Quinoa Flour Market Growth Opportunities, Gross Margin, Key Driven Factors, Industry Highlights by Forecast to 2023
Quinoa belong to Chenopodium (Goosefoot) family, it is cultivated in alkaline soil, in colder climates, and in less quantity of water. Increasing awareness about benefits of using quinoa flour in diets help in improving metabolism, enhances digestive health, alleviating blood pressure, and reducing fat accumulation in the human body. Gluten-free property of quinoa flour has resulted to strong demand in the market, which in turn has encouraged food & beverage manufacturers to switch to quinoa from other crops. Moreover, due to high vitamin B12 (Cobalamin) content in quinoa, which helps in formation of red blood cells and helps preventing anemia. The vitamin B3 (niacinamide) in quinoa, aids in regulating digestion and prevents risk of heart diseases. Thus, these factors are expected to boost the growth of quinoa flour in the market. Thus, considering these factors, quinoa flour market is expected witness high growth in forecast period.
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Based on type, the global quinoa flour market has been segmented into white, black, and red. The white segment is anticipated to gain the largest revenue share in the global quinoa flour market and shall maintain lead throughout the forecast period. White quinoa flour is widely available as compared to other type of quinoa flours and are being used in various food items such as casseroles, breads, cookies and sweet and savoury snacks. The same segment is expected to grow with the highest growth rate owing to the increasing awareness about usage of quinoa flour as an alternative to wheat or corn flour is expected to boost the growth of quinoa flour in the market.
The global quinoa flour market has been segregated, by category, into organic and conventional. The conventional segment is expected to garner major share in the global quinoa flour market owing to the huge availability and low prices of conventional quinoa flour. However, the organic segment is anticipated to project a higher CAGR during the forecast period due to the rising inclination of consumers towards organic products.
The global quinoa flour market has been segregated, by distribution channel, into store-based and non-store based. The store-based segment has been further segregated into supermarkets and hypermarkets, convenience store, and others. The store-based segment is expected to generate higher revenue, with the supermarkets and hypermarkets sub-segment being the largest due to the strong and widespread network of stores. The non-store-based segment is expected to register the higher CAGR during the assessment period owing to technological advancements in the e-commerce industry and growing consumer preference for online retailing.
Some of the key players in the global quinoa flour market are Quinoa Foods Company (Bolivia), Northern Quinoa Production Corporation (Canada), Andean Valley Corporation (Bolivia), King Arthur Flour Company, Inc. (US), Bob’s Red Mill Natural Foods, Inc. (US), The British Quinoa Company (UK), Nutriwish (India), Andean Naturals, Inc. (US), Dutch Quinoa Group BV (Netherland), Organic Farmers Co. (India).
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The global quinoa flour market has been segmented on the basis of region, into North America, Europe, Asia-Pacific, Rest of the World.
North America is expected to dominate the global quinoa flour market owing to the large production of quinoa flour in the region. Countries such as the US and Canada are major of quinoa flour products, as this flour is gluten free and has low glycemic index. Thus, quinoa is used as substitute of wheat flour or rice in various food items. Also, to the increasing prevalence of gluten intolerance and celiac disease, especially in the US.
Asia-Pacific & ROW quinoa flour market is expected to grow at a rapid pace due to the surging production and consumption of quinoa flour in the regions. Moreover, Europe is also expected to project a significant market share owing to the increasing awareness regarding the health benefits of quinoa flour and due to the increasing adoption of healthy, gluten-free diets by the rising health-conscious population.