According to the report, published by Zion Market Research, the global amaranth oil market accounted for USD 461.5 Million in 2015 and is expected to reach USD 813.1 Million by 2021, growing at a CAGR of around 9.9 % between 2016 and 2021
Amaranth oil is a slightly light to medium in color and clear liquid is extracted from the seeds of two species of the genus amaranthus — A. cruentus and A. hypochondriacus that are called, collectively, grain amaranth. It is highly unsaturated and pourable at low temperatures. Amaranth oil is a delicate, agreeable taste and aroma that has greater usage. It is also one of the best resources for omega series fatty acids. Amaranth seed oil has around 5-9% squalene in it which is well known for its several medicinal benefits like immune system strengthening, cell rejuvenation, and anti-oxidation properties. It also provides anti-aging and anti-inflammatory properties apart from being a natural skin identical chemical which is readily absorbed by the skin.
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The global amaranth oil market is primarily driven by its health benefits such as high nutrition value, temperature versatility, skin identical nature and high squalene content. Secondly, the rapid growth of pharmaceuticals and cosmetic & personal care segment is expected to drive the amaranth oil market. However, minimal to nil governmental support, the high cost of production and lack of raw material availability is expected to hinder the growth of amaranth oil market. Nonetheless, increased demand for dietary supplements and healthcare products in emerging countries is likely to open new avenues for amaranth oil market in near future.
On the basis of the type of extraction methods, there are three commonly known types of amaranth oil. such as organic solvent (hexane) extraction, supercritical fluid extraction, cold press extraction and others which are under development. Among all the cold press extraction method is most common due to the low production cost and low associated technology for extracting amaranth seed oil. However, due to the good quality and high yield of the oil which is procured during the process, supercritical CO2 extraction method is predictable to have the maximum growth rate.
Furthermore, In addition to its benefits, amaranth oil also found applications in cancer therapies. Because of its beneficial properties, amaranth oil majorly applied in cosmetics and personal care industry, dietary supplements, pharmaceuticals, and fragrances. In pharmaceutical amaranth oil is used in formulations to reduce the drug dosage and the connected side effects The growing demand for natural ingredients based cosmetic and personal care products has further increased the demand for amaranth oil. However, cosmetic & personal care and Pharmaceutical segments are anticipated to dominate the market due to increasing awareness of health.
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Amaranth oil is used in the feed additive industry also to achieve high-grade nutrition for farm animals. Amaranth seed oil has omega-3, omega-6, omega-9 containing fatty acids which prove to be the rich source of vitamins and protein. The oil has found applications in high-grade lubricant additives and in aromatics (fragrance), furthermore in the food supplement industry as dietary corrective supplements foodstuff and dietary supplement capsules due to abovementioned properties.
Because of strong cosmetic and the pharmaceutical industrial base coupled with health aware consumer base, Europe is expected to dominate the market among all the regions due to strong cosmetic and pharmaceutical industrial base. Europe was followed by North America in the same year. Whereas, Asia-Pacific is projected to be the fastest growing market due to increase in population and disposable income in emerging economies.
There are very few companies in amaranth seed oil market. Many of them are very small companies that supply regionally only. The companies such as Amaranth Bio Company, AMR Amaranth a.s, Proderna Biotech Pvt. Ltd., RusOliva, Flavex naturextracte GmbH are leading the market.
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This report segments the global amaranth seed oil market as follows:
Global Amaranth Oil Market: Type Segment Analysis
- Cold Pressed
- Supercritical Fluid Extraction
- Organic Solvent
Global Amaranth Oil Market: Application Segment Analysis
- Cosmetic & Personal Care
- Food Supplements
Global Amaranth Seed Oil Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East & Africa
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