The main drivers of the global market are the health advantages of quinoa and the rising health consciousness among the majority of people. Another element driving the market's growth is its expanding use in culinary goods like bread, noodles, and breakfast items. Throughout the projection period, the demand for organic and inorganic goods from the cosmetics sector is anticipated to present new potential prospects. In addition, the rise of quinoa in non-native nations has heightened concerns about food security, including the adoption of unsustainable agricultural practises and the production of the crop in fragile ecological systems, which endangers the viability of the producer and may slow market expansion.
RECESSION IMPACT
The recession will have a significant effect on the market for quinoa seed. A recession can significantly impact the quinoa seed industry since it can change consumer spending patterns and the demand for particular goods. Consumers may spend less on high-end or luxury goods during a recession, which could result in a drop in demand for quinoa, which is frequently seen as a specialty meal. A recession may also have an effect on the quinoa seed supply chain, which may result in shortages or price rises. Farmers may produce less quinoa due to a decline in demand or a decrease in price, which could affect the market's supply of quinoa seeds.
DRIVING FACTORS
Increasing Health Benefits Offered by Quinoa Seeds to Drive Market Growth
One of the key factors propelling the market for quinoa seeds is the nutritional value of quinoa. People are increasingly looking for meals supporting healthy lifestyles and providing functional benefits. Quinoa is a popular choice among consumers who are concerned about their health because it has been proved to have several health advantages. The high protein content of quinoa is one of its main health advantages. The body's tissues require protein for growth and repair, making it a vital nutrient. Quinoa includes all nine essential amino acids that our systems cannot create on their own, making it a complete protein source. As a result, it's a fantastic choice for vegans, vegetarians, and anyone else trying to get more protein. Furthermore, quinoa is a good source of fibre, which is crucial for the wellbeing of the digestive system. A high-fiber diet has been associated with a lower risk of chronic conditions like heart disease, diabetes, and several types of cancer. Moreover, quinoa contains many vital vitamins and minerals for good health, including zinc, iron, magnesium, phosphorus, and potassium.
RESTRAINING FACTORS
High Price of Quinoa Seeds to Limit Market Growth
The issue of price volatility is one of the main market limitations for the quinoa seed market. It can be challenging for both growers and purchasers to successfully plan and manage their businesses due to the extreme volatility of the quinoa price. Various elements can effect the price of quinoa. Supply and demand is one of the primary determinants. Price increases have resulted from the inability of the quinoa supply to keep up with rising demand in recent years. The yield and quality of quinoa crops can also be affected by weather conditions like droughts or floods, which can impact costs. Currency fluctuations are another issue that may affect quinoa prices. Although it is mostly grown in South America, prices for quinoa are frequently given in US dollars. Changes in exchange rates may have an effect on the manufacturing and shipping costs, which may have an effect on the cost of quinoa for consumers.
SEGMENTATION
By Type
Based on type, the quinoa seed market is segmented into white, red, black and others. The white category dominated the market in 2022. The most widely used variant of quinoa in the food sector is white quinoa, which is also the most generally available variation. When cooked, this quinoa, often known as "ivory quinoa," has a light, nutty flavor and fluffy consistency. White quinoa is a preferred option among consumers concerned about their health because it is an excellent source of protein, fibre, and several vitamins and minerals. Moreover, it is naturally gluten-free, making it a suitable substitute for grains made from wheat for those with celiac disease or gluten sensitivity.
By Application
Based on application, the quinoa seed market is segmented into direct consumption and reprocessed. The reprocessed category dominated the market in 2022. Reprocessed quinoa seeds have undergone processing to remove the bitter saponin coating. The quinoa seed is covered with saponin, which shields it from insects and other vermin. Although saponin is safe for human health, it can give quinoa a bitter flavour that some people find repulsive. Before cooking, quinoa seeds are normally rinsed in water to get rid of the saponin coating. Nonetheless, some producers have begun to create quinoa seeds that have already undergone reprocessing and had the saponin eliminated. This can speed up the process and make using quinoa in recipes simpler.
REGIONAL INSIGHTS
Latin America is projected to hold the largest share of the quinoa seed market over the forecast period. In Latin America, quinoa is a common food. The majority of quinoa is produced in northern Bolivia and southern Peru. As more vegan consumers move to non-animal sources of food than previously, consumption of quinoa is anticipated to rise in Brazil. Because to the widespread usage of its products as a nighttime treatment and to smooth the skin's texture in cosmetics, the other quinoa category may experience demand in the future. On the other hand, the North America quinoa seed market is anticipated to grow significantly. The presence of quinoa seed growers and rising public knowledge of the health advantages of quinoa seeds are two reasons for the region's dominance. Quinoa seeds are used to improve bone and heart health as well as blood sugar regulation because of their many health advantages.
LIST OF KEY COMPANIES PROFILED:
- Alter Eco
- Irupana Andean Organic Food
- Northern Quinoa
- Highland Farm Foods
- Andean Naturals
- Industrial and Technological Complex Yanapasiñani SRL
- Arrowhead Mills
- Quinoabol
- COMRURAL XXI
- The British Quinoa Company
- Ancient Harvest
- Andean Valley
- Quinoa Foods Company
- Big Oz
- In January 2021, a specialised measurement method has been created by the Australian Department of Primary Industries and Regional Development (DPIRD) to determine the precise concentration of saponin on quinoa seeds.
| Attributes | Details |
| Market Size in 2022 | USD 1.2 Billion |
| Market Forecast in 2030 | USD 1.8 Billion |
| Compound Annual Growth Rate | 7.40 % |
| Unit | Revenue (USD Million) and Volume (Kilo Tons) |
| Segmentation | By Type, By Application and By Geography |
| By Type |
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| By Application |
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| By Region |
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| Base Year | 2022 |
| Historical Year | 2016-2021 |
| Forecast Year | 2023-2030 |
