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Flax Seeds Market size was valued at USD 14.81 billion in 2019 and is poised to grow from USD 15.7 billion in 2023 to USD 25.02 billion by 2031, growing at a CAGR of 6% in the forecast period (2024-2031).

The 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. 'AgMotion Inc.', 'CanMar Grain Products Ltd.', 'Cargill, Incorporated', 'Archer Daniels Midland Company', 'Simosis International', 'TA Foods Ltd.', 'Glanbia plc', 'S.S Johnson Seeds', 'Shape Foods Inc.', 'Grain Millers, Inc.', 'Stokke Seeds AS', 'Sunnyville Farms Ltd.', 'Richardson International Limited', 'Healthy Food Ingredients LLC', 'Stoltzfus Feed & Supply, Inc.', 'CHS Inc.', 'The Andersons, Inc.', 'Omega Flaxseed Inc.', 'Paragon Flax LLC', 'Bioriginal Food & Science Corp.'

The market demand for flax is developing significantly, mainly to increased demand from the food, pet food, paper, and textile industries, among others. The demand for flax seed meal as a functional food and feed additive is predicted to expand rapidly in the coming years. Flax crop derivatives, such as seeds and straw, are utilized in a variety of applications, including textile fiber and insulating materials. One of the primary factors driving the market is the growing health advantages of flax seed meal products. Flax seeds are high in lignans, fibre, and omega-3 fatty acids, which aid with cholesterol and blood sugar regulation. Flax seed meal products may aid in the prevention of breast and prostate cancer. Another important market driver is the growing use of flax crop materials in the textile and plastic sectors. Another factor expected to drive market demand for flax seed meal in the near future is the increasing number of consumers with hectic schedules and busy lifestyles, which results in stress and tension. Consumption of flax seed meal helps in reducing such problems and helps in improving health conditions.

The market is being driven by the growing popularity of superfoods. With product introductions, the popularity of "super" ingredients has grown dramatically in recent years, as customers want natural and healthful components. These foods have high nutritional value because they are high in polyphenols, antioxidants, vitamins, and minerals. Consumer inclination for functional and health-based naturally sourced products drives the market. Flaxseeds are widely available in grocery stores due to their strong demand worldwide. The accessibility of supermarkets vs traditional grocery stores and convenience stores may be a crucial influence in the sale of "superfoods," especially the availability of flaxseeds.

Based on region, 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 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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Global Flax seeds market

Product ID: SQMIG30H2137