The chia seeds market was valued at USD 0.38 billion in 2017. The global chia seeds market is projected to register a CAGR of 42.46% during the forecast period of 2018-2023, and is estimated to reach a value of USD 2.23 billion by 2023. The report global chia seeds market provides the key information on growth, segmentation, and trends of the chia seeds market.
The report delivers a detailed analysis on various aspects of the chia seed market, which are broadly segmented by geography. The geographic segmentation is done by region, which includes North America, Europe, Asia-Pacific, South America, and Africa and further country-wise analysis is also carried out.
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The report presents an analysis of production, consumption, import, and export of the global chia seeds market. About 80% of the global chia supply comes from Latin America. The US is the largest chia seed market globally. However, it is not the largest producer of the same. Within the US, a variety of products such as cereals, baked goods, and beverages include chia as an ingredient. While a relatively niche market until recently, large players such as Kellogg are now introducing the seeds into their products, recently introducing a cereal bar containing chia in an attempt to connect with the growing health-conscious consumer in the US market. Other countries in Asia-Pacific including Australia are scaling up production to meet the global demand. Also, in 2014, North America witnessed the largest food & beverage launches with chia ingredients, followed by Asia-Pacific and Europe. In the future, the demand for chia-based products is expected to increase in the UK, Brazil, Chile, Spain, and India.
Chia Seeds Market Dynamics
Growing popularity of super foods, increased usage in food industry, increased area under chia seeds, and increased use as animal feed are some of the factors driving the market. However, rapid price fluctuations, geographically consolidated production, and availability of cheaper alternatives are the factors constraining the market. Organic and non-GMO variants are the emerging trend for chia seeds. In terms of product launches, chia is used as a functional ingredient in a number of bakery products, muesli bars, peanut butter, cereals, and more.
Chia is a native of Guatemala and can easily be produced in the long, dry climates found in South American countries, such as, Ecuador, Bolivia, Peru, etc. Chia seeds do not follow the commoditization trend because the market is still small and knows little about the high quality standards demanded by large industry, and the supply is also unstable. However, as more and more consumers are getting aware of chia seeds and its benefits, the market is likely to witness tremendous growth in the near future globally. Some important vendors or traders in the global chia seeds industry include - BENEXIA, Bestground international (Bestground), ChiaCorp, Corporación Kunachia (Kunachia), Naturkost Übelhör, the Chia Co., etc.