The world food trends are taking us closer to becoming more food conscious & rather than consuming more food the world-over trend is to consume more of nutrition. The concept of food has changed from taste based on quality based food products & the same has resulted in the increased sale of supplements & superfoods. For more than 10,000 years people have been satiating their nutritional requirements with cereals & grains available such as wheat, oats, rice maize, barley etc. Amaranth is a type of grain cultivated for more than 8000 years & though earlier a general population would not consume this grain considering it as a weed, this grain is gaining immense popularity in the quality food domain. Amaranth would earlier be consumed as a staple food by Maya, Inca & Aztecs, these civilizations would consume the grain as their instant source of energy & was the main part of all their rituals. Over the years we have come to a conclusion with the value-based food concept about immense nutritional properties of Amaranth seeds such as valuable phenolic compounds, antioxidants, minerals, fibre, calcium, protein and vitamins that are highly beneficial for human health, making this seed a go-to food today!
Booming Amaranth Oil Use:
The Amaranth Seed oil market segmentation is based on its usage. It is in the recent years that Amaranth oil usage is increased in the domestic as well as global industry after discovering its various purposes. As a rich source of protein & vitamins amaranth oil is used in food supplements & in foodstuffs. Amaranth seed oil is also used as animal feed additive as high nutrition for farm animals. Amaranth oil is as well used in cosmetic industry for varied purposes, amaranth seed oil as a source of antioxidant is used as lotion or topical for its anti-aging, reducing fine lines and wrinkles, it is also experimented for its use in lipsticks etc.. In the pharmaceutical industry, amaranth seed oil is used in formulation of pharmaceutical compositions beneficial for cell rejuvenation, improve immune system etc. Thus the growth of the application segments and increasing demand for natural oils is factor driving growth of the amaranth seeds utilisation in the industry. India having a huge pharmaceutical industry a lot is being experimented with the product considering its ‘squalene content’. This is drastically increased the demand of the product in the domestic market.
Global seeds market: Amaranth Trend:
The global industry for Organic Amaranth Seeds is huge. With the increased awareness for organic products & mainly superfoods, Organic Amaranth Seeds are consumed widely & in various forms. Amaranth seeds are consumed in salads, main course, deserts & cookies as whole as well as flour. Depending on geographic regions global amaranth seed market is segmented into five key regions: North America, Latin America, Europe, Middle East and Africa and Asia Pacific. Central America is the birthplace of amaranth seed. Amaranth seed is traced in countries such as Mexico, Africa, India, Russia, South America, China, North America etc. The major amaranth exports are from countries like Peru, Bolivia & India. The maximum imports are by the countries in Europe, USA & Canada. The year 2018-19 is experiencing increased Amaranth Seeds demand & mainly for Organic. This is mainly due to increased awareness about the products & its convenience to be used in food products. It seems that the product is soon going to be widely used with ever-increasing demand in 2019-20.
India Seeds Market: Amaranth Trend:
India being an agriculture-based economy a lot is dependent on the harvest & quality of seeds available. Therefore, in order to increase the quantity and quality of produce, efforts are made to introduce enhanced varieties of seeds with the help of advanced technology and modern agricultural methods. The Indian oilseeds market has experienced a CAGR of 18% from 2010-2018, which is due to the advanced technology & various measures taken by the government of India in development of R&D, product development & supply chain management. India today is the fifth largest seed market across the globe.
The major produce of the seeds consist of cereals & grains seeds. Amaranth Seeds are consumed in India since ancient times as a food for fasting. Generally, Amaranth puffs are a popular food in India & consumed with milk & jaggery. But with the recent trend of use of Amaranth oil in cosmetic & pharmaceutical industry, these seeds again have gained popularity in the domestic market as well & this has resulted in overall increased demand.
Estimated Increase in Production:
The Indian Amaranth crop has been shortened to provide for the increasing demands globally for the year 2018-19. Though the prices went high the Indian Organic Amaranth Seeds remain the most competitive across the globe. The government is also boosting the growth of Organic seeds in India & have taken more stringent measures to ensure quality, which has led to increased awareness amongst the organic farmers. It is due to the contribution of both the public & private sectors that has led to growth of better agriculture methods & demand.
It seems that considering the current year 2018-19, the Amaranth seeds production will increase for the year 2019-20. There is a huge demand globally for the product & that is backed by the increased domestic demand. Also, due to crop shortage this year the farmers are earning good amount of profits from the crop, so a rise is estimated in the production of Amaranth Seeds for the year 2019-20. Much depends on the monsoon in the Amaranth producing regions of India, still considering a stable environment it seems a positive production in the coming year which might lead to decreased pricing making the Indian market more competitive for the product.
