(Entertainment-NewsWire.com, May 12, 2018 ) The global chia seed market is expected to reach USD 2.95 billion, by the year 2023 while registering a CAGR of 40.6% during the forecast period. North America is the largest market for chia seeds while a bulk of chia seeds comes from the Latin American region. Europe also promises to be an exciting market, especially after the EU commission’s approval to use chia as a food ingredient. Bolivia, Argentina and Ecuador are the largest chia producers while Mexico, Australia and Argentina are also significant producers.
The global consumption pattern for food is changing and people are moving towards healthy food patterns. Chia is termed as a “super-food” (i.e., nutrient-rich foods considered to be especially beneficial for health and well-being). EU recognized the importance of chia in the year 2009 and licensed the usage of chia as a food ingredient in food products. Initially it limited the usage of chia to 5% in the food products but, in 2013 the limit of chia usage was increased to 10% for various products.
Chia seeds are also a source of fibre, rich in numerous vitamins & minerals and are naturally gluten-free. These characteristics make it ideal for vegan / vegetarian diets, thus creating further consumer interest.
The gluten-free aspect of chia seeds also creates a strong interest among consumers suffering from gluten intolerance (celiac disease) or those who simply avoid gluten intake.
In the current food market chia is not expected to be rivaled by any other commodity which can act as a substitute to chia and provide the same nutritional values and health benefits as the later offers. This, is increasing the interest of farmers towards producing chia on a larger scale hence, promoting the demand for chia seeds.
Key Developments in the Market
Chia seed market is experiencing a staggering growth due to change in consumption patterns as well as acceptance of chia as a food ingredient by the government of various countries.
March 2017: Mamma Chia, a leading private company in the chia seeds market, introduced three new flavors to its Chia Vitality Beverage Line.
July 2017: Drink Wow, a company with chia based product portfolio, introduced its first chia seed based beverage to the market. In 2015. The beverage is the first chia based product in the EU countries. In September 2015, Drink Wow, gained the approval to produce chia based products.
Reasons to Purchase this Report
Analysis of trend and forecast of chia seed market Analysis of various perspectives of the market with the help of Porter’s five forces analysis Analysis of major factors which are impacting the chia seed market Regional analysis of the market Competitive analysis complete with market strategies adopted by the leading market players 3 months analyst support along with the Market Estimate sheet in excel. Customization of the Report Countries of client’s interest can be included in report based on feasibility of report. Companies of client’s interest can be included in report based on feasibility of report. Companies Mentioned:
US, Canada, Mexico, Germany, UK, The Netherlands, The Scandinavian Region, China, Australia, India, Japan, Bolivia, Argentina, Ecuador, Paraguay, Peru, South Africa, Kenya Enquire more details of the report: http://orbisresearch.com/contact/purchase/2127235?utm_source=r0h!t
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