NEW
YORK, Aug. 14, 2024 /PRNewswire/ -- The
global flax seeds market size is estimated to grow by
USD 1.50 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of over 15.42% during the forecast period. Growing awareness about
health benefits of flaxseeds is driving market growth, with a trend
towards wide reach through organized retailing. However,
fluctuating prices of flaxseeds and product recall poses a
challenge. Key market players include 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..
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Flax Seeds Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
15.42%
|
Market growth
2024-2028
|
USD 1500.4
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
12.09
|
Regional
analysis
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 36%
|
Key
countries
|
US, China, Canada,
Germany, and India
|
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 Driver
Organized retailers, including supermarkets and hypermarkets,
have become the primary distribution channels for superfoods like
flax seeds. Supermarkets cater to a significant portion of
consumers' food needs, offering nutritious and affordable options.
With population growth and increasing urbanization, particularly in
countries like India, the demand
for supermarkets is rising. Major retailers, such as Reliance
Fresh, Aditya Birla Retail, Food World, Spencer's, Walmart, and JD,
play a crucial role in supplying fresh foods, including flax seeds.
The COVID-19 pandemic has shifted consumer shopping behavior,
leading to a surge in online orders from supermarkets. Retailers
are investing in omnichannel offerings to cater to evolving
consumer preferences and retain customers. For instance, JD opened
its first omnichannel supermarket in China in April
2021. This trend of wide market reach through organized
retailing is expected to fuel the growth of the global flax seeds
market.
Flax seeds are trending in the nutrition-rich product market due
to their rich nutrient profile. They contain essential omega-3
fatty acids, fiber, protein, phosphorus, potassium, and
antioxidants. The seeds are used in various forms, including oil,
whole flax seed, powder, and capsules. The bakery industry and
bakery product manufacturers use flax seeds to enhance texture and
nutritional value in pancakes, bread, and breakfast cereals. Flax
seeds are also popular in pet food and vegan population's diets.
However, excessive consumption may lead to adverse health effects
like bowel obstructions and sodium imbalance. It's crucial to note
that whole flax seeds have a toxicity risk if not properly ground
before consumption. Flax seeds are also used in animal feed and as
an ingredient in snacks. The seeds' nutrients, including amino
acids and minerals, contribute to nerve functions, blood pressure
regulation, and stroke prevention. Flax seeds' oil and capsules are
popular for their blood thinning properties and potential
cancer-fighting benefits.
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Market Challenges
- The flax seeds market has experienced significant raw material
cost increases due to a supply-demand imbalance. This price hike
not only raises manufacturing costs but also decreases profit
margins for vendors. To remain competitive, manufacturers explore
cheaper alternatives. Suppliers hold the power to set competitive
and varying prices. For instance, US flax seed prices jumped from
around USD8.0/bushel (bsh) in
September 2020 to nearly USD20/bsh in May
2021. Proper handling of raw materials is crucial to ensure
product safety and quality, as regulatory authorities can shut down
businesses and recall products for consumer safety concerns.
Manufacturing and packaging defects further hinder market
growth.
- The Flaxseeds market is witnessing significant growth due to
increasing consumer inclination towards functional foods and their
health benefits. Flaxseeds, also known as Linseed, are rich in
essential amino acids, fiber, and healthy fats, including omega-3
fatty acids. They are a popular alternative to eggs in baked goods
and can be used as a food preservative in various food products.
However, challenges exist in the market. For instance, the high
carbohydrate content in flaxseeds may limit their use
in low-carb diets. Additionally, their use in confectionery
products and ice creams may increase calorie intake. High
cholesterol levels in some individuals may also limit their
consumption due to the presence of fats. Flaxseeds are beneficial
for human health, reducing the risk of heart diseases and diabetes.
They are also used in animal feed, particularly for horses and
dogs, for their nutritional benefits. Flaxseed meal, flaxseed oil,
and flaxseed powder are popular forms of flaxseeds used in various
food products, including energy bars, muffins, and juices.
Industrial flax seeds are used in the production of functional
ingredients, such as flaxseed oil and meal, for use in food
products and as a source of fiber in human consumption. Flaxseed
oil is also used as a healthy oil alternative in cooking and as a
hair growth supplement. Despite these benefits, challenges remain.
For instance, flaxseeds may interact with certain medications, such
as those used to treat depression. Additionally, their use as a
food preservative may limit their shelf life in some food products.
Overall, the Flaxseeds market is expected to continue growing due
to their numerous health benefits and increasing consumer awareness
of their nutritional value. However, challenges related to their
high carbohydrate content, interaction with certain medications,
and use as a food preservative may limit their growth
potential.
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Segment Overview
This flax seeds market report extensively covers market
segmentation by
- Application
- 1.1 Food and beverages
- 1.2 Animal food
- 1.3 Others
- Product
- 2.1 Ground flax seeds
- 2.2 Whole flax seeds
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Food and beverages- The global flax seeds market is
projected to witness significant growth in the food and beverage
segment during the forecast period. Flax seeds are increasingly
used as a functional ingredient in various food and beverage
applications due to their nutritional benefits. These seeds are
rich in omega-3 fatty acids and lignans, making them an ideal
addition to foods and beverages. In the food industry, flax seeds
are used as a raw snack and as an additive in juices, pasta,
smoothies, yogurt, cereals, salads, and sports nutrition products.
Flaxseed powder can be added to ice creams, juices, and snacks to
enhance their nutritional value. In the baking industry, flax seeds
are used in bakery and confectionery products such as cookies,
bread, and energy bars, as well as in pasta. Whole flax seeds are
added to baked products to improve texture, while ground flax seeds
are recommended for their health benefits. Flax seeds can also be
used to prepare porridge and puddings, added to baked goods, used
as a substitute for eggs or oils in certain recipes, and mixed with
liquids to create healthy drinks. The food and beverage segment's
growth is attributed to the increasing demand for healthy food
options globally.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
Flax seeds, also known as linseeds, are a popular edible crop
rich in essential nutrients. They come in two forms: flaxseeds and
flaxseed oil. Flax meal is the byproduct of flaxseed processing.
Both flaxseeds and flaxseed oil are valuable sources of omega-3
fatty acids, fiber, proteins, and various minerals like calcium.
Flaxseeds are used for human consumption as a healthy addition to
meals, while flaxseed oil is used for cooking and as a dietary
supplement. Flaxseeds also serve as an essential ingredient in
animal feed and industrial applications. The seeds are also rich in
antioxidants, which help prevent heart diseases, diabetes, and
cancer. Quinoa seeds are sometimes mistakenly referred to as flax
seeds, but they are not related. Flaxseed exports have been
increasing due to their numerous health benefits and growing
demand.
Market Research Overview
Flax seeds, also known as linseeds, are a rich source of
essential nutrients, including omega-3 fatty acids, fiber, and
various minerals such as calcium, phosphorus, potassium, and
magnesium. They are commonly used in human consumption,
particularly in the bakery industry for making bread, pastries, and
baked goods like muffins, cookies, and pancakes. Flax seeds are
also used as an egg alternative in vegan and vegetarian diets. Flax
seeds are also used in animal feed and as industrial seeds. They
are a popular ingredient in functional food and beverages,
including breakfast cereals, energy bars, juices, and ice creams.
Flax seeds are known for their blood pressure-lowering properties
and are used as a natural blood thinner. They have been linked to a
reduced risk of heart diseases, stroke, and certain types of
cancer. Despite their numerous health benefits, flax seeds can have
adverse health effects in some cases. They may cause bowel
obstructions if consumed in large quantities due to their high
fiber content. They may also interact with certain medications,
such as blood thinners, and may not be suitable for individuals
with sodium sensitivity or kidney disease. Flax seeds come in
various forms, including whole seeds, flax meal, flaxseed oil, and
flaxseed powder. They are rich in essential amino acids, making
them a valuable source of protein for humans and animals. They are
also used as a food preservative and in the production of
functional ingredients for various food products. Flax seeds are
also used in pet food and as a supplement for horse and cat health.
They are rich in fiber, which aids in digestion and supports
healthy nerve functions. Flaxseed oil is used as a healthy oil and
is rich in omega-3 fatty acids, which are essential for heart and
brain health. Flax seeds are also rich in antioxidants, which help
protect the body against damage from free radicals. They are also
used in the production of capsules and tablets for easy
consumption. The texture of flax seeds makes them an excellent
addition to snacks and can be used in the production of
confectionery products. Despite their numerous health benefits,
flax seeds can have toxicity issues if not stored properly or
consumed in large quantities. It is essential to consume flax seeds
in moderation and ensure they are stored in a cool, dry place to
maintain their freshness and nutritional value. In conclusion, flax
seeds are a nutrient-rich and versatile ingredient used in various
industries, including food and animal feed. They offer numerous
health benefits, including heart health, improved digestion, and
cancer prevention. However, they must be consumed in moderation and
stored properly to avoid adverse health effects.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Food And Beverages
- Animal Food
- Others
- Product
-
- Ground Flax Seeds
- Whole Flax Seeds
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio