Buckwheat Seeds Market Size, Share, Growth, and Industry Growth, By Type (Common Buckwheat Seed and Tartary Buckwheat Seed) By Application, (Buckwheat Planting and Buckwheat Breeding), Regional Forecast (2022-2027)

REPORT OVERVIEW

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The global buckwheat seeds market size was USD 24 million in 2020. The global COVID-19 pandemic has been unprecedented and staggering, with buckwheat seeds experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 31 million by 2027, exhibiting a CAGR of 4.0% during the forecast period. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Buckwheat seed is planted as a cover crop and its grain-like seed is used to control soil fertility and erosion on a planted farm. It is also called pseudo cereals and contains high complex carbs. The product contains arginine, lysine, and two other important amino acids that are lacking in most cereal crops. These seeds are often employed by the Food & beverage industry to create gluten-free products for consumers.

The increasing demand for pseudo cereals, which are also helpful in managing weight loss as it suppresses the diet of the consumer, is likely to drive the market in coming years. These seeds contain a good quantity of magnesium that helps in balancing the blood pressure. Along with the food, the seeds are also used in the beverage industry to prepare various drinks such as whiskey, beer, and other alcoholic drinks. 

COVID-19 Impact: Halt in Production and Supply Chain to Delay Growth

The pandemic had a significant impact on the sales of the product. As COVID-19 imposed lockdowns, production and supply chains faced disruption all across the world due to lockdown. The pandemic outbreak led many people to develop a critical perception of outdoor food which increased food safety and health concerns among the population across the world. The buckwheat seeds market faced many challenges such as transportation of the product, low manufacturing due to the stringent regulations by the government, and a sudden fall in demand for the product due to lockdown all across the world.

LATEST TRENDS

"Diversified Applications of Buckwheat Seed and Its Extract to Bolster Market Progress"

Buckwheat extracts have diversified uses in herbal formulations providing several benefits. It is useful in managing bone health, strengthening blood vessels, and increasing blood flow, and is anticipated to thrive the market growth. Consumers are noticeably shifting towards healthier and organic foods that eventually thrive, satisfying the demand for the product. Consumers are also concerned about the safety of hair and skin and thus, shifting towards naturally-derived herbal products.

Segmentation

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• By Type Analysis

By type, the market is segmented into common buckwheat seed and Tartary buckwheat seed.

The type segments of the buckwheat seeds market are anticipated to lead market share. The consistently increasing demand in the food & beverages is expected to contribute to the segment's steady growth. Additionally, to diminish the risk of contamination is surging growth for the market.

• By Application Analysis

Based on application, the market is classified into buckwheat planting and buckwheat breeding.

DRIVING FACTORS

"Rising Adoption in Cosmetic Industry to Drive Market Growth"

Buckwheat seed works as a vital ingredient in various sectors such as the feed industry, food and beverages industry, personal care, and cosmetic industry. The demand for these seeds is expected to rise due to the higher concern of consumers for their skin and hair loss problems. Skin and hair-related problems are rising due to various effects such as unhealthy and improper diet, air pollution, growing age, and other environmental factors such as rising temperature and water pollution.   

"Increasing Adoption of a Balanced Diet to Foster Market Growth"

As per a research report by World Health Organization (WHO), around 17.9 million deaths were caused due to cardiovascular disease in the year 2019, which is 32% of the global deaths. This signifies a high risk of cardiovascular disease in geriatric population due to consumers' inclination to low-fat and healthy food, such as buckwheat, which is rich in complex carbohydrates and contains low fat. These seeds are also used to manage weight loss due to the consumer’s awareness and consciousness of carbohydrates, protein, and low-fat consumption. These factors are surging the buckwheat seeds market growth. Additionally, buckwheat seeds are pseudocereals that contain compounds necessary to fight cancer. 

RESTRAINING FACTORS

"No Scientific Information Supporting the Benefits of Product to Impede Market Growth "

Consumers may develop an allergy to buckwheat which can lead to serious allergic reactions such as runny nose, swelling, itching, asthma, fatal drop in blood pressure, and difficulty in breathing. Consumers allergic to rice may also be allergic to this product. Consumption of this product may also lower the sugar level in the blood as it decreases the absorption of sugar from food. There is no scientific information to support the product's benefits, which may be the major factor limiting the market's growth. 

REGIONAL INSIGHTS

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"Lifestyle Changes to Augment Growth in North America"

North America is anticipated to aid maximum growth in the regional market. The demand for the product in this region is expected to rise due to the changing lifestyle of the population. These factors lead to the growing occurrence of diseases related to the unhealthy lifestyle such as high cholesterol, high blood pressure, diabetes, obesity, and others. The consistently rising demand for superfoods backed by the rising health consciousness among the population in various regions is estimated to drive market growth in the region.

Asia Pacific is anticipated to significantly contribute to the buckwheat seeds market share because of the rising demand for the product in emerging countries such as Japan and China. The thriving awareness about the health benefits of buckwheat seed is expected to boost the product demand in the region. 

KEY INDUSTRY PLAYERS

"Companies to Emphasize On Enhancing Their Product Portfolio by Adopting Long Term Growth Strategies"

The companies are focused on generating higher revenues and increasing production to gain a competitive advantage. The companies strive to develop strategies that offer long-term growth to enhance the product portfolio.  To amplify their growth prospects, the major market players adopt ingenious strategies, including acquisitions, mergers, collaborations, and others. They focus on incorporating advanced technologies to enhance their offerings. 

List of Market Players Profiled

• Johnny’s Selected Seeds (U.S.)
• UFENAL ltd. (Russia)
• West Coast Seeds (Canada)
• Johnston Seed Company (U.S.)
• Ziegler Organic (Germany)
• Minn-Dak Growers (U.S.)
• KWS (Germany)
• NC Bhojraj & Company (India)
• Great Basin Seed (U.S.)
• Territorial Seed Company (U.S.)
• Green Cover Seed (U.S.)
• Sustainable Seed Company (U.S.)

INDUSTRY DEVELOPMENT

• March 2022- Fodbods, an Australian brand, introduced a new snack product that is allergy-free and gut-friendly. This snack product is named Fodbods Nibbles.

REPORT COVERAGE

The report presents an overall assessment of the market. It contains facts, company insights, historical data, and growth strategies adopted by the key players in the market. It also depicts the regional insights and data validated by the industry. The report covers the factors driving buckwheat seeds market growth. Detailed information on the factors driving or limiting the market growth is covered in this report. Key competitors and their recent developments in the market are included in the report to offer market insights to the stakeholders.