People around the world are increasingly becoming aware of the health benefits associated with flax seeds. The increasing consumption of flax seeds is expected to attract significant traction in the forecast period. The rising demand for organic products across the world is expected to drive the market growth. Recently, a company in Chhattisgarh, India signed a Memorandum of Understanding (MoU) with agro-products in Japan. The MoU signed says that flax seeds, lentils, and cashews will be exported to Japan as Japanese tend to like Indian cuisines. The high nutritional value of flax seeds is one of their primary benefits and they help in the prevention of cholesterol collection in the human body. This is owing to the presence of alpha-linolenic acid or ALA, an essential omega-3 fatty acid. As per a recent study by Costa Rica, it was found that around 3638 people consuming ALA in their food has lower risk of cardiac arrest. Spurred by this benefit, the demand for flax seeds is expected to increase in the forecast years.
Fortune Business Insights offers a detailed overview of the global market in a report, titled “Flax Seed Market Size, Share And Global Trend By Form (Flax Seed Oil, Ground Flax Seed, Whole Flax Seed), By Application (Food Industry, Animal Feed), And Geography Forecast Till 2026.” The report provides a detailed overview of the global market by throwing light on the shifting industry dynamics. It further offers an in-depth analysis of the market segmentation and its contributions to the market. Furthermore, the report gives a comprehensive evaluation of competitive landscape by highlighting information on strategies adopted by key players and their product offerings. Drivers, opportunities, trends, and restraints are discussed in detail in the report, helping our stakeholders to get a complete understanding of the market. The projection and estimations are set by using different methodologies and research techniques.
Increasing Consumption of Bakery Products to Stoke Demand for Ground Flax Seeds
According to form, ground flax seeds are expected to lead the market owing to the increasing consumption of bakery food products. Ground flax seeds are predominantly used in edible and bakery products, not affecting the consistency and texture of the food item. Furthermore, addition of ground flax seeds ensures the easy digestibility of food products. Considering these factors, the segment is expected to drive in the forecast period.
As per application, the food industry is expected to witness the highest demand for flax seeds and holds the majority of the market share. The rising utilization of these seeds for the production of energy bars, bakery products, confectionaries among others is further estimated to expand the food industry in the years to come.
Largest Production of Flax Seeds in Canada to Drive the Market in North America
Among regions, North America is anticipated to cover the majority share in the global market. The growth is ascribable to the proliferating production of these seeds in countries such as the U.S. and Canada. Agricultural Marketing Resource Center says that Canada produces the highest number of flax seeds around the world. This shows that the market is expected to rise in this region in the forecast period. Additionally, people in this region are fully aware of the health benefits associated with flax seeds. This, as a result, is projected to propel growth in the market in North America.
The market in Asia Pacific is expected to register moderate growth in the projected horizon. This is primarily owing to the rising consumption and demand for flax seeds in developing nations such as India and China.
S.S. Johnson Seeds, Sunnyville Farms Ltd., and Cargill Incorporated are Among the Leading Players
As per research studies, flax seeds are rich in lignans, that have high estrogen and anti-oxidant properties. These properties can reduce the risk of cancer and eventually improve the patient’s health. A Canadian Study took a sample of 6000 women and found that those who eat flax seeds have lesser risk of developing breast cancer. However, higher consumption of flax seeds can result in blood thinning and obstructions in bowel movements. Such issues can hamper the growth of the market.
As per the report, some of the companies are leading in the global market. These include:
Sunnyville Farms Ltd.
CanMar Grain Products Ltd.
S. Johnson Seeds
TA Foods Ltd.
Richardson International Ltd.
Companies are continuously focusing on product launches and product innovation to expand their geographical presence in the market. Some of the companies performing exceptionally well in the market are S.S. Johnson Seeds, Archer-Daniels-Midland Company, Sunnyville Farms Ltd., and Cargill Incorporated.
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.