USD 14.81 billion
Report ID: SQMIG30H2137 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 152 | Figures: 78
Global Flax Seeds Market size was valued at USD 14.81 billion in 2021 and is poised to grow from USD 15.7 billion in 2022 to USD 25.02 billion by 2030, growing at a CAGR of 6% in the forecast period (2023-2030).
Flax is a fibre crop and food that has been farmed for thousands of years. Flax seeds range in colour from golden yellow to reddish brown and include phytoestrogens, which are related to the hormone oestrogen. Flaxseeds include soluble fibre as well as oil containing alpha-linolenic acid (ALA), an essential omega-3 fatty acid. Flaxseeds have been used to treat diabetes, high cholesterol, high blood pressure, obesity, gastralgia, and renal enlargement in lupus patients. Customers are currently demonstrating a trending demand for items with high nutritional content, natural, wonderful taste, and flavour for their various purposes. People on a weight-loss regimen are increasingly ingesting flaxseed before meals because the fibre in flaxseed helps people feel less hungry. Some research shows how fibre binds with cholesterol in the colon, preventing fibre absorption. Furthermore, flaxseeds are becoming more popular for additional health benefits, such as making platelets less sticky. Flaxseed's effect on cholesterol and blood coagulation may reduce the risk of atherosclerosis, or artery hardening.
US Flax Seeds Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 14.81 billion
Ground Flax Seed
Flax Seed Oil
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Flax Seeds Market is segmented based on nature, type, end use, distribution channel. Based on nature Flax Seeds Market is segmented as organic, conventional. Based on type market is segmented into whole flax seeds, powdered flax seeds, flax seed oil, others. Based on end use Flax Seeds Market is segmented into food & beverage industry, nutraceuticals, animal feed, retail/household, industrial. Food & beverage industry is further divided into dairy products, snacks & cereals, bakery & confectionery, beverages, others. Based on distribution channel Flax Seeds Market is segmented as business to business, business to consumers. Business to consumers is further divided as hypermarkets/supermarkets, convenience stores, speciality stores, online retail.Based on application, the Flax Seeds Market is segmented into Food, Animal & pet food, and others. Based on region Flax Seeds Market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa.
Flax Seeds Market Analysis by Form:
The global flax seed market is divided into three types: flax seed oil, ground flax seed, and whole flax seed. Due to its widespread use in the creation of various food products such as bakery goods and other delicacies, the ground flax seed sector is expected to dominate the worldwide flax seed segment market in the approaching years. The addition of ground flax seed does not alter the texture or consistency of the food product and is easily digestible, which is another important element that will promote the segment's growth.
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Based on region, global flax seeds market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa. Because of the significant production of the commodity in countries such as Canada and the United States, North America is likely to occupy the lion's share of the global flax seed market. According to the Agricultural Marketing Resource Centre, Canada is the world's largest producer of flax seed. Increasing consumer awareness about the health benefits of flax seed is expected to drive flax seed market growth in North America; Asia Pacific is expected to grow significantly during the forecast years, owing to rising demand and consumption of flax seed in emerging economies such as India and China:
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Flax Seeds Market Drivers
Flax Seeds Market Restraint
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The global flax seeds market is fragmented, with a prominent market player acquiring a sizable portion. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective.
Top Players in the Global Flax Seeds Market
Flax Seeds Market Recent Developments
Terra Ingredients, a subsidiary of AgMotion Inc, rebranded in 2019 and partnered with Stone Mill to increase its organic ingredient offerings. Stone Mill filters raw agricultural commodities to produce the highest-quality food-grade goods, including organic and non-GMO flax, garbanzo beans, lentils, quinoa, and radish seeds.
Linwood’s Health Foods added Multi boost organic milled hemp seed with flax and chia seeds to their product line in 2019.
Archer-Daniels-Midland Company introduced flaxseed oil "Onavita" in 2016. Onavita is a non-GMO, totally refined flaxseed oil that is suitable for vegans and vegetarians and offers consumers a cost-effective solution.
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According to our global flax seeds market analysis, due to increased demand from developed countries and consumer awareness of the health advantages of flax seeds, Asia Pacific is expected to have a large demand in the forecast. The Asia-Pacific region produces the most flax seed. Flaxseed oil is widely consumed in the region because it lowers cholesterol and blood sugar levels in humans. The increased usage of flaxseed in bakery items, animal feed, and pet food is attributable to the growth in demand.
|Market size value in 2021
|USD 14.81 billion
|Market size value in 2030
|USD 25.02 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Flax Seeds Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Flax Seeds Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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