Flaxseeds Market Detailed Analysis On The Basis Of Application, Key Players, Latest Trend, Region, COVID-19 Impacts, And Growth Forecast | Grand View Research, Inc.
The global flaxseeds market size is expected to reach USD 980.3 million by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 12.7% over the forecast period. Various nutritional properties associated with flaxseeds including omega 3, omega 6, fiber, vitamins, minerals, and other essential fatty acids are expected drive the market over the forecast period. In addition, these seeds are beneficial for reducing the cholesterol level and blood sugar in the body. It also helps to prevent various chronic diseases including cardiovascular diseases. These factors are increasing the demand for the product among consumers.
Ground seed dominated the market in 2018 and is expected to be the fastest growing segment from 2019 to 2025. They are primarily used for the oil extraction. The oil has applications in various industries including pharmaceutical, personal care, and food industries. Flaxseed oil is beneficial to heal skin disorders including itchy patches of psoriasis, sunburned skin patches, and eczema.
Due to these advantages, adoption of oil is increasing among customers and is anticipated to foresee significant growth in the next few years. According to a survey, the flaxseed oils help to reduce the risk of cancer and cardiovascular diseases. This oil is produced by cold pressing method and is helpful and safe for both humans and animals. For instance, in 2017, ADM launched a new product called Onavita flaxseed oil, which contains omega 3 and helps to prevent different skin diseases.
Asia Pacific emerged as the largest regional market in 2018. It is anticipated to witness the fastest growth in the forecast period owing to increasing awareness regarding health benefits associated with the product. Furthermore, over the past few years, increasing application in the bakery and confectionary industry for the preparation of nutritious food products has supported the flaxseeds market growth. In addition, various Asian countries including Kazakhstan, China, and India are the largest producers of flaxseed.
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Flaxseeds Market Report Highlights
• By product, ground seeddominated the global flaxseeds market with an overall revenue share of 63.5% in 2018
• The food application segment was valued at USD 204.5 million in 2018 and is projected to exhibit high growth over the forecast period
• Asia Pacific dominated the global in 2018, accounting for 37.1% share of the total revenue. This trend is projected to continue over the forecast period. China is the largest consumer due to its growing economy and large population
• Key market players include TA Foods Ltd.; Richardson International Ltd.; S.S Johnson Seeds; AgMotion Speciality Grains; CanMAr Grain Products Ltd.; Archer Daniels Midland; Cargill Inc.; Simosis International; Stokke Seeds; and Sunnyville Farms Ltd. Company.
• Various manufacturers are concentrating on new product launches, capacity expansion, and technological innovation to estimate existing and future demand patterns from upcoming product segments.
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Flaxseeds Market Segmentation
Grand View Research has segmented the global flaxseeds market by product, application, and region:
Flaxseeds Product Outlook (Revenue, USD Million, 2015 – 2025)
• Ground Seed
• Whole Seed
Flaxseeds Application Outlook (Revenue, USD Million, 2015 – 2025)
• Animal & Pet Food
Flaxseeds Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• The U.S.
• Asia Pacific
• Central and South America
• Middle East & Africa
List of Key Players of Flaxseeds Market
• TA Foods Ltd.
• Richardson International Ltd.
• S.S Johnson Seeds
• AgMotion Speciality Grains
• CanMAr Grain Products Ltd
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About Grand View Research
Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.
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