Buckwheat Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030
Page: 215 | Report Code: FB240403 | Research Suite: Report (PDF) & Market Data (Excel)
The global market value of the buckwheat market was USD 664.5 million in 2022, and a CAGR of 2.5% is expected during the forecast period. The term buckwheat market describes the production, distribution, and consumption of buckwheat, a nutritious and adaptable pseudo-cereal. Increasing demand for excellent nutritional content and gluten-free status is driving growth in the market significantly.
The agriculture of buckwheat crops by farmers is the foundation of the buckwheat market. The increasing popularity of using it as a traditional grain is driving significant growth in the market. It is used in the form of groats, flours, and noodles. Increasing growth in the market due to its nutritious value is driving growth in the market.
Impact of Covid-19
COVID-19 has had a significant impact on the buckwheat
market. Due to disruptions in the supply chain, stringent lockdown, and social
distancing, the market had to face a significant slowdown at the beginning of
the pandemic. But due to changes in consumer behavior and government policies,
initially there was a surge in demand for its nutritious values, and
disruptions in the supply chain, labor shortages, and logistic challenges have
affected production and distribution. Economic downturns have influenced
consumer spending habits, potentially impacting the demand for buckwheat
products.
Growth Drivers
The increasing need for nutritious food alternatives and increased awareness of the health benefits of buckwheat, such as being gluten-free and rich in nutritious values like fiber, minerals, and antioxidants, have boosted its popularity among health-conscious consumers. As more consumers adopt plant-based diets for health, ethical, or environmental reasons, the demand for buckwheat-based products has increased, given its versatility as a nutritious alternative ingredient.
Food manufacturers are continuously innovating and introducing buckwheat-based products, such as noodles, flours, breakfast cereals, and snacks, to cater to diverse consumer preferences. Buckwheat is a staple ingredient in various cuisines worldwide. The expansion of distribution channels, including online retail platforms and specialty stores. It has made buckwheat products more accessible to consumers globally.
Buckwheat cultivation is environment-friendly, as it requires minimal
water and does thrive in poor soil conditions, making it an attractive crop for
sustainable farming packages. Increasing interest in functional foods, which
offer health benefits beyond basic nutrition, has spurred demand for buckwheat
products.
Segmentation
Type
·
Unhulled
·
Raw
·
Roasted
Application
·
Food Industry
·
Beverage Industry
·
Cosmetics Industry
·
Textile Industry
·
Others
Regional Outlook
·
Asia Pacific
·
North America
·
Latin America
·
Europe
·
Middle East and Africa
Buckwheat Market Type Segmentation
On the basis of type, the buckwheat market is segmented into unlulled, raw, and roasted buckwheat. Unlulled buckwheat, also known as whole buckwheat, is the least processed form and maintains its nutritional value. It is used to make flour, sprouts for salads and garnishes, or cooked similarly to rice. Raw Buckwheat has its hull removed, leaving behind the raw groats. It is often used in baking pancakes or as a thickening agent.
It is also cooked and used in various dishes, like salads or porridge. Roasted buckwheat is known as kasha, is toasted or roasted, and imparts a nutty flavor to the groats. Roasting also changes the texture, making it slightly firmer and less fluffy compared to raw buckwheat. Kasha is commonly used in Eastern Europe in countries like Russia, Poland, and Ukraine in dishes like kasha varnishkes or as a side dish. Each type of buckwheat offers unique flavor profiles and culinary applications. Increasing demand for nutritious food is driving growth in the market significantly.
Buckwheat Market Application
Segmentation
On the basis of the application, the buckwheat market is segmented into the food industry, beverage industry, cosmetics industry, textile industry, and others. The food industry is the leading segment and is expected to dominate during the forecast period. Flours, noodles, breakfast, cereals, and snacks are popular among people for their nutritional value. People who are gluten-sensitive are fond of these foods. Increasing demand for buckwheat extract in cosmetics products due to its antioxidant properties is driving growth in the market significantly.
Products targeting skin-aging, skin
repair, and brightening are driving significant growth in the market. Buckwheat
seeds are used in the textile industry for various purposes. It is used for
filling materials in pillows and cushions. The production of mattresses, due to
their firmness and ability to conform to the body’s shape, is driving the
demand for buckwheat significantly. Increasing popularity among people in the
form of noodles and snacks is driving growth in the market. Increasing demand
for nutritious food all over the world is driving growth in the buckwheat
market.
Regional Outlook
On the basis of the regions, the buckwheat market is segmented into 5 parts: Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. North America is the leading segment in the buckwheat market and is expected to dominate during the forecast period due to factors such as health consciousness, dietary trends favoring gluten-free options, and the popularity of buckwheat-based products such as noodles and pancakes. Buckwheat has a strong history in Eastern Europe, especially in countries like Russia, Poland, and Ukraine.
These regions have a trend of using buckwheat in various forms, such as kasha and buckwheat flour-based dishes. The Asia-Pacific region, especially countries like China, Japan, and South Korea, are the big markets in the buckwheat industry due to the increasing demand for the product in the form of noodles. Increasing demand for buckwheat in culinary applications is driving growth in the market.
Growing awareness about the
nutritious benefits of the buckwheat market is significantly driving the growth
of the market in these regions. The presence of key players in North America,
Europe, and the Asia-Pacific region is driving the growth of the market
significantly. Increasing awareness among people about the better alternatives
to food with more nutritious value is driving the demand for buckwheat in the
market. Changes in dietary trends and preferences are driving the adoption of
buckwheat in Saudi Arabia, the United Arab Emirates, and Egypt, along with
Brazil and Argentina.
Key Players
·
Homestead Organics
·
Birkett Mills
·
Krishna India
·
Galinta IR Partneriai
·
Ningxia Newfield Foods
·
UA Global
·
Bob’s Redmill
·
Pocono Organic
·
Hodgson Mill
·
Arrowhead Mills
·
Anthony’s Goods
· Others Players