Flax Crop Market Analysis, Growth Opportunities, Future Demand with Leading Companies during The Forecast period 2022-2028

 

Flax Crop Market

Flax, often known as common flax or linseed, is a crop grown mostly in colder parts of the world. Flax plants come in two varieties, one with blue blooms and the other with white flowers. Linen is a type of textile manufactured from the flax plant that is mostly used for bed sheets, table linen, and undergarments. Linseed oil is the oil derived from the plant. Because of its drying (water repellent) characteristics, it is commonly used in paint binder, putty, and wood finish. Cold pressing is used to extract flaxseed oil. This preserves the nutrients in their natural state, making it suitable for human consumption.

The multiple health benefits of flax crops are predicted to be a primary driver of increased worldwide demand for flax crops. It functions as a natural laxative, promotes hormonal balance, and lowers the risk of osteoporosis. Furthermore, governments in several nations have recognised such health advantages and are working to obtain health clearances for its usage in diverse goods. For example, in October 2013, Health Canada's Food Directorate authorised a flaxseed health claim for decreasing serum cholesterol. Such claims will assist food makers in stating on labels the health advantages of flax consumption in lowering serum cholesterol, a key risk factor for coronary heart disease. This is predicted to boost demand for Flax Crop Market in the food industry.

Flax crop demand is growing due to increased demand for seeds and fibre utilised in businesses such as food, medicine, and textile. Weather conditions, optimal fertiliser usage (including nitrogen, phosphorous, and potassium), and weed management are major constraints in the production of flax crop since cold weather and optimum fertiliser use are beneficial to these crops. According to the Flax Council of Canada, dry circumstances harmed flax yields in 2017, resulting in 507,000 tones, 80,000 less than in 2016, despite an 11 percent increase in sown area. Furthermore, some nations have strict rules governing the use of genetically modified organisms (GMO) seeds and the usage of certain pesticides.

Governments from several nations are collaborating with various groups to increase flax seed output in order to meet rising demand in a variety of end-use sectors. This is projected to help the market develop during the forecast period. In Canada, for example, in 2015, the Flax Council, in collaboration with the Saskatchewan Flax Development Commission and the Manitoba Flax Growers Association, developed best management practises and treatments such as row spacing, seeding rate, seeding date, and fertility rate, which serve as key management considerations for increased flax crop yields and improved quality in the face of weather constraints.

Furthermore, governments are concentrating on creating certification criteria for flax seeds in order to protect the quality of these seeds. This is another aspect that is predicted to promote market expansion. There are flax seed certification criteria that must be followed for an efficient crop output. Weed-contaminated crops are often rejected by several processing businesses.