Amaranth Oil Market Size, Share, Growth Report 2030

Market Overview    

The global Amaranth Oil market accounted for USD 651.4 Million in 2020 and is expected to reach USD 1,421.1 Million by 2028, growing at a CAGR of around 10.2% between 2021 and 2028.   

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.

COVID-19 Impact Analysis

Due to government-imposed lockdowns to prevent the spreading of COVID, the global Amaranth Oil industry has seen a small decrease in revenues in the short term. Because of the pandemic, the production and global supply chain of various industries stopped operating around the world. This impacted on Amaranth Oil market growth negatively.  However, the global markets are slowly opening to their full potential and theirs a surge in demand of Amaranth Oil as the demand in cosmetics industry is increasing continuously. The market would remain bullish in upcoming year. 

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.

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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.

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Type Segment Analysis Preview 

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.         

Application Segment Analysis Preview 

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.

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Key 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 among others.

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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