DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Chia Seeds Market - Growth, Trends and Forecasts (2016-2021)" report to their offering.
The global chia seed market is expected to reach USD 1.5 billion by 2021, registering a CAGR of 40.62% during the forecasted period from 2016 to 2021. Chia seeds are grain seeds with various nutritional properties like high omega-3 content, high fiber content, rich in proteins, good source of minerals and gluten free. Currently due to high demand and relative low supply of chia seeds, the value of chia and chia containing products are much higher as compared to canola, soy and flax.
Nowadays chia seeds has been utilized by various industries including functional food, animal feed and cosmetics, however food is the most dominating industry by consumption. In food and beverage industry chia seeds are getting promoted as packed superfood and as supplement in bakery, cereals, muesli bars, peanut butter and beverages.
The major factors driving the industry includes growing demand of cereals, snacks and beverages, increasing demand of healthy food ingredients, gluten free nature, easy transportation and long shelf life. Chia seeds have advantages over competitive products like flax seeds, as chia seeds do not need to be ground and there is no issue of rancidity as in the case of flax.
Chia seeds have nearly the same omega-3 content as flax seeds and it is predicted that chia seeds will replace the flax seed market in the coming decade. However, high price fluctuation is the only restraint for the growth of the market. The market's high demand to supply ratio is making the market more lucrative for investors and creating opportunities for growth of the market. Looking at the growing popularity of superfoods over the past decade, the market seems to hold unlimited potential for growth.
Globally, 80% of the chia supply is coming from South America; however, US and Australia are the market leaders and have the highest chia seeds demand. Asia Pacific is expected to witness the fastest growth due to a large consumer base and consumer inclination towards the superfoods. North America witnessed the largest food and beverage launches with chia ingredients in 2014, followed by Asia Pacific and Europe. In the coming years, demand of chia based products will increase in UK, Brazil, Chile, Spain and India.
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