Market Overview
Global Chia Seeds Market is projected to grow at a significant rate of 8.86% from 2019 to 2024 to reach a market value of USD 450 million by the end of 2024. Chia seeds are obtained from a species of flowering plant called Salvia HISPANICA which belong to LAMIACEAE or mint family. Chia seeds have gained their popularity based on their nutritional value and diverse application across various industries. Chia seeds contain nutritional supplements like Omega3 fatty acids, good quality proteins and fiber. Owing to the benefits obtained from chia seeds, the product has gained popularity on a global level as a superfood. Demand of chia seeds is found to be escalating among health-conscious consumers, due to on its cholesterol lowering properties. Chia seeds are now widely used in functional food and beverages to enhance the overall nutritive value of the product. Overall, rising health awareness among the present population is supporting the growth of chia seed in the global market.
Increasing health concerns and high demand of protein and fiber rich food products from consumers’ end have a significant impact on this market. Manufacturer’s highly focus on the product innovations which has resulted in fortification and value-added product offerings. Technological strides and a keen focus on R & D have supported in fueling up the market share of chia seeds in the global scenario. Players emphasize on manufacturing natural and organic chia seeds to suffice the growing demand of consumers. This has further led to increased sale of the product. Increasing population of women adopting a healthy lifestyle and traditional food consumption pattern have increased the sale of chia seeds globally.
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Leading Key Players
The demand for white chia seeds is growing at a significant rate, whereas, black chia seeds based on high production volume holds a lion’s share in the market. Whole form of chia seeds is anticipated to grow at the highest rate during the forecast period owing to consumer’s food perception. In addition, the demand for chia seeds in Food & Beverages and Nutraceuticals is estimated to have a high growth based on increasing health awareness.
Additionally, based on the ease of purchase, sale of chia seeds through supermarkets/hypermarkets accounts for a significant share among the various other distribution channels.
Some of the key players profiled in the Global Chia Seeds Market are Benexia Europa S.A. (Belgium), The Chia Company (Australia), Chia Bia Slovakia s.r.o. (Slovakia), Naturkost Übelhör (Germany), ChiaCorp (U.S.), Bob’s Red Mill (U.S.), Glanbia plc (Ireland)
Chia seeds manufacturers across various regions are following the strategy of geographical expansion to penetrate the global market and to meet the growing demand for chia seeds. Furthermore, the key players are found to be investing highly in R & D sector to improve their existing products line and to enhance the quality of the product. This is one of the major factors that propel the demand for chia seeds as a potential nutraceutical product. In the North America, the U.S. is amongst the dominating countries holding a major share in chia seeds market and export of the product to various other countries, which include the Canada, the U.K., the Netherlands, Australia, Germany and others.
Regional Analysis
Global Chia Seeds Market is segmented into Europe, Asia Pacific, North America and rest of the world (RoW). North America holds a major market share followed by Asia Pacific. High demand for chia seeds owing to increasing disposable income from the developed countries of these regions is contributing to the positive growth of the chia seeds market. Germany, the U.S., the Netherlands, the U.K. and China are the major importers of chia seeds. Economic growth and developed trading channels are also driving the growth of chia seeds market in these countries.
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