Amaranth seed oil – a rich source of vitamins and minerals is derived from seeds of two plants namely – A. cruentus and A. hypochondriacus. Major factor driving growth of the global amaranth seed oil market is growing demand for natural personal care products among consumers. However, high production cost of amaranth oil may affect growth of the target market.
The global amaranth seed oil market has been segmented on the basis of extraction process, application, and region. On the basis of extraction process, the market is segmented into organic solvent (hexane) extraction process, supercritical fluid co2 extraction process, cold pressing process, and others. Cold pressing method segment holds major share in terms of revenue and is expected to maintain its dominance in the near future. This method preserves nutritional content in amaranth seeds and requires less technological equipment.
On the basis of application, the market is segmented into food supplements, personal care and cosmetics, fragrances, pharmaceuticals, and others. Personal care and cosmetics segment dominates the global market and expected to maintain its position over the forecast period, owing to increasing preference for natural and herbal cosmetic ingredients.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Market in Europe is expected to dominate the global market in terms of revenue over the forecast period, owing to growing demand for natural and herbal personal care products among consumers in this region. Market in North America is expected to account for second-highest share in terms of revenue in the near future, owing to increasing demand for amaranth seed oil as a dietary supplement. Over the forecast period, market in Asia Pacific is anticipated to witness lucrative growth in terms of revenue.
Key players operating in the global amaranth seed oil market include Amr Amaranth A.S, Amaranth Bio Company, Amaranth Nord, Proderna Biotech Pvt. Ltd., Flavex Naturextracte Gmbh, Nu-World Corporation (Nu-World Foods), Nans Products PVT. LTD., Irel, Spol. S.R.O, Flaveko Trade Spol. S.R.O, and Dk Mass S.r.o.