Global Buckwheat Market 2020 Size, Global Trends, Comprehensive Research Study, Development Status, Opportunities, Future Plans, Competitive Landscape and Growth by Forecast 2029
“Global Buckwheat Market Insights, Applications, Product Types, Trends, Opportunities, Growth Rate Forecast: 2020 to 2029” is among the latest generated reports by MarketResearch.biz. The target market is estimated to be valued at US$ X.x Billion in 2020. The target market is projected to register a considerable CAGR and reach a value of US$ X.x Billion in 2029. The report offers in-depth analysis of the market at global, regional, and country levels, revenue and growth rate details, along with other vital insights on the global market. Also, the report focuses on drivers & restraints, ongoing trends, and opportunities for the target market, and includes value chain analysis, Porter’s Five Forces analysis, and PEST analysis, along with other additional data. The global buckwheat market is categorized on the basis of nature, product type, application, distribution channel, and region/ country.
Global Buckwheat Pillow: Product Overview
Fagopyrum esculentum, commonly known as buckwheat, is basically similar to grain however is actually a grain-like seed, and is majorly cultivated in China in the Asia Pacific, followed by Russia and Eastern Europe. It is highly consumed by individuals as well as used as an ingredient in animal feed for many decades. Apart from this, buckwheat is used as pillow and cushion fillers, and buckwheat-based pillows originate from an Asian country, Japan. These Japanese traditional pillows are commonly called as ‘Sobakawa’.
Buckwheat Pillow Market: Drivers and Restraints
Drivers: Increasing prevalence of varicose veins conditions across the globe due to several reasons including age factors, obesity, pregnancy, and standing and sitting with crossed legs for a longer period of time. For instance, according to International Journal of Research in Medical Sciences, in India, 46.7% women and 27.8% men were suffering from varicose veins, and 49.3% of women and 18.9% men showed venous symptoms. Buckwheat is also known to aid in treating cardiovascular diseases, managing diabetes, obesity, and arthritis, which is another factor fueling market growth. For instance, according to the National Center for Chronic Disease Prevention and Health Promotion, around 610,000 suffer from heart diseases leading to death in the US, every year, which means 1 out of every 4 deaths is due to heart diseases. In accordance with this fact, Coronary heart disease is among the most common type of heart disease, leading to death of more than 370,000 individuals annually.
Increasing geriatric population, rising incidence of sports-related injuries, bone density issues, and deficiency of various minerals, vitamins and essential fats due to unhealthy lifestyles and hectic work schedules are some additional factors that lead to various chronic musculoskeletal issues. Buckwheat is known to reduce symptoms and help prevent such aforementioned conditions which is an additional factor estimated to further support target market growth to a significant extent. For instance, as per a report, in 2017, people above 60 years of age comprised 13% of total population worldwide, which recorded approximately 962 Mn people, and the number is projected to reach 1.4 Billion by 2030, and further reach 2.1 Billion by 2050.
Restraints: Decreasing buckwheat production, availability of compromised-quality or adulterated buckwheat, and buckwheat being a potential allergen to certain individuals are some of the factors that could restrain market growth. In addition, high-quality buckwheat is expensive which could also hinder market growth. Lack of awareness regarding buckwheat and its benefits and availability of other superfoods could hamper market growth to certain extent.
Trends: Manufactures aiming at making their products visible to the larger consumer base and selling products on e-commerce and mobile app platforms and applying robust marketing strategies is a key trend observed in the market currently. This trend is projected to gain popularity in the years to come and propel global market growth significantly.
Opportunities: Major manufacturers are focusing on strategic plans such as mergers, acquisitions, joint ventures, partnerships, etc. with players in other regions and aiming at strengthening the distributors network across the world, this combined with higher investments on cultivating and producing higher yields using advanced technologies and automation are factors projected to present significant opportunities for players in terms of expansion of consumer base and higher revenue growth.
Buckwheat Pillow: Segment Insights
By Nature, Insights:
The conventional segment is expected to record major revenue share in the market currently, owing to availability at a large scale at cost-effective prices as compared to organically grown buckwheat. However, the organic segment revenue is projected to grow at a higher pace in the years to come, due to increasing popularity of organic products and adoption by health-conscious individuals, and rising income levels.
By Product Type, Insights:
Among the types of products currently available, the roasted buckwheat type segment is projected to record major revenue share, as it is mostly preferred for household use and the roasting process extends shelf life of the product.
By Application, Insights:
The food sector segment is estimated to account for comparatively higher market share currently, and in the years to come. The beverage and cosmetics segments' revenue contribution is projected to grow at a faster and higher rate in the next 10 years, attributable to rising demand for natural-ingredients-based cosmetics and healthy beverages.
By Distribution Channel, Insights:
The supermarkets/ hypermarket segment is estimated to record higher market share owing to the ongoing habitual trend of purchasing groceries from one-stop-shop. The online sales channel segment is projected to witness significant growth rate in the market, owing to rising preference for purchasing groceries from shopping apps by customers, and strengthening network of distributors and vendors, and rising number of players engaging in online retail.
Buckwheat Pillow: Regional Market Insights
Asia Pacific (APAC) buckwheat market is estimated to account for major share in terms of value in the target market, owing to high production and consumption of buckwheat in countries, especially in China in this region, increasing awareness regarding health benefits of consumption of buckwheat and based products in various countries in the APAC, increasing income levels, and willingness to spend on superfoods, and availability of products on e-commerce platform are key factors estimated to drive APAC buckwheat market growth to a significant extent. For instance, according to a report by the Food and Agricultural Organization of the United Nations (FAO), in 2011, China was the largest producer of buckwheat, followed by Poland, Brazil, and Russia, respectively.
The North America buckwheat market is projected to register a high growth rate, due to increasing preference for superfoods, prevalence of various lifestyle-related diseases and disorders, and spending capacity in countries in the North America market. In addition, capability of buckwheat to treat varicose veins, coupled with higher number of individuals with varicose veins issues due to various reasons such as obesity, age factors, work nature, pregnancy, etc. are additional factors propelling demand for buckwheat products. For instance, as per a report published by the American Society for Vascular Surgery, minimum 20 – 25 Mn individuals in the US suffer from varicose veins conditions. Furthermore, statistics present that almost 17% of male population and nearly 33% of female population suffer from this condition. As a matter of fact, according to a study by the Vascular Disease Foundation Newsletter, Spring 2005, many people are not able to live a proper life due to varicose vein disorders as compared to people with arterial disease.
The market in Europe is expected to record significantly higher revenue share in the global market, owing to increasing consumption of buckwheat and high cultivation and production in the Eastern part of Europe, where it is commonly called as ‘Kasha’.
The MEA and Latin America markets are projected to record moderately high share in terms of value in the target market, owing to increasing awareness regarding healthy foods, however presence of various low-income and underdeveloped countries could hamper buckwheat markets in the regions.
Global Buckwheat Market Segmentation:
Market Segmentation by Nature:
Market Segmentation by Product Type:
- Unhulled Buckwheat
- Raw Buckwheat
- Roasted Buckwheat
Market Segmentation by Form:
Market Segmentation by Application:
- Food Industry
- Beverage Industry
- Cosmetics Industry
- Textile Industry
Market Segmentation by Distribution Channel:
- Supermarket/ Hypermarket
- Convenience Stores
- Retail Shops
Market Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Estimated Year 2020 Actual Year 2021 Forecast Period 2021–2030 Revenue in US$
- Homestead Organics
- Birkett Mills
- Galinta IR Partneriai
- Wels Ltd.
- Krishna India
- Ningxia Newfield Foods Co. Ltd.
- Ladoga LLC
- UA Global Inc.
- Sichuan Huantai Industrial Co., Ltd.
- Jinan Jinnuoankang Biotech Co., Ltd.
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