Flaxseed Oil Market Report Overview
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The global Flaxseed Oil Market size was 5615.28 million in 2022 and is expected to reach USD 7681.58 million by 2028, exhibiting a CAGR of 5.36% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with Flaxseed Oil Market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
Linseed, often referred to as flax seed, is a great source of nutrients like vitamin B1, dietary fiber, magnesium, zinc, lignans, and important fatty acids. Flax seed is also known as linseed. Flax seeds are best known for their culinary applications and health advantages. Since ancient times, flaxseed oil has been utilised as an edible oil. One of the most essential edible oils in the entire globe has been this one.
The rise in awareness of the health benefits of flax seed, such as assisting with weight loss, promoting systolic and diastolic blood pressure, enhancing hair density and length, etc., is one of the main factors anticipated to propel the growth of the flaxseed oil market during the forecast period. The flaxseed oil market share is expected to augment as a result of the rise in demand for it in both developed and emerging nations, as well as the increased use of it for a variety of purposes in the consumer goods and automotive industries.
COVID-19 Impact: Pandemic to Affect the Market Growth Owing to Sudden Shutdown
During COVID-19, the expansion of the flaxseed oil market suffered substantially. The lockdown and subsequent shutdown had a severe impact on businesses because it forced them to stop running their production facilities. Despite a noticeable disruption in the supply chain, demand for the finished product decreased. In response to the significant increase in COVID-19 instances, the government implemented a number of measures to ensure that everyone in the country was safeguarded.
Latest Trends
"Product Quality to Surge the Market Growth"
One of the most popular low-molecular-weight glycolipids is flaxseed oil, and its potential applications in biotechnology have been intensively researched. Because the fermentation, extraction, and purification processes for these surfactants have significantly improved, many biotechnology-based and specialty chemical producers are expanding their production, marketing, and commercialization of microbial-based flaxseed oil surfactants, particularly rhamnolipid and sophorolipids. As producers create environmentally friendly glycolipids, these types of biosurfactants are now more common on the market.
Flaxseed Oil Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into Bulk Product and Bottled Product amongst which the leading segment is Bulk Product.
- By Application Analysis
Based on application, the market can be divided into Food, Healthcare & Pharmaceutical, Coating, Animal Nutrition, and Other amongst which the leading segment is Food.
Driving Factors
"Consumers Awareness to Augment the Market Growth"
The development of novel production techniques, rising consumer awareness of green surfactants manufactured from flaxseed oil, and rising demand from the biomedical and cosmetic industries are some of the key factors boosting the flaxseed oil market. Another important element influencing market growth is the growing commercialization of flaxseed oil through use in the food, personal care, and oil field industries. These elements are fueling the profitability of the flaxseed oil market growth.
"Cosmetic Sector to Proliferate the Market Growth"
The growing demand from the cosmetics and skincare sectors is one of the key factors fueling the growth of this market. In 2021, the revenue for the personal care and cosmetics sector increased considerably. Successful skincare routines must include low toxicity, skin protection, and surface moisturizing, and emu oil has showed a lot of promise in each of these categories. Flaxseed oil provides vital physical and chemical qualities that are crucial for healthy skin. Two crucial components of plant and animal immune responses, cell membrane integrity and cellular recognition, are preserved by flaxseed oil. It only makes it possible for skin cells to combine to form tissues.
Restraining Factors
"High Cost to Restrain Market Growth"
On the other hand, flaxseed oil's negative effects on children's skin and eyes when used in baby care products and fluctuations in the price of raw materials are just a few more things that are predicted to restrain the growth of the flaxseed oil market in the near future.
Flaxseed Oil Market Regional Insights
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"North America skin Care Standards to Propel Market Growth"
Due to the rising demand for flaxseeds and their derivatives, North America currently controls the majority of the flaxseed oil market. Due to consumer awareness of the numerous health benefits of flax seed oil, including its ability to support the digestive system and possess anti-cancer and anti-obesity qualities, Asia Pacific is predicted to have considerable growth in the flaxseed oil market. Additionally, the rising demand in both developed and emerging nations is projected to fuel the market for flaxseed oil in the upcoming years.
Key Industry Players
"Market Players Focus on New Product Launches to Strengthen Market Position"
Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.
List of Market Players Profiled
- Zonghoo (India)
- Blackmores (Australia)
- Spectrum (U.S.)
- Fueder (U.S.)
- Shape Foods (Canada)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 5615.28 Million in 2022 |
Market Size Value By |
US$ 7681.58 Million by 2028 |
Growth Rate |
CAGR of 5.36% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the flaxseed oil market expected to touch by 2028?
The global flaxseed oil market size is expected to reach USD 7681.58 million by 2028.
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What CAGR is the flaxseed oil market expected to exhibit by 2028?
The flaxseed oil market is expected to exhibit a CAGR of 5.36% by 2028.
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Which are the driving factors of the flaxseed oil market?
The driving factors of the flaxseed oil market are Consumers Awareness and Cosmetic Sector.
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Which are the key players or most dominating companies functioning in the flaxseed oil market?
The dominating companies in the flaxseed oil market are Zonghoo (India), Blackmores (Australia), Spectrum (U.S.), Fueder (U.S.), and Shape Foods (Canada)
