected to impact the growth of the Amaranth Oil Market positively.
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