Functional Food Industry Boom: Chia, Flax and Quinoa Seeds Markets Witnessing Double Digit Growth

Jun 09, 2016, 08:30 ET from Mordor Intelligence

HYDERABAD, India, June 9, 2016 /PRNewswire/ --

Mordor Intelligence announces the release of their reports on the global seed markets. These reports analyze the market dynamics along with country/region-specific insights into the study market. The reports contain extensively researched competitive landscape of the import/export companies across the globe and government regulations pertaining to the production and consumption in different regions.

The popularity of ancient grains such as chia, flax and quinoa have increased substantially over the last decade. These seeds are gluten-free in nature and rich in protein, omega-3 fatty acids, antioxidants and fibers. It has been medically proven that the consumption of these seeds reduces the chances of incurring chronic diseases such as cancer, diabetes and several other cardiovascular diseases. Being a functional food ingredient, experiencing massive demand from industries like food & beverages and pet food, makes it imperative to study the business landscape of these markets.

The reports currently available in this series are Global Chia Seeds Market - Growth, Trends and Forecasts (2016-2021), Global Flaxseeds Market - Growth, Trends and Forecasts (2016 - 2021) and Global Quinoa Seeds Market - Forecasts and Trends (2016 - 2021). The study provides trade-related information including the volume and value of import and export along with the production and consumption pattern.

As per the 2015 figures, the global market values of chia, flax and quinoa seeds were USD 194.22 million, USD 561.97 million and USD 248.54 million, respectively. During the forecast period 2015-2020, the market for all three grains is projected to witness a CAGR of more than 20%. Among the three, chia seeds are anticipated to witness the fastest growth at a CAGR of 46.26%.

The report identifies the increasing health-consciousness among consumers and the huge demand from food & beverages and pet food industries as the major factors driving the market growth. The price sensitivity among consumers, their preference towards foods containing omega- 3 fatty acids of animal origin over plant origin and fragmented supply chain are the factors that impede the market growth.  

North America is the leading market globally, followed by Asia-Pacific and Europe. The huge market in this region is attributed to the improved consumer awareness about the health benefits offered by foods with chia, flax and quinoa ingredients. North America witnessed the launch of a large selection of food & beverages (with chia, flax and quinoa ingredients) in 2014.

The study market can be broadly segmented based on the type of seed, into organic and inorganic. Currently, the market is dominated by the inorganic seed varieties; however, in the coming years, the demand for organic seeds is expected to increase globally. An emerging demand for organic seed varieties has been witnessed across the globe with importers favoring this over inorganic seeds varieties.

North America accounts for the largest consumption of certified organic flaxseeds globally; the demand in the region has surpassed the local production. The current premium for golden flaxseeds in comparison to conventional brown flaxseeds is over 300%.

Some of the major players profiled in these reports include:

Chia Seeds - Benexia (Chile), Chiatrition Chia Seeds (Australia), Glanbia Nutritionals (US), Naturkost Übelhör (Germany/Mexico), Naturya, Original Chia (Denmark), and US Chia

Flax Seeds - Archer Daniels Midland Company, Bioriginal Food & Science Corp., Optimum Nutrition and Natural Brands, Pharmavite, and Sundown,

Quinoa Seeds - Ancient Harvest, Andean Valley S.A., City Srl, Comrural XXI Srl, Northern Quinoa Corp., Quinoa Foods Company, Quinoabol, Irupana Andean Organic Foods and Quinoa Sure Sociedad Industrial Molinera, and The British Quinoa Company

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