Buckwheat to be largely used in snacks in the food and beverage industry
According to this research report, the global buckwheat market is anticipated to grow at a moderate rate to reach a significant value by the end of the year of assessment. The buckwheat market has been experiencing steady growth during the 2012-2016 timeline. It is projected to grow at a value CAGR of 4.2% throughout the period of assessment, to reach a market value of around US$ 1.8 Bn by end of 2027 from a market valuation of about US$ 1.1 Bn in 2017. The research study portrays a complete picture of the global market for buckwheat and covers forecast analysis for a period of 10 years, starting from 2017 till 2027. Aspects such as increasing consumption of buckwheat in food and beverage sector, increasing innovations in food resulting in rising consumption of buckwheat, increasing consumer focus towards organic food and increasing need for gluten free products are expected to fuel the growth of the global market for buckwheat. Moreover, the “on-the-go consumption” pattern is increasing the traction of RTC (ready to cook) /RTE (ready to eat) healthy meals in the food industry.
Multigrain wheat products are also witnessing rising demand due to the presence of multiple nutrients in a single diet. For instance, in the United States, buckwheat is gaining popularity in healthy diets and side dishes. Buckwheat, a highly nutritious product, requires very less cooking time, and no chemicals for processing. Thus, it becomes very compelling among health conscious consumers.
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- The Hain Celestial Group Inc.
- Resurs LLC
- Montana Milling Inc.
- Bio-Oz. Buckwheat Enterprises Pty Ltd
- Doves Farm Foods Ltd.
- Ceres Organics Limited
- Windmill Organics Ltd.
- Galinta Ir Partneriai Uab
- Archer-Daniels Midland Co.
- Homestead Organics Ltd
- Skvyrskyi grain processing factory Ltd.
- Bob’s Red Mill Natural Foods Inc.
- Hodgson Mill Inc.
- Wilmar International Ltd.
- The Birkett Mills
More than a billion dollar market for buckwheat to be observed only from the food and beverage industry
There are several end use areas of buckwheat, namely, food and beverage sector, animal feed industry and cosmetics and personal care sector. The food and beverage industry is expected to showcase high consumption of buckwheat as compared to other end use segments. The food and beverage segment is estimated to reach an estimate high than US$ 1 Bn by the end of the year of assessment. In addition, the food and beverage segment is expected to grow at a comparatively high value CAGR throughout the period of assessment.
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Snacks to largely contribute to the growth of the parent segment
The application of buckwheat in the food and beverage sector is mainly into snacks, beverages and bakery products. Of these, the consumption or adoption of buckwheat in snacks is growing at a significant pace and expected to largely contribute to the growth of the parent industry. The snacks sub segment is poised to grow at a high value CAGR throughout the period of assessment and is estimated to touch a market valuation of more than US$ 485 Mn by the end of the year of assessment, thus pushing the growth of the parent segment.
The use of buckwheat is also observed to reflect a potential growth trajectory in several bakery products. The bakery products sub segment is the second largest with respect to market value and attractiveness. Snacks and bakery products sub segments are expected to reflect high lucrativeness in global buckwheat market in the years to follow.
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Demand for buckwheat in animal feed to substantially grow by the end of the forecast period
Animal feed, one of the end use segments, is anticipated to grow at a substantial rate and reflect high market value by 2027 end. The animal feed segment is projected to expand at a CAGR of 3.7% throughout the forecast period to reach an estimate a little under US$ 400 Mn by the end of the year of assessment (2027).
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