Flaxseed Market Size Worth USD 1.09 Billion by 2025 | CAGR: 11.9%
Published Date : July 2019 | Report Code: AV332 | Report Format: PDF
The global flaxseed market is expected to grow at CAGR of 11.9% to reach USD 1.09 billion by 2025.
Flaxseed is a part of the linseed family and is known for being a heavily nutrient dense product. These are used in a variety of applications owing to their high level of nutrients such as protein, essential fatty acids and omega 3 derivatives. Flaxseed has three important components that makes it most beneficial for consumers; high dietary fibres, both insoluble and soluble, high content of omega-3 fatty acid (alpha-linolenic acid) and high content of seed products. Such health-promoting compounds helps consumer’s in improving digestion, reducing cholesterol, anti-depressants, anti-allergic and great for hormone balancing for menopausal woman.
One of the drivers for this industry is the fact that most people are opting for healthier lifestyle options due to the rising prevalence of lifestyle disorders. Flaxseed meals owing to its nutrition are also identified as a good option for the pet food industry. Such associated benefits will boost the product demand, supporting the industry growth. On contrary, this product contain only Alpha-Linoleic Acid (ALA) and does not contain Eicosapentaenoic (EPA) since usually a combination of these is recommended. This would in turn hamper the market growth to some level. Flaxseed is commonly available in yellow and brown varieties, which are identical in their nutrient content so purchasing decisions majorly depend on product prices.
- In terms of products, the market is categorized as whole, ground and flaxseed oil. Whole product is further sub-segmented into brown raw or brown toasted and is accounted for the highest revenue share.
- Ground flaxseeds are growing with promising growth rate. It is noted that most of nutrition experts recommend ground flaxseeds over whole types as they are easier to digest.
- Based on application, food segment accounted for the highest revenue share owing to its high nutritional benefits.
- The growth is followed by the pet industry. Consumers are increasingly prefer pet foods that are nutritionally balanced and offers health benefits for pets while being both tasty and safe.
- Geographically, North America dominates the global flaxseed market. Canada is considered to be the biggest producer of flaxseed, providing about 40% of the globe’s supply.
- On the other side, China is considered to be the largest importer of this product, which is followed by India. As per the Flax Council of Canada, people in China consume more than 15g of flax per day which would equate to around 20,800 MT of flax per day or 7.6 million metric tons of flaxseed every year.
- Key manufacturers analyzed in this research are Richardson International, AgMotion Speciality Grains, Sunnyville Farms Limited, Johnson Seeds, Archer Daniels Midland Company, Cargill Incorporated, CanMAr Grain Products Ltd., Stokke Seeds, Simosis International, Limited and TA Foods
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- Well-designed strategic framework analyzes the market movements including regional expansion, mergers & acquisitions, and new product developments
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCT
- Whole Flaxseed
- Ground Flaxseed
- Flaxseed Oil
MARKET, BY APPLICATION
- Pet Food
MARKET, BY REGION
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Rest of the World
- Middle East and Africa
- Latin America
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