Chia Seeds Market
Chia seeds belong to the salvia hispanica family of edible seeds, which origins from Guatemala and Mexico. The South American long, dry climate makes the production of chia seeds rapidly, especially in countries like Guatemala, Ecuador, Argentina, Paraguay, Peru, and Bolivia, which made them the major consumers of the product. Bolivia alone has around 3,000 to 4,000 cultivars of chia seeds, making them one of the largest producers in the region.
An estimate of 80% of the global chia supply comes from South America. The rest of the percentage comes from Australia and France, with a few from the Asia-Pacific regions.
Due to its gluten-free property, richness in protein, fiber, carbohydrate, phosphorous, potassium, calcium, Omega-3 fatty acids, and vitamins A, C, and E, chia is considered a powerhouse of nutrients and vitamins. Chia seeds can also be consumed as whole seeds, ground, oil, flour, and gel. Owing to its high nutritional, medicinal values and consumers’ awareness of its benefits, the global chia seeds market was at a value of nearly USD1.8 million in 2020, which is forecasted to rise from 2021-2026, a CAGR of 6.5%.
Market Segmentation of Chia Seeds
The chia seed is subdivided into three market segments, brown, white, and black, in which black chia seeds top the market. The forecast for black chia seeds by the end of 2021 is most likely to surpass 40,000 million metric tons. The distribution channel of chia seeds is mainly segmented into hypermarket, supermarket, online, convenience store, and other channels. Due to the global pandemic, consumers are shifting to online stores and are now continuously growing.
Export and Import of Chia Seeds
The South American countries hold the largest share of chia seeds in the market globally, while Europe is the largest importer of the product. The top exporters of chia seeds and chia-based products are Argentina, Bolivia, and Peru, while the top importers are the United States and Australia, followed by Germany, Belgium, Italy, Canada, Japan, South Korea, China, among others. The demands from other countries in the Asia Pacific regions, mainly used for functional cereals and baking, are increasing, resulting in a higher production from South America.
Covid-19 Effect on Chia Seeds Market
The Covid-19 lockdown causes a large disruption in the global logistic chain, which affects the supply of chia seeds across the globe. Due to this factor, there was a decline in supply during the first half of the pandemic year. However, as consumers are being health-conscious, the opportunity of chia seeds in the market has increased.