The quinoa market has experienced rapid growth, surging from $101.49 billion in 2023 to $112.72 billion in 2024, with a CAGR of 11.1%. This increase is linked to rising health consciousness and demand for plant-based proteins. The market is projected to continue its upward trajectory, reaching $169.54 billion by 2028, with a CAGR of 10.7%. Key trends include sustainable practices and innovative food formats.
Major Driver In The Quinoa Market
The growth of the quinoa market is expected to be fueled by the increasing awareness of health-conscious consumers. As healthy eating becomes a prevalent trend, consumers are seeking products that align with their evolving health, wellness, ethical, and sustainability preferences. Quinoa, known for its high fiber content, gluten-free nature, and complete essential amino acids, has gained popularity. In July 2021, Taste France For Business reported that 375 farmers cultivated quinoa on 7,500 acres, illustrating the expanding production. This surge in health awareness is projected to drive the quinoa market growth in 2023, 2024, and 2028.
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Quinoa Market Competitive Landscape
Sharp Corporation, General Mills Inc., Ardent Mills LLC, The Hain Celestial Group, Quinoa International Corp, Grain Millers Inc., Morning Foods Ltd., The British Quinoa Company, Hancock Seed Company, Andean Valley SA, Alter Eco Americas Inc., Quinoa Corporation, Heritage Harvest Seed, Andean Naturals Inc., Victory Seed Company, Blue Lake Milling Pty Ltd., Inca Organics, Quinoa Foods Company, Irupana Andean Organic Food S.A., Territorial Seed Company, Northern Quinoa Production Corporation, Keen One Foods LLC, Adaptive Seeds, Agrophilia, ComRural S.R.L., Quinoabol S.R.L., Inca Health Organic SAC, Mewar Impex, European Quinoa Group, The Real Seed Collection Ltd.
Key Quinoa Market Trend
Major companies operating in the quinoa market are focused on introducing advanced solutions, such as ancient grains, to provide a competitive edge in the market. Ancient grains are grains used to describe a category of pseudocereals that are purported to have been minimally changed by selective breeding. For instance, in August 2023, Mars, Inc., a US-based company that manufactures confectionery products, launched the Super Grains line. The Super Grains line is a rice- and grain-based meal that can be added to any meal and is packaged in microwaveable 8-ounce pouches that are ready to serve after 90 seconds. It is made with Tuscan herbs, Indian style, and Smoky Southwest flavors. The Tuscan Herbs variety contains quinoa, wheat berries, and pearl millet. The Indian style flavor is made with sorghum, quinoa, and finer millet. The Smoky Southwest variety is a mix of amaranth, pearl millet, sorghum, and quinoa.
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Quinoa Market Segmentation
The quinoa market covered in this report is segmented –
1) By Type: Organic, Inorganic
2) By Application: Food Industry, Cosmetic Industry, Pharmaceutical Industry, Other Applications
3) By End User: Ingredient , Packed Food
By Geography:The regions covered in the quinoa market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
South America was the largest region in the quinoa market in 2023.
The Quinoa Global Market Report 2024 furnishes information about the global quinoa market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
