VALLEY COTTAGE, New York, August 1, 2017 /PRNewswire/ --
Future Market Insights (FMI), in its report, projects the global chia seed market to register a healthy 5.5% CAGR, in terms of volume, during the forecast period 2017 to 2027. Global sales of chia seeds will reach nearly 66,000 MT in 2017; by 2027 this number is estimated to surpass 100,000 MT.
In terms of volume, North America will remain the most-lucrative region in the global chia seed market. Sales of chia seeds in this region are expected to reach nearly 50,000 MT by 2027-end. Sales of chia seed in North America and Asia Pacific Excluding Japan (APEJ) are expected to exhibit parallel expansion at 6.1% CAGR through 2027, in terms of volume. In addition Western Europe will continue to be the second-largest market for chia seeds during the forecast period, with sales pegged to surpass 10,000 MT by 2017-end.
Increasing Demand for Organic Food to Drive Growth of Chia Seed Market in North America
Demand for organic food has been witnessing a substantial surge in North America over the past few years. In this region, chia seeds are highly marketed as organic, claiming high nutrient value and labelled as non-GMO. Hectic, fast-paced lifestyle of people, coupled with eating patterns are shifting consumer preferences towards healthy snack options. Chia seed snacks including breakfast bars offer various health benefits, and can be consumed on-the-go. These factors are expected to drive growth of chia seed market in North America.
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However, inadequate regulation across North American countries creates confusion among consumers regarding the origin of chia seed plant, thereby restraining adoption. Moreover, increasing presence of substitutes including flax seeds, pumpkin seeds, sunflower seeds, and hemp seeds are likely to impede demand for chia seeds in North America.
Growing Demand for Functional Food to Propel Growth of Chia Seed Market in APEJ
Increasing demand for functional food in APEJ, coupled with higher number of players introducing products based on functional category, is likely to propel growth of the chia seed market in this region. In addition, rapid digitalisation has resulted into high e-commerce penetration into APEJ countries. Chia seeds have long shelf-life, and can be packed easily as per requirements. These factors are further expected to drive the market growth of chia seed in APEJ. However, factors such as lack of awareness about chia seeds' health benefits, and presence of various competitive substitutes are expected to hamper growth of chia seed market in APEJ.
Key Findings of FMI's Report are as Follows
- In terms of volume, organic chia seeds will remain sought-after in the global market, with sales estimated to expand at 5.8% CAGR through 2027. Sales of organic chia seeds will surpass 50,000 MT in 2017. In contrast, sales of conventional chia seeds will register a sluggish expansion throughout the forecast period.
- Although black chia seed will remain preferred in the market, sales of white chia seed will exhibit fastest expansion through 2027. Sales of black chia seeds are expected to exceed 40,000 MT in 2017. Demand for brown chia seeds will remain sluggish in the market.
- By form, whole chia seeds are expected to retain their dominance in the global chia seed market, with sales pegged to surpass 60,000 MT by 2027-end. In addition, sales of grounded chia seeds will register 5.2% CAGR through 2027.
- Food & Beverages sector will remain the largest end-users of chia seeds in the market. Demand for chia seeds by this sector is expected to reach 76,074.3 MT by 2027-end.
Preview Analysis on Global Chia Seed Market Segmentation By Origin - Organic, Conventional; By Colour - Black, White, Brown; By Form - Whole, Grounded, Oil; By End-Use Application - Food and Beverages (Packed Chia, Nutritional Bars, Bakery and Snacks, Breakfast Cereals, Beverages, Others), Personal Care Products and Cosmetics, Animal Feed and Pet Food, Nutritional and Dietary Supplements: http://www.futuremarketinsights.com/reports/chia-seed-market
Key market players identified in FMI's report include Sesajal SA De CV, Bioglan (PHARM-A-CARE Laboratories Pty. Ltd.), Nutiva Inc., Navitas Naturals, Spectrum Naturals (Hain Celestial Group), Benexia (Functional Products Trading S A.), Chia Bia Slovakia, s.r.o., The Chia Co., Vega Produce LLC., CHOSEN FOODS INC, Mamma Chia, Now Health Group, Inc., Naturkost Übelhör GmbH & Co. KG, AgroBolivia (Negocios Europa Ltd.)
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SOURCE Future Market Insights