North America Flaxseed Market Research Report 2021, Demand, Opportunity, Share, Forecast to 2031 With a CAGR of 4%

snapshot of the market

The North American flaxseed market experienced stable growth and accumulated revenue of $ 1.5 billion in 2021. Revised data from Persistence Market Research's analysis predicted that the market will progress at a modest CAGR of about 4% over the next ten years. The study also suggests that the market is expected to generate $ 2.2 billion in revenue by 2031, offering an incremental opportunity of $ 720 million over the next ten years.

Flaxseed research to guide application

The rise in health awareness and the rise in popularity of nutrient-rich foods have completely changed the outlook for the demand for pumpkin seeds, chia seeds, hemp seeds and flax seeds. These seeds have incredible nutrient density and are rich in many essential minerals and omega 3 fatty acids.

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Thanks to its rich content, these seeds have gained popularity and are in great demand due to the growing trend of a healthy lifestyle. Research on these foods has also increased and therefore more benefits are being reaped.

One such study by Iranian and Australian researchers found the effect of hens fed flaxseed for better egg quality. The team found that the extruded flaxseed had the best result and improved the fatty acid profile, blood factors and antioxidant capacity in the hens. Egg production also naturally increased with increased consumption of extruded flaxseed feed. The study also found that the protein content is higher.

In 2019, researchers from the University of California conducted a similar study, exploring the use of flaxseed feed additives in the diet of dairy cows. This was done to increase the level of long-chain omega-3 fatty acids in milk and possibly improve reproduction. Research has found that it is possible to improve the nutritional value of milk through the use of flaxseed. The application of flaxseed is increasing as research increases, which, in turn, is giving further impetus to the expansion of the market.

Market overview

In this report, the North American market is charted from the point of view of consumption in terms of value and volume. The North American flaxseed market is projected to grow from $ 1.56 billion in 2021 to $ 2.28 billion in 2031, expanding to a CAGR of nearly 4% in revenue over the projected period (2021-2031 ).

Increased health awareness, increased demand for clean labels, and increased popularity and consumer demand for vegan ingredients are expected to drive the growth of North American flaxseed over the forecast period. North American flaxseed market driver

The demand for flaxseed in the food industry is constantly growing and can be attributed to the various health benefits associated with the consumption of flaxseed.

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Some of its benefits include lower cholesterol levels, a lower risk of heart disease, and better digestive health. The growing consumer preference for a healthy lifestyle is further driving the growth of the flaxseed market today.

What factors are limiting the growth of the market? One of the main restrictions on the growth of the flaxseed market is that flaxseeds contain only alpha-linolenic acid (ALA), but do not contain eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), which limits the demand for them.

Although some amount (typically less than 5%) of ALA is converted to EPA, end-use industries prefer to use fish oil as an ingredient to provide the required amount of EPA and DHA in food products. This factor is expected to hold back the growth of the flaxseed market during the forecast period.

Segmentation

In terms of segmentation, the North American flaxseed market is further bifurcated into a typical segment which includes ground (ground) flaxseed, whole flaxseed and flaxseed oil. The food applications segment accounted for 1/5 of the overall market volume share in North America, which is expected to grow to 1/4 by the end of 2031. The segment is expected to expand to the highest CAGR during the forecast period , followed by the animal feed segment in terms of volume. United States and Canada
In terms of volume, the US flaxseed market dominated the general market in the North American region in 2021 and is expected to continue to dominate also during the forecast period between 2021 and 2031, compared to the Canadian seed market. of flax.

In terms of value, the US flaxseed market is projected to increase at a CAGR of 4.2% between 2021 and 2031, while the Canadian market is stagnating over the same period. The price of flaxseed is predicted based on historical price developments and various other factors, including flaxseed production, demand, import and export, and closing stocks.

Canada is the largest producer and exporter of flaxseeds worldwide. Export in Europe is expected to decrease owing to increasing supply from Russia, Ukraine, and Kazakhstan. However, export of flaxseed to Asia Pacific is anticipated to increase significantly over the forecast period. The U.S. mostly imports flaxseed from Canada and exports it to Europe.

Key Market Players

Key players in the North America flaxseed market include AgMotion Inc., Linwoods Health Foods, CanMar Grain Products Ltd., TA Foods Limited, Archer Daniels Midland Company, Stober Farms LLC, Heartland Flax, Shape Foods Inc., Healthy Food Ingredients LLC, Zeghers Seed Inc., and Bioriginal Food & Science Corporation.

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This release was published on openPR.