The value of consumption of quinoa seeds in South America is projected to grow at a CAGR of 12.5% during the forecast period (2020-2025).
Key Highlights
- The increase in regional exports of Quinoa due to a change in consumption patterns as consumers are shifting toward healthier and gluten-free diets. However, the downward fall in Quinoa prices globally due to surplus production in the region are some of the factors restraining the market growth for quinoa seeds.
- Peru and Bolivia are expected to dominate the quinoa seed market both in terms of production and export during the forecast period. North America has been the largest importer of Quinoa seeds followed by Europe. France remains to be the leading importer of quinoa seeds in Europe, followed by the Netherlands and Germany.
Key Market Trends
High Regional Exports to European Countries
South America is one of the largest exporters of Quinoa in the world. About 80-90% of Quinoa imported into the European Union comes from Peru and Bolivia. The main consuming markets for South American Quinoa include Italy, France, Germany, and the Netherlands with each consuming on an average between 2000-6000 tons of quinoa per year. Quinoa has received attention as a healthy Superfood over the last few years. The rise in imports from the region is primarily attributed to consumer perception of its health, nutritious properties. In order to meet this demand from international markets, countries such as Peru and Bolivia has ramped up its production by using high-quality seeds. With the rise in consumption for quinoa across the world, the demand for quinoa seeds is expected to increase over the next few years.
Bolivia is Dominating the Market
Bolivia is one of the major producers of quinoa in South America. In 2018, the total production of quinoa in the country is reported to be 65.5 thousand tons as compared to its production of 70.7 thousand tons in 2017. Bolivia has three distinct regions where quinoa is produced with different motives, in Northern Altiplano, quinoa is produced for local consumption and for ensuring domestic food security and the production is intended for the market in Desaguadero; in central Altiplano, quinoa production is higher than in the northern region and it is also intended for domestic consumption; in southern Altiplano, most of the production is intended for exports. In recent years, there is an increase in the production of organic quinoa, as the demand for organic produce is high in the European countries.
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