The poppy seeds market is an emerging market experiencing rising popularity due to its use in various bakery and snacks products like bread, cookies, and pizza crusts. Poppy seeds have a nutty and mild flavor and are a good source of dietary fiber, iron, and calcium. They are widely used as a topping in breads and also find applications in salad dressings, desserts, and curries due to their nutty taste.
The Global Poppy Seeds Market is estimated to be valued at US$ 322.6 Mn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the poppy seeds market are Olam International, A.P. Moller-Maersk, The Spice House, KSP Spices, McCormick & Company, Inc., T. Hasegawa Co., Ltd., A. J. Wa. Growing demand from the bakery, pharmaceutical, and culinary industries is expected to provide opportunities for market growth over the forecast period. Major players are expanding their global footprint by strengthening distribution networks in emerging economies.
Poppy Seeds Market Growth are focusing on strengthening their global distribution networks and product portfolios. The growing demand for poppy seeds from the expanding bakery industry worldwide is expected to drive market growth during the forecast period. The global expansion of key players into developing regions of Asia Pacific and Latin America through partnerships with local distributors will further augment the market reach.
The increasing popularity of cuisines using poppy seeds such as Greek salad, Central European breads, and Indian curries is expected to be a major market trend over the next few years. Poppy seeds deliver a crisp, nutty taste and add texture to both savory and sweet dishes. Emerging trends such as the launch of healthier snacks and baked goods fortified with poppy seeds will further accelerate demand.
Market key trends:
The rising health consciousness among consumers is a key trend driving the demand for poppy seeds. Poppy seeds are nutritional powerhouses containing fiber, calcium, iron and phyto-nutrients that offer various health benefits. Research showing link between poppy seed consumption and reduced risk of cardiovascular diseases and type 2 diabetes has increased its popularity as a superfood. This has prompted major food brands to launch new product lines featuring poppy seeds to cater to consumer demand for healthy snacks and baked goods.
Porter’s Analysis
Threat of new entrants: low requirement for starting poppy seeds cultivation and processing. However, established players enjoy economies of scale.
Bargaining power of buyers: buyers have moderate bargaining power due to availability of substitutes like sesame seeds and sunflower seeds.
Bargaining power of suppliers: suppliers have low to moderate bargaining power as poppy seeds are an agricultural commodity produced globally.
Threat of new substitutes: threat of substitutes is moderate as sesame seeds, pumpkin seeds etc. are used for similar purposes as poppy seeds.
Competitive rivalry: high as major players globally compete on the basis of quality, brand image and supply chain management.
Geographical regions with maximum value concentration of poppy seeds market are Central and Eastern Europe followed by Asia Pacific. Central and Eastern European countries like Hungary, Austria, Bulgaria and Czech Republic are among the leading producers and exporters globally.
The fastest growing region for poppy seeds market is Asia Pacific owing to expanding bakery industry and rising influence of cuisines from Central Europe that use poppy seeds. Especially India is emerging as a major market in the region supported by growing population, rising disposable incomes and spreading western food culture.
About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
