Seed Markets Growth
Mordor Intelligence, a global market research and consulting firm, has announced the release of its reports on the global seed markets. These reports analyze the market dynamics along with country/region-specific insights into the study market. The reports contain extensively researched competitive landscape of the import/export companies across the globe and government regulations pertaining to the production and consumption in different regions.
The popularity of ancient grains such as chia, flax, and quinoa have increased substantially over the last decade. These seeds are gluten-free in nature and rich in protein, omega-3 fatty acids, antioxidants, and fibers. Being a functional food ingredient, experiencing massive demand from industries like food & beverages, makes it imperative to study the business landscape of these markets.
As per the 2015 figures, the global market values of chia, flax, and quinoa seeds were USD 194.22 million, USD 561.97 million, and USD 248.54 million, respectively. During the forecast period 2015-2020, the market for all three grains is projected to witness a CAGR of more than 20%. Among the three, chia seeds are anticipated to witness the fastest growth at a CAGR of 46.26%.
The report identifies the increasing health-consciousness among consumers and the huge demand from food & beverages as the major factors driving the market growth. The price sensitivity among consumers, their preference towards foods containing omega- 3 fatty acids of animal origin over plant origin, and fragmented supply chain are the factors that impede the market growth.
North America is the leading market globally, followed by Asia-Pacific and Europe. The huge market in this region is attributed to the improved consumer awareness about the health benefits offered by foods with chia, flax, and quinoa ingredients. North America witnessed the launch of a large selection of food & beverages (with chia, flax, and quinoa ingredients) in 2014.
North America accounts for the largest consumption of certified organic flaxseeds globally; the demand in the region has surpassed the local production. The current premium for golden flaxseeds in comparison to conventional brown flaxseeds is over 300%.