by The global flax seed market has been making significant strides, reporting revenue of nearly US$9 billion in 2021. This robust growth can be attributed to the increasing awareness of the myriad health benefits associated with flax seeds. Consumers are increasingly turning to flax seeds, given their rich dietary profile, versatile applications, and cost-effectiveness compared to alternatives like chia and quinoa seeds.
Key Report Findings
- The global flax seed market size reached approximately US$9 billion in 2021.
- Flax seeds are renowned for their exceptional omega-3, protein, and fiber content, bolstering their market presence.
- Flax seeds have reclaimed their status as a plant-based superfood, driving accelerated revenue growth.
- Ground flax seeds remain the top-selling category, thanks to their various health benefits.
- Asia Pacific leads as a key exporter, while North America emerges as the leading consumer region.
Growth Drivers
Increasing Glamour Around Superfoods
The rising popularity of superfoods reflects consumers preference for natural and healthy ingredients. Flax seeds stand out as they are packed with polyphenols, antioxidants, vitamins, and minerals, offering superior nutritional value. Regular consumption of flax seeds supports healthy digestion due to their high dietary fiber, antioxidants, and protein content.
Flax seeds are also among the best plant sources of omega-3 fatty acids, which boost immunity, stamina, and metabolic functions in both humans and animals. The availability of superfoods like flax seeds in supermarkets and convenience stores has fueled their demand, particularly in emerging nations.
Escalating Preference for Plant-Based Protein
Plant-based protein is gaining momentum as consumers seek healthier alternatives. With many consumers aiming for weight loss and improved health, plant-based proteins are in high demand due to their higher fiber and key nutrient content, lower calorie and fat content compared to animal proteins.
Flax seeds are a rich source of plant-based proteins, making them a preferred choice. Concerns about allergies and diseases associated with animal products have also contributed to the shift towards plant-based proteins.
Growth Challenges
High R&D Expenses Impacting Seed Prices
The seed sector is known for its high research and development (R&D) expenditures. Companies invest significantly in developing quality seeds, including genetically modified (GM) seeds. The use of GM seeds has increased due to unpredictable weather conditions and growing customer demand for food. However, the production of GM seeds tends to increase the cost of flax seeds.
Overview of Key Segments
Ground Flax Seed Leads with Richer Oil Content
Ground flax seeds dominate global sales due to their nutritional value and various health benefits. They help reduce the risk of diabetes, stroke, cancer, and heart disease. Ground flax seeds are also rich in omega-6 and omega-3 fatty acids, which improve physiological functions and promote hair growth.
Food Category Rides Plant-Based Trend
The food segment is the largest, driven by the increasing demand for flax seeds in developed nations. Flax seeds are being used in various food products, including bread, breakfast cereals, and energy bars, enhancing their gastronomic and sensory properties. Flax seed meal, with its abundance of antioxidants, minerals, amino acids, and fatty acids, is gaining popularity among health-conscious consumers.
Growth Opportunities Across Regions
Asia Pacific Reflects the Largest Export Potential
Asia Pacific, led by nations like Kazakhstan, China, India, and Australia, serves as the largest flax seed-producing region globally. The regions dense population and increasing awareness of health benefits contribute to its high consumption of flax seeds.
China Remains Among the Leading Consumer Countries
China stands out as one of the leading consumers of flax seeds globally, particularly for animal feed additives. The rising demand for organic food in the Asia Pacific region is expected to further drive the flax seed market.
North America Holds the Strongest Foothold
North America, with significant production in Canada and the US, is poised to dominate the global flax seed market. As consumer awareness of flax seeds health advantages grows, the market is expected to expand.
Key Industry Players
Leading companies in the flax seed market include Archer Daniels Midland, Cargill Inc., TA Foods Ltd., Richardson International Ltd., S Johnson Seeds, AgMotion Speciality Grains, CanMAr Grain Products Ltd., Simosis International, Stokke Seeds, and Sunnyville Farms Ltd.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/flax-seed-market
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This press release first seen on Brilad
COMTEX_441949807/2840/2023-10-15T23:34:33
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.