by Quinoa is an ancient Andean grain that is renowned for its excellent nutritional profile and health benefits. Native to South America, quinoa has a mild, nutty flavor and is loaded with essential vitamins, minerals, antioxidants, and amino acids. Compared to other grains, quinoa is considered a complete protein as it contains all nine essential amino acids. In addition to being highly nutritious, quinoa is also gluten-free which makes it suitable for people with celiac disease or gluten sensitivity. The growing health and wellness trend along with the rising prevalence of gluten intolerance has contributed to the increased demand for quinoa worldwide in recent years. Quinoa can be easily incorporated into soups, salads, breakfast cereals, desserts and snacks. Its versatility and numerous nutritional advantages have made quinoa a popular substitute for rice, wheat, oats and other grains.
The global quinoa grain market is estimated to be valued at US$ 1.5 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 key trends:
One of the key trends witnessed in the quinoa grain market is product innovation. Various players are focusing on introducing quinoa in different forms and formats to increase its appeal among consumers. For instance, quinoa flakes, puffs and flour are available which can be used to make baked goods, snack bars and breakfast cereals. Pre-cooked quinoa grains in pouches or cups are also gaining traction as they are more convenient. Another important trend is the increasing cultivation of quinoa worldwide. Countries like the US, Canada, France and Australia are investing in quinoa farming to reduce import reliance and meet the surging domestic demand. Furthermore, quinoa’s rising popularity as a superfood has encouraged many restaurants and food chains to add quinoa dishes and meals to their menus. This is expected to further augment market growth over the coming years.
Porter’s Analysis
Threat of new entrants: Low, as the quinoa grains market is dominated by established players and requires moderate capital investments.
Bargaining power of buyers: Moderate, as buyers have a few global suppliers to choose from and product differentiation is low.
Bargaining power of suppliers: Moderate to high, as key supplier countries like Bolivia, Peru, and the United States control majority of the global quinoa supply.
Threat of new substitutes: Low, as quinoa offers a unique nutrient profile compared to major grains like rice and wheat.
Competitive rivalry: High, as the market is growing and major players compete on the basis of price, quality, and product innovation.
Key Takeaways
The global quinoa grain market is expected to witness high growth over the forecast period. The global quinoa grain market is estimated to be valued at US$ 1.5 billion in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023-2033.
Regional analysis – Latin America currently dominates the global quinoa grains market, led by key producing nations like Bolivia and Peru. The Asia Pacific region is expected to be the fastest growing market attributed to rising health consciousness.
Key players – Key players operating in the quinoa grain market are Andean Valley Corporation, Alter Eco Quinoa, Ancient Harvest, The Quinoa Company, Arctic Food Ltd., Hain Celestial, and Keen One Quinoa.
The global quinoa grain market is fragmented with the presence various small and large players. Large producers focus on strategic partnerships to expand global footprint while small players cater to niche markets. Innovation in product offerings such as flavors, ready-to-eat options are expected to boost demand. Rising health awareness and preference for gluten-free products are also driving the demand for quinoa globally.
