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North america flaxseed market | Coherent Market Insights

Read here the latest updates on the u201cNorth america flaxseed marketu201d published by CMI team

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North america flaxseed market | Coherent Market Insights

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ Covid-19 Impact Tracker

  2. NORTH AMERICA FLAXSEED MARKET ANALYSIS • North America Flaxseed Market, By Product Type (Milled (Ground) Flaxseed, Whole Flaxseed, Flaxseed Oil), By Application (Food (Bakery products & Cereals, Energy Bars, Flaxseed Meal Powder, Supplements, Flour), Animal Food, Others (Cosmetics, linen, paint, varnish, chemical applications, resins, inks)), and By Countries (U.S., Canada) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027 • The North America flaxseed market is projected to reach around US$ 355.7 million by the end of 2027, in terms of revenue, growing at CAGR of 3.6% during the forecast period (2019-2027).

  3. Drivers • Flaxseed is a rich source of Omega-3 fatty acids is a major factor fueling the demand for flaxseed thus propelling the market growth. Demand for omega-3 fatty acids among consumers has increased significantly because of its consumption reduce the risk of various chronic diseases and also regulate the cholesterol level and also improve the flow of blood in the body. Therefore, the aforementioned advantage is projected to accelerate the market growth of flaxseed.

  4. The rising production of flaxseed is expected to stimulate market growth over the forecast period. In 2019, oats, peas, barley, lentils and flaxseed, in Saskatchewan's increased their seeded crop area, in acres, by 27.8%, 20.6%, 1.3%, and 0.8% respectively. There are approximately 11.6 million acres of canola planted in Saskatchewan. • On the basis of the country, U.S. dominated the North America flaxseed market in 2018, accounting for 77.7% share in terms of value, followed by Canada.

  5. Figure 1. North America Flaxseed Market, Revenue Share (%), By Region, 2018

  6. Market Restraints • The negative impact caused by GMO flaxseed has reduced the trade of flaxseed to Europe and Japan and this factor is expected to hinder the market growth. High consumption of GMO flaxseed is likely to increase the bowel movement in a day and it may also lead to gastrointestinal side-effects such as gas, bloating, and abdominal pain. This is expected to hinder the market growth of flaxseed.

  7. Lack of adequate distribution infrastructure in Canada is impacting the growth of the North America flaxseed market. Due to this suppliers of flaxseed are unable to deliver flaxseed to the export market as per demand. For instance, in February 2015, Archer Daniels Midland Company imported flaxseed from Kazakhstan its plant in Minnesota, instead of importing from Canada and the due to Canada’s weak railway network

  8. Market Opportunities • Rising usage of flaxseed in poultry feed to develop omega-3 rich eggs is expected to provide enormous growth opportunity to the market of flaxseed. Poultry is one of the largest meat industries in North America, hence rising demand for omega-rich source eggs among consumers is expected to fuel the growth of North America flaxseed market over the forecast timeframe.

  9. Growing demand for organic flaxseed is increasing in North America due to rising health-conscious consumers in the region. This is expected to potential growth opportunities to the producers of organic flaxseed to boost their revenue in the region. Therefore, the growing demand for organic flaxseed is projected to fuel market growth over the forecast period. 

  10. Figure 2. North America Flaxseed Market– Opportunity Analysis

  11. Market Trends • The rising trend of using flaxseed as an anti-irritation ingredient in the cosmetics industry is expected to augment the growth of the North America flaxseed market. Flaxseed oil is a widely used production of creams and gels for moisturizing and smoothening the skin. Flaxseed is a key ingredient that reduces skin irritation. Rising demand for safe and high-quality of flaxseed is expected to augment the market growth over the forecast period.

  12. The rising trend of flaxseed in the dietary supplement is expected to foster market growth over the forecast timeframe. In September 2016, Archer Daniels Midland Co. introduced Onavita, a new, fully refined, non-GMO flaxseed oil that provides a cost-effective solution for customers looking to add an on-trend, heart-healthy ingredient to their latest food innovations. This is expected to stimulate market growth.

  13. Figure 3. North America Flaxseed Market, Revenue Share (%), By Application, in 2018

  14. Regulations • GRAS Status for Flax in the U.S • Food manufacturers, particularly large companies, are more inclined to incorporate “new” ingredients into their products that have achieved Generally Recognized as Safe (GRAS) by the U.S. Food and Drug Administration (FDA). GRAS indicates that the ingredient in question is deemed to be free of harmful toxins or unsafe side effects. In 2009, the Flax Council of Canada received a “no objection” letter from the FDA providing whole and milled flax seed GRAS status60 for use in foods up to 12%.

  15. Competitive Section: • Key players operating in the North America flaxseed market are 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

  16. Few Recent Developments • AgMotion Inc. • Key Developments: • In February 2016, AgMotion Specialty Grains – a division of U.S. Commodities LLC, announced plans to showcase its product offerings at the Natural Products Expo East 2016, to be held at Baltimore, U.S., in September 2016 • In February 2015, AgMotion Inc. secured a US$ 45 million asset-based revolving credit facility from U.S. Bank – one of the country’s fastest-growing asset-based lender – to expand its operations globally.

  17. About Us: • Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  18. Contact Us: Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

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