chia-seed-market-to-grow-by-6.8%-cagr-as-consumption-of-superfoods-soars-worldwide:-fmi

Chia Seed Market to Grow by 6.8% CAGR as Consumption of Superfoods Soars Worldwide: FMI

 

As per a recent survey by FMI, the global chia seed market is projected to total US$ 194.1 Mn in 2021. Growing awareness regarding benefits of chia seeds and increasing availability in supermarkets and convenience stores is paving the way for growth in the market.

Chia seeds are loaded with omega-3 fatty acids, antioxidants, polyphenols, minerals, and fiber. As consumption of these seeds improves heart health, manages blood sugar levels, and supports bone health, they are increasingly being consumed in fruit bowls, frozen yogurt, salads, and breakfast cereal among others as superfoods.

Hence, increasing demand for superfoods to meet the nutritional requirements of consumers is estimated to accelerate the sales in the coming years. In response to this, the chia seeds market is poised to grow at a CAGR of 6.8% during the forecast period 2021-2031.

With rising trend of veganism and growing emphasis on health lifestyle, individuals across the world are extensively looking for food products with natural ingredients that are loaded with nutrients such as chia seeds, which is in turn, estimated to drive the market.

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In addition, increasing applications of chia seeds as a functional ingredient across the personal care sector, owing to its benefits such as repairing the skin barrier and improved skin texture is expected to drive the sales.

Against this backdrop, sales in the global chia seeds market are expected to register growth at 5.5% year-over-year growth in 2021.

On the basis of applications, the personal care & cosmetics industry is estimated to account for a significant share in the market between 2021 and 2031. Increasing use of chia seeds in the production of lotions, serums, and creams is favoring the growth in the segment.

“Key players are emphasizing on launching novel variants of chia seeds such as chia oils, milk, gels to meet the surging demand for natural ingredients across nutritional & dietary sector. This is expected to accelerate the growth in the market,” says a FMI analyst.

Key Takeaways from Chia Seed Market Study

  • North America market is forecast to expand at a CAGR of 6.7% through 2031, owing to increasing demand for superfoods in the U.S.
  • Sales of chia seeds in Europe are estimated to rise at 6.10% CAGR driven by rising application across the food & beverages industry in Germany and the U.K.
  • China is anticipated to account for the largest share in the East Asia market, driven by the surging demand for organic and natural ingredients across packaged foods sector.
  • India is forecast to emerge as a highly attractive market in South Asia, owing to the rising awareness regarding the benefits of chia seeds among the population.
  • In terms of color, the black chia seeds segment is projected to hold the maximum share, on the back of increasing use in a variety of dishes ranging from desserts to bread.

Key Drivers

  • Increasing use of chia seeds in the production of nutrition bars, energy drinks, and other dietary supplements is propelling the demand across the nutritional and dietary sector.
  • Surging applications of whole chia seeds as a thickening agent in cake batters and smoothies is fueling the sales across the whole segment.

Key Restraints

  • High cost of organic chia seeds compared to conventional ones is hampering the sales across the organic segment.
  • Adverse effects associated with the consumption of chia seeds such as diarrhea, vomiting, high blood pressure, and hives are hindering the demand in the market.

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Competitive Landscape

As per FMI, top five companies in the global chia seed market are expected to account for around 40% to 60% of the total sales in 2021.

Leading companies are aiming at launching novel products and variants to expand its product portfolio. Some of the players are focusing on engaging in strategic collaborations, agreements, merger, and acquisition to increase their production capacity. For instance,

  • In February 2020, Mamma Chia, a leading food ingredients supplier, announced expanding its plant-based milk portfolio by launching Mamma Chia Organic Chiamilk. It is a dairy-free beverage that contains omega-3 fatty acids, more calcium, and zero sugar than a glass of milk. The Chiamilk is available in unsweetened vanilla and original variants, containing 60-70 calories per serving.
  • In September 2019, Nutiva, a U.S.-based company, announced launching a new glyphosate residue free product line of Organic Chia Seeds. It is certified by The Detox Project and considered a probable human carcinogen by the International Agency for Research on Cancer (IARC).

Some of the key players operating in the market profiled by FMI are:

  • 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.)
  • Others

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More Valuable Insights on Chia Seed Market

The latest report by FMI provides a detailed analysis of the global chia seed market, providing credible insights into key factor driving the market through 2021 and beyond. The study also disclosed growth projections on in chia seed market with detailed 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

By Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Key Questions Covered in the Report

  • The report offers insight into chia seed market demand outlook for the forecast period 2021-2031
  • The market study also highlights projected sales growth for chia seed market between 2021 and 2031
  • Chia seed market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
  • Chia seed market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

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