Chia Seeds Market Size to Surpass $450 Mn Valuation by 2023
The global market report on chia seeds is expected to score past a valuation of USD 450 million with a CAGR of 8.86% during the forecast period of 2019 to 2024. Market Research Future (MRFR) predicted this growth on the basis of an analysis that covered several factors like growing health awareness, demand from the confectionery industry, hike in demand from the pharmaceutical sector, rising inclusion in the personal care sector, and others.
However, the COVID-19 analysis on Chia seeds Market Size reveals disruption in the supply chain market owing to which the market may find the growth a bit difficult. The COVID-19 chia seed market analysis, however, provides alternatives that can help the market in regaining its stature. For instance, the impact it has on curbing of weight.
The global report with a detailed study of the chia seeds market has been segmented by MRFR analysts based on form, category, and application. These segments have inputs regarding segments, backing up from factors and charts, and expert comments. Insights gleaned from these can help in a better formation of strategies for various countries.
By category, the study on the global chia seeds market has been segmented into organic and conventional. The organic one is witnessing high demand as people are relying more on products with a better impact on health.
By form, the discussion on the global chia seeds market includes segments like powdered chia seeds, whole chia seeds, and chia seed oil. The whole chia seeds segment has strong traction in the confectionery industry.
By application, the global market study on the chia seeds has been segmented into pharmaceuticals & nutraceuticals, personal care & cosmetics, food & beverages, and others. The food & beverage sector has substantial market coverage as its popularity is rising with confectionery and health awareness products.
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North America has the command over the chia seeds market. This is due to the rising number of manufacturers of chia seeds and a surge in consumption due to growing awareness. In North America and Europe, the market is also benefiting from the confectionery sector.
The global market for chia seeds is witnessing growth with the strategic evolution of companies like Chia Bia Slovakia s.r.o. (Slovakia), Benexia Europa S.A. (Belgium), The Chia Co. (US), ChiaCorp (US), Bob's Red Mill (US), Naturkost Übelhoer GmbH & Co. (Germany), Spectrum Organics Products LLC (US), Glanbia plc (Ireland), Navitas Organics (US), Mother India Organics and Naturals Pvt. Ltd. (India), Organic India (India), Garden of Life (US), Mamma Chia LLC (US), Bagrrys India Limited (India), Agropecuaria Chia Corp Bolivia SA. (Bolivia), and Sakata Seed Corporation (Japan). These companies are relying much on tie-ups, mergers, acquisitions, and others for growth and recording of better revenue generation. In addition, the market is known for better growth in research expenditure, improved branding and packaging, hike in awareness level of products, and others that would make a lasting impact on the market. MRFR’s attempt to record these moves and understand how the market can fare in the coming years can help in an assessment for strategic developments.
The COVID-19 analysis on chia seeds reveal several aspects. Its intake as a healthy substance that helps in digestion and reducing weight is a well-known argument. This is providing the market impetus during the COVID-19 crisis. People during the lockdown started hoarding ingredients that they found essential and they have bought this in huge quantity. The product has a substantial market demand due to better intake in confectioneries. However, in several countries the disruption in supply chain hindered the growth.
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Note: Our team of researchers are studying Covid-19 and its impact on various industry verticals and wherever required will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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