Flaxseeds Market Size (2024 - 2029)

Flaxseeds Market Analysis

The Flaxseeds Market size is estimated at USD 0.89 billion in 2024, and is expected to reach USD 1.54 billion by 2029, growing at a CAGR of 11.57% during the forecast period (2024-2029).

• Flax seeds, also known as linseed, are an annual herbaceous crop and gained popularity worldwide in recent years due to health benefits and commercial usage. Flax seeds are mainly used for edible purposes such as food and oil and in various beverages. For instance, in 2022, Scaler Bakery introduced a new flax seed-based product known as Golden Flax Seed Scala Bread. Flax seeds have also been used in textile industries over the past few years. In the global market, flax seeds can be used for crushing, which results in oil and flax meal production. It can also be used in the form of whole seeds, roasted, sprouted, and grounded seeds. The wide usage of flax seeds is one of the major factors boosting its market across the world.
• The rise in plant-based diets and veganism has increased the demand for plant-derived sources of nutrients. Flax seeds are an attractive option for those seeking alternative sources of omega-3 fatty acids, traditionally obtained from fish. This shift has led to a surge in flax seed consumption and its incorporation into various products like milk, smoothies, cereals, and snacks made of flax seeds. In 2022, Malibu Mylk, a California-based non-dairy beverage brand, introduced Flax Milk, produced from whole and organic flax seeds, to the US market. The product is allergen-free and is the best plant-based milk. This product is encouraged for use by the vegan population, thereby aiding the market's growth.
• Furthermore, Kazakhstan, Russia, Canada, China, India, the United Kingdom, and the United States are some of the leading countries in global flax seed production. Furthermore, flax seeds are a cheaper alternative to chia seeds and quinoa seeds for animal feed and industrial purposes, which is increasing global production. As per FAOSTAT, flax or linseed production grew from 3.3 million metric tons in 2021 to 3.9 million metric tons in 2022. Therefore, the increasing usage of flax seeds due to their health benefits and growing usage for industrial purposes driving global production are some of the factors that are anticipated to drive the flax seed market.

Flaxseeds Industry Segmentation

Flax seeds are fiber crops obtained from the flax or linseed plant. The flax seeds market is segmented by geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The report includes the production analysis (volume), consumption analysis (value and volume), export analysis (value and volume), import analysis (value and volume), and price trend analysis. The report also offers the market size and forecasts for value (USD) and volume (metric tons) for all the above segments.