The global flaxseeds market size is projected to touch USD 980.3 million by the end of 2025, according to a new report released by Million Insights. It is estimated to grow at a CAGR of 12.7% from 2019 to 2025. Flaxseeds are rich in several nutrients such as minerals, fiber, omega 6, omega 3, fats and vitamins. Such nutritional qualities are projected to fuel market growth over the estimated duration. Additionally, these seeds are capable of reducing blood sugar and cholesterol. Further, they help in preventing chronic diseases. These factors are expected to drive the demand in the upcoming years.
Ground seed led the market in 2018 and is further projected to be the rapidly growing segment over the forecast period. They are extensively used for oil extraction. This oil is widely used across several industries such as the food industry, pharmaceutical and personal care. Flaxseed oil is capable in healing skin issues such as eczema, sunburn patches and itchy patches caused by psoriasis. Owing to these benefits, the demand for flaxseeds has increased considerably among consumers, which, in turn, is predicted to bode well for the market growth in the upcoming years.
As per the survey, it has been observed that flaxseed oil also helps in lowering the occurrence of cardiovascular diseases and cancer. This oil is safe for both animal and human consumption as it is made by using a cold-pressing method. For example, ADM, in 2017, introduced a new product named Onavita flaxseed oil, which is rich in omega 3 fat and helps in the prevention of various skin diseases and allergies.
Asia Pacific dominated the flax seeds market in 2018 and is predicted to grow rapidly from 2019 to 2025 due to the growing preference of products fueled by various nutritional properties. Moreover, flaxseeds are used extensively in the confectionary and bakery industry for producing nutritious food products. Additionally, many Asian nations such as India, Kazakhstan, and China are the largest manufacturers of linseed. These factors are projected to fuel the regional market growth over the forecast duration.
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Further key findings from the report suggest:
• Ground seed led the market, occupying a 63.5% revenue share, in 2018.
• The food segment was worth USD 204.5 million in 2018 and is predicted to grow substantially over the estimated period.
• Asia Pacific led the market in 2018, occupying a revenue share of 37.1%. This dominance is projected to continue in the upcoming years. China is the leading consumer owing to the large population and growing economy.
• Leading companies in this industry include Simosis International, TA Foods Ltd., S.S Johnson Seeds, Sunnyville Farms Ltd., CanMAr Grain Products Ltd., Richardson International Ltd., Stokke Seeds and AgMotion Speciality Grains.
• Manufacturers are using various strategic initiatives such as technological innovation, new product launches and capacity expansion to maintain their dominance over the forecast period.
Million Insights 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
• Asia Pacific
• Central & South America
• Middle East & Africa (MEA)