Linseed Market

The global linseed market is anticipated to see a positive trend in consumption, with market volume expected to reach 4.9M tons and value to hit $3.6B by 2030. Russia, China, and Canada are the top consuming countries while Russia, Kazakhstan, and Canada are the top producing countries. Key insights include consumption, production, import, and export trends, as well as analysis of market players and growth rates over the years.

Market Forecast

Driven by increasing demand for linseed worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.7% for the period from 2022 to 2030, which is projected to bring the market volume to 4.9M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.5% for the period from 2022 to 2030, which is projected to bring the market value to $3.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Linseed

For the third year in a row, the global market recorded growth in consumption of linseed, which increased by 6.7% to 4M tons in 2022. The total consumption volume increased at an average annual rate of +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, global consumption attained the peak volume in 2022 and is expected to retain growth in the immediate term.

The global linseed market size rose slightly to $2.7B in 2022, surging by 1.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked in 2022 and is expected to retain growth in years to come.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Russia (1M tons), China (904K tons) and Canada (314K tons), together accounting for 56% of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Russia (with a CAGR of +77.7%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest linseed markets worldwide were China ($556M), Russia ($413M) and the United States ($287M), together comprising 46% of the global market.

Russia, with a CAGR of +75.8%, saw the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of linseed per capita consumption in 2022 were Belgium (23 kg per person), Kazakhstan (16 kg per person) and Canada (8.1 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Russia (with a CAGR of +77.9%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Linseed

Global linseed production rose notably to 4M tons in 2022, picking up by 9.1% on the previous year's figure. The total output volume increased at an average annual rate of +4.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 18%. Global production peaked in 2022 and is likely to see steady growth in years to come. The general positive trend in terms output was largely conditioned by a pronounced increase of the harvested area and a slight curtailment in yield figures.

In value terms, linseed production contracted to $2.5B in 2022 estimated in export price. Overall, the total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +56.8% against 2016 indices. The pace of growth appeared the most rapid in 2013 with an increase of 35%. Global production peaked at $2.9B in 2021, and then reduced in the following year.

Production By Country

Russia (1.8M tons) constituted the country with the largest volume of linseed production, accounting for 44% of total volume. Moreover, linseed production in Russia exceeded the figures recorded by the second-largest producer, Kazakhstan (846K tons), twofold. Canada (473K tons) ranked third in terms of total production with a 12% share.

In Russia, linseed production expanded at an average annual rate of +15.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kazakhstan (+7.4% per year) and Canada (-3.5% per year).

Yield

In 2022, the global average linseed yield declined slightly to 884 kg per ha, remaining constant against 2021. Overall, the yield recorded a slight decrease. The growth pace was the most rapid in 2016 when the yield increased by 10% against the previous year. As a result, the yield reached the peak level of 1.2 tons per ha. From 2017 to 2022, the growth of the average linseed yield remained at a lower figure.

Harvested Area

The global linseed harvested area rose markedly to 4.5M ha in 2022, picking up by 10% against 2021. Over the period under review, the total harvested area indicated a remarkable increase from 2012 to 2022: its figure increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, linseed harvested area increased by +51.9% against 2015 indices. The growth pace was the most rapid in 2014 when the harvested area increased by 18% against the previous year. The global harvested area peaked in 2022 and is expected to retain growth in the immediate term.

Imports

World Imports of Linseed

In 2022, approx. 1.9M tons of linseed were imported worldwide; increasing by 11% on the year before. The total import volume increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by 23%. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, linseed imports soared to $1.6B in 2022. In general, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +92.2% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 41%. Over the period under review, global imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports By Country

In 2022, China (615K tons), distantly followed by Belgium (402K tons), the United States (191K tons), Germany (113K tons), the Netherlands (101K tons) and Poland (92K tons) were the main importers of linseed, together creating 80% of total imports. Afghanistan (64K tons), Turkey (44K tons), France (39K tons) and Italy (32K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Afghanistan (with a CAGR of +21.1%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest linseed importing markets worldwide were China ($405M), Belgium ($352M) and the United States ($226M), together accounting for 61% of global imports. Germany, the Netherlands, Poland, France, Turkey, Afghanistan and Italy lagged somewhat behind, together accounting for a further 27%.

Among the main importing countries, Afghanistan, with a CAGR of +24.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average linseed import price amounted to $856 per ton, growing by 11% against the previous year. In general, import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, linseed import price increased by +75.1% against 2019 indices. The growth pace was the most rapid in 2021 an increase of 37%. Global import price peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($1,179 per ton), while Afghanistan ($485 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Linseed

In 2022, shipments abroad of linseed increased by 17% to 1.9M tons for the first time since 2019, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, linseed exports surged to $1.6B in 2022. In general, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +93.3% against 2018 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 33%. The global exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports By Country

Russia (784K tons) and Kazakhstan (546K tons) were the major exporters of linseed in 2022, finishing at near 41% and 29% of total exports, respectively. It was distantly followed by Canada (167K tons) and Belgium (146K tons), together generating a 16% share of total exports. Poland (63K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +37.4%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Russia ($592M), Kazakhstan ($358M) and Canada ($174M) were the countries with the highest levels of exports in 2022, together comprising 71% of global exports. Belgium and Poland lagged somewhat behind, together accounting for a further 14%.

Poland, with a CAGR of +43.0%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average linseed export price amounted to $825 per ton, increasing by 6.3% against the previous year. Overall, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, linseed export price increased by +67.1% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of 39%. The global export price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Poland ($1,194 per ton), while Kazakhstan ($654 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+5.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform