“Global Flaxseed Oil Market to reach a market value of 13 Billion by 2031 growing at a CAGR of 12.5%”
The Global Flaxseed Oil Market size is expected to reach $13 billion by 2031, rising at a market growth of 12.5% CAGR during the forecast period. In the year 2023, the market attained a volume of 220,418.9 tonnes, experiencing a growth of 14.8% (2020-2023).
Flaxseed oil’s natural origin and its role in reducing LDL cholesterol and regulating blood sugar levels align with the growing consumer preference for plant-based and minimally processed pharmaceutical products. Hence, the pharmaceuticals segment recorded nearly 1/5threvenue share in the market in 2023. In terms of volume, it is expected that 85,230.1 tonnes of organic flaxseed oil would be utilized by the year 2031. The pharmaceuticals segment is growing due to the therapeutic benefits of flaxseed oil. Its high alpha-linolenic acid (ALA) concentration and anti-inflammatory properties make it a preferred ingredient in dietary supplements targeting heart health, joint inflammation, and immunity. The increasing adoption of preventive healthcare practices has further spurred its application in the pharmaceutical industry.
Flaxseed oil has emerged as a popular product for those fighting lifestyle diseases, including diabetes and high cholesterol, due to consumers' increasing desire for natural and plant-based supplements. Its ability to raise HDL cholesterol and decrease LDL cholesterol, so enhancing heart health, makes it a staple in many diets. Additionally, its ability to improve digestive health and control blood sugar levels has increased its appeal to consumers who prioritize preventative healthcare. Additionally, flaxseed oil's versatility in plant-based cooking and dietary supplementation has made it an essential ingredient in vegan recipes, smoothies, and salad dressings. Thus, rising awareness of flaxseed oil’s multifaceted benefits and growing popularity reflects the broader trend of consumers seeking health-conscious and environmentally responsible choices, further solidifying flaxseed oil’s position in the market as a vital component of plant-based nutrition.
However, flaxseed oil is not just competing with fish oil but also with other plant-based oils such as olive oil, which is celebrated for its heart-healthy monounsaturated fats, and coconut oil, known for its unique medium-chain triglycerides that are touted for energy boosting and weight management. Each of these oils has its niche carved out with distinct health claims and culinary uses that attract different segments of consumers. This varied market landscape makes it challenging for flaxseed oil to stand out, particularly when it lacks the same level of public endorsement or clinical backing. Thus, these factors may hinder the expansion of the market.
Based on nature, the market is bifurcated into conventional and organic. The conventional segment garnered 69% revenue share in the market in 2023. In terms of volume, it is expected that 335,115.4 tonnes of organic flaxseed oil would be utilized by the year 2031. These oils are produced using traditional agricultural practices that allow for large-scale production at a lower cost, making them more affordable and accessible to a broader audience. Additionally, the established supply chains and extensive distribution networks of conventional flaxseed oil help ensure consistent availability on store shelves, appealing to consumers who prioritize price and convenience.
On the basis of application, the market is classified into food, cosmetics, pharmaceuticals, paints & varnish, flooring, and others. The cosmetics segment witnessed 14% revenue share in the market in 2023. In terms of volume, it is expected that 67,380.1 tonnes of flaxseed oil would be utilized in cosmetics by the year 2031. Flaxseed oil's rich composition of fatty acids, antioxidants, and vitamins makes it an important ingredient in moisturizers, anti-aging creams, and haircare products. Its capacity to moisturize the skin, lessen inflammation, and encourage a healthy complexion makes it appealing to customers looking for chemical-free and environmentally friendly cosmetics. Flaxseed oil is expected to become more popular in cosmetics as the beauty industry prioritizes sustainability.
By distribution channel, the market is divided into hypermarkets & supermarkets, convenience stores, specialty stores, online, and others. The hypermarkets & supermarkets segment garnered 35% revenue share in the market in 2023. In terms of volume, it is expected that 151,102.8 tonnes of flaxseed oil would be sold through hypermarkets & supermarkets by the year 2031. This success is largely due to the widespread presence and accessibility of these retail giants, which offer consumers the convenience of finding flaxseed oil alongside other grocery items. Hypermarkets and supermarkets typically benefit from high foot traffic, extensive geographic reach, and the ability to stock various flaxseed oil brands and types, making them a primary shopping destination for many consumers.
Free Valuable Insights: Global Flaxseed Oil Market size to reach USD 13 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment acquired 39% revenue share in the market in 2023. In terms of volume, it is expected that 262,219.6 tonnes of flaxseed oil would be utilized in this region by the year 2031. Growing knowledge of flaxseed oil's health advantages and incorporation into conventional diets and wellness practices, especially in nations like China, India, and Japan, are responsible for the region's supremacy. Their adoption has also been accelerated by the growing popularity of plant-based diets, rapid urbanization, and increased disposable incomes. Asia Pacific's robust food, pharmaceutical, and cosmetics industries have also driven the demand for flaxseed oil as a functional and versatile ingredient.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 5.4 Billion |
| Market size forecast in 2031 | USD 13 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 12.5% from 2024 to 2031 |
| Quantitative Data | Volume in Tonnes, Revenue in USD Billion, and CAGR from 2020 to 2031 |
| Number of Pages | 359 |
| Number of Tables | 750 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Nature, Distribution Channel, Application, Region |
| Country scope |
|
| Companies Included | Spectrum Organic Products LLC (Hain Celestial Group), Nutiva, Inc., Nestle S.A., Glanbia PLC, Royal Nut Company, NOW Foods, Inc., Cargill, Incorporated, Archer Daniels Midland Company, Johnson Seeds Ltd., ConnOils LLC (CoreFX Ingredients LLC) |
By Nature (Volume, Tonnes, USD Billion, 2020-2031)
By Application(Volume, Tonnes, USD Billion, 2020-2031)
By Distribution Channel (Volume, Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Tonnes, USD Billion, 2020-2031)
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 