Global Flaxseeds Market - Key Drivers and Forecast from Technavio

 01.06.2017 12:27:26

May 30, 2017 02:03 PM Eastern Daylight Time
LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global flaxseeds market to grow to USD 1,947.8 million by 2021, at a CAGR of more than 12% over the forecast period, according to their latest report.

Global flaxseeds market to grow to USD 1,947.8 million by 2021, posting a CAGR of more than 12%.

The research study by Technavio on the global flaxseeds market for 2017-2021 provides a detailed industry analysis based on the product form (ground flaxseeds and whole flaxseeds), end-users (animal food; and food and beverages), and geography (the Americas, EMEA, and APAC).

Flaxseeds are mostly grown in cooler regions like Canada, Russia, and upper Midwestern US. Flaxseeds are used in both whole and ground forms. They are also popular as feed for pets, horses, dairy animals, and poultry. These seeds are highly nutritious and have several health benefits such as they help fight obesity and promote weight loss, improve digestive system, and balance hormones.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global flaxseeds market:

Growing awareness about the health benefits of flaxseeds
Increasing number of vegans and vegetarians
Wide reach through organized retailing
Growing awareness about the health benefits of flaxseeds

"Flaxseeds are highly nutritious seeds that can be used for human as well as in animal consumption. Flaxseeds are the richest source of omega-3 fatty acids, containing more than 50% of linolenic acid and offer numerous health benefits," says Manjunath Reddy, a lead analyst at Technavio for food research.

Flaxseeds also reduce blood pressure and cholesterol and help in preventing cardiovascular diseases, diabetes, asthma, and arthritis. Consumers are becoming more aware of the numerous health benefits obtained by the consumption of flaxseeds, thereby driving its rising adoption.

Increasing number of vegans and vegetarians

A vegan diet is a part of the larger vegan lifestyle, which strongly favors animal rights and a proactive concern for the environment. Consumers embracing a vegan lifestyle make a conscious effort to stay away from products of animal origin, be it food, clothing, or accessories. They opt for healthy substitutes for meat, dairy, and other conventional sources of protein. With a steady rise in individuals who follow a vegan and vegetarian lifestyle, flaxseeds are emerging as a viable alternative to meat and dairy.

Wide reach through organized retailing

Organized retailers have grown worldwide with the increasing popularity of supermarkets, hypermarkets, and specialty stores. Superfoods like flaxseeds are sold primarily by large organized retailers. The supermarkets have established themselves as major distribution channels supplying nutritious and affordable food.

"The growing popularity of supermarkets and other organized retail channels have led to the rise in the sale of flaxseeds, thus driving the revenue generation of the global market," says Manjunath.