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The flax seeds market size is estimated to grow at a CAGR of 11.75% between 2022 and 2027, and the market size is forecast to increase by USD 955.11 million. The growth of the market depends on several factors, including the growing awareness about the health benefits of flaxseeds, the increasing number of vegans and vegetarians, and the growing health consciousness and increasing obese population.
This flax seeds market report extensively covers market segmentation by application (food and beverages, animal food, and others), product (ground flax seeds and whole flax seeds), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing number of vegans and vegetarians is notably driving the market growth, although factors such as fluctuating prices of flaxseeds and product recalls may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing number of vegans and vegetarians is notably driving the global flax seeds market growth. Vegan consumers stay away from animal products, be it food, clothing, or accessories. They chose healthy alternatives to meat, dairy, and other conventional protein sources and found a vegan diet to be healthier than a meat-based diet. Instead of animal products, vegans prefer plant-based foods. With the steady rise of veganism and vegetarianism, flaxseeds could be a viable alternative to meat and dairy. Plus, flaxseeds are healthier than any meat source and contain no cholesterol. They have been widely accepted in fitness-conscious Western societies and are slowly gaining traction in developing economies. Flaxseeds are gluten-free, making them especially popular in vegan and vegetarian diets.
The growing awareness of the benefits of antibiotic-free meat and poultry products has opened up a whole new market for organic meat and poultry products, such as organic pork, Turkey organic, and organic pepper sausage. There is also a growing demand for plant-based vegan foods, now available in a variety of varieties, such as takeaway and individually packaged, as well as in a variety of flavors. These products offer excellent opportunities for food manufacturers to diversify their portfolios and cater to different customer segments. Hence, the increasing number of vegans and vegetarians is the key driver, which is expected to drive the growth of the global flaxseed market during the forecast period.
The growing popularity of superfoods is the primary trend shaping the global flax seeds market growth. The popularity of superfoods is driving the demand for a variety of food products, including flaxseed. Superfoods are nutrient-rich foods that are believed to offer health benefits beyond their basic nutritional value. They are often rich in antioxidants, vitamins, minerals, and other beneficial compounds that can help prevent disease and promote overall health. The demand for superfoods has increased rapidly in recent years due to the growing awareness of the importance of a healthy diet and lifestyle. Consumers are looking for convenient and easy ways to incorporate healthy foods into their diets, and superfoods like flaxseed have become a popular choice.
In addition to the health benefits, superfoods like flaxseed are versatile and easy to use in many recipes. They can be added to smoothies, baked goods, salads, and other foods to increase their nutritional value as well as add flavor and texture. As a result, the growing popularity of superfoods is driving the market for healthy food products like flaxseed. As consumers continue to prioritize health and fitness, the demand for nutrient-rich foods is expected to increase, thereby fueling the global flaxseed market growth over the forecast period.
The fluctuating prices of flaxseeds and product recalls are major challenges impeding the growth of the global flax seeds market. Due to the widening gap between supply and demand in recent years, the cost of raw materials has risen significantly. Rising raw material prices not only increased production costs but also reduced profit margins for suppliers. This factor, combined with the need to remain competitive in the market, is pushing manufacturers to try cheaper alternatives.
Most manufacturers purchase or source raw materials from third parties. Improper handling of raw materials or consumables can affect the safety and quality of the final product. Food regulatory and compliance agencies in several countries have the power to shut down companies and withdraw their products from the market if they pose a health risk. A product recall can seriously affects not only a company's brand image but also its operations and distribution. Such factors may hinder the flaxseed market growth during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Flax Seeds Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AgMotion Inc.: The company offers a wide range of products, including flaxseeds, milled flax, wheat, corn, soybeans, lentils, and other pulses, grains, and oilseeds. The company offers flaxseeds such as whole, milled, and yellow seeds
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the food and beverages segment will be significant during the forecast period. The food and beverages segment is anticipated to experience a double-digit rate during the forecast period owing to the high demand for healthy foods across the globe. In addition to being a raw seed snack, flaxseed is widely used in the food and beverage industry as an additive in juices, pasta, smoothies, yogurt, granola, salads, and sports nutrition products.
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The food and beverages segment was valued at USD 401.16 million in 2017 and continued to grow until 2021. Whole flaxseed is added to baked goods to improve the texture quality. Flaxseed powder consumption is recommended to reap the potential health benefits of omega-3 fatty acids and lignans. For bakery products, adding flaxseed can increase fermentation and leavening times. Flaxseed is also used in bagels, bran muffins, cracked wheat hoagies, oatmeal bread, and chocolate chip cookies. Hence, the food and beverage segment is expected to experience significant growth during the forecast period.
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APAC is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Flaxseed is gaining popularity in the region as companies try to improve the health of the local population. Flaxseed is becoming increasingly important in the region due to its many health benefits. Higher consumer propensity towards superfoods has been observed in countries such as China, Japan, and India. China is the world's leading importer of flaxseed. The country imports about 50% of flaxseed. In China, flaxseed is commonly used for industrial purposes.
Recently, increased consumer awareness of healthy eating and the omega-3-related benefits of flaxseed have increased consumption in APAC. In addition, per capita disposable income in APAC countries is expected to increase during the forecast period. The rate of urbanization in APAC countries will also increase during the forecast period. These two factors will further boost the growth of the global flax seeds market in APAC during the forecast period.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. In 2020, the COVID-19 pandemic negatively impacted the regional flaxseed market. Governments in countries such as India, China, Australia, and Japan imposed nationwide lockdowns to curb the spread of the disease. Food retailers and producers in the region were affected by these safety measures and strict regulations. Subsequent declines in seed demand hampered flaxseed market growth in 2020. However, with the launch of a massive vaccination campaign in the region, lockdown restrictions were lifted in 2021, and production resumed.
The flax seeds market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global flax seeds market as a part of the global agricultural products market under the global food products market of the global food, beverage, and tobacco market. The global agricultural products market covers crop growers, owners of plantations, and companies that produce and process foods but do not package and market them. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Flax Seeds Market Scope |
|
Report Coverage |
Details |
Page number |
157 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.75% |
Market growth 2023-2027 |
USD 955.11 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
11.35 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 40% |
Key countries |
US, Canada, China, India, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
AgMotion Inc., Archer Daniels Midland Co., Bioriginal Food and Science Corp., Bradley Caldwell Inc., BTL Herbs and Spices Pvt. Ltd., CanMar Foods Ltd., Eastmade Spices and Herbs Pvt. Ltd., Gingerly Naturals P. Ltd., Global Resource Direct LLC, Grain Millers Inc., Healthy Food Ingredients LLC, Howe Seeds, KRBL Ltd., Linwoods Health Foods, Merck KGaA, Mother Herbs P Ltd., Mr Fothergills Seeds Ltd., Pragati Agribiz Pvt. Ltd., Satva Industries, and TA Foods Ltd. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
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