People across region are increasing moving toward healthier lifestyles, which is among the major factors influencing demand for flaxseeds as it is associated with numerous health benefits. Flaxseeds have high content of essential omega-3 fatty acids along with alpha-linolenic acid. Flaxseeds contain around 40% to 50% oil, which is mostly comprised of healthy polyunsaturated fatty acids. 55% to 57% of the oil in flaxseeds is essential omega-3 fatty acid, ALA, which helps lessen the chance of sudden cardiac death in people with heart disease. Flaxseed is one of the richest plant sources of lignans, providing up to 800 times more lignans than most other foods. Lignans are associated with protection against cancer. Benefits such as lower cholesterol levels, lower risk of heart disease, and improved digestive health are driving the sales of flaxseeds. Besides the food industry, flaxseeds are also widely used in animal feed.
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The global flaxseed market is set to experience a growth of around 6% CAGR in value over the 2020 to 2030 forecast period.
Key Takeaways from Market Study
- t in East Asia is expected to surge in countries such as China and South Korea at CAGRs of 7.4% and 7.8%, respectively, over the decade.
- Demand for flaxseeds is high from food industry and well as the animal feed industry.
- In Asia Pacific, flaxseed oil is used for various industrial applications such as in making paints, printing inks, textiles, soaps, shoe polish, and other specialty items. Manufacturers are also offering flaxseed oil to the food industry as well as the nutraceutical segment.
- Use of whole flaxseed is increasing in the food industry, in bakery, confectionery and dairy products, and is expected to show significant value CAGR of close to 6.5%, owing to growing awareness among consumers about its nutritional value.
- The flaxseed market in Mexico is projected to expand at a value CAGR of close to 7% throughout the decade.
- Germany, Russia, and BENELUX countries in the European market account for a significant share owing to high per capita consumption.
- Efficient supply chains and distribution channels of flaxseed products are facilitating easy availability. Online distribution of the business to the consumer segment is expected to witness growth of more than 7.5% CAGR through 2030.
- The outbreak of COVID-19 disrupted the supply chain of flaxseeds in the international market. However, with increasing demand for healthy and nutritional products, the market is expected to recover over the next two to three quarters.
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Competitive Landscape
Flaxseed manufacturers and distributers are focusing on increasing their supply capacity by installing new, advanced machinery to fulfill the growing demand from customers. Manufacturers are also constantly making efforts to offer flaxseeds for end use in various industries, especially nutraceuticals.
- In 2020, Bioriginal Food & Science Corp successfully installed a new and advanced state-of-the-art bottling line at its facility in the Netherlands. This has given the company the ability to offer its nutritional oils as finished products and helped it expand its turnkey capabilities in the European and Asian markets.
- In 2019, Archer Daniels Midland Company collaborated with Qualitas Health to provide a vegan DHA/EPA blend for its customers. This collaboration introduced a new line of Onavita flaxseed oil that is suitable for vegan customers looking for ready-to-eat food and beverages that provide specific health benefits.
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