Analysis of Potential Impact of COVID-19 on Quinoa Extract Market
Quinoa extract is a product which is extracted from Chenopodium quinoa seeds. Quinoa extract is a rich source of protein and has twice the amount of protein that any others extract derived from cereals such as corn, barley and rice. Quinoa extract contains riboflavin and lysine which assists the production of elastin and collagen and help manufacturers to produce anti-ageing creams and lotions owing to its property of reducing the appearance of wrinkles and fine lines. Many pharmaceutical companies are formulating skin and hair care solution with quinoa extract, owing to the high content of amino acid which helps in nourishment and repair of hair, skin and scalp. Quinoa extract is extracted through the process of fermentation, which doubles the anti-oxidant, repairing and anti-irritant properties of quinoa extract. The demand for quinoa is not only limited to the pharmaceutical industry, but also to the cosmetic industry. Many cosmetic manufactures are incorporating quinoa extract in its products such as face pack and hair oil among others, owing to its high nutritional value.
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Increasing demand of natural ingredients in cosmetic and pharmaceutical industry
With the growing concern of skin, related issues manufacturers of skin care products are now focusing on launching products that are free from mercury and contains natural ingredients such as quinoa extract. With the use of quinoa extract as an ingredient, cosmetic manufacturers are now able to put all natural clean labelling on its product, which is bolstering the market growth of quinoa extract. Moreover, manufacturers are also launching anti-wrinkle products targeting the men consumers, which is expected to increase the demand for quinoa extract over the forecast period. Additionally, the geriatric population across the globe is rapidly increasing along with high life expectancy and lifelong wellness, which is one of the prime factors responsible for the higher adoption of quinoa extract. Expanded health benefits of quinoa extract in treating several kinds of health conditions, which has resulted in its growing use in the pharmaceutical industry as well. The increasing prevalence of chronic disease associated with the ageing population in developing economies portrays the need for effective medications driving the growth of the market for quinoa extract as an important ingredient in the pharmaceutical industry.
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Global Quinoa Extract: Market Segmentation
On the basis of nature, the global quinoa extract market has been segmented as –
- Organic Quinoa Extract
- Conventional Quinoa Extract
On the basis of form, the global quinoa extract market has been segmented as –
- Liquid Quinoa Extract
- Powder Quinoa Extract
On the basis of end use, the global quinoa extract market has been segmented as –
- Pharmaceutical
- Food and Beverage
- Cosmetic and Personal Care
- Hair Care
- Skin Care
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Global Quinoa Extract Market: Key Players
Some of the major manufacturers and suppliers operating in the global quinoa extract market are: The Environmental Working Group, Alter Eco, The British Quinoa Company, COMRURAL XXI, Irupana Andean Organic Food, Northern Quinoa, Andean Valley, Andean Naturals, Ancient Harvest, Highland Farm Foods, Arrowhead Mills, and Centerchem Inc. among other quinoa extract players.
Opportunities for Market Participants for Quinoa Extract
Understanding customer needs and offering products accordingly, with specified characteristics, should be the key focus area for the new manufacturers entering in the quinoa extract market. Additionally, companies could focus on developing consumable products that are associated with several health benefits in order to leverage the arising opportunity from an increasing number of health-conscious customers in the global quinoa extract market. Moreover, healthcare expenditure is increasing significantly in majority of the developed and developing countries worldwide, which is a factor expected to result in enhancement of quality care treatment options in the healthcare sector. This is a factor projected to create lucrative investment opportunities for quinoa extract product manufacturers.
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