In a recent published report, Kenneth Research has updated the market report for Flaxseed Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Flaxseed Market products.
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The Flaxseed market was valued at USD 420.8 million by 2017, growing with 11.9% CAGR during the forecast period, 2018-2025
Flaxseed is a part of the linseed family and is known for being a heavily nutrient dense product. These are used in a variety of applications owing to their high level of nutrients such as protein, essential fatty acids and omega 3 derivatives. This product is rich in fiber and has been used through the ages across all age groups, especially for women. Flaxseeds are generally found in regions of Canada and well-known for their long-standing health benefits such as reducing cholesterol, improves digestion, great for hormone balancing for menopausal woman. They are also known to have anti-allergic effects and therefore has a wide range of benefits for people.
Flaxseeds are great anti-depressants as well. With a rise in depression, stress and anxiety across age groups, the consumption of flaxseeds is expected to go up. One of the drivers for this industry is also the fact that most people are opting for healthier lifestyle options due to the increasing prevalence of lifestyle diseases. It is known to help in fighting grave diseases such as diabetes and even cancer. Flaxseed meals owing to its nutrition are also identified as a good option for the pet food industry. Such associated benefits would in turn surge in demand for flaxseeds among the end-users, driving the market growth. Among the market restraints, the major limiting factor is that these contain Alpha-Linoleic Acid (ALA) and does not contain Eicosapentaenoic (EPA) since usually a combination of these is recommended.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The industry is categorized into ground, whole, and flaxseed oil. The whole products are the largest category with respect to revenue generation. Whole flaxseed can also be further categorized into brown raw or brown toasted. Ground flaxseeds are also commonly used the benefit being that they are already blended out and therefore and easy to digest, Therefore it can be incorporated into various food formats much more easily than whole flax seeds are. Ground Flaxseed is used in the making of healthy bakery items such as cookies, etc.
Flaxseeds are used across various industries however the predominant categorization being food, pet Food, and others. Application wise, the major category revenue wise continues to be the food segment. These are used across almost all food categories such as bakery, nutritional power mixes, directly added into food, sprinkled over food. It is also used in ice creams, snacks, in creams, energy bars, cookies and more.
Flaxseed oil is also used in a wide variety of applications owing to health benefits in people. The growth is followed by the pet industry. Based on data published on the India pet food industry, the pet food industry in India is expected to cross USD 270 million. Flaxseeds have known to special advantages in improving the health of dogs and horses. Therefore, the use of flaxseed in the pet feed market is anticipated to grow significantly.
Region wise, the U.S. country dominates the flaxseed market. The North America continues to grow at a steady growth rate. Currently, China is the largest importer of this product, which is followed by India. France and the U.S. are the major exporters of Flaxseeds. Some of the other countries that are also actively involved in the flaxseed industry are Eastern Europe, Asia Pacific, Japan, Africa, and the Middle Eastern countries.
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Key Vendor Takeaway
Some of the key players in the flaxseed industry are AgMotion Speciality Grains, Richardson International, S.S Johnson Seeds, Sunnyville Farms Ltd, Cargill Inc., Archer Daniels Midland Company, Stokke Seeds, CanMAr Grain Products Limited, Simosis International, Ltd. and TA Foods Limited.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
Traders, Distributors, and Suppliers
Government and Regional Agencies
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCT
MARKET, BY APPLICATION
MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of the World
Middle East and Africa
About Kenneth Research
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