The quinoa seed market is projected to reach USD 375.2 million in 2024, up from US$ 366.5 million in 2023. With an anticipated CAGR of 2.4% from 2024 to 2034, sales are forecasted to achieve USD 475.6 million by 2034.
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As awareness of the impact of food on health increases, there is a rising demand for plant-based foods. Quinoa seeds, being plant-based, are seeing growing global demand.
Quinoa is increasingly replacing traditional ingredients such as rice and barley in many dishes due to its perceived health benefits. This shift towards quinoa as a healthier alternative is driving growth in the quinoa seed market.
Quinoa’s utility extends beyond food preparation; it is also being utilized in beverages like beer and skincare products. This diversification offers additional market opportunities beyond the culinary sector.
Competitive Landscape
Market players are concentrating on the healthy aspects of quinoa seeds when it comes to marketing the product. Thus, many marketing campaigns focus on the superfood aspect of quinoa and quinoa seeds.
As key players are looking to increase their foothold in the market, acquisitions and mergers are becoming common strategies. Market players are focusing on combining supply chain capabilities in light of the increased import and export of quinoa seeds with advanced farming technologies. They are also focusing on mergers and acquisitions to increase their profits in the market.
Recent Developments in the Quinoa Seed Market
- In June 2023, a combined effort from two American universities produced a new variety of quinoa plants. The plant was developed by scientists from Brigham Young University and Washington State University and is named the Cougar Quinoa.
- In May 2022, Bhutan identified quinoa as a priority crop. Though the crop was only introduced in the country in 2015, the recognition by the government is expected to increase production significantly.
- In January 2021, the Australian Department of Primary Industries and Regional Development (DPIRD) announced the development of a technique to correctly measure the amount of saponin in a quinoa seed. Saponin is considered harmful to the human body in high doses and is thus required to be measured properly.
Key Companies in the Quinoa Seed Market
- Above Food Inc.
- Alter Eco
- Irupana Andean Organic Food SA
- Andean Naturals
- Industrial and Technological Complex Yanapasiñani SRL
- Arrowhead Mills Inc.
- Quinoabol SRL
- The British Quinoa Company
- Ancient Harvest
- Quinoa Foods Company
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Key Segments
By Nature:
- Organic
- Conventional
By Form:
- Whole Grain
- Flour
- Crisps & Flakes
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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