POPPY SEEDS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
The Global Poppy Seeds Market is estimated to be valued at USD 322.6 Mn in 2024 and is expected to reach USD 473.5 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.63% from 2024 to 2031. Poppy seeds have been used globally for various culinary and traditional medicinal purposes for centuries. Poppy seeds are seed harvests from the opium poppy (Papaver somniferous) and possess a sweet, nutty flavor, and subtle flavor. The global demand for poppy seeds is increasing due to the growing food processing industry where poppy seeds are used popularly in baked goods, salad dressings, health drinks, etc. Poppy seeds are a rich source of various nutrients including fats, proteins, fiber, calcium, iron, and vitamins. Moreover, poppy seeds are known to possess anti-inflammatory properties that are beneficial for joint and muscle pain. With increasing health consciousness among consumers, the demand for nutritious poppy seeds is expected to rise significantly over the forecast period.
Market Dynamics
The global poppy seeds market is driven by the growing food processing industry where poppy seeds are used widely in various food applications due to their unique flavor profile. The increasing demand for nutritious foods from health-conscious consumers is also fueling the market growth. Moreover, rising awareness about the medicinal benefits of poppy seeds in reducing inflammation and joint pain is supporting the market expansion. However, fluctuations in poppy cultivation are expected to restrain market growth. Also, stringent import and export regulations of poppy seeds between countries due to narcotic substance content may challenge market players. Emerging application of poppy seeds in cosmetic products due to skin moisturizing properties presents lucrative opportunities for market participants over the forecast period.
Key Features of the Study
- This report provides in-depth analysis of the global poppy seeds market, and provides market size (USD Mn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global poppy seeds market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Olam International, A.P. Moller-Maersk, The Spice House, KSP Spices, McCormick & Company, Inc., T. Hasegawa Co., Ltd., A. J. Walter Aviation Ltd., Starwest Botanicals, Inc., Frontier Co-op, Badia Spices, Spice Islands, and S&B Foods Inc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global poppy seeds market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global poppy seeds market
Market Segmentation
Market Segmentation
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