The European Quinoa Seeds Market is projected to register a CAGR of 5.2% during the forecast period (2021-2026). COVID-19 has affected the Europe quinoa seeds market in three main ways (i.e) by directly affecting production and demand in the domestic as well as international market, by creating supply chain and market disruption, and by its financial impact on firms and financial markets operating in the segment. Changing consumption patterns and increasing health awareness are resulting in higher demand for quinoa seeds. Due to its nutritional value, gluten-free nature, and its potential of being a functional food ingredient, quinoa has captured the attention of consumers around the world. It is predicted that the fall in quinoa prices in the near future may drive market growth by making seeds more affordable to the customers and the processing industry. The popularity of the quinoa crop as an alternative to cereals is increasing in the European region due to its high nutritional value. Quinoa also contains most of the essential amino acids and is free of gluten. Spain and the United Kingdom are two of the largest quinoa-consuming regions in Europe occupying around 22.0% of the European market share, the United Kingdom is one of the major countries in the European market. The substantial increase in production of quinoa, especially in Peru, and the in-house production in Europe have decreased the price of the seeds in the region; however, the lower prices have not benefitted the consumers. The pesticide residues beyond the FDA limit in quinoa seeds are raising concerns in both importing and exporting nations and are negatively affecting the growth of the market studied.
Key Market Trends
Changing Consumption Patterns and Increasing Health Awareness
The nutritional characteristics of quinoa seeds are especially attractive, due to its high protein content, gluten-free property, and high fiber content. The demand for organic quinoa is particularly on the rise in Europe, as well as North America, as awareness about both health and the environment is increasing among the consumers. Quinoa is particularly considered as a health food, and increasing awareness regarding its nutritional properties and the increasing health awareness have led to a higher demand for quinoa in Europe and North America. There are many reasons to explain the increasing demand, including the high nutritional value of quinoa and its derivatives, increasing consumer awareness about healthy diets, its gluten-free nature, organic production, and various applications of quinoa in food and beverage industry. Additionally, the availability of the product in the domestic and international markets is favorable due to low tariffs, few phytosanitary barriers, and preferential mechanisms adopted by the major as well as the minor importers.
France Dominate the Market
The growing international demand for quinoa and quinoa-derived products is reflected by the rapid increase in the cultivated area for this crop and the production quantity. Among the European countries, France is the largest market, followed by Germany, Spain, and the United Kingdom. The increase in quinoa production in the region is expected to result in the reduction of quinoa import prices. It is expected that the lowering of quinoa prices may boost the market growth in the region, by making quinoa more affordable to consumers and the processing industry. During the forecast period, the production of Quinoa seed in Europe has seen a growth of 95.93% from 2313.8 metric ton in 2016 to 24510.9 metric ton in 2020. This increase in production determines whether there is a constant increase in the demand for Quinoa seeds in the domestic, as well as foreign countries.
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