According to a recent report by Future Market Insights, market research and competitive intelligence provider, sales of flax milk is estimated to reach a value of USD 71.1 Million by 2032, surging at 5.6% CAGR through the decade.
The health trend is presently at an all-time high and customers are desiring healthier food and are becoming increasingly demanding for better alternatives as a result. In consistent with this organic trend, in which people are prepared to pay a higher price for organic and healthful food, the global flax milk market has surfaced to be lucrative business.
Rapid urbanisation and changes in lifestyle are contributing to a trend toward more convenient or packaged food alternatives has created a fair ground for the higher sales of flax milk in present times. Furthermore, flax milk manufacturers are also seeking to innovate and give a healthier option to customers that can drive the market in new parts of the world.
The demand for flax milk is likely to be dominated by the United States in the coming days. This can be linked to greater consumer knowledge of the health advantages of flax milk in the United States and Canada, as well as rising demand for plant-based milk amidst the rising trend of milk alternative protein consumption.
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And during forthcoming years, future directions in the Brazilian flax milk market are predicted to rise at a quick rate. This is due to an increase in market and positive attitude towards plant-based milk products in Brazil and other Latin American nations.
The flax milk market adoption trends have suffered some setbacks during the pandemic period, as all shops, stalls, and restaurants were forced to close down. However, the tendency of consumers to use healthy food and beverage products in the aftermath of pandemic situation is expected to revive the flax milk market opportunities in the following years by exhibiting a higher than the CAGR of 4.3% followed during the pre-pandemic period.
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.
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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Flax Milk Market by Category
By Product Type, Flax Milk Market is segmented as:
- Unsweetened
- Original
- Flavoured
By Distribution Channel, Flax Milk Market is segmented as:
- Hypermarkets
- Supermarkets
- Convenience Stores
- Food and specialty drinks stores
- Others
By Region, Flax Milk Market is segmented as:
- North America
- Latin America
- Europe
- Middle east and Africa
- East Asia
- South Asia
- Oceania
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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