The global borage oil market is likely to grow at a CAGR of 5.6% during the forecast period from 2016 to 2024. It was valued at USD41.6 billion in 2019 and will reach an estimated value of USD 54.9 billion by 2024.
The rising adoption of borage oil and seeds in natural therapies for various diseases will drive the borage oil market during the forecast period.
Researchmoz elaborates on the global borage oil market in its analysis and report, including market size, growth factors, restraints, regional insights, and competitive edge.
Skin Diseases to Boost the Sales of Borage Oil
The human body is subject to a host of diseases if not taken care of or due to many external factors. Borage oil heals many skin diseases such as eczema, psoriasis, dermatitis, rosacea, etc. Many ointments and medicines use borage oil. Further borage oil is also useful in dealing with dry skin, owing to rising sales of borage oil during the forecast period.
Borage oil comes in capsules and oil form and is also said to be beneficial in curing hangovers.
Atherosclerosis Treatment to Bolster the Demand for Borage Oil
Borage oil has inflammation-reducing properties; thus, the healthcare sector is trying to find its applications in treating some serious health conditions. Borage oil can be useful in treating atherosclerosis, and inflammatory disorder that results in loss of the arterial endothelium. Here, the borage oil treats plasma very-low-density lipoproteins levels also inflammation.
The price fluctuations in the raw material are expected to limit the growth in the global borage oil market.
However, the demand for the dietary supplements vertical of healthcare could boost the demand for borage oil during the forecast period.
Borage oil has high gamma-linolenic acid content (GLA) making them viable for dietary supplements.
It is also used in treating rheumatoid arthritis, by reducing the inflammation caused by the Tumor necrosis factor-α (TNF-α).
Rising awareness about its therapeutic properties and the benefits offered in the dietary supplements will enhance the growth opportunities of the global borage oil market in the coming years.
Asia Pacific market will register the highest growth in the coming years due to growing awareness and demand for natural and sustainable health solutions.
Researchmoz in its comprehensive report explains the competitive landscape and the various strategies adopted by the market players.
The borage oil market is highly competitive and fragmented because of the presence of many small companies. The companies are highly focused on expanding their market penetration by being committed to sourcing premium quality seeds.
The borage oil market players are –
- K. Enterprise
- AOS Products Pvt. Ltd.
- Oilseed Extraction
- Celandirect Inc.
- AOS Products Pvt. Ltd.
- Soyatech International Pvt. Ltd
- Nordic Naturals
- Desert Whale Jojoba Company
- Aromex Industries
The detailed report by Researchmoz puts forth all the aspects of the global borage oil market for the stakeholder to succeed in the business and their growth aspirations by taking the best decisions based on market analysis.
Some of the key takeaways from the detailed report are as follows-
- The borage oil market will exhibit a growth of a CAGR of 5.6% between the period 2016 to 2024. The same would reach the estimated value of USD 54.9 billion by the end of 2024.
- The capsule and powder form has the highest GLA content as compared to oil and even the sports and fitness industry will create a good demand for the borage oil market, in terms of dietary supplements.
- The Asia Pacific will hold the largest share in the global borage oil market. The growth will be due to growing awareness and adoption of natural supplements and therapies.
- North America will also grow alongside, owing to its demand from the dietary and supplements sector.
- Dietary Supplementation
- South Korea
Middle East & Africa (MEA)