Amaranth is a cosmopolitan genus of short lived or annual perennial plants. It grows five to six feet’s in maroon or crimson colour. Some amaranth species are cultivated as pseudo cereals, leaf vegetables, and ornamental plants. Amaranth comprises various elements such as tocopherols, linoleic acid, stearic acid and oleic acid. It also contains protein rich acids and high quality squalene.
It is used in pharmaceuticals, food supplements, cosmetics and fragrance industries. The global amaranth market is increasing due to its various applications in health care products. Amaranth oil helps in reducing weight and also contains vitamin k, which helps in reducing cholesterol and prevent heart related disease. Amaranth oil is also the important part of advance cancer therapies.
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Global Amaranth Market: Drivers and Restraints
Global amaranth market is growing due to increasing food processing industry and growing trend of using natural ingredients in cosmetics. Moreover, the various health benefits of amaranth such as protein content, antioxidant activities, bone development, digestive health, vision health and weight loose, etc. are fuelling the adoption of amaranth in health and personal care products. Furthermore, the strong command of supply chain, which is making the product easily available everywhere, is also driving the growth of global amaranth market. The ease of availability of the product is also driving the growth of global amaranth market.
Although, the global amaranth market is growing but due to higher cost of production only few companies are operating in this market, which is limiting the growth of global amaranth market. Also, the uncertain climatic conditions are also restricting the global amaranth market growth. Furthermore, food colorants policies in regions such as Europe and North America are restraining the growth of global amaranth market. Since, consumers are now more health conscious and avoid buying food products that are artificially coloured may risk the products natural purity, which acts as a major challenge to adoption of amaranth especially in food colorants.
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The global amaranth market is divided into seven regions, namely Latin America, North America, Asia Pacific excluding Japan (APEJ), Western Europe, Japan, Eastern Europe and Middle East and Africa (MEA). India, Korea, china, France, Germany, USA, Italy and Canada are the major producing countries of amaranth. Furthermore, Asia Pacific and Latin America are among the emerging clusters of the globe, which are anticipated to witness an above average CAGR over the forecast period. However, the global amaranth market is expected to witness a steady growth by the end of 2026.