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.
Analysts’ Views
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.
Competitive Landscape
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
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