Global borage oil market was estimated at 1,500 tons in 2015. Nutraceuticals and bio-based cosmetics are anticipated to be the key factors influencing market growth over the forecast period. The global borage oil market is anticipated to reach USD 54.9 million by 2024. High gamma linolenic acid (GLA) content has resulted in high demand for Borage (starflower) oil despite several other plant oils including evening primrose oil and black currant seed oil containing GLA and providing similar health benefits, borage oil has gained prominence owing to higher GLA content compared to its counterparts. For instance, black current seed oil contains nearly 14% to 17% and evening primrose contains approximately 10% to 15%. On the other hand, GLA content in borage oil is approximately 20% to 25%. GLA is rich in omega-6 fatty acid which is essential for the human body, but the human body is incapable of producing the same by itself which necessitates the external supply of GLA. Borage oil benefits consumers by effectively treating and preventing health disorders pertaining to fatty acid metabolism.
Download Free Sample Report @ https://www.millioninsights.com/industry-reports/borage-oil-market/request-sample
Borage crop is cultivated in several countries for its seed oil. Majorly produced in Canada, New Zealand and the UK, in earlier times it was considered to belong only to the Mediterranean region. The borage oil production varies widely with some years of oversupply and some years of under-supply. Canada, which is one of the major borage seed producers has been highly unstable in the recent times. Favorable weather conditions in Canada have benefitted borage growers to a great extent as it helps them grow good quality seeds at lower costs. Nevertheless, there is a high risk of crop failure due to erratic early frost in the region. Borage seed prices lie in the range of USD 2.5 to 4 per kg and the production varies between 500 to 2000 tons per annum. Such high variations in the raw material supply and their prices are anticipated to be the major restraining the factor affecting market growth.
Application Insights
In 2015, medical application segment constituted for more than 35.0% of the overall borage oil demand. Borage oil aids in the treatment of serious diseases including obesity, eczema, rheumatoid arthritis, heart disease, premenstrual syndrome, cough, stroke, depression, asthma and diabetes.
Borage oil is used as a combination with other base oils in the nutraceutical segment. Additionally, it is used as anti-inflammatory drugs. With the market growing at a CAGR of above 5%, along with being the largest segment, the medical sector is anticipated to be the fastest-growing application over the forecast period. Further, borage oil capsules that have several health benefits are also available in the market.
Borage oil is widely used in the cosmetics segment including cleansers, moisturizers, skin care and anti-aging products, hair treatment and body care owing to their antioxidant and anti-inflammatory properties. It is used as food additives in functional foods, meal supplement and breakfast cereals.
Regional Insights
Borage oil has widespread usage across cosmetics and pharmaceuticals industry witness major demand in the Asia Pacific region. Asia Pacific borage oil market dominated the market and contributed to over 30% of overall demand in 2015. This huge demand can be ascribed primarily to growing production levels of pharmaceutical drugs, cosmetics and nutraceuticals. Pharmaceutical and cosmetic manufacturers have been focusing on developing countries such as India, China and Indonesia as their major manufacturing units. This has propelled demand for raw material supplies in the region.
Borage oil market in North America is anticipated to be driven on account of growing demand for natural and organic cosmetics. North America starflower oil market is projected to grow at an estimated CAGR exceeding 5% in the next eight years. Constant efforts by research institutions in order to identify the medical potential of borage oil are anticipated to improve the overall consumption level from 2016 to 2024. Additionally, the region has been concentrating on enhancing starflower oil consumption in food application such as functional food additives and dietary supplements.
Europe is a prime location for borage oil production owing to its favorable soil and weather conditions. High GLA and oil content in UK grown starflower make it the best quality seed available in the market. The presence of large skincare and haircare producers including Unilever and L’Oréal are expected to serve the European market and result in high starflower oil demand over the forecast period. These companies have been emphasizing on bio-based cosmetic development that is expected to augment market demand.
Competitive Insights
Global borage oil industry is fragmented in nature on account of the presence of several small-scale manufacturers. Borage oil manufacturers attempt to procure good quality seeds produced in Canada and UK in order to achieve a competitive edge as high-quality oil is ideal for premium applications. Major borage oil manufacturers include Connoils LLC., Aromex Industries, Desert Whale Jojoba Company, Oilseed Extraction, K. K. Enterprise, Nordic Naturals, AOS Products Pvt. Ltd., IcelandirectInc and Soyatech International Pvt. Ltd.
Market Segmentation
Global Borage Oil Application Outlook (Volume, Tons; Revenue, USD Thousand, 2014 - 2024)
- Cosmetics
- Medical
- Dietary Supplements
- Others
Global Borage Oil Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2014 - 2024)
- North America
- U.S.
- Europe
- Germany
- France
- UK
- Asia Pacific
- China
- India
- Japan
- Middle East & Africa
- Central & South America
Browse Full Research Report with TOC @ https://www.millioninsights.com/industry-reports/borage-oil-market
Table of Contents
Chapter 1 Methodology and Scope
1.1 Research methodology
1.2 Research Scope & Assumptions
1.3 List of data sources
Chapter 2 Executive Summary
2.1 Borage oil - Industry Summary & Key Buying Criteria
Chapter 3 Borage oil Industry Outlook
3.1 Market segmentation
3.2 Market size and growth prospects, 2014 - 2024
3.3 Value chain analysis
3.3.1 Vendor landscape
3.4 Raw material trends
3.5 Regulatory/legislative framework
3.6 Borage oil market dynamics
3.6.1 Market driver analysis
3.6.2 Market restraint analysis
3.7 Key opportunities - Prioritized
3.8 Industry analysis - Porter’s analysis
3.9 Borage oil PESTEL analysis
Continued…
Get in Touch
At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.
Contact Person:
Ryan Manuel
Research Support Specialist, USA
Email: [email protected]
Global Headquarters
Million Insights
Felton Office Plaza 6265 Highway 9 Felton, California 95018, United States
Phone: 1-408-610-2300
Email: [email protected]
Asia Pacific
Million Insights
Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar, Pune, MH, 411016 India
Phone: 91-20-65300184
Borage oil is a very important source of gamma-linolenic acid (GLA) obtained from borago officinali plant seeds which belong to the boraginaceae family.
They are extensively used in applications such as food and beverages, cosmetics, pharmaceutical, others and it is renowned for its health benefits.Worldwide Borage Oil Market report gives by DBMR is the depiction of the Borage Oil Industry – thorough research, The worldwide Borage Oil market research report makes businesses powerful whether it is large, medium or small for thriving and succeeding in the market.
Competitive intelligence included in the report is a further very important aspect that assists businesses top the market.
The transparent, consistent and extensive market information of this industry analysis report will definitely develop the business and perks up return on investment (ROI).Request a Sample of Borage Oil Industry from @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-borage-oil-marketThe features or parameters covered in this report help to take the business towards the development and success.
Ltd, ConnOils LLC, Desert Whale Jojoba Company, Icelandirect, Inc., Parchem Fine & Specialty Chemicals, Premium Crops, William Hodgson and Co, Avestia Pharma, Soyatech International Pvt.
Ltd., Massinvestor, Inc, Deve Herbes, Nature’s Way Products, LLC, Natural Factors Nutritional Products Ltd.Additionally, the report has various advantages due to deeply analyses significant features in major developing markets.
The global borage oil market is anticipated to reach USD 54.9 million by 2024.
High gamma linolenic acid (GLA) content has resulted in high demand for Borage (starflower) oil despite several other plant oils including evening primrose oil and black currant seed oil containing GLA and providing similar health benefits, borage oil has gained prominence owing to higher GLA content compared to its counterparts.
GLA is rich in omega-6 fatty acid which is essential for the human body, but the human body is incapable of producing the same by itself which necessitates the external supply of GLA.
Majorly produced in Canada, New Zealand and the UK, in earlier times it was considered to belong only to the Mediterranean region.
The borage oil production varies widely with some years of oversupply and some years of under-supply.
Such high variations in the raw material supply and their prices are anticipated to be the major restraining the factor affecting market growth.
Esticast Research & Consulting adds a new research report titled, ‘Global Borage Oil Market’ to its huge database of research reports.
The benefits offered by borage oil such as its anti-inflammatory effect, ability to cure long-term and short-term illnesses like skin disorders & hormonal imbalances are the determinants fuelling the growth of the borage oil market.
The domain experts who have planned the report have thoroughly studied the global Borage Oil market and have catered reliable and accurate data.They recognize the needs of the industry and the clients, which makes it simple for them to focus on the aspects, which the clients have been looking for.
The research report comprises of an analysis of an evaluation of the existing and upcoming trends that companies can invest in.
Furthermore, it also includes an assessment of the financial outlooks of the players and explains the scenario of the competition.Research MethodologyThe research methodology of the market is based on both primary as well as secondary research data sources.
It commits different factors affecting Borage Oil industry such as market environment, different policies of the government, historical data and market trends, technological advancements, forthcoming innovations, market risk factors, market restraints, and obstacles in the industry.Competitive Landscape:The key players' profile in the report includesOilseed ExtractionConnoils LLC.Nordic NaturalsAromex IndustriesSoyatech International Pvt.
Seeds from these plants have shown several beneficial characteristics to human health.
These seeds are later used to make borage oil which is known to be a rich source of gamma-linoleic acid, a type of essential fatty acid required by the body.
Some of the health conditions it helps with are mentioned below-Rheumatoid Arthritis- Borage oil shows a promising improvement in the health of people who have rheumatoid arthritis.
It is an autoimmune disorder marked by the inflammation in the lining of the joints.
Borage oil is known to ease the tenderness and swelling in people with rheumatoid arthritis.
The growth of premature infants- several studies have acknowledged the positive effects of borage oil in the healthy growth and development of the nervous system in infants born early.
