According
to the latest market report published by Persistence Market Research,
titled “North America Market Study on Flaxseed: U.S. and Canada
Industry Analysis and Forecast 2016 - 2022; Impelled By Increasing
Applications of Flaxseed-based Food products,” the North America
flaxseed market was valued at US$ 250.6 Mn in 2015 and is anticipated
to expand at a CAGR of 2.9% from 2016 to 2022, to account for US$
308.4 Mn by 2022.
Currently,
the North America flaxseed
market is mainly driven by factors such as growing consumer
awareness about the health benefits of flaxseed, increasing demand
for clean label and vegan ingredients, along with increasing
applications of flaxseed in various food applications. However,
factors such as poor distribution channel in Canada, coupled with
decreasing demand from the European region, are some of the major
factors expected to restrain the growth of the North America flaxseed
market during the forecast period.
The
North America flaxseed market is anticipated to expand at a CAGR of
2.9% in terms of revenue from 2016 to 2022, to account for US$ 308.4
Mn by 2022.
The
North America flaxseed market is segmented on the basis of a country
into the U.S. and Canada. The U.S. market for flaxseed is expected
to be the highest contributor to the overall North America market in
terms of value share, followed by Canada, by 2015 end. The GCC market
is expected to be the fastest growing market over the forecast period
(2016-2022). Growth of the U.S. flaxseed market is primarily
attributed to the large number of end-user companies for various
applications of flaxseed in the food segment. Moreover, rise in the
demand of omega-3 fatty acids is also expected to support growth of
the U.S. flaxseed market over the forecast period. The U.S. market
for flaxseed is expected to expand at a CAGR of 3.3% in terms of
value over the forecast period (2016-2022). The Canada market for
flaxseed is expected to witness moderate growth over the forecast
period, accounting for 24.9% value share of the overall market in
2015, and is expected to register a moderate CAGR of 1.5% in terms of
value over the forecast period (2016-2022). An increasing number of
applications of flaxseed in the food segment, coupled with eggs with
high content of omega-3 fatty acids is the major factor expected to
drive growth of the flaxseed market in Canada.
Download
exclusive Sample of this report:
https://www.persistencemarketresearch.com/samples/10517
The
report provides detailed information about various market trends and
offers analysis and insights into the potential of the flaxseed
market in the North America region. Furthermore, the infant food
market is segmented on the basis of type into milled (ground)
flaxseed, whole flaxseed, and flaxseed oil.
The
starting milled (ground) flaxseed segment is expected to be the
highest contributor to the North America flaxseed market in terms of
value share, followed by the flaxseed oil segment by 2016 end. The
milled (ground) flaxseed segment is expected to be the
fastest-growing segment of the overall market in the region over the
forecast period (2016-2022). The segment is expected to expand at a
CAGR of 3.1% over the forecast period in terms of revenue. The whole
flaxseed segment is expected to witness moderate growth over the
forecast period. The segment is expected to register a moderate CAGR
of 2.7% in terms of value over the forecast period (2016-2022).
Key
players in the North America flaxseed market include 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.
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