Flax Seed Market Size
|Market Size (2023)||USD 0.8 Billion|
|Market Size (2028)||USD 1.38 Billion|
|CAGR (2023 - 2028)||11.57 %|
|Fastest Growing Market||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
Flax Seed Market Analysis
The Flaxseeds Market size is estimated at USD 0.80 billion in 2023, and is expected to reach USD 1.38 billion by 2028, growing at a CAGR of 11.57% during the forecast period (2023-2028).
- Flax seed or linseed is an annual herbaceous crop grown in the excellent season. In recent years, flax seed has gained popularity worldwide due to its fantastic health benefits and commercial usage. Besides its usage for edible purposes such as food and oil, flax seed is also being used in textile industries over the past few years. In the global market, flaxseeds can be used for crushing, which results in oil and flax meal production. It can also be used in the form of whole seeds, roasted, sprouted, and grounded seeds.
- Flaxseed oil and meal are used to produce human and animal food products. Flax oil is widely used in the industry for linoleum production, varnish, and ink production. As a result, Flax seeds are grown worldwide in different climate zones and countries due to their high demand and domestic and international markets.
- Kazakhstan, Russia, Canada, China, India, the United Kingdom, and the United States are some of the leading countries in global flax seed production. Furthermore, flaxseeds are a cheaper alternative to chia seeds and quinoa seeds for animal feed and industrial purposes, increasing global production. Therefore, the increasing usage of flax seeds due to their health benefits and use in industrial purposes driving global production are some of the factors anticipated to drive the flax seed market in coming years.
Flax Seed Market Trends
This section covers the major market trends shaping the Flaxseeds Market according to our research experts:
Growing Popularity of Super Foods is Driving the Market
The popularity of "super" ingredients has increased significantly over the recent past as consumers are more inclined toward natural and wholesome ingredients. These products have superior nutritional value as they are rich sources of polyphenols, antioxidants, vitamins, and minerals. Due to the high dietary fiber content of flax seeds, antioxidants, and protein, regular consumption of flaxseeds helps in good digestive functioning.
Flax seed is one of the world's richest known plant sources of Omega-3. For instance, flax seed naturally contains 40% oil, of which 55% is Omega-3 essential oil that benefits both animals and humans, improving metabolic processes, stamina, immunity, etc. Furthermore, the increased availability of "superfoods," including flaxseeds' in supermarkets, traditional grocery stores, and convenience stores has increased the demand for flax seeds in developing countries over the past few years.
The rising demand for flax seeds worldwide has led to an increase in global flax seed production. According to FAOSTAT, the world harvested area of flax seed has increased by over 31% from 3.14 million hectares in 2018 to 4.14 million hectares in 2021. Therefore, the increasing demand for flax seeds due to associated health benefits and usage as superfoods, along with the increased global production, is anticipated to drive the flax seed market in the coming years.
To understand key trends, Download Sample Report
Asia-Pacific Leads the Global Flaxseed Production
Asia-Pacific is the largest flaxseed-producing region in the world. Kazakhstan, China, India, Australia, and Iraq are the major producers and consumers of flaxseeds in the region. Kazakhstan alone accounts for about 37% of the total harvested area with over 1.34 million hectares in 2020 according to FAOSTAT. The growing global demand for flaxseed has increased its export potential over the past few years.
According to ITC Trade Map, the value of linseed exports of Kazakhstan has increased by over 50% during the period 2017-2021 reaching USD 226 Million in 2021. The Asia-Pacific region is also the largest consumer of flaxseed due to the presence of large populated and developing countries such as India and China. The demand is further anticipated to increase due to the rise in disposable incomes and the growing number of middle-class families in the region in recent years. Therefore, the increasing export value of flax seeds, consumption, and rising disposable incomes in the Asia-Pacific region is expected to drive the flax seed market.
To understand geography trends, Download Sample Report
Flax Seed Market News
- April 2022: Malibu Mylk, a California-based non-dairy beverage brand, has introduced Flax Mylk for the United States market and is produced from whole, organic flax seeds. The Flax Mylk is allergen-free, made without gums, oils, or synthetic vitamins, and contains entire flaxseed without straining.
- April 2022: Scaler Bakery has introduced a new flax seed-based product, Golden Flax Seed Scala Bread. The new innovation helps the company to increase its product portfolio and market share in North American and European markets.
- January 2022: Scoular, a global agri-food company, has opened its new high-speed flax processing facility in Regina, Western Canada. The new facility helps the company increase its supply capacity and produces whole and milled flax available in golden or brown categories.
Flax Seed Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain/Supply Chain Analysis
5. MARKET SEGMENTATION (Production Analysis, Consumption Analysis by Value and Volume, Import Analysis by Value and Volume, Export Analysis by Value and Volume, and Price Trend Analysis)
5.1.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 South Korea
5.1.4 South America
5.1.5 Middle-East and Africa
184.108.40.206 South Africa
220.127.116.11 Saudi Arabia
18.104.22.168 United Arab Emirates
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
Flax Seed Market Research FAQs
How big is the Flaxseeds Market?
The Flaxseeds Market size is expected to reach USD 0.8 billion in 2023 and grow at a CAGR of 11.57% to reach USD 1.38 billion by 2028.
What is the current Flaxseeds Market size?
In 2023, the Flaxseeds Market size is expected to reach USD 0.8 billion.
Which is the fastest growing region in Flaxseeds Market?
North America is estimated to grow at the highest CAGR over the forecast period (2023-2027).
Which region has the biggest share in Flaxseeds Market?
In 2023, the Asia-Pacific accounts for the largest market share in the Flaxseeds Market.
Flax Seed Industry Report
Statistics for the 2023 Flax Seed market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Flax Seed analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.