Flax Protein Market: Introduction
The latest market report by PMR on the global flax protein market evaluates the opportunities and current market scenario, and provides insights and updates about the corresponding segments involved in the global flax protein market during the forecast period 2018-2027.
The global flax protein market report further exhibits the estimated data for 2018, and forecast data up to 2027 in the terms of value (US$ thousand) and volume (Kg). In terms of value, the global flax protein market is expected to grow at a healthy CAGR of 5.7% over the forecast period.
The present study exhibits the trends and market dynamics of the flax protein market in five major regions - North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. The report also includes the study of the current issues with consumers, and various future opportunities for the flax protein market.
Flax Protein Market: Report Description
The report explores the global flax protein market for the period 2018–2027. The primary objective of the global flax protein market report is to provide insights into the opportunities in the market that are consistently supporting the transformation of global businesses that are associated with flax protein. It is very important to consider that, in an ever wavering economy, we provide the estimated (Y-o-Y) year-on-year growth rate in addition to the compound annual growth rate (CAGR) for the overall forecast, to better understand the analysis and evaluation of the global flax protein market, and to discover equitable opportunities.
Yet another key feature of this report is that, the estimation of the global flax protein market and the corresponding revenue forecast are carried out in terms of absolute dollar opportunity. This is usually not prioritized while forecasting overall market numbers. Absolute dollar opportunity analysis is very essential in evaluating the degree of opportunity that a provider can observe to execute, as well as to contrast the potential resources from a sales perspective in the global flax protein market.
The global flax protein market report starts with an elaborate executive summary, market definition of various segmentations that are included, and their respective shares in the market. The report further incorporates the major macro and micro-economic factors that have an effect on the growth of the flax protein market. The report also highlights various market dynamics, which includes the drivers and restraints in the global flax protein market. Current opportunities as well as on-going trends in the flax protein market are also discussed in this report. The report further underlines the study of the present issues with industrial processing, and opportunities for the flax protein market. It also encompasses a supply chain analysis, which provides a structural view of overall profitability from the manufacturer to the end user in the flax protein market.
To provide users with a clear view of the global flax protein market, we have exhibited a competitive analysis of key market players and their strategic expansions. The competitive dashboard presents a detailed comparison of flax protein manufacturers on valuable parameters such as key product offerings, total revenue, key developments, and key strategies. The study intensifies the global flax protein market attractiveness analysis by nature, source, end use, distribution channel, and region.
To evaluate the overall market size of flax protein, the report considers various fundamental aspects based on secondary research. Furthermore, it emphasizes on quantitative evaluation such as market shares by nature, source, end use, distribution channel, and region, and other qualitative data from primary respondents, which have been consolidated to arrive at clear and accurate market estimations.
The market size was benchmarked taking into consideration global flax consumption. Global flax oil consumption was deduced by splitting global flax consumption data obtained from sources such as FAO, ITC, and research publications. The average use of flax oil to obtain flax protein was deducted from company reports and research publications, and was used to triangulate the process. The forecast presented in the flax protein market report arrives at the total revenue being generated, and expected revenue contribution in the future by the global flax protein market.
Flax Protein Market: Competition Analysis
Detailed profiles of companies that manufacture flax protein are included in report to analyze their developmental strategies, key product offerings, and recent developments, as they have a significant role in the global Clearspring Ltd, THINKITDRINKIT, Austrade Inc., Natunola, Leader Foods OY, Glanbia plc, Omega Protein Corporation, Organica Vita Ltd and others.
Flax Protein Market: Segmentation
The subsequent sections analyze the global flax protein market on the basis of nature, source, end use, distribution channel, and region, and presents a forecast for the period 2018–2027. The market is segmented as follows -
Flax Protein by Nature
Flax Protein by Source
Flax Protein by End Use
Flax Protein by Distribution Channel
Flax Protein by Region
PMR Research Methodology
PMR is committed to providing unbiased market research solutions to its clients. PMR follows a robust methodology for deducing the data that is included in this report. A demand-side approach is followed to estimate the sales of target products which includes the analysis of country level flaxseed production, the area under flaxseed seed cultivation, per hectare yield, overall production outlook and end-use of flaxseed followed by in-depth supply-side assessment of which includes key market insights on sales of flax protein by key market players, key trends, and events over a predefined period.
The methodology is based on the use of standard market structures, methods, and definitions that are based on inputs from local sources in over 5 regions, i.e. Europe, Asia Pacific, the Middle East and Africa, Latin America, and North America, which PMR considers for segmenting the global market. Statistics, characteristics, and variances are collected at a country level, aggregated at the regional level, and then synthesized at a worldwide level to create global market measurements. Our main sources of research include -
According to WHO, changing lifestyles and dietary habits have contributed to the increased risk of the development of various health issues such as coronary heart disease, diabetes, and obesity among others. The role of functional food has thus become important. There is increasing cost of healthcare, increase in life expectancy, and the desire to live a healthy life. Flax, also known as linseed, is a crop grown for fiber and seeds, and is grown in the colder regions of the world. Flaxseed is used as a source of oil, as a demulcent and emollient, and is popularly used as a dietary supplement.
Flaxseed consists of around 20-25% of proteins. Flax protein is extracted from flaxseed, and is used in the manufacturing of various food and beverage products as well as dietary and sports supplements. There is a continuous rise in the demand for flax protein as a functional food ingredient from the food and beverage, supplement, and personal care sectors.
Market Insights & Outlook
In terms of volume, the conventional segment of flax protein shows its dominance over rest of the segments, owing to the affordable prices and as well as easy availability of conventional flax protein and products in various regions of the world. The increasing preference for organic products from developed as well as developing countries contributes to the rapid growth of the organic segment of the global flax protein market. This can be attributed to the increased spending capacity of people, as well as rise in disposable income and the higher prices of organic flax protein.
By source, the global flax protein market can be segmented as brown flaxseed and golden flaxseed. Both, brown and golden flaxseeds are equally nutritious. However, due to easier availability, the brown flaxseed segment is expected to have a larger market share, both, in terms of value and volume.
Demand for Vegan & High-protein Ingredients Driving Demand Growth of Flax Protein
Along with cumulating health consciousness, consumer sentiments are also oriented towards consuming food that is guilt-free in order to protect the environment. Vegan food products have gained considerable traction in the market, and hence, these consumers are opting for more plant-based products, such as flax protein. Hence, flax protein satiate multiple consumer demands, such as vegan, and high-protein food products. In recent times, flax protein is gaining considerable traction in the market, especially in the health food products.
Evolving Consumer Lifestyle & Increasing Availability of Protein-fortified Products Assisting Growth of Flax Protein Market
An increase in GDP as well as disposable, globally, both, in developed and developing countries, has resulted an increase demand for functional food products such as flax protein being viewed as a relatively affordable product. Rising awareness about the importance of protein in one’s diet has led to the popularity of protein fortification and standardization, which has proven to be one of the most influential drivers of the global flax protein market.
Protein ingredients have become an essential part of energy and sport nutrition products. Plant protein products such as flax protein are gaining popularity, and are readily included in sports nutrition products as they are perceived to be additive-free and natural. Flax protein is gaining importance in sports nutrition, since it has almost the same amino acids as in soy and dairy protein.
Growing Consumer Spending on Health Food Products is Upholding Demand for Flax Protein
There are growing incidences of lifestyle-related diseases such as obesity, diabetes, and various heart-related diseases. All these conditions come as a result of the unhealthy lifestyles of consumers, and are considered curable/preventable with certain lifestyle changes and better diets.
Rising awareness regarding these facts is resulting in the increased global demand for enriched products such as flax protein. The growing preference of consumers for guilt-free products has increased the number of people opting for natural, organic, and vegan products. Vegan products have gained considerable traction in the market. Consumers are opting for more plant-based products such as flax protein. Flax protein satiates the consumer for gluten-free, vegan, high-protein food, and hence, is high on demand. The growing demand for high protein and vegan products is driving the growth of the global flax protein market. The growing popularity of protein blends such as dairy- and plant-based protein has also proven to be a positive factor for the growth of the global flax protein market.
Low Awareness Regarding Non-soy Plant Proteins Still Prevails
Less awareness about non-soy plant proteins, such as flax protein, in several parts of the world, as well as increasing allergies due to the over-consumption of protein are some of the factors that are hindering the growth of the global flax protein market.
Global Flax Protein Market: Regional Outlook
The global flax protein market can be regionally segmented as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. North America, closely followed by Europe, currently has the largest market value share, owing to the high demand for fortified food products and functional food.
However, the market in APAC is expected to grow at a rapid pace, exhibiting a healthy CAGR of 8.1%. The rapid growth of flax protein market in APAC can be attributed to the growing demand for functional and fortified food products, as well as the booming sports and energy nutrition sector in prime countries such as China, India, and Japan.