The global flax milk market is anticipated to grow at a CAGR of 5.6% from 2022 to 2032, reaching a market valuation of US$ 71.1 million. Sales of flax milk are predicted to make up a portion of the demand in the global market for plant-based milk, which is expected to reach US$ 41.3 million in 2022.
The health trend is currently at an all-time high, and customers are requesting healthier food and, as a result, are progressively demanding better options. Consistent with this organic trend, in which people are willing to pay a premium price for organic and wholesome food, the worldwide flax milk market has emerged as a profitable company.
Rapid urbanisation and lifestyle changes are leading to a trend towards more convenient or packaged food alternatives, paving the way for larger sales of flax milk in the present. Furthermore, flax milk producers are attempting to innovate and provide a healthier option to clients in order to drive the market in new parts of the world.
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The United States is expected to dominate the demand for flax milk in the coming days, owing to increased consumer awareness of the health benefits of flax milk in the United States and Canada, as well as rising demand for plant-based milk amid the rising trend of milk alternative protein consumption.
And future trends in the Brazilian flax milk market are expected to accelerate in the next years. This is owing to a surge in market demand for plant-based milk products in Brazil and other Latin American countries.
During the pandemic time, all businesses, booths, and restaurants were compelled to close, causing some setbacks in the flax milk market adoption trends. However, the tendency of consumers to use healthy food and beverage products in the aftermath of the pandemic crisis is predicted to revive the flax milk market potential in the following years by demonstrating a higher than the pre-pandemic CAGR of 4.3%.
Key Takeaways from Market Study
- As per the flax milk market analysis report, the net worth of the overall market is estimated to be around US$ 41.3 Million in the year 2022.
- The flax milk market in the U.S is expected to grow at a CAGR of 3.9% during the forecasted period 2022-2032.
- The flax milk market in Brazil is expected to grow at a CAGR of 2.7% during the forecasted period 2022-2032.
- Flax milk is sold as a dairy substitute in hypermarkets and supermarkets which are the major distribution channels for the sales of flax milk.
- Unsweetened flax milks are commonly used in smoothies or in the preparation of other beverages such as coffee or tea as a vegan milk substitute making it the prominent product type.
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Competitive Landscape for the Global Flax Milk Market
Flax milk manufacturers have introduced products in both flavoured and unflavoured product categories, and a demand surplus has been observed in the sales of these products, despite the fact that the majority of the products are sold under private labels. “Increased research activities and mergers and acquisitions will create new and ample opportunities for the growth of the flax milk market during the forecast period,” says a lead analyst at Future Market Insights.
Among the major players covered in the flax milk market report are GOOD KARMA FOODS, INC., Go Dairy Free, Linwoods, and some other domestic and global players.
Good karma flax milk is the most popular and widely available product on the worldwide market. Over the years, Good Karma plant-based milk products have become the most well-known vegan alternative food dominating the present global flax milk market as well.
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Future Market Insights, in its new offering, provides an unbiased analysis of the flax milk presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the flax milk based on Type (Unsweetened Flaxmilk, Original Flaxmilk, Flavor Flaxmilk), By Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, Food and Drink Specialty Stores, Others), and across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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About Food & Beverage Division at Future Market Insights
The Food & Beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
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