Flaxseed is one of the most highly nutritious plant-based food products. Its consumption reduces the risk of various diseases such as stroke, heart disease, cancer, and diabetes and is also considered one of the functional food. It is also used as a dietary supplement to treat various medical conditions. These seeds also contain omega-3 fatty acids and antioxidants that destroy the growth of cancer cells and thus help in the prevention of certain types of cancers. Powdered flaxseed is also used across various food products to enhance the taste of the food such as bakery food products such as muffins, cookies, and pancakes. They are also classified as functional food due to their nutritional value.
North America Flaxseed Market is estimated to account for around US$ 285.4 million in terms of value in the year 2022 and it is predicted to grow at a CAGR of 5.4% during the forecast period (2023-2030)
Drivers
Increased Demand from Nutraceuticals and Functional Food Producers to Increase Sales Opportunity for Flaxseed
The authorized health claim that whole and ground flaxseed can lower cholesterol has increased demand for flaxseed in functional foods and nutraceuticals. Since flaxseeds are a good source of lignans as well as ALA, they are also recognized to benefit women's health and prevent cancer. By blocking enzymes involved in hormone metabolism, lignans play a role in cancer prevention by preventing the growth and spread of tumor cells. With the numerous health benefits of flaxseeds, increased demand from functional food and nutraceutical manufacturers producing energy bars and supplements from flaxseeds is creating opportunities for the manufacturers of flaxseeds that allow them to increase their product offerings to different producers. The increased product offering would also help the flaxseed producers to increase their consumer base worldwide.
Market Opportunities
Growth in the food industry in the North America region, where flaxseed is widely used in the production of confectionery food products is projected to propel the market growth. The market growth can also be attributed to the rising spending of the consumer on food products.
Market Restraints
Flaxseed only contains Omega-3 fatty acid that contains alpha-linoleic acid (ALA) and lacks eicosapentaenoic (EPA) and docosahexaenoic acid (DHA). EPA and DHA fatty acids are crucial for various food applications, especially baby food products and this factor is restricting the adoption of flaxseed among manufacturers. This factor is projected to hinder the market growth of the flaxseed.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/north-america-flaxseed-market-3696
Key Takeaways:
On the basis of the application, the animal food segment dominated the North America flaxseed market in 2022 with a 63.6% of market share in terms of value, followed by food and others.
Market Trends
Major Research on Flaxseed Applications Influencing Market Growth
Key manufacturers, in collaboration with numerous public research universities, research centers, and agricultural institutes across the U.S. are actively researching the potential applications of flaxseed, as it is an underutilized crop with plenty of potential benefits. Constant research for increased application of flaxseed in the food industry, as edible oil, pharmaceuticals, and feed industries, is being carried out along with its potential applications in the cosmetic industry.
The Linseed Farm has already introduced cream and soup made from flaxseed oil, as it helps treat eczema, psoriasis, rosacea, acne, and aging skin. Further research for increased application in the cosmetic industry is also being carried out. Along with research for increased applications, research for improving the processing method is being done for utilizing the entire flaxseed.
Regulations
U.S.
Standards for Flaxseed in the U.S.
Under the authority of the USGSA (7 U.S.C. 76), General Insurers Public Sector Association established standards for flaxseed and other grains regarding kind, class, quality, and condition. The standards facilitate flaxseed marketing and define U.S. flaxseed quality in the domestic and global marketplace. The standards define commonly used industry terms; contain basic principles governing the application of standards, such as the type of sample used for a particular quality analysis; the basis of determination; and specify grades and grade requirements.
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
