Flaxseed Derivatives Market size, Latest Innovation, Industry Trends, Size, Share, Growth 2027
Market Highlights
The growth of global flaxseed
derivatives market is influenced by the growing consumption of specific food
and food ingredients which are not only intended to satisfy hunger but also
provide basic nutritional requirements and prevent nutrition deficiencies.
Flaxseeds are processed by market players into several products such as oil and
flour that help in the improvement of physical and mental wellbeing of the
consumers.
Based on type, the global flaxseed
derivatives market has been segmented into flaxseed oil, flaxseed flour, and
others. The flour segment is expected to dominate the global flaxseed
derivatives market during the forecast period. Flaxseed flour is a naturally
gluten-free flour and a good source of protein and fiber. Flaxseed flour has a
high concentration of oil and is used as a partial substitute for eggs, fat,
and other flours while baking. The increasing use of flaxseed flour in baking
cookies, muffins, and cakes; in preparing smoothies, pancakes, and savory
dishes; and thickening of soups and sauces, are fueling the segmental growth in
the global flaxseed derivatives market. However, flaxseed oil is increasingly
gaining traction among the health-conscious consumers since it is a rich source
of alpha-linolenic acid (ALA), a type of omega-3 fatty acid. Omega-3 fatty
acids are vital to a person’s physical and mental health. The ALA content in
flaxseed oil is used by the body and is converted in small amounts to other
fatty acids such as docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA).
Flaxseed oil, also known as linseed oil, is extracted by cold pressing ripened
flaxseeds. Furthermore, flaxseed oil is commercially available in both capsule
and liquid form.
The global flaxseed
derivatives market size has been divided, by category, into organic and
conventional. The conventional segment is expected to dominate the global
flaxseed derivatives market during the forecast period since conventional
products are lower in price and easily available. However, growing health
concerns and allergies from flaxseed crops grown under conventional methods are
encouraging consumers to shift towards a safer alternative, thereby boosting
the organic segment in the global market. Organic flaxseed derivatives are
produced from flaxseed crops that are grown organically without the use
of harmful chemicals or ripening agents. The organic segment is expected to
record higher CAGR during the forecast period due to the increasing practice of
organic farming and growing inclination of health-conscious consumers towards safer
food crops as compared to conventional farming.
By application, the global flaxseed
derivatives market is divided into bakery & confectionery, sweet &
savory snacks, pet food, functional food & beverages, and others. The sweet
& savory snacks segment is expected to dominate the global market during
the forecast period. Daily busy schedules are encouraging consumers to choose
snacks over whole meals to save time as well as increasing health concerns are
driving the popularity of flaxseed products. However, consumers are being
educated about healthy diet, and proper nutrition intake by market players due
to which demand functional food and beverages is increasing. Additionally,
functional food and beverages fortified with flaxseed help in improving cardiovascular
health, eye health, and brain health, especially among the elderly population.
Regional Analysis
The global flaxseed derivatives
market has been segmented by North America, Europe, Asia-Pacific, and the Rest
of the World.
The flaxseed derivatives market in
North America is expected to dominate during the forecast period. Flaxseed
derivatives are widely consumed owing to its high nutrition level including
omega-3 fatty acids, fiber, and natural antioxidants. Growing health concerns
such as high cholesterol and diabetes due to unhealthy snacking in the region
are encouraging the growth of flaxseed derivatives in the region.
The market in Asia-Pacific is
expected to be the fastest growing during the forecast period. High population
and growing awareness for healthy snacks and meal products are expected to
drive the regional market growth. Advancements in the food and feed industry
are further adding to the growth of flaxseed derivatives market in
Asia-Pacific.
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Segmentation
The global flaxseed derivatives
market has been segmented based on type, category, application, and region.
By type, the global flaxseed
derivatives market has been segregated into flaxseed oil, flaxseed flour, and
others.
The global flaxseed derivatives
market has been classified based on category into organic and conventional.
By application, the global flaxseed
derivatives market is classified as bakery & confectionery, sweet &
savory snacks, pet food, functional food & beverages, and others.
Key Players
Some of the key players in the global
flaxseed derivatives market are AgMotion, Inc. (US), Johnson Seeds Ltd
(Canada), Cargill, Incorporated (US), CanMar Foods Ltd (Canada), Simosis
International (India), Richardson International Limited (Canada), TA Foods Ltd
(Canada), and The Archer Daniels Midland Company (US).
NOTE: Our Team of Researchers are
Studying Covid19 and its Impact on Various Industry Verticals and wherever
required we will be considering Covid19 Footprints for Better Analysis of
Market and Industries. Cordially get in Touch for More Details.
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