It is alleged to cut cholesterol, tastes pleasant, and is commonly used as a red pigment in beauty products. Amaranth seed oil, derived from the amaranth plant (right) is also an increasingly valued commodity according to a recent report. The market for the oil could reach US$700m by 2019 with a compound annual growth rate of 11.9% over the next five years, Markets and Markets (M&M) notes.
Amaranth oil contains squalene and omega-3, -6 and -9 fatty acids, held to confer antioxidant, anti-inflammatory and anti-ageing properties. The oil is also easily absorbed by the skin. Currently, Europe is the main Amaranth seed oil market due to its wide use across the continent, the report states. “Although the European economy has still not recovered from the Euro crisis, it is expected to continue to lead this market,” say M&M analysts, “followed by North America and Asia-Pacific.” In particular, cosmetics, personal care and fragrance companies are anticipated to have an increased need for the ingredient, particularly high grade oil, to produce “high end cosmetic products made from natural ingredients.”
Cosmetics companies comprise more than 60% of the market and are investing heavily in R&D to meet this increased demand. Major suppliers of the ingredient include Amaranth Bio Company (US), AMR Amaranth a.s (Czech Republic), RusOliva (Russia), Flavex Naturextrakte GmbH (Germany) and Proderna Biotech Pvt Ltd (India).