Chia Seed Market: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017-2027)
The demand for whole chia seeds will dominate the global market owing to the edible nature of chia seeds in whole form, unlike flax seeds
LONDON, Aug. 9, 2017 /PRNewswire/ -- Increasing demand for chia seed as a 'super food' is the reason for the relatively high share in the global market. Chia seed oil is widely used in the pharmaceutical and cosmetic markets and this is anticipated to boost demand for chia seed oil over the forecast period. By form, the whole segment is expected to remain dominant in the global chia seed market throughout the forecast period and is expected to account for a revenue share of close to 60% by the end of 2027. Revenue from the whole segment in the global chia seed market is expected to increase at a relatively high CAGR of 7.2%. The oil segment is expected to account for a revenue share of about 18% by 2027 end. Revenue from the grounded segment in the global chia seed market is expected to increase at a relatively moderate CAGR of 6.5% in terms of value. Due to the fast paced and hectic lifestyle and changing eating patterns of people across the world, a large number of consumers are shifting towards ready-to-eat meals or packaged food products and snacks. However, most of the snacks lack in terms of essential nutrients and dietary fibre and are not ideally a healthy food option. On the other hand, chia seeds are good for health and therefore snacks made using chia seeds are a popular healthy food option available to consumers. This rising popularity of chia seed snacks is expected to fuel revenue growth of the global chia seed market.
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Traditionally, chia seeds are produced all over Latin American countries due to favourable climate in the region. High domestic consumption in the region, along with rising population and economic standards is anticipated to boost the demand for chia seeds and eventually fuel the growth of the global chia seed market throughout the forecasted period.
Demand for protein alternatives along with consumer preference for vegan food products is increasing in Europe. This is due to growing social activities and awareness regarding animal welfare. Chia seeds contain the daily requirement of protein and hence is a best fit for health-conscious consumers. This factor is anticipated to drive revenue growth of the chia seed market in the region.
The Middle East region has a large consumer base for traditional food. Chia seed drinks are known as Tokhme–Sharbati of Persian origin and are consumed all over the Middle East. An increasing demand for traditional beverages and savouries in the region is expected to drive the growth of the chia seed market during the assessment period.
Preference for non-GMO seeds by manufacturers is trending the global chia seed market
GMO chia seeds are antibiotic resistant, have altered nutrient content and are herbicide resistant; whereas, non-GMO seeds have required nutrient content and are non-resistant to herbicide. This causes degradation of crop quality and yield. In order to offer better quality products, manufacturers are shifting their preference from GMO to non-GMO chia seeds and this trend is expected to continue over the forecast period.
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