The Flax Protein Powder Market has grown as a result of an increase in the demand for speciality ingredients on a global scale. It is expected to surpass US$ 1 billion by 2018 and continue to grow at an impressive CAGR of 7.3% through 2028. Growing consumer interest in specialised nutrition and expanding application possibilities for protein hydrolysate components, particularly in the food industry, are projected to favour the expansion of the global protein hydrolysate ingredients market in the next years.
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Due to the inexpensive prices and widespread availability of conventional flax protein and products throughout the world, the conventional flax protein category dominates the other segments in terms of volume. The rapid expansion of the organic segment of the global flax protein market is attributed to consumers’ growing desire for organic goods from both developed and developing nations. This can be ascribed to people’s improved ability to spend, an increase in disposable income, and an increase in the price of organic flax protein.
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Flax Protein Market: Segmentation
- Flax Protein Market By Nature : Organic, Conventional
- Flax Protein Market By Source: Brown Flaxseed, Golden Flaxseed
- Flax Protein Market By End Use : Supplements, Energy & Sports Nutrition, Dairy Products, Beverages, Bakery and Confectionaries, Convenience Food, Personal Care Products
- Flax Protein Market By Distribution Channel : Business to Business, Supermarkets, e-Commerce, Retail Stores
- Flax Protein Market By Region : North America : US, Canada, Latin America : Brazil, Mexico, Rest of LATAM, Asia Pacific : China, India, Australia & New Zealand, ASEAN, Rest of APAC, Europe : EU5, BENELUX, Russia, Rest of Europe, Middle East & Africa : GCC Countries, Egypt, Morocco, South Africa, Rest of MEA
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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.
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