The chia seeds market is expected to witness significant growth during the forecasted period of 2024-2029.
Chia Seeds Market Introduction:
Chia seeds are edible seeds that belong to the mint family of Salvia hispanica. These seeds provide an abundant source of fibre, polyphenols, omega-3 fatty acids, vitamins, minerals, antioxidants, and peptides. These seeds are also a good source of vegetable protein, carbohydrates, unsaturated fat, and ash. Chia seeds provide several health benefits, which include reducing the risk of cardiovascular disease by reducing blood pressure, cholesterol, oxidation, and platelet aggregation.
Chia seeds can be used to make chia gel. Since chia seeds are known to have great absorption properties, they can be used to absorb water to create chia gel. Chia gel can be a good addition to smoothies and soups to boost the nutrient value or increase the thickness. Several different types of products include chia pudding, chia sprouts, egg replacers and many others.
The factors that affect the chia seeds market growth are the health benefits that are provided by chia seeds and the change in trends of food consumption to plant-based foods.
Chia Seeds Market Drivers:
- Awareness of health benefits: Chia seeds are known for their abundance of nutrients. Chia seeds are a known source of omega-3 fatty acids and fibre, which can help with the function of the human body. These seeds provide similar amounts of omega-3 fatty acids as ground flaxseeds in the form of Alpha-Linolenic Acid (ALA), which helps in weight loss. Chia seeds are an excellent source of fibre as well, which can provide a variety of health benefits such as improved heart health, intestinal health, and reduced cholesterol levels. Since fibre takes longer to digest, it will provide the necessary satisfaction, which helps in weight loss and decreases the risk of diabetes or heart disease. It is also known to protect against colorectal cancer. As the burden of heart disease tends to increase on a global scale due to unhealthy diets, the health benefits of chia seeds can fuel the growth of healthier and functional foods. This, in turn, can increase the chia seeds market growth during the forecasted period.
- Increasing popularity of vegan and plant-based foods: The increase in the popularity of vegan and plant-based foods can be attributed to the increase in disposable incomes and the change in trends for food consumption. As plant-based alternatives increase in popularity, the chia seeds market is expected to witness growth as well. Chia seeds have been known to contain the best plant-based fat due to their composition of omega-3 fatty acids. As per the report of Good Food Institute, the U.S. retail sales of plant-based foods accounted for US$8 billion in 2022, with 60% of consumers showing repetitive purchasing behaviours of plant-based foods. It was also shown that the alternative protein sector is expected to witness rapid growth from US$90 billion to US$1.1 trillion in 2040. This growth can provide the necessary boost to the chia seeds market due to chia seeds being a good source of omega-3 fatty acids, which stimulate muscle protein synthesis.
Chia Seeds Market Key Players:
- The Chia Co.: An Australian multinational company that is known for being the largest producer of chia seeds in the world. They contribute to the health and wellness of the global community by producing several high-quality chia-based products.
- Nimbark Foods: A trusted brand under the corporate umbrella of Himalayan Bio Organic Foods Limited, it provides a variety of organic foods to the public and has a well-known presence in the internet-savvy world.
Chia Seeds Market Regional Analysis:
The North American region is expected to witness significant growth in the chia seeds market during the forecasted period of 2024-2029.
The factors that affect market growth are the increasing popularity of plant-based foods and rising disposable incomes. As per the report from Good Food Institute, the total U.S. retail sales for plant-based foods will reach US$8 billion in 2022. 60% of the consumers also displayed repeated purchasing behaviour on plant-based foods. This can be due to the increasing awareness of the health benefits of plant-based foods, which gives the necessary boost for the chia seeds market to prosper.
Another factor that affects growth can be the increase in disposable incomes of households, which can change the consumption behaviour of consumers. As per the Bureau of Economic Affairs, the Disposable Personal Income (DPI) has shown an increase to US$71.6 billion, and the Personal Consumption Expenditure (PCE) has shown an increase to US$46.7 billion in November 2023. As disposable income increases, consumers tend to prefer premium or functional foods, which leads to an increase in the consumption of plant-based food varieties. Chia seeds are known to contain an abundant source of omega-3 fatty acids and antioxidants, which can serve as a functional component that aids in the reduction of risk of heart diseases such as cardiovascular disease. This can fuel the chia seeds market growth during the forecasted period.
Chia Seeds Market Developments:
- June 2020: Benexia announced its expansion into the chia-based food and beverages industry with its CPG brand, Seeds of Wellness, and launched its plant-based milk product. Benexia is a Chile-based company known for being a world-leading producer of chia-based powders and extracts for use in supplements, food and beverages. This also provided the company with the necessary growth in distribution for its chia pasta and chia oils. They announced the launch of three chia milk products, which will be sold in some Albertsons, Price Chopper locations, and other retailers.
Chia Seeds Market Segmentation:
- By Origin:
- By Form:
- By End-User Application:
- Food and Beverages
- Personal Care and Cosmetics
- Pet Food
- Dietary Supplements
- By Geography:
- North America
- United States
- Canada
- Mexico
- South America
- Europe
- United Kingdom
- Germany
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- Others
- Asia Pacific
- Japan
- China
- India
- South Korea
- Indonesia
- Thailand
- Others