Amaranth Oil Market Size, Share, Trends, Growth 2032

Amaranth Oil Market Insights

Zion Market Research has published a report on the global Amaranth Oil Market, estimating its value at USD 788.19 Million in 2023, with projections indicating that it will reach USD 2143.92 Million by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 11.76% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Amaranth Oil Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Amaranth Oil Market: Overview 

Amaranth oil is a smooth, light-to-medium brown substance obtained from the seeds of two species of Amaranthus, A. hypochondriacus and A. cruentus, collectively known as grain amaranth. A few select species of the amaranth crop are used as the raw material for amaranth seed oil. There are more than sixty different varieties of amaranth, but only three of them are considered to possess high levels of oil.  Amaranth oil is high in natural Vitamin E complex and contains a lot of unsaturated fatty acids including linoleic acid and oleic acid, as well as omega 6 and 9 fatty acids, making it very good for the skin. As a result, it's used as a base oil to hydrate dried, weakened, or ageing skin.

Amaranth oil has high nutritious value, temperature versatility, a lot of squalene, and epidermis properties. Amaranth oil contains squalene, which has anti-inflammatory, anti-oxidant, and anti-aging effects. Its inherent ability to absorb UV radiation makes it suitable for use in sunscreen cosmetics. Pharmaceutical formulations based on amaranth oil reduce side effects of drug dosages. Squalene's immune-boosting and cell-rejuvenation effects make it useful in medicinal applications. It's also a fragrant element that can be used for both medicinal and aromatic purposes. Some end-user industrial uses for amaranth oil include lubricant additives, and rubber chemical additives.

The health benefits of amaranth oil, such as its high nutritional value, skin-identical quality, high squalene content, and temperature flexibility, are driving the global market. The amaranth oil demand is projected to be boosted by the pharmaceutical industry's optimistic attitude for developing innovative medicines dependent on bio-based raw materials.

The significant decrease in the global Amaranth Oil market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on the economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.

Amaranth Oil Market: Growth Factors

The health benefits of amaranth oil, such as its high nutritional value, skin-identical quality, high squalene content, and temperature flexibility, are driving the global market. The amaranth oil demand is projected to be boosted by the pharmaceutical industry's optimistic attitude for developing innovative medicines dependent on bio-based raw materials. Furthermore, the amaranth oil industry is expected to benefit from the steadily growing cosmetics and personal care as well as pharmaceuticals segments. Nonetheless, the lack of government funding, the high cost of production, and the scarcity of raw materials are all expected to suppress the development of the amaranth oil market.

Amaranth Oil Market: Segment Analysis  

Cold pressed, Supercritical Fluid Extraction(SFE), and organic solvent are the three main segments based on type of Amaranth Oil. Because of the low cost of production and low related procedure for extracting amaranth seed oil, the cold press extraction method is the most used.         

On the basis of application Amaranth Oil market is segmented into Cosmetic & Personal Care, Pharmaceutical, Food Supplements and Fragrance. The Cosmetic & Personal Care segment is dominating the market and during the forecast period and is expected to grow at a rapid rate. The exploration of new product developments in  Pharmaceutical segment is expected to expand rapidly in the coming years.

Amaranth Oil Market: Report Scope

Amaranth Oil Market: Regional Analysis

Europe dominated the amaranth oil market in 2015 due to the high demand for amaranth seed oil by various end user industries such as in this region and it is expected to continue to lead this market in the coming years. Europe was followed by North America in the same year. However, Asia-Pacific is likely to be the fastest growing market due to a large number of population coupled with the increase in disposable income in developing economies.

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Amaranth Oil Market Players & Competitive Landscape

Some of the major players of global Amaranth Oil market includes  

• Amaranth Bio Company
• AMR Amaranth a.s
• Proderna Biotech Pvt. Ltd
• RusOliva
• Flavex naturextracte GmbH

The global Amaranth Oil Market is segmented as follows:

By Product

• Cold Pressed
• Supercritical Fluid Extraction
• Organic Solvent

By Application

• Cosmetic & Personal Care
• Pharmaceutical
• Food Supplements
• Fragrance

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa