The Quinoa Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Quinoa Global Market Report 2024, The quinoa market size has grown rapidly in recent years. It will grow from $101.49 billion in 2023 to $112.72 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to growing health and wellness trends, increasing awareness of quinoa benefits, rise in vegetarian and vegan lifestyles, expanding gluten-free food market, culinary diversity and versatility.
The quinoa market size is expected to see rapid growth in the next few years. It will grow to $169.54 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to continued focus on healthy eating, sustainable and ethical food choices, rising demand for plant-based proteins, exploration of ancient and traditional foods, globalization of cuisine and cross-cultural influences. Major trends in the forecast period include sustainable and fair trade practices, innovations in quinoa-based snack formats, quinoa flour for gluten-free baking, functional food and nutritional benefits, collaborations and partnerships in the supply chain.
The increase in health awareness will propel the growth of the quinoa market during the forecast period. Healthy eating has become the norm, with most consumers demanding foods and beverages to meet progressively nuanced health and wellness, ethics, and sustainability criteria. People are preferring quinoa as it is high in fiber, gluten-free, and contains all the essential amino acids. With quinoa becoming more readily available, product innovation and the increased desire for healthy foods will fuel its future growth. For instance, in July 2021, according to Taste France For Business, a France-based Business-to-business (B2B) platform under the Ministry of Agriculture and Food in France, Quinoa has been sown on 7,500 acres (3,000 hectares) by 375 farmers. Therefore, the increase in health awareness fuels the growth of the quinoa market.
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The quinoa market covered in this report is segmented –
1) By Type: Organic, Inorganic
2) By Application: Food Industry, Cosmetic Industry, Pharmaceutical Industry, Other Applications
3) By End User: Ingredient , Packed Food
Major companies operating in the quinoa market are focused on adopting strategic partnerships to gain a competitive edge in the market. Strategic partnerships refer to collaborative alliances formed between two or more organizations with the aim of achieving mutual benefits and pursuing common goals. For instance, in May 2022, SIMPLi, a US-based food company, partnered with Whole Foods Market, Inc., a US-based supermarket chain company. With this partnership, quinoa aims to expand its Regenerative Organic Certified (ROC) product line and provide consumers with access to high-quality, responsibly sourced pantry ingredients.
The quinoa market report table of contents includes:
1. Executive Summary
2. Quinoa Market Characteristics
3. Quinoa Market Trends And Strategies
4. Quinoa Market – Macro Economic Scenario
5. Global Quinoa Market Size and Growth
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31. Quinoa Market Other Major And Innovative Companies
32. Global Quinoa Market Competitive Benchmarking
33. Global Quinoa Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Quinoa Market
35. Quinoa Market Future Outlook and Potential Analysis
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