Global Packaged Chia Seed Market Size to Grow at a CAGR of 5.8% During the Forecast Period 2021-2026
Global Packaged Chia Seed Market size in 2020 is estimated to be $450 million, growing at a CAGR of 5.8% during the forecast period 2021-2026. Chia seeds helps to provide energy and also have immense nutritional value. Increasing health consciousness among people and growing demand for ancient grain products are the major factors driving the growth of this market. Moreover, growing preference for vegan food has increased the shift towards healthy snacks further enhancing the overall market demand for global packaged chia seed during the forecast period 2021-2026.
Global Packaged Chia Seed Market Segment Analysis – By Product Type
Based on the Product Type, Global Packaged Chia Seed Market is segmented into White Chia Seed, Black Chia Seed, and Brown Chia Seed. The black chia seed segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 5% during the forecast period 2021-2026. Black chia seeds provide more protein content and are smaller and are mostly used for food applications contributing to the growth of this segment.
Global Packaged Chia Seed Market Segment Analysis – By Application
Based on the Application, Global Packaged Chia Seed Market is segmented into Food and Beverages, Pharmaceuticals & Nutraceuticals, Personal Care & Cosmetics, and Others. In 2020, Food and Beverages held the major share in the Global Packaged Chia Seed Market. This is mainly owing to increased use of chia seeds in bakery products, peanut butter, breakfast cereals, and other applications which has contributed to the dominance of this segment.
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Global Packaged Chia Seed Market Segment Analysis – By Geography
North America dominated the Market share accounting for 40% of the market in 2020. This is mainly owing to increasing health consciousness among consumers and rising demand for protein alternatives. The American Heart Association recommends addition of omega-3 rich foods and oils in the daily diets to prevent heart disease which has led to the increased consumption of chia seeds among consumers thus contributing the growth of this market.
However, the Asia Pacific region is projected to be the fastest-growing during the forecast period 2021-2026. This is owing to rising consumer preference towards consuming healthy products and is further driven by the rapid increase of population in these countries as well.
Global Packaged Chia Seed Market Drivers
Increasing Health Consciousness among People
Growing awareness among the consumers regarding the health benefits provided by chia seeds is the major factor driving the market growth of this segment. Moreover, the use of chia seeds as a source of calcium, iron, proteins, & fiber and the growing adoption of a sugar-free and gluten-free diet is increasing the market growth of global packaged chia seed.
The suppliers of the Food and Beverages are impacted owing to the COVID-19 pandemic. However, lockdown is also causing disruptions in the logistics system which affected the supply chain but this pandemic has also increased the health consciousness among the consumers which increases the demand of this market.
Growing Demand for Chia seed based products
The increasing demand for ancient grains and multi-cereal-based products as functional foods is a significant factor driving the growth of the market. Ancient grains are less processed and this increases their demand among consumers. Chia seeds are also used in various food or beverage products, increasing the sale of chia seed-based products in the market.
Global Packaged Chia Seed Market Challenges
High processing cost of chia seeds and rapid price fluctuations are challenging the growth of the market. Moreover, lack of awareness among farmers about the profitability from the cultivation of chia seeds are further restraining its market growth during the forecast period 2021-2026.
Global Packaged Chia Seed Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Global Packaged Chia Seed Market. Global Packaged Chia Seed Market top 10 companies are Nutiva Inc., The Hain Celestial Group Inc., Vega Produce LLC, Nutriwish, Newtree, Glanbia plc, Navitas Organics, Mamma Chia LLC, Mother India Organics and Naturals Pvt. Ltd.
Acquisitions/Product Launches:
In 2019, Glanbia Plc. has partnership with food, beverage and supplement companies to deliver protein, plant-based nutrition, bioactive, premix, flavour, bakery.
Key Takeaways
In 2020, North America dominates the Global Packaged Chia Seed Market owing to increasing health consciousness among consumers and rising demand for protein alternatives.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Global Packaged Chia Seed Market report.
The high processing cost of chia seeds is challenging the growth of the market.
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