by Quinoa is a high-protein pseudo-cereal largely grown in the Andean region. It is gaining popularity as a gluten-free alternative to grains such as rice, wheat, and oats. Quinoa has a mild, subtly nutty flavor and can be used in a variety of recipes including salads, soups, snacks, and desserts. It provides essential vitamins, minerals, antioxidants, amino acids, and plant-based proteins that make it a suitable ingredient for health-conscious consumers. The rising awareness about the nutritional benefits of quinoa is fueling the growth of the market.
The quinoa grain market is estimated to be valued at US$ 1,867.2 Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The increasing demand for plant-based proteins from health-conscious consumers is a major driver of the quinoa grain market growth. According to a study by Ingredion, 60% of consumers are seeking nutrition beyond basic vitamins and minerals and demanding food and beverages that offer health and wellness benefits. This has increased the demand for sustainably sourced alternatives to meat and dairy. Quinoa, with its high protein content, is being recognized and utilized as a plant-based protein option. Another driver is the quinoa’s versatility that enables its usage across various culinary applications. It can be easily incorporated into recipes without significantly affecting the taste or texture. This has boosted its popularity among home cooks and professional chefs alike.
Segment Analysis
The quinoa grain market is divided into two main segments – organic quinoa and conventional quinoa. The organic quinoa segment dominates the market and accounts for around 65% share owing to increasing consumer preference for chemical-free and healthy food products. As demand for organic foods is on the rise globally, the organic quinoa segment is expected to witness high growth over the forecast period.
PEST Analysis
Political: The governments of major quinoa producing countries such as Peru and Bolivia are supporting farmers through subsidies and international trade agreements which is positively impacting the market growth.
Economic: The rising disposable incomes and changing consumer preferences towards healthy foods are driving the quinoa grain market. High nutrient content and gluten-free attribute appeals to health-conscious customers.
Social: Increased health awareness among consumers has augmented the demand for superfoods like quinoa globally. It possesses numerous nutritional benefits and is considered ideal for diabetics, celiacs, and vegans.
Technological: Advanced agricultural techniques have enhanced quinoa yields and new innovative products incorporating quinoa as a key ingredient are expanding its applications.
Key Takeaways
The global quinoa grain market is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing demand for gluten-free and high protein food options. The market size for 2023 is US$ 1,867.2 Mn.
Regional analysis: The Latin American region, particularly Peru, dominates the global quinoa production and leads the market due to favorable weather conditions and low production costs. However, North America is projected to be the fastest growing regional market as quinoa has become very popular in the region as a superfood.
Key players: Key players operating in the quinoa grain market are Ancient Harvest, Andean Valley Corporation, Andean Naturals, Quinoa Foods Company, Northern Quinoa Production Corporation (NorQuin), The British Quinoa Company, Inca Organics, Alter Eco, COMRURAL XXI, Irupana Andean, Organic Food They are focused on introducing innovative products and utilizing advanced technology to cater to the growing demand for quinoa.
About Author - Priya Pandey
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement. LinkedIn Profile
