Global Buckwheat Market Report and Forecast 2024-2032

Global Buckwheat Market Outlook

The global buckwheat market size reached a volume of about 4.84 million tons in 2023. The market is projected to grow at a CAGR of 4% between 2024 and 2032.

Key Takeaways

• The market is experiencing a surge in demand for gluten-free foods, benefiting buckwheat as a naturally gluten-free grain.

• Buckwheat is recognised for its environmental benefits, including its ability to thrive in poor soil conditions with minimal inputs.

• Companies are innovating, introducing a range of buckwheat-based products, including snacks, beverages, and health supplements.

Buckwheat, a whole grain possessing similarity to quinoa, is highly nutritious and is commonly used as an ingredient in various food products, including breakfast foods and flour. Often considered a superfood, buckwheat contains a rutin called flavonoid that strengthens the blood vessels. Rutin has also been described as vitamin P, and its ability to improve and retain the elasticity of the blood vessel is well established. Buckwheat is a varied component in supplements used to avoid diseases related to ageing vessels, including hypertension, atherosclerosis, and stroke of myocardial infarction. Many benefits of the product consumption include improved digestion, building immunity, and bone safety, among others.

The diversified use of buckwheat extract in herbal formulations offering benefits like strengthening the blood vessels and increasing blood flow as well as added health benefits in bone health management are some of the major factors expected to accelerate the buckwheat market growth in the forecast period. Buckwheat extract can also be combined with the majority of food items that can be used in the food and beverage sector as an additive. Moreover, buckwheat is also versatile in culinary applications, used in a variety of dishes ranging from pancakes and noodles to porridge and salads, and its increasing use in both traditional and innovative recipes contributes to the demand for buckwheat.

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Key Trends and Developments

Growing preference for plant-based and vegan diets; organic farming practices; innovation in food products; and research and development are the major trends impacting the buckwheat market expansion

Buckwheat Market Trends

The rise of plant-based and vegan diets is a significant trend impacting various segments of the food sector. Buckwheat’s protein content is higher than that of many grains, and it includes all eight essential amino acids, making it an excellent source of complete protein for vegans and vegetarians who may struggle to obtain sufficient protein from plant-based sources alone. In response to the growing demand for plant-based and vegan products, food manufacturers are expanding their product lines to include buckwheat-based options. Buckwheat is being incorporated into a wide range of products, from traditional items like soba noodles and pancakes to innovative products such as buckwheat-based snacks, breakfast cereals, and meat substitutes.

In December 2023, Big Bold Health announced the launch of the first 100% organic Himalayan Tartary Buckwheat (HTB) Sprout Powder, a plant-based superfood. Himalayan Tartary Buckwheat (HTB) is recognised for its superior nutritional profile compared to common buckwheat varieties. It's rich in antioxidants, minerals, and amino acids, making it an exceptional choice for those seeking to enhance their diet with nutrient-dense foods. By introducing a sprout powder form, Big Bold Health is leveraging the increased bioavailability of nutrients that sprouting offers, ensuring consumers receive maximum health benefits.

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Market Segmentation

“Buckwheat Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

By form, flour accounts for a major buckwheat market share due to its heightened use in the preparation of pancakes and bread, among other food items

Buckwheat flour is the leading segment in terms of market share. Buckwheat flour is used to prepare a wide range of products, from baked goods like bread, pancakes, and noodles to various gluten-free recipes, and this versatility makes it highly sought after by both consumers and manufacturers. The growing awareness of gluten intolerance and celiac disease, along with the rise in health-conscious consumers seeking nutritious and whole grain options, has significantly boosted the demand for buckwheat flour as its high nutritional value, including protein, dietary fibres, and minerals, aligns well with these dietary trends.

Buckwheat groats are also anticipated to experience a robust growth in the coming years. Groats, which are the hulled kernels of buckwheat, are consumed as a whole grain and have been gaining popularity due to the increasing consumer preference for whole, unprocessed foods. They are often used in porridges, salads, and as a rice alternative, offering a nutritious and flavourful component to meals.

The food and beverages sector maintains its dominance in the market owing to the increasing usage of buckwheat in a broad range of food products

The buckwheat market is driven by its growing usage in the food and beverages sector. Buckwheat is used in a wide range of food products, including noodles (especially in Japanese and Korean cuisines), pancakes, bread, and other baked goods. Its nutritional benefits, such as high protein content and gluten-free nature, make it popular among health-conscious and gluten-intolerant populations. In some cultures, buckwheat is a staple food, contributing significantly to its consumption. For example, in Russia, buckwheat porridge is a traditional dish, while in Japan, soba noodles are widely consumed.

Buckwheat is also used in animal feed as a source of protein and other nutrients as its amino acid profile and digestibility can be beneficial for livestock health and productivity, thereby contributing to the buckwheat market expansion. Moreover, utilising buckwheat in animal feed can be part of sustainable agriculture practices. As a crop, buckwheat can improve soil health and biodiversity, making it an eco-friendly option for animal feed production.

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Competitive Landscape

The market players are increasing their collaboration efforts and launching new products to gain a competitive edge in the market

Other major players in the buckwheat market include Skvyrskyi Grain Processing Factory Ltd, Minn-Dak Growers Ltd., and The Birkett Mills, among others. The market players engage in various activities to strengthen their position, meet the growing demand for buckwheat products, and capitalise upon the growing trends of health-conscious consumption and sustainable agriculture.

Buckwheat Market Analysis by Region

The market is significantly dominated by Europe and North America. Poland accounts for a significant share of exports, followed by Bolivia and Peru. The demand for the product is growing in the European and North American regions due to the changing lifestyles of consumers, which has led to the rising occurrence of lifestyle-related diseases such as diabetes, obesity, high cholesterol, and high blood pressure, among others. The rising demand for superfoods owing to the rising health consciousness across the regions is also propelling the market growth.

The Asia Pacific buckwheat market is also expected to witness robust growth, with China and Japan showcasing a thriving demand for the product. Buckwheat is a healthy food product, and the rising awareness about its health benefits is boosting the market growth. Factors such as changing food habits of consumers, preference for superfoods, rising disposable incomes as well as the availability of these superfoods on e-commerce platforms, are boosting the market expansion in the region.

Key Highlights of the Report