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The global buckwheat market is expected to experience prominent growth in the coming years owing to growing awareness regarding the health benefits of buckwheat and rising applications in various food products. Buckwheat is gluten-free and high in nutrients, attracting consumers seeking healthy alternatives. The growing popularity of clean-label and functional foods among millennials further propels the demand for buckwheat-based products in the market.
Buckwheat flour is known to blend well with other grains, making it an ideal ingredient for functional foods such as fortified pasta or baked goods. Manufacturers have been responding to such trends and innovating products in the buckwheat market. For instance, in July 2022, Kröner-Stärke, a European manufacturer of natural, high-quality products from sustainable raw materials, launched a new buckwheat flour product. The new product has high nutritional value and sensory qualities, which meet the rising demand for clean-label and sustainably sourced products.
The rise of vegan and vegetarian diets, as well as trends such as free-from grains, further fuels the demand for buckwheat as it aligns with these trends. Moreover, buckwheat offers essential amino acids for muscle repair and growth, which makes it suitable for athletes with gluten sensitivity and increases its demand in the market. For instance, in October 2020, Foodnerd, a vegan food manufacturing company, launched Sprouted Buckwheat OverNights, a line of healthy breakfast compliments. The new product is a natural, vegan, and raw breakfast meal ideal for athletes and fitness enthusiasts.
The COVID-19 pandemic posed a negative impact on the global buckwheat industry. The lockdowns and travel restrictions disrupted global supply chains, impacting the transportation and distribution of buckwheat, leading to shortages and price fluctuations. Russia, being the major consumer of buckwheat, uncovered signs of price-fixing and panic-buying spree, leading to disturbance in the buckwheat supply and demand. According to the Web of Conferences Journal, the retail prices of buckwheat groats in Russia rose by 46.2% between November 2019 and October 2020. Moreover, the pandemic-induced economic downturn affected consumer spending, potentially impacting the purchases of specialty grains such as buckwheat.
By Form | By Nature | By End Use | By Geography |
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The report covers the following key insights:
The groat segment is expected to hold a significant share of the global buckwheat market. Buckwheat groats are commonly consumed in western Asia and eastern Europe. They form key ingredients in several dishes, contributing to a consistent demand. Groats can be cooked whole, ground into flour, or roasted, offering options for various culinary uses such as porridge, pancakes, and bread.
The flour segment is expected to grow at a high CAGR over the forecast period. The demand for buckwheat flour has been growing owing to the rise of gluten-free, plant-based, and health-conscious eating habits.
The conventional segment is expected to hold a major share of the global buckwheat market owing to its lower price compared to the organic options. The demand is also rising, driven by versatility and global demand.
The organic segment is expected to grow at a high CAGR over the forecast period owing to growing awareness of the potential health benefits of organic food and rising environmental concerns among consumers. Manufacturers are thus responding to such trends with innovative launches. For instance, in December 2023, Big Bold Health, a premier provider of high-quality and affordable health and wellness products, launched a 100% organic Himalayan Tartary Buckwheat (HTB) sprout powder. The new product is an organic, gluten-free product.
The food and beverage segment is expected to hold a significant share of the global buckwheat industry. The major applications in food and beverages include snacks, bakery products, and beverages. Various factors, such as the rising demand for gluten-free products, the presence of high nutrients, and versatility and culinary appeal, drive the growing demand for buckwheat in food and beverages. Moreover, buckwheat's nutty flavor and crumbly texture add a distinctive dimension to various dishes, attracting global palates. The growing healthy snacking culture among millennials is further propelling manufacturers to develop products made with buckwheat. For instance, in July 2023, Maine Crisp, a gluten-free snack company, launched an olive and za’atar-flavored crisp. The new product is made from buckwheat flour, is dairy-free, and is made using non-GMO Project-verified ingredients.
The animal feed segment is expected to grow at a high CAGR over the forecast period. Buckwheat bran and middlings are used to feed livestock. Buckwheat offers essential minerals such as magnesium, phosphorous, lysine, carbohydrates, and fibers, which become a valuable addition to the diets of poultry, pigs, and cattle.
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Asia Pacific is expected to hold a major share of the global buckwheat market. Busy urban lifestyles and urbanization fuel the demand for convenient and healthy food products. Buckwheats' quick cooking and plant-based properties cater to this trend. China, Japan, and India are the major consumers in the region. China, being one of the largest buckwheat producers, is experiencing increasing domestic consumption alongside exports. According to Trade Map, an online database on international trade statistics, exports in China increased by 12% from 7,977 tons in 2021 to 8,935 tons in 2022. Moreover, with growing economies in the region, consumers spend on premium and niche food products such as buckwheat.
Europe is expected to grow at a high CAGR over the forecast period owing to growing health-consciousness among population, diverse culinary landscapes, and rising veganism trends.
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