Market
Introduction:
Cultivated
by Aztecs 8,000 years ago in Peru, the ancient history of amaranth
can be traced to Mexico and Yucatan Peninsula. It is sometimes
referred to as a ‘Pseudo Cereal’ because its nutritional profile
is very much similar. Amaranth extracts are one of the best sources
for omega series fatty acids. Amaranth extract also consists of 5-9%
squalene in it which is well known for its several immune benefits
like immune system strengthening, cell rejuvenation and anti-oxidant
properties. The amaranth extract also provides anti-aging and
anti-inflammatory properties. The other amaranth extracts has found
applications in food supplements, aromatics and in high grade
lubricant additives. The cosmetics and other personal care industry
and the food industry are the largest consumers of amaranth extracts
which account for a large share of the total global amaranth extract
market. These segments are also expected to grow and strengthen the
global amaranth market because of the increasing demand for the
cosmetics and personal care products and food additives obtained from
the natural sources. The pharmaceutical segment is expected to have
the highest growth rate in the global market of amaranth extract.
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One
of the greatest contributors to the global amaranth extract market in
the past was Europe and is expected to escalate its demand for the
amaranth extract within the forecasted period.
Global
amaranth extract market: Segmentation
Global
amaranth extract market can be segmented on the basis of form,
application, sales channel
On
the basis of form, global amaranth extract market can be segmented
into Liquid extract and Powder extract. Liquid extract can be further
sub segmented into oils and dyes.
On
the basis of application, global amaranth extract market can be
segmented into Cosmetics, Foods and Pharmaceuticals. Cosmetics can be
further sub segmented into anti-skin aging, perfumery. The
pharmaceuticals can be further sub segmented into antiburn,
antitumor, bactericide, wound healing.
On
the basis of sales channel, Global amaranth extract market can be
segmented into direct and retail sales. Direct sales refers to direct
selling amaranth extract as an ingredient to other industries. Retail
sales is further segmented into modern trade, convenience stores,
grocery retailers, health stores, online retailers, and other
retailing formats.
Global
amaranth extract market: Drivers, Restraints, and Trends
The
global amaranth extract market is primarily driven by its health
benefits such as high nutritional value, temperature versatility,
skin identical nature and high squalene content.
Secondly,
the increasing demand for the amaranth extracts in various industrial
sectors such as the cosmetics and pharmaceutical is also believed to
be a key igniter in the market of global amaranth extract.
One
of the major challenges which stands in the face of the global
amaranth extract market is the government support since the amaranth
extract market is getting negligible support from the government
globally, it is becoming one of the major restraints for the global
amaranth extract market.
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Global
amaranth extract market: Regional Outlook
Depending
on the geographic regions, global amaranth extract market is
segmented into seven key regions: North America, Latin America, West
Europe, East Europe, and Asia pacific excluding Japan, Japan and MEA.
Because
of the strong cosmetic and pharmaceutical industrial base coupled
with health aware consumer base, Europe is expected to dominate the
manufacturing market of global amaranth extract among all the
regions.
Europe
is expected to be followed by North America, which was the supreme
market of Amaranth extract in the past and is more likely to remain a
significant market for the usage of amaranth extract in cosmetics,
food and pharmaceutical industry.
Asia
Pacific is however expected to be the largest growing market in terms
of CAGR within the forecasted period.
Latin
America is expected to have a moderate growth within the forecasted
period.
Global
amaranth extract market: Key Players
Some
of the prominent players of global amaranth extract market are:
Amaranth Bio, AMR amaranth a.s, Proderna Biotech pvt ltd, RusOlivia,
Flavex naturextracte GmbH, Ungerer & company and others
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