Market Overview

Flax can be referred to as a plant that belongs to the Linaceae family with seeds termed as linseed or flaxseed. Brown flax and golden flax are the two basic varieties of flaxseeds found. Flaxseed is rich in omega-3 essential fatty acids and fibers and is highly preferred for flaxseed derivatives. The global flaxseed derivatives market, as per a report by Market Research Future (MRFR) is touted to register a striking CAGR during the forecast period (2020-2027).

The flaxseed derivatives market is estimated to garner high growth across the globe, mainly due to product enhancement of flaxseed derivatives and several health benefits allied to the product. Flaxseeds are extensively used in edibles like cereals, bread, crackers, energy bars, and others. This has boosted the sales of flaxseeds derivates market worldwide. Flaxseeds as pet food and mounting demand for organic flaxseeds will create growth opportunities for the market in the long run.

On the contrary, fluctuations in raw material prices will restrict the market growth in the foreseeable future.

Global Flaxseed Derivatives Market: Segmental Analysis

The flaxseeds derivatives market has been segmented on the basis of type, category, and application.

By type, the flaxseeds derivatives market is segmented into flaxseed flour, flaxseed oil, and others. Of these, the flour segment will dominate the market as flaxseed flour is a naturally gluten-free flour and is considered a good source of fiber and protein. It has a high concentration of oil and is generally used as a partial substitute for eggs, flours, and fats while baking. The surging use of flaxseed flour in baking muffins, cookies, and cakes and preparing pancakes, smoothies, and savory dishes are triggering the sales of the product in the segment.

The category segment constitutes of organic and conventional. Of these, the conventional segment is expected to dominate the market as these products are easily available and lower in price. On the other hand, rising health concerns and allergies from flaxseeds which are grown under conventional methods are influencing consumers to opt for safer and alternative methods, thereby augmenting organic segment.

The application of flaxseeds derivatives includes sweet savory snacks, bakery confectionery, functional food beverages, pet food, and others. Of these, the sweet and savory snacks segment will dominate during the forecast period due to daily busy schedules of the individuals, which is influencing the consumers to opt for snacks over whole meals. Rising health concerns among the population are contributing to the market growth in the segment.

Regional Frontiers

Geographically, the flaxseed derivatives market has been studied under Europe, Asia Pacific, North America, and the Middle East Africa.

Considering the global scenario, the flaxseeds derivatives market is dominated by North America. The growth is mainly ascribed to the increasing demand for clean label products, surging health awareness, and growth in vegan population. Flax crops are extensively used to feed pets and is also used as a textile flax fiber. These factors are predicted to influence the consumption of flaxseeds derivatives in the region.

The Asia Pacific will register the highest growth across the globe mainly due to factors such as rapid urbanization, the introduction of several flaxseeds’ meal products, and rising consumer spending. Increasing agricultural practices, especially in countries like India and China are likely to influence the market growth. Rising awareness regarding healthy snacks and meal products among individuals due to rising health awareness are likely to increase the sales of these products. Moreover, advancements made in the food and feed industry will drive the market growth in the APAC.

Competitive Dashboard

The top key flaxseed derivatives market players include –

Johnson Seeds Ltd (Canada), AgMotion, Inc. (the US), CanMar Foods Ltd (Canada), Cargill, Incorporated (US), Richardson International Limited (Canada), Simosis International (India), The Archer Daniels Midland Company (US), and TA Foods Ltd (Canada).

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