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Global Buckwheat Market to Grow at a CAGR of 4% During 2021-2026, Aided by the Rising Health Consciousness Among Consumers

According to a new report by EMR titled, ‘Global Buckwheat Market Report and Forecast 2021-2026’, the global market for buckwheat reached a volume of about USD 4.3 billion in 2020. The industry is further expected to grow at a CAGR of 4% in the forecast period of 2021-2026.

The global buckwheat industry is widely being driven by its health benefits. Buckwheat is a rich source of manganese, copper, magnesium, fibre, phosphorus etc. Buckwheat also contains flavonoids like rutin and quercetin, which play a significant role in promoting health. It also contains a high content of vitamin A, vitamin D and vitamin B12, vitamin B6, niacin, thiamine, and other nutrients. Buckwheat is rich in protein, having all eight essential amino acids like lysine. Thus, the rising demand for buckwheat among the increasingly health-conscious consumers is likely to propel the growth of the market.

Archer Daniels Midland Co (NYSE: ADM) is one of the leading key players in the industry. It offers a wide range of products, including buckwheat. The company is a popular name in the food and beverage sector. It provides a wide range of juices, flours, and others. The rising production by the company of buckwheat is likely to boost the market growth in the coming years. The company also utilises buckwheat extensively in its growing animal nutrition segment. In 2020, ADM sought to expand its pet-food business by its acquisition of Neovia and opening a new animal nutrition lab in Decatur, Illinois. Among the R&D activities being undertaken in the research centre is the development of dog treats containing ancient grains, including quinoa, buckwheat, and chia. Such developments by the major key players are expected to expand the scope of buckwheat’s applications and propel the market growth in the coming years.

Market Analysis by Source, Form, Application, and Region:

  • The sources of buckwheat can be divided into organic and non organic.
  • The forms of the product can be categorised into groats, flour, and flakes, among others.
  • It finds wide applications in food and beverages, animal feed, and cosmetic and personal care, among others.
  • The regional markets for buckwheat include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The residing awareness of the health benefits of buckwheat are driving the growth of the market.
  • Buckwheat extract can be easily combined with a wide variety of food items that can be used in the food and beverage industry for further use, which providing further opportunities for market growth.
  • The rising competition among the key players is also propelling the market growth.
  • The growth of the global buckwheat industry is being driven by the use of extract in food as an additive.
  • The rising trend of superfoods is also expected to aid the market growth in the coming years.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for buckwheat for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the sources, forms, applications, and major regions of buckwheat.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global buckwheat market are Archer Daniels Midland Company (ADM), Wilmar International Limited, Skvyrskyi Grain Processing Factory Ltd, Bob’s Red Mill Natural Foods, Minn-Dak Growers Ltd., Bulk Barn Foods Limited, and The Birkett Mills, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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