Flaxseed Derivatives Market | Global Industry Overview And Competitive Analysis Research Report 2023

By Author: MRFR
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Flaxseed Derivatives Market Research Report: Information by Type (Flaxseed Oil, Flaxseed Flour, Others), by Category (Organic, Conventional), by Application (Sweet & Savory Snacks, Functional Food & Beverages, Others), by Region — Global Forecast till 2023

Market Scenario:

Flax is a plant which belongs to the family of Linaceae with seeds known as flaxseed or linseed. There are two basic varieties of flaxseed, namely brown flax and golden flax, where golden flax is also called yellow flax. The golden flaxseed has a nutty-buttery flavor and an attractive golden color which is highly used in culinary preparations for its taste and color. Flaxseed is rich in omega-3 essential fatty acids and fibers among others, due to which preference for flaxseed derivatives are growing among the health-conscious consumers across the globe.

Consumption of flaxseed in regular diet offers several benefits to the overall health. The alpha-linolenic acid (ALA) found in flaxseed, helps in reducing cholesterol. Flaxseed enhances skin and hair health, controls diabetes, and reduces the circulation of C-reactive protein, ...
... thereby, lowering body inflammation. Growing health awareness and the advancements in online retail is boosting the sales of supplements containing flaxseed oil and other derivatives as an ingredient. This demand, in turn, is expected to fuel the global flaxseed derivatives market during the forecast period.

Increasing demand for flaxseed derivatives in culinary preparations for its flavor and high nutritional value is projected to boost the growth of the Flaxseed Derivatives Market during the forecast period from 2020 to 2023.

Key Players:

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).

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 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.

Regions:

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.

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.

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.