Flax Protein Market
Flax Protein Market - By Nature, By Source, By End-Use , By Distribution Channel & Global Region - Market Size, Trends, Opportunity, Forecast 2020-2025Request Sample Request Discount
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Flax, also known as linseed, is a crop grown for fiber and seeds, and it’s production takes place in the colder regions of the world. It is used as source of oil, as an emollient, and demulcent, but popularly used as a dietary supplement. Flax protein is extracted from flaxseed. Flaxseed has a protein content of 20-25% and is used in the manufacturing of various food and beverage products as well as dietary and sports supplements. It has been seen that there is a continuous rise in use of flax protein as a functional food ingredient from the food and beverage, supplement, personal care and supplement sectors.
According to WHO, changing lifestyles and dietary habits have contributed to the increased risk of the development health issues like obesity, cancer and many more. Flax seeds contain highly nutritious contents that help fight against those aforementioned diseases and maintain a good digestive system and a balanced hormone. It is still in developing phase but a steady growth in this sector is expected in the western developed regions due to ever growing application of protein ingredients across a wide range of segments in this industry including nutraceutical industry. In developing countries, rising disposable income among the middle classes, growing demand of high-quality food ingredients-based foods and rising demand for ready to eat products are some of the facts that would fuel the growth in the market revenue of flax seed protein market.
In 2019 net market value of flax protein is estimated to be around US$ 49 Mn, which is predicted to grow at a CAGR of over 5.5% from 2020 to 2025. By 2025, it is projected that APAC could hold a value share of 26.9% in the global flax protein market, this is due to the increasing usage of flax protein in the sports and health industry.
By source, the global flax protein market is divided into two parts-brown flaxseeds and golden flaxseeds. Both, brown and golden flaxseeds are equally nutritious. However, due to easy availability of the brown flaxseeds it has shown a larger market share than the golden flaxseeds, both, in terms of value and volume.
Along with the growing health consciousness, the customer sentiments also play a role in consuming guilt-free food to save the environment. Due to the following facts vegan food products have gained considerable traction in the food market, and hence, this has led to the use of more plant-based products by the consumers, like the flax protein.
The rise in GDP and disposable income, both in developed and developing countries, has resulted in the increase demand of flax protein, which is being viewed as a very affordable nutritious product that can be added in everybody’s daily diet. Moreover, the spreading awareness about the importance of rich protein diet has led to the popularity of protein fortification and standardization, which has turned out to be one of the most influential drivers of the flax protein market.
In today’s world protein ingredients have become an essential part of energy and sport supplements. Plant protein products such as flax protein have been gaining rapid popularity and are readily included in the sports dietary as they are considered additive-free and natural.
Hence, flax protein sate multiple consumer demands, such as vegan, and high-protein food products. And consumers finds it easy and healthy to consume which has given fuel to the flax-protein market which has eventually led to the traction of the market in the health food product sector.
Still, due to the lack of awareness about the non-soy plant proteins, such as flax protein, in several parts of the developing countries and even in some parts of developed countries, this is stopping the market from growing more. Moreover, the excess consumption of protein causes allergies which has also been a factor that is hindering the growth of global flax protein market.
Flax Protein: Market Segmentation
· Brown Flaxseed
· Golden Flaxseed
· Food Processing
o Bakery & Confectionery
o Meat Alternatives
o Functional Foods
o Dairy Replacements
o Infant Foods
o Other Food Applications
· Animal Feed
o Pet Food
· Sports Nutrition
· Infant Nutrition
· Personal Care Products
· Direct Sales
· Indirect Sales
o Departmental Stores
o Specialty Stores
o Online Stores
o Other Retail Formats
North America has been among the leading consumers of flax seed protein across the world. The demand of flax protein in the U.S and Canada has been growing at a significant rate since the last few years and will result in the ever-growing market of flax seed protein in the region. In Europe, U.K., Germany, Russia, France and Italy has been seen capturing the highest market share of flax seed protein. The increasing trend of consuming vegan food and rising population concerned about the environment would boost the flax seed protein market in the region.
On the other hand, the Asia-Pacific region captures relatively lower market share compared to North America and Europe, but it is growing at a faster CAGR due to the large consumer base rising demand in developing countries such as China, India, Thailand, etc. Whereas the market of flax seed protein in South America and Africa captures very low share because of low awareness about the flax seed protein-based products and costly extraction process. However, the increase in the research industry to develop high-quality and affordable flax seed protein products would boost the global market growth of the flax protein.
Global Flax Protein Market: Key Players
Some of the key market actors engaged in the production and sales of flax protein products are
- Glanbia plc
- Clearspring Ltd.
- Austrade Inc.
- Leader Foods OY
- All Organic Treasures GmbH
- Omega Protein Corporation
- Organica Vita Ltd
- Quadra Chemicals Ltd.
- Other prominent players
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