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Global Borage Oil Market Analysis and Forecast 2022-2032

Report ID:583Chemicals & Materials250 pages

Borage Oil Market Statistics

The global borage oil market is anticipated to grow at a CAGR of 5.6% between 2016 to 2024.

The market was valued at USD41.6 billion in 2019 and is estimated to reach a valuation of USD54.9 billion by 2024.

The borage oil’s application in breast pain, arthritis, and various other inflammation might drive the global borage oil market in the future.

Further, the increasing adoption of herbal medicines or side effects free therapies is projected to pave the way for growth potentials in the global borage oil market in the coming years.

Skin Care Sector to Boost the Demand for Borage Oil

Borage oil is a boon to skincare due to its applications in diseases such as psoriasis, dermatitis, eczema, and rosacea. It also helps in calming acne and redness. Further, it is also used as a nourishing oil for skin and it does not feel heavy like other oils, neither it feels greasy. These applications and their benefits are expected to increase the demand for borage oil.

Moreover, borage oil also cures hangovers, owing to the expansion of the global borage oil market in the coming years.

Dry skins will get a lot of benefit from it and it comes in supplement form as well as oil form, which further enhances the growth potential for the growth borage oil market in the coming years.

Global Borage Oil Market Share By Region Type

Therapeutic Properties to Drive Borage Oil Market

Borage oil contains high gamma-linolenic acid content (GLA), and the health and therapeutic sector is leveraging the borage seeds and oils in different ways to address many pressing diseases.

Borage oil is used in atherosclerosis treatment, an inflammatory disorder which results in function loss of the arterial endothelium. However, borage oil helps in treating plasma very-low-density lipoproteins levels and inflammation.

Further, borage oil offers therapeutic effects for a disease like rheumatoid arthritis. In rheumatoid arthritis, the Tumor necrosis factor-α (TNF-α) increases inflammation and borage oil is believed to reduce the same, owing to the growth opportunities for the global borage oil market in the years to come.

Fluctuations in the supply chain of raw materials and price fluctuations are projected to hinder the growth of the global borage oil market during the forecast period.

Nonetheless, rising investments in research and development to find its medicinal properties is anticipated to bolster the growth potential in the global borage oil market.

Anti-inflammatory Properties to Boost Medical Segment

On the basis of application, the global borage market is segmented into – the medical and dietary supplements segments. But the medical segment is expected to hold a significant share in the global borage oil market during the forecast period. The growth can be attributed to its anti-inflammatory properties and its therapeutic properties for diseases such as eczema, psoriasis, rheumatoid arthritis, heart diseases, etc.

Further, the European market is expected to boost the demand due to its application in the skincare industry.

The dietary supplement market is anticipated to grow at a moderate rate, owing to the trend of awareness and acceptance of the dietary benefits of borage oil. The dietary supplements are available in capsules, powder, and oil forms. The capsule and powder forms are consumed for GLA content. Further, the fitness industry is expected to boost the demand for borage oil.

The increasing investment in research and development to identify medical potential is expected to boost the growth opportunities in the global borage oil market during the forecast period.

Sustainability to Boost Asia Pacific Market

In terms of regional growth, Asia Pacific is anticipated to hold a larger share in the global borage oil market. The growth in the region can be attributed to the growing adoption of sustainable and natural supplements. The demand for borage oil is expected from emerging economies such as China and India.

North America is expected to witness moderate growth in the coming years, this growth can be accounted primarily for to demand for borage oil as a functional food and dietary supplements.

Europe on the other hand is anticipated to be an emerging market due to the borage oil’s application in skincare and cosmetic products. Increasing adoption of natural and organic cosmetics is expected to drive growth in the region. Furthermore, the European borage crop is cultivated for medicinal and culinary uses.

Competitive Landscape

The global borage oil market is competitive and fragmented in nature due to the presence of many mid-sized and small-scale manufacturers. The companies are focusing on sourcing the best quality seeds and expanding their market penetration in other untouched regions.

In March 2019, Food and Drug Administration (FDA) approved GLA content up to 40% in dogs’ and cats’ nutritional supplements. Borage oil has the highest GLA content and is used in most nutritional supplements.

Some of the players in the borage oil market include-

  • Aromex Industries
  • AOS Products Pvt. Ltd.
  • Soyatech International Pvt. Ltd
  • Nordic Naturals
  • Desert Whale Jojoba Company
  • K. K. Enterprise
  • AOS Products Pvt. Ltd.
  • Oilseed Extraction
  • celandirect Inc.

Application Outlook

  • Cosmetics
  • Medicals
  • Dietary Supplementation

Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Frequently Asked Questions

What is the size of the global borage oil market?

The global borage market is estimated to reach a valuation of USD54.9 billion by the end of the forecast period.

What would be the growth rate of the borage oil market during the forecast period?

The borage oil market is expected to grow at a CAGR of 5.6% from 2019 to 2024.

What are the primary factors driving the global borage oil market in the coming years?

Therapeutic properties and dietary supplements are the major drivers of the global borage oil market in the coming years.

How is the competition in the borage oil market?

The borage oil market is fragmented and competitive due to the presence of many small players in the market.

Table Of Content

1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations

2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations

3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics

4. Global Borage Oil Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) & Volume (Units) Projections, 2022-2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis

5. Global Borage Oil Market Analysis 2017-2021 and Forecast 2022-2032, By Application
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Application, 2017-2021
5.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Application, 2022-2032
5.3.1. Cosmetics
5.3.2. Medicals
5.3.3. Dietary Supplementation
5.4. Y-o-Y Growth Trend Analysis By Application, 2017-2021
5.5. Absolute $ Opportunity Analysis By Application, 2022-2032

6. Global Borage Oil Market Analysis 2017-2021 and Forecast 2022-2032, By Region
6.1. Introduction
6.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Region, 2017-2021
6.3. Current Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Region, 2022-2032
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. East Asia
6.3.5. South Asia
6.3.6. Oceania
6.3.7. MEA
6.4. Market Attractiveness Analysis By Region

7. North America Borage Oil Market Analysis 2017-2021 and Forecast 2022-2032, By Country
7.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
7.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
7.2.1. By Country
7.2.1.1. U.S.
7.2.1.2. Canada
7.2.2. By Application
7.3. Market Attractiveness Analysis
7.3.1. By Country
7.3.2. By Application
7.4. Key Takeaways

8. Latin America Borage Oil Market Analysis 2017-2021 and Forecast 2022-2032, By Country
8.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
8.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
8.2.1. By Country
8.2.1.1. Brazil
8.2.1.2. Mexico
8.2.1.3. Argentina
8.2.1.4. Chile
8.2.1.5. Peru
8.2.1.6. Rest of Latin America
8.2.2. By Application
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Application
8.4. Key Takeaways

9. Europe Borage Oil Market Analysis 2017-2021 and Forecast 2022-2032, By Country
9.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
9.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
9.2.1. By Country
9.2.1.1. Germany
9.2.1.2. Italy
9.2.1.3. France
9.2.1.4. U.K.
9.2.1.5. Spain
9.2.1.6. Russia
9.2.1.7. BENELUX
9.2.1.8. Rest of Europe
9.2.2. By Application
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Application
9.4. Key Takeaways

10. East Asia Borage Oil Market Analysis 2017-2021 and Forecast 2022-2032, By Country
10.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
10.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
10.2.1. By Country
10.2.1.1. China
10.2.1.2. Japan
10.2.1.3. South Korea
10.2.2. By Application
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Application
10.4. Key Takeaways

11. South Asia Borage Oil Market Analysis 2017-2021 and Forecast 2022-2032, By Country
11.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
11.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
11.2.1. By Country
11.2.1.1. India
11.2.1.2. Thailand
11.2.1.3. Malaysia
11.2.1.4. Indonesia
11.2.1.5. Rest of South Asia
11.2.2. By Application
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Application
11.4. Key Takeaways

12. Oceania Borage Oil Market Analysis 2017-2021 and Forecast 2022-2032, By Country
12.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
12.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
12.2.1. By Country
12.2.1.1. Australia
12.2.1.2. New Zealand
12.2.2. By Application
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Application
12.4. Key Takeaways

13. MEA Borage Oil Market Analysis 2017-2021 and Forecast 2022-2032, By Country
13.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
13.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
13.2.1. By Country
13.2.1.1. GCC
13.2.1.2. Rest of MEA
13.2.2. By Application
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Application
13.4. Key Takeaways

14. Key Countries Borage Oil Market Analysis
14.1. U.S.
14.1.1. Pricing Analysis
14.1.2. Market Share Analysis, 2021
14.1.2.1. By Application
14.2. Canada
14.2.1. Pricing Analysis
14.2.2. Market Share Analysis, 2021
14.2.2.1. By Application
14.3. Brazil
14.3.1. Pricing Analysis
14.3.2. Market Share Analysis, 2021
14.3.2.1. By Application
14.4. Mexico
14.4.1. Pricing Analysis
14.4.2. Market Share Analysis, 2021
14.4.2.1. By Application
14.5. Argentina
14.5.1. Pricing Analysis
14.5.2. Market Share Analysis, 2021
14.5.2.1. By Application

15. Market Structure Analysis
15.1. Competition Dashboard
15.2. Competition Benchmarking
15.3. Market Share Analysis of Top Players
15.3.1.  By Regional
15.3.2.  By Application

16. Competition Analysis
16.1. Competition Deep Dive
16.1.1. Aromex Industries
16.1.1.1. Overview
16.1.1.2. Product Portfolio
16.1.1.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
16.1.1.4. Sales Footprint
16.1.1.5. Strategy Overview
16.1.1.5.1. Marketing Strategy
16.1.1.5.2. Product Strategy
16.1.1.5.3. Channel Strategy
16.1.2. AOS Products Pvt. Ltd.
16.1.2.1. Overview
16.1.2.2. Product Portfolio
16.1.2.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
16.1.2.4. Sales Footprint
16.1.2.5. Strategy Overview
16.1.2.5.1. Marketing Strategy
16.1.2.5.2. Product Strategy
16.1.2.5.3. Channel Strategy
16.1.3. Soyatech International Pvt. Ltd
16.1.3.1. Overview
16.1.3.2. Product Portfolio
16.1.3.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
16.1.3.4. Sales Footprint
16.1.3.5. Strategy Overview
16.1.3.5.1. Marketing Strategy
16.1.3.5.2. Product Strategy
16.1.3.5.3. Channel Strategy
16.1.4. Nordic Naturals
16.1.4.1. Overview
16.1.4.2. Product Portfolio
16.1.4.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
16.1.4.4. Sales Footprint
16.1.4.5. Strategy Overview
16.1.4.5.1. Marketing Strategy
16.1.4.5.2. Product Strategy
16.1.4.5.3. Channel Strategy
16.1.5. Desert Whale Jojoba Company
16.1.5.1. Overview
16.1.5.2. Product Portfolio
16.1.5.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
16.1.5.4. Sales Footprint
16.1.5.5. Strategy Overview
16.1.5.5.1. Marketing Strategy
16.1.5.5.2. Product Strategy
16.1.5.5.3. Channel Strategy
16.1.6. K. K. Enterprise
16.1.6.1. Overview
16.1.6.2. Product Portfolio
16.1.6.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
16.1.6.4. Sales Footprint
16.1.6.5. Strategy Overview
16.1.6.5.1. Marketing Strategy
16.1.6.5.2. Product Strategy
16.1.6.5.3. Channel Strategy
16.1.7. AOS Products Pvt. Ltd.
16.1.7.1. Overview
16.1.7.2. Product Portfolio
16.1.7.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
16.1.7.4. Sales Footprint
16.1.7.5. Strategy Overview
16.1.7.5.1. Marketing Strategy
16.1.7.5.2. Product Strategy
16.1.7.5.3. Channel Strategy
16.1.8. Oilseed Extraction
16.1.8.1. Overview
16.1.8.2. Product Portfolio
16.1.8.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
16.1.8.4. Sales Footprint
16.1.8.5. Strategy Overview
16.1.8.5.1. Marketing Strategy
16.1.8.5.2. Product Strategy
16.1.8.5.3. Channel Strategy
16.1.9. Icelandirect Inc.
16.1.9.1. Overview
16.1.9.2. Product Portfolio
16.1.9.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
16.1.9.4. Sales Footprint
16.1.9.5. Strategy Overview
16.1.9.5.1. Marketing Strategy
16.1.9.5.2. Product Strategy
16.1.9.5.3. Channel Strategy

17. Assumptions & Acronyms Used

18. Research Methodology

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