LONDON--(EON: Enhanced Online News)--Technavio analysts forecast the global packaged chia seeds market to grow to USD 1.57 billion by 2021, at a CAGR of more than 34% over the forecast period, according to their latest report.
“An increasing number of individuals are favoring vegan lifestyles, which advocates animal rights and equality. Consumers embracing a vegan life consciously opt for cruelty-free products, and consume plant-based products, which is positively impacting the packaged chia seeds market”
The research study by Technavio on the global packaged chia seeds market for 2017-2021 provides detailed industry analysis based on end-use (food and beverages, nutraceuticals, and animal feed) and geography (the Americas, EMEA, and APAC).
Chia seeds are extracted from a plant called chia. They are rich in omega-3 fatty acids, vitamin B, and several minerals like iron, calcium, and zinc. The Americas is the leading regional segment of the global packaged chia seeds market, generating both the highest revenue and maximum incremental growth over the forecast period.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global packaged chia seeds market:
- Health benefits of chia seeds
- Growing health consciousness and increasing obese population
- Increasing number of vegans and vegetarians
Health benefits of chia seeds
“Chia seeds are one of the most popular superfoods as they are easily digestible, have versatile applications, and are rich in dietary fiber, protein, essential fatty acids, minerals, vitamins, and antioxidants,” says Manjunath Reddy, a lead analyst at Technavio for food research.
This superfood provides health benefits such as prevention of premature skin aging, improvement of digestive health and heart health, better control over diabetes, and its role in weight loss and muscle development. These impressive benefits of chia seeds act as a key driving factor.
Growing health consciousness and increasing obese population
People are becoming increasingly health conscious and are providing more importance to the quality of the foods that they consume. This is expected to increase the demand for plant-based protein and superfoods like chia seeds, which are capable of providing proteins similar to their animal-based counterparts.
Additionally, the drastic rise in the occurrence of health problems such as diabetes, digestive disorders, allergies, and obesity in the global population is encouraging people to adopt healthier lifestyles and eat fresh foods. Superfoods like chia seeds provide more energy, reduce the effects and aging, and help in reducing weight, which is driving their adoption in daily lifestyles.
Increasing number of vegans and vegetarians
“An increasing number of individuals are favoring vegan lifestyles, which advocates animal rights and equality. Consumers embracing a vegan life consciously opt for cruelty-free products, and consume plant-based products, which is positively impacting the packaged chia seeds market” says Manjunath.
Vegan consumers opt for healthy substitutes for meat, dairy, and other conventional sources of protein and adopt a vegan diet, which is healthier than a meat-based diet. With a steady rise in veganism and vegetarianism, chia seeds are projected to be the favored alternative to meat and dairy.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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