SEATTLE, Sept. 10, 2021 (GLOBE NEWSWIRE) -- The global black quinoa market was valued at US$ 100.39 million in 2020, and is expected to exhibit a CAGR of 9.8% during the forecast period (2020-2027).
Key Trends and Analysis of the global black quinoa market:
Global black quinoa market has witnessed rapid growth, in terms of revenue in the past few years, owing to the rising health awareness among customers across the globe. Quinoa is a grain-like seed that cooks quickly and has a mild, nutty flavour, fluffy consistency, and a pleasing bite. The black quinoa is a naturally dark-colored, visually appealing quinoa with the same wonderful flavour and nutritional benefits as white quinoa. Quinoa isn't actually black, it has a black, white, tan, and brown colour scheme. Black quinoa seeds are similar to millet seeds in size, however they are flat and oval in shape. When the seed is cooked, the outer germ circlet breaks away, leaving a small white spiral tail that is attached to the kernel.
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Key Market Takeaways:
The quinoa market is divided into segments based on the industries in which it is used, such as food, cosmetics, and pharmaceuticals. Quinoa is used in the food sector to make noodles, spaghetti, vegetable soup, muffins, and breads, among other things. Quinoa can be eaten with breakfast, salads, and sandwiches, among other things. Quinoa is utilized in the manufacturing of cosmetics products such as anti-aging creams, and spot removal products. Moreover, black quinoa seeds also offers good substitute for Couscous or Bulgur in various dishes.
Quinoa, commonly known as Chenopodium quinoa, is a grain crop grown for its edible seeds. Quinoa is high in manganese, copper, phosphorus, magnesium, fibre, folate, zinc, and other nutrients, making it a nutritious food to eat. Quinoa has health benefits such as lowering the risk of cardiovascular disease and type two diabetes, regulating blood sugar, helping to manage cholesterol levels, and lowering the risk of cancer.
Among regions, North America held a significant share in the global black quinoa market in 2019. This is owing to growth of the pharmaceutical market in the region driving demand for black quinoa. For instance, according to the Patented Medicine Prices Review Board, Canada (PMPRB), from 2002 to 2017, total pharmaceutical sales in Canada have doubled to reach US$ 27.0 billion, with 87.7% sold to retail drug stores and 12.3% sold to hospitals. On the other hand, Latin America is expected to gain significant growth over the forecast period, as over 95% of worldwide quinoa production takes place in Bolivia and Peru.
Covid-19 Impact Analysis:
The COVID-19 has had a significant impact on the global quinoa seeds market: directly affecting domestic and international production and demand, disrupting the supply chain and trade movements in terms of export-import, and having a financial impact on firms and financial markets operating in the segment. Quinoa seeds are in rising demand due to shifting consumption habits and increased health awareness, particularly in the European countries. Price variations and pesticide residue levels, on the other hand, are stifling the growth of quinoa seeds. Quinoa has attracted the attention of consumers for its nutritional advantages, gluten-free characteristics, and potential as a functional food ingredient.
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Competitive Landscape:
Major players operating in the global black quinoa market include 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, and Organic Farmers Co.
Leading companies in the market are focusing on strategies such as new product development, which is expected to drive the market growth. For instance, in August 2020, Quinola, one of the leading manufacturer of quinoa-based food products, launched new range of microwave meals for kids, available in three variants: Thai Quinoa, Mediterranean Quinoa, and Tex-Mex Quinoa. Moreover, in June 2021, Doves Farms launched new specialty flour range with unique tastes and textures, as well as nutritional benefits. The new range include Coconut, Chickpea, Quinoa, organic Oat, Teff, and Brown Rice flour. The new range of flour launched by the company is vegan, organic, kosher, and gluten free, with multiple products offering a source of, high protein and fibre.
Market Segmentation:
- Global Black Quinoa Market, By Type:
-
- Organic
- Conventional
- Global Black Quinoa Market, By Application:
-
- Food & Beverages
- Animal Feed
- Cosmetics
- Pharmaceuticals
- Others
- Global Black Quinoa Market, By Region:
- North America
- U.S.
- Canada
- Europe
- U.K.
- Italy
- France
- Germany
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Middle East & Africa
- Middle East
- Africa
- North America
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