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The global flax seed market is anticipated to grow at a significant pace during the forecast period, due to increasing recognition of flaxseed as a healthy and nutritive edible crop. Growing demand for flax seed fit for human consumption, flax seed for animal feed and industrial flax seed is projected to fuel the growth of global flax seed market in the upcoming years.
Key companies operating in the global flax seed market are centering on product innovation and new launches, along with expanding their global reach to maintain their market prominence. Archer-Daniels-Midland Company, S.S. Johnson Seeds, Cargill Incorporated, and Sunnyville Farms Ltd. are some of the key companies performing in the global flax seed market.
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Flax seed, also known as linseed, is an edible and very old fiber crop mainly grown in cold regions. Flax seed belongs to the family of Linaceae. Flax seeds are loaded with various nutrients, such as protein, carbohydrate, omega-3 fatty acids, calcium, magnesium, phosphorous, potassium, and others. Regulated consumption of flax seeds has the potential to prevent diseases heart diseases, cancer, and other severe diseases.
Rising global demand for functional food is leading to the demand for functional ingredients, which is anticipated to fuel the growth of flax seed market. Growing demand for flax seed from the end-use industries due to presence of fiber, omega-3 fatty acids, and antioxidant properties present within them is further projected to boost their market growth in the forthcoming years. Furthermore, increasing consumer inclination towards natural & organic food products and ingredients, and nutrition-rich products is expected to propel the flax seed market growth.
Consumption of unregulated amount of flax seeds can cause adverse health effects among human beings and can also cause toxicity, which is anticipated to hinder the flax seed market growth. Excess consumption of flax seed can result in bowel obstructions and blood thinning (in people suffering from blood disorders) among some individual which can further restrain the market growth.
Some of the major companies that are present in the global flax seed market are Cargill Incorporated, Simosis International, AgMotion Inc., Sunnyville Farms Ltd., CanMar Grain Products Ltd., S.S. Johnson Seeds, Archer-Daniels-Midland Company, Healthy Oilseeds, TA Foods Ltd., Richardson International Ltd., and Stokke Seeds among the other players operating in the global flax seed market.
· Flax Seed Oil
· Ground Flax Seed
· Whole Flax Seed
· Food Industry
Ø Breakfast Cereals
Ø Bakery products
Ø Energy Bars
· Animal Feed
· North America (U.S., Canada, and Mexico)
· Europe (France, Germany, Italy, Spain, U.K., Russia, and Rest of Europe)
· Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
· South America (Brazil, Argentina, and Rest of South America)
· Middle East & Africa (South Africa and Rest of ME&A)
On the basis of form, the global flax seed market has been segmented into flax seed oil, ground flax seed, and whole flax seed. The ground flax seed segment is projected to dominate the global flax seed segment market in the upcoming years, due to its wide incorporation in production of various food products, such as bakery products and other edibles. Addition of ground flax seed does not disturb the texture and consistency of the food product and is easily digestible, which is another significant factor that is expected to aid the segment’s growth.
On the basis of application, the global flax seed market has been segmented into the food industry, animal feed, and others. The food industry segment is projected to hold the major market share during the forecast period, owing to increasing utilization of different forms of flax seed in the production of confectionery products, bakery products, energy bars, and others. Animal feed segment is projected to hold a significant market share in the global flax seed market during the forecast years due to increasing demand for nutritional animal feed products.
North America is expected to hold the major market share in the global flax seed market, due to the high production of the product in countries such as Canada and US. According to the Agricultural Marketing Resource Center, Canada is the largest producer of flax seed across the globe. Increasing consumer awareness about the health benefits of flax seed is expected to propel the market growth of flax seed in North America. Asia Pacific is anticipated to register significant growth during the forecast years, owing to increasing demand and consumption of flax seed in emerging economies, such as India and China.