Europe Amaranth Market Size, Share, Growth Analysis, By Category(Conventional and Organic), By Product(Seed, Oil), By Application(Food & Beverages, Pharmaceutical) - Industry Forecast 2024-2031

Drivers

Growing Consumer demand for Plant-Based, Gluten-Free Products to Bolster Market Growth

• Amaranth is a grain that is very nutrient-dense and high in protein, fiber, and important micronutrients. The demand for breakfast cereals, snacks, and baked goods made from amaranth has been driven by Europe's growing need for nutritious food.

• A gluten-free grain that is good for those with celiac disease or gluten intolerance is amaranth. Also, it is a source of plant-based protein that is becoming more and more well-liked among consumers who are switching to a vegetarian or vegan diet. The demand for amaranth-based products in Europe is being driven by the rising desire for gluten-free and plant-based goods.

• Amaranth is a traditional crop in South America and has long been a staple in the Andean region's native cuisines. The demand for dishes made from amaranth, such as tortillas, bread, and pasta, is being driven by the rising popularity of ethnic cuisine in Europe.

Restraints

Lack of Consumer Awareness to Hinder Market

• Though amaranth-based products are growing increasingly popular in Europe, few consumers are aware of its advantages. Many consumers may be reluctant to try new products as they're unfamiliar with the grain, which could restrain expansion.

• Relatively speaking to other grains like rice and wheat, amaranth is a somewhat expensive grain. This might discourage consumers who are concerned about costs from selecting more expensive options.

• Although amaranth is not frequently grown in Europe, the bulk of the continent's supply is imported from countries like Mexico, Bolivia, and Peru. This would limit the supply of amaranth-based products, which might limit the market's growth potential.