According to a new market report published by Credence Research Inc., “Chia Seeds Market by Application Type (Food, Beverages & Dairy, Animal Feed, Cosmetics & Skin Care and Pet Food)” - Growth, Future Prospects, Competitive ****ysis and Forecast, 2016 – 2023”, the worldwide chia seeds market was valued at US$ 199.85 Mn in 2015. In the same year, in terms of volume the market was 40.79 kilo tons.
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Chia seeds are becoming increasingly popular owing to its nutritional and health related properties such as omega-3 fatty acids, anti-oxidants, protein, fiber and minerals. The major factors driving the chia seeds market include the rising demand of beverages, cereals, and snacks made from healthy ingredients, increasing awareness about gluten free diet, and long shelf life of chia seeds. However, high price fluctuation of chia seeds is the major factor hampering the market growth. Furthermore, presence of various cheap alternatives such as soy, canola and flax is also inhibiting market growth.
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Growing popularity of super foods and expanding application scope of chia seeds offers unlimited potential for growth. Moreover, the market’s high demand to supply ratio is also creating lucrative opportunities for growth of the market and for manufacturers. In addition, owing to increasing popularity of chia seeds in Asia Pacific and European regions offers huge untapped market potential.
Benexia, Chiatrition Chia Seeds, Naturya, Original Chia, Glanbia Nutritionals, Spectrum Essentials Chia Seeds, TruRoots organic chia seeds, Naturkost Übelhör, Chiatrition Chia Seeds, MDECA Group SRL, and Chia Freyval Company are some of the key players present in this market.
- Asia Pacific and European regions offers huge untapped market potential
- Expanding application scope of chia seeds offers unlimited potential for growth
- High demand to supply ratio is also creating lucrative opportunities for growth of the market and for manufacturers
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