Quinoa Protein Market By Source (Organic, Conventional); By Type (Concentrate, Isolate, Hydrolyzed); By End-use (Food and Beverages, Infant Nutrition, Sports Nutrition, Pharmaceuticals, Animal Feed); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2022-2032
Quinoa Protein Market Overview
The global quinoa protein market size was valued at around USD 47.8 million in 2022 and is projected to grow at a compound annual rate of growth (CAGR) of around 9.5% from 2022 to 2032.The market size is projected to succeed in USD 116.2 million by 2032.
Growing consumer inclination towards health and fitness activities today has made the consumption and demand for high protein diets to an ever-rising high. Additionally, high protein diets are said to improve bone health and create important hormones in the body. As such, among all others, the quinoa protein is an emerging protein which has been rapidly gaining momentum in the market and is referred to as the “‘King of Proteins”.
Derived from the quinoa, these proteins act as complete proteins which contain all the nine essential amino acids and meet the high protein demands of consumers. Quinoa protein can be utilized in different food and beverage applications such as soups, sauces, gravies, juices, smoothies, dairy products, as it is filled with iron, antioxidants and fibre, and can help with weight loss, diabetes, blood pressure levels, heart diseases, osteoporosis and even cancer.
Owing to this, global quinoa protein market is expected to see a substantial growth at a more than healthy CAGR over the coming years.
Quinoa Protein Market Drivers
The growth of this market is attributed towards various factors including the increasing usage of quinoa in the food industry, growing health consciousness among the consumers, rising demand and requirement for high protein foods and ingredients, growing gluten-free consumers worldwide etc
Moreover, quinoa protein is increasingly used as meat substitute products as they contain the same amount of protein as animal protein and also contain a similar texture of meat. Additionally, because of its water-holding capacity, quinoa protein can be used as an emulsifier in food industry. This beneficial characteristic of quinoa protein is supported by the thriving trend of clean label, in which artificial food ingredient and additives are generally avoided.
Furthermore, Quinoa is one of the easiest and most nutritious staple foods to cook and also is the most versatile of Andean grains for human consumption: whole grain, raw or toasted flour, flakes, semolina and instant powder can be prepared in many different ways, producing a wide array of traditional and innovative recipes including cereals which are generally consumed at breakfast. Some ready to eat items include puffed, granular, flaked, shredded and hot cereals to which a hot liquid is added before consumption. Also reconstituted baby foods which can improve dietary quality and can also be served to pregnant women are made available. This contributes comprehensively in the growth of this market.
However, the availability of multiple substitutes of quinoa protein, , rising global warming , increasing price of quinoa, limited quinoa production due to lack of agricultural activities and Covid-19 effects in the supply-chain activities are hampering and restrain the growth of this market.
Quinoa Protein Market Challenges
Although the market for quinoa protein is expanding quickly, there are still a number of obstacles that must be removed before it can realise its full potential. Several of these difficulties include:
Limited production: The quantity of land that may be used for the growth of quinoa is constrained. Quinoa is predominantly farmed in South America. As a result, the market may experience shortages and price volatility.
Quinoa protein faces competition from other plant-based proteins such those from soy, pea, and hemp. These other protein options are generally accessible and frequently cheaper than quinoa protein.
Limited consumer knowledge: Despite quinoa's rising popularity, many customers are still unaware of its health advantages or how to incorporate it into their diets. The demand for quinoa protein products may be constrained by this ignorance.
Quinoa protein is challenging to extract and purify, which can drive up manufacturing costs and reduce the supply of high-quality protein.
Sustainability issues: As quinoa demand rises, sustainability issues about its production are raised. The abuse of resources like water and land, as well as possible environmental effects from pesticides and fertilisers, can all result from increased demand.
Quinoa Protein Market Segmentation
- Food and Beverages
- Infant Nutrition
- Sports Nutrition
- Animal Feed
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Quinoa Protein Market Regional Insights
North America is currently dominating the global quinoa protein market owing to the high consumption of high protein diets in the region, increasing geriatric population, health-conscious consumers and is also anticipated to witness steady growth in the coming years. However, extreme climate changes in the region have impeded the market in this region.
Latin America accounts for a majority of the share in the global quinoa protein market as quinoa is predominately cultivated in this region, majorly due to its extremely low-temperature condition. It is mainly cultivated in Peru, Ecuador and Bolivia, which are the major quinoa producing countries in the region.
Asia Pacific region is expected to witness fastest growth in the global quinoa protein market because of the increasing per capita expenditure, growing health consciousness and increase in demand for the same in developing regions, such as China and India.
Whereas the Europe region is expected to witness significant growth in the demand for quinoa protein due to the increasing vegan and gluten-free products consumption in the region, the Middle East & Africa is expected to witness a single-digit growth in the global quinoa protein market in the years to come.
Key Players in Quinoa Protein Market
- Andean Naturals Inc
- YT Biochem
- Organic Meets Good (OMG)
- BI Nutraceuticals
- CK Ingredients
- Active Concepts LLC
- Formulator Sample Shop
- Shaanxi Pioneer Biotech Co.
- Charles Trading, Inc.
- (Xi'an) Biochem Co. Ltd
- Other Players
Quinoa Protein Market Recent Development
- In May 2020, Ingredion Incorporated, a leading global provider of ingredient solutions to the food manufacturing industry, announced that it has entered into an exclusive commercial agreement with Northern Quinoa Production Corporation to globally distribute and market NorQuin's quinoa flours, which will be grown and milled in the Canadian plains. This broadens the Company’s range of plant-based protein ingredients with high-value quinoa flours that are widely sought by consumers
- In Novermber 2020, Brunei-UAE joint venture Saahtain rolled out its new product brand named Plantasti, billed as the world’s first halal plant-based meat ready-to-eat meals. The halal manufacturer is a joint venture between United Arab Emirates-based Saahtain Group and Brunei’s Strategic Development Capital Fund under the Ministry of Finance and Economy. Also, reportedly, the products are intended and produced to look and taste like meat but are more eco-friendly meat substitutes.
Timeline Considered for Analysis:
- 2019: Base Year
- 2020: Estimated Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyses the global quinoa protein market by the following segments:
Customization: We also offer customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Quinoa Protein Industry Report
- What is the overall market size in 2021? What will be the market growth during the forecast period i.e. 2023-2032?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?