Flax Market – Flax Production by Country
Flax, also known as linseed, is a versatile crop used in a variety of industries. The global flax market is expected to grow steadily over the next few years, driven by factors such as rising demand for flaxseed oil and growing awareness of flaxseed health benefits.
In this article, we will provide a comprehensive overview of the flax market, including its key players, market size and growth prospects, and major trends and drivers.
Market Size and Growth Prospects
According to a recent report by Mordor Intelligence, the global flax market was valued at US$906.6 million in 2020 and is expected to reach US$1,339.5 million by 2026, growing at a CAGR of 6.5% during the forecast period.
The growth of the flax market can be attributed to various factors, including increasing demand for flaxseed oil in the food and beverage industry, rising health consciousness among consumers, and the growing use of flax fiber in the textile industry.
Key Players in the Flax Market
The global flax market is highly fragmented, with a large number of players operating in the industry. Some of the key players in the flax market include:
- Archer Daniels Midland Company
- Cargill, Inc.
- CHS Inc.
- AgMotion Speciality Grains
- Linwoods Health Foods
- Bioriginal Food & Science Corp.
- CanMar Grain Products Ltd.
- Stokke Seeds
- Keystone Flax LLC
- AgFusion Inc.Major Trends and Drivers
Increasing demand for flaxseed oil
Flaxseed oil is rich in omega-3 fatty acids, which are essential for good health. As a result, there has been growing demand for flaxseed oil in the food and beverage industry, particularly in the functional food segment. Flaxseed oil is also used in the cosmetic industry as a natural moisturizer and skin conditioner.
Growing awareness about the health benefits of flax seeds
Flaxseeds are a rich source of fiber, lignans and alpha-linolenic acid (ALA), which have been linked to numerous health benefits such as:reducing the risk of heart disease and certain types of cancer. As a result, there has been growing awareness about the health benefits of flax seeds among consumers, which is driving the demand for flax products.
Increasing use of flax fiber in the textile industry
Flax fiber is a natural and sustainable material that is increasingly being used in the textile industry as an alternative to synthetic fibers. Flax fibers are strong, lightweight, and have a high absorbency rate, making them ideal for use in clothing, bedding, and other textile products.
Favorable government policies
Many governments around the world are implementing favorable policies to promote the use of natural and sustainable materials in various industries, including the food and beverage and textile industries. These policies are expected to drive the demand for flax products in the coming years.
Conclusion
The global flax market is expected to grow steadily over the next few years, driven by factors such as increasing demand for flaxseed oil and growing awareness of the health benefits of flaxseed.The market is highly fragmented, with a large number of players operating in the industry.
However, key players such as Archer Daniels Midland Company, Cargill, Inc., and CHS Inc. are expected to maintain their dominance in the market.
Overall, the future looks bright for the flax market, as consumers continue to demand natural and sustainable products in various industries. With the right investments in research and development
