Global Black Quinoa Market was valued at US$ 116.6 Million in 2022, exhibiting a CAGR of 8.5% over the forecast period (2023 to 2030) to reach US$ 224.4 Million by 2030.
Global Black Quinoa Market, By Type (Organic and Conventional), By Application (Food & Beverages, Animal Feed, Cosmetics, Pharmaceuticals, and Others), and By Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) as published by Coherent Market Insights.
Global Black Quinoa Market- Driver
Multiple Use of Black Quinoa
Black quinoa is rich in folate, a B vitamin that is necessary for a healthy liver and nervous system, and healthy skin, hair, and eyes. It is also rich in copper, manganese, and alpha-linolenic acid that aid in treating inflammation and maintaining cardiovascular health. Quinoa flour is the most commonly used product made from quinoa. Quinoa flour can be used in any flour-based products such as pasta, bread, biscuits, and others. Quinoa noodles provide an alternative for people with celiac disease or gluten sensitivity, and a product with a variety of organoleptic properties.
Global Black Quinoa Market- Opportunities
Increasing Use of Black Quinoa in Food & Beverages
Foods and beverages manufacturer are using black quinoa, owing to health benefits offered by black quinoa. Market players are incorporating significant ingredients to improve the flavor and nutritional content of their products. The use of quinoa in cosmetics is anticipated to boost demand for related goods. Additionally, it is anticipated that quinoa's use in preserving health and preventing disease will contribute to a rise in value over the course of the forecast period. Normally, wheat bran is used in baking; however, quinoa now has a new delicious and healthy baking use, and as a result, it is anticipated that demand for quinoa will rise.
Global Black Quinoa Market- Restraints
Presence of significant price fluctuations in market
The black quinoa market, is subject to significant fluctuations in price, which can have a considerable impact on affordability and profitability. Weather fluctuations, such as drought or flooding, can affect the yield and quality of quinoa crops, resulting in supply disruptions and price volatility. Additionally, global supply and demand patterns, such as changes in consumer preferences or heightened competition, can affect the price of quinoa. Trade policies, import/export regulations, and international regulations can also affect the price and availability of quinoa in different markets. It is essential to manage these price variations in order to ensure the growth and sustainability of the market for black quinoa. For instance, in 2022, the average price of black quinoa was around $3 per pound. This is significantly higher than the price of other varieties of quinoa, which typically sell for around $1 per pound.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/black-quinoa-market-4616
Key Takeaways:
On the basis of region, Asia Pacific is expected to grow at the fastest rate during the forecast period.
On the basis of type, organic segment dominated the global black quinoa market with around 57% of market share in terms of revenue in 2022, followed by conventional.
Global Black Quinoa Market- Trends
Increasing Demand for healthy and organic products
The global quinoa market is experiencing a surge due to the health benefits and nutritional content of quinoa. This high-fiber and gluten-free product is highly sought after by health-conscious customers. As a result, it is increasingly being incorporated into food products, including noodles, breads, and pasta. Furthermore, the cosmetic industry's increasing preference for organic and natural products is also contributing to the growth of the quinoa market. Furthermore, the consumption of quinoa in breakfast foods is also increasing due to its inclusion as an ingredient, further contributing to the global market demand for quinoa.
Global Black Quinoa Market - Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 global pandemic has caused significant disruption to the global business and marketing landscape. The pandemic has had a significant impact on the consumption of quinoa, as consumers have been looking for food staples that are not only long-lasting but also nutritious. As a result, manufacturers are facing difficulties in producing quinoa due to a shortage of raw material and labor. As the pandemic has passed, the market for quinoa is expected to continue to grow as consumers look for food products that are healthy and increase the levels of antioxidants in the body.
Global Black Quinoa Market-Competitive Section
- The Quinoa Company
- The J.M. Smucker Company
- ARDENT MILLS
- ADM Animal Nutrition
- IMG Holdings Inc.
- Wunder Basket
- Northern Quinoa Production Corporation
- Kiwi Quinoa
- The British Quinoa Company
- Organic Farmers Co.
