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

Europe Amaranth Market size was valued at USD 2197.4 million in 2021 and is poised to grow from USD 2434.72 million in 2022 to USD 5530.53 million by 2030, growing at a CAGR of 10.8% in the forecast period (2023-2030).

Growing consumer awareness of the product's high nutritional value and the medical benefits of using it is the key factor driving market expansion. The number of individuals working has increased over the past few years, which has raised reliance on a healthy diet. Due to a high level of consumer preference for a vegan diet, it is also anticipated that demand for superfoods like amaranth would increase over the forecasted period. Due to the target population's high-income levels in Europe, processed foods and dietary supplements are in high demand.

A German vegan supermarket named Vegan conducted a study in 2021 that found that 3.2% of the population was vegan, a significant increase from 1.6%. Over the projected period, the product demand is anticipated to increase as more individuals choose vegan diets. Products made by amaranth include seeds, flour, leaves, and oil. Important market players use online retailers and local distributors to distribute their products.

The producers ensure the highest quality goods thanks to temperature- and pest-controlled warehouses for the storage of raw materials to ensure continuous supply. As an illustration, FLAVEX Naturextrakte GmbH has a climate-controlled facility with a 700-ton raw material storage capacity that enables the company to keep an ongoing supply of raw materials without compromising their quality.

The market is anticipated to grow in the coming years as a result of growing essential oil demand in the cosmetics sector and growing customer interest in products that promote a nutritious lifestyle. As consumer demand for goods with clear ingredient lists and natural ingredients rises, it is also anticipated that the market will be pushed by the increased usage of essential oils in the food and beverage industry.