Quinoa grain is a highly nutritious ancient whole grain that are typically grown for its edible seeds. While quinoa is botanically a seed, it is prepared and eaten as a grain. Quinoa grain contains higher amount of protein, fiber, vitamins, minerals, and antioxidants such as quercetin and kaempferol as compared to other major cereal grains. With rising health concerns among people, demand for healthy food is growing rapidly. Quinoa is gluten-free and easily digestible making it an ideal choice for people suffering from celiac disease and gluten intolerance.
The global Quinoa Grain Market is estimated to be valued at US$ 2 Billion in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023-2033, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity: The growth in health conscious population especially in developed regions creates a massive market opportunity for quinoa grain producers and suppliers. With increasing awareness about benefits of quinoa, more people are incorporating it in their regular diet. The high nutritional value of quinoa makes it suitable for people of all age groups. Manufacturers are launching innovative quinoa based foods such as bakery products, pasta, snacks to tap into rising demand from health conscious consumers. Plant-based and gluten-free products are in high demand and quinoa being a gluten-free superfood can meet this demand effectively.
Porter's Analysis
Threat of new entrants: Moderate threat exists as considerable investment is needed to enter this market. Also, established players enjoy brand recognition and economies of scale.
Bargaining power of buyers: Moderate as there are several substitute options available. However, health benefits of quinoa make it unique.
Bargaining power of suppliers: High as only few countries cultivate quinoa. Suppliers can demand higher prices and pass higher input costs to buyers.
Threat of new substitutes: Moderate threat from other grains, however, quinoa's superior nutritional profile attracts health-conscious consumers.
Competitive rivalry: High as major players compete on the basis of quality, price, promotion and distribution.
SWOT Analysis
Strengths: High nutritional value, gluten-free nature, expanding applications.
Weaknesses: Variations in harvests depend on climatic conditions, limited cultivation geographies.
Opportunities: Growing health awareness, developments in cultivation practices to overcome yield issues.
Threats: Vulnerability to climate change, competition from other superfoods.
Key Takeaways
The global quinoa grain market is expected to witness high growth during the forecast period. The rising awareness about health benefits and nutritive value of quinoa is driving its demand. The global Quinoa Grain Market is estimated to be valued at US$ 2 Billion in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023-2033.
The South American region accounts for over 90% of global quinoa cultivation. Countries like Peru, Bolivia, Ecuador are suited for quinoa farming due to suitable agro-climatic conditions. The production is increasing in North America and Europe as well due to developments in cultivation methods.
Key players operating in the quinoa grain market are Arrowhead Mills, Andean Naturals, Ancient Harvest, QUINOA CORPORATION, Highland Farm Foods, The British Quinoa Company, Nature's Superfoods, Dutch Quinoa Group, International Quinoa Foods Products, Nutriwish.
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