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The poppy seed market is projected to grow by USD 40.26 million with a CAGR of 3.65% during the forecast period 2021 to 2026.
This poppy seed market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the poppy seed market segmentation by channel (offline and online) and geography (Europe, APAC, North America, South America, and the Middle East and Africa). The poppy seed market report also offers information on several market vendors, including American Meadows Inc., Baker Creek Heirloom Seeds, Bata Food, Belmar A.S, Bora Foods Pvt. Ltd., Branded Garden Products Ltd., Browntree, Central Garden & Pet Co., Frontier Co. op, Healthy Master, ITC Ltd., Nuts n Spices, Olivenation LLC, Probi Spol s.r.o, RR Pillai's Agro Exim Pvt. Ltd., Ruchi FoodLine, Select Seeds Co., Takkaiah and Co., Ugaoo Agritech Pvt. Ltd., and Woodland Foods Ltd. among others.
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The increasing number of vegans and vegetarians is notably driving the poppy seed market growth, although factors such as threats from other ingredients with similar benefits may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the poppy seed industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Poppy Seed Market Driver
The increasing number of vegans and vegetarians is notably driving the poppy seed market growth. A vegan diet is a part of the larger vegan lifestyle. It strongly favors animal rights and is concerned about the environment. Consumers embracing a vegan lifestyle make a conscious effort to stay away from all products of animal origin, be they food, clothing, or accessories. They opt for healthy substitutes for meat, dairy, and other conventional sources of protein and perceive a vegan diet to be healthier than a meat-based diet. Instead of animal-based products, vegans prefer plant-based foods. With a steady rise in veganism and vegetarianism, poppy seeds will be a viable alternative to meat and dairy. Also, poppy seeds are healthier than any meat source and are also cholesterol-free. They have found widespread acceptance in fitness-conscious western societies and are slowly gaining ground in developing economies as well. Poppy seeds are gluten-free, which makes them especially popular in vegan and vegetarian diets. There is also a growing demand for plant-based vegan food, which is now available in various varieties, such as on-the-go and single-serve pouches, and different flavors. These products offer an excellent opportunity for food producers to diversify their portfolios and cater to different customer segments. Such trends are expected to boost the growth of the global poppy seeds market during the forecast period.
Key Poppy Seed Market Trend
Online buying is the primary trend driving the poppy seed market's growth. With the growth of e-commerce businesses worldwide, vendors have the potential to increase their profitability. Online and e-commerce channels support both business-to-business (B2B) and business-to-consumer (B2C) operations. The average amount of money spent online per transaction and the number of transactions that take place online are on the rise globally. The increase in the number of Internet users and the "buy it now" attitude of these users are contributing to the growth of this retail channel. The growing number of online shoppers in the US will further translate into an increase in the sales of poppy seeds through the online channel. Customers prefer to shop online and pay for their orders using their credit or debit cards, which helps them avoid time-consuming journeys and long billing queues. Online shopping portals now also provide improved security features for payments and efficient customer service, along with user-friendly website designs that offer enhanced product visibility. This trend is encouraging various poppy seed manufacturers to focus on Internet-savvy customers and venture into the new online retail format. This mode of business will help them save operating costs and overheads, which are lower in the online retail format than in the physical store format. Such factors are expected to drive the growth of the poppy seeds market during the forecast period.
Key Poppy Seed Market Challenge
The threat from other ingredients with similar benefits is the major challenge impeding the poppy seed market growth. One of the major challenges that hamper the growth of the global poppy seeds market is that they contain monounsaturated, polyunsaturated, and Omega-3 and 6. Also, the global poppy seeds market is facing severe competition from other superfoods, such as quinoa and chia seeds. Chia seeds are one of the popular superfoods globally. They are easily digestible and are adaptable ingredients that can be added to various recipes. Chia seeds are rich in protein, dietary fiber, Omega-3 fatty acids, Omega-6 fatty acids, copper, phosphorus, zinc, potassium, and calcium. Chia seeds have essential fatty acids like alpha-linolenic and linoleic acid, mucin, strontium, vitamins A, B, D, and E, and minerals, including iron, iodine, magnesium, manganese, sulfur, niacin, and thiamine. They are also a rich source of antioxidants. Chia seeds are used in several industries, including functional food, animal feed, and nutraceuticals. In the food and beverage industry, they are promoted as a packaged superfood and as a supplement in cereals, muesli bars, bakery products, peanut butter, and beverages. For instance, in July 2021, Beyond the Equator, a supplier of superfoods, announced the launch of its Chia Seed Flour. The increase in the popularity of substitute products is expected to hamper the growth of the global poppy seeds market during the forecast period.
This poppy seed market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global poppy seed market as a part of the global agricultural products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the poppy seed market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the poppy seed market encompasses successful business strategies deployed by the key vendors. The poppy seed market is fragmented, and the vendors are deploying growth strategies such as differentiating their product offerings through a clear and unique value proposition to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The vendor profiles are designed to help clients improve their market position and information on production and sustainability along with this the report provides a detailed analysis of several leading Companies.
Our In-house experts produce extensive information on the value chain and parent market of the poppy seed market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also the optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Channel
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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