Few of the leading companies in the global amaranth oil market include AMR Amaranth a.s, Amaranth Bio Company, RusOliva, Proderna Biotech Pvt. Ltd., and Flavex naturextracte GmbH. As per the report, the worldwide amaranth oil market valued for USD 461.5 Million in 2015 and is projected to attain USD 813.1 Million by 2021, developing at a CAGR of about 9.9% between 2016 and 2021.
Amaranth oil is a somewhat light-to-medium colored and clear liquid is derived from the seeds of 2 types of the Genus Amaranthus—A. hypochondriacus and A. cruentus that are referred, together, grain amaranth.
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Several health benefits to drive the amaranth oil market growth
The global amaranth oil market is majorly propelled by its health advantages such as high nutrition value, skin-identical nature, high squalene content, and temperature versatility. Also, it is among the best sources for the omega series fatty acids. The oil has about 5–9% squalene in it that is recognized for its numerous medicinal advantages such as cell rejuvenation, anti-oxidation properties, and immune system strengthening. Nevertheless, the least to nil support by the governmental, the high price of production, along with the dearth of raw material accessibility is projected to hamper the growth of amaranth oil market.
Rapid development in cosmetic & personal care segment to boost the amaranth oil market growth
Furthermore, the rapidly developing cosmetic & personal care as well as the pharmaceuticals segment is anticipated to impel the growth of the amaranth oil market. Based on extraction method type, there are 3 commonly recognized kinds of amaranth oil, like cold press extraction, supercritical fluid extraction, organic solvent (hexane) extraction, and others. The cold press extraction method is most ordinary among all, owing to the low cost of production and low related technique for deriving amaranth seed oil.
Rising health consciousness among people to help Europe dominate the global amaranth oil market
Owing to strong pharmaceutical and cosmetic industrial base together with the health-conscious customer base, Europe is anticipated to govern the amaranth oil market among all the regions. furthermore, Asia Pacific is anticipated to be the fastest developing amaranth oil market as a result of the rising population with mounting disposable income in the budding economies.
This report segments the global amaranth oil market as follows:
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