Flaxseed Market to
Reach US$ 3,626.1 Mn by 2022
According to a new
market research report published by Credence Research “Flaxseed Market (Food,
Feed, Pet Food, Paper & Pulp, Textile and Other (personal care, biofuel,
building construction among others)) - Growth, Share, Opportunities,
Competitive Analysis, and Forecast 2015 - 2022” the global flaxseed market was
valued at US$ 1,500.0 Mn in 2014 and is estimated to expand with a CAGR of
12.2% from 2015 to 2022.
Market
Insights:
Rising awareness
regarding health benefits associated with the consumption of flax seed products
is a major factor contributing towards the market growth. Flax seeds are rich
in fiber, lignans, and omega-3 fatty acids that helps in the control of
cholesterol and blood sugar. Flaxseed are nutritionally enriched when used in
animal and human food. Furthermore, flax products helps in protecting against
cancer in human. The global market for flax is growing significantly, owing to
its rising demand from the food, animal feed and pet food industries. In the
U.S. usage of flax in baked goods has more than doubled over the last few
years. Currently flaxseed are getting huge demand from the food industry for
use in crackers, breads, energy bars, cereals, and snacks.
The demand for flax
for energy, industrial products and fabrics is also increasing significantly
due to its renewable nature and will gradually become an important as the
technology to utilize flax improves. The utilization of flax in livestock, pet
health is also growing. Animals also benefit from flax’s nutritional
properties. New technology is being developed to improve the utilization of
flax in feed while R&D has improved the amount of omega-3 that can be
incorporated into livestock and poultry products. Over the coming years it
might be possible to use flax in the production of biodegradable packaging
films for food.
Competitive
Insights:
The entry of major
food companies into flax products would help grow the sector. The promotion of
flax would increase which would increase consumer awareness and help drive the
demand for flax products for food. Some of the players already present in this
market are Archer Daniels Midland Company, Optimum Nutrition, Bioriginal Food
& Science Corp., Natural Brand and Sundown among others.
Key Trends:
Focus on enhancing new
applications for flax
Emphasis on
development new food products including flax for human and animal food
Geographical expansion
through organic as well as inorganic growth
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