Global Borage Oil Market: Overview
The increasing demand for cosmetics, dietary supplements, and nutraceuticals made from natural ingredients is boosting the global borage oil market. Borage oil is rich in gamma linolenic acid (GLA) hence possesses extraordinary anti-inflammatory properties. This makes it a preferred ingredient for use in skin ointments and cosmetics. Borage oil is also used for direct human consumption as a food supplement or through capsules.
Borage oil is obtained by pressing seeds of borage plants. Borage grows wildly throughout North America and Europe. GLA present in borage oil is rich in fatty acids that body converts to prostaglandin, which acts like a hormone. Prostaglandin has anti-inflammatory properties that help in dilating blood vessels.
Borage oil has proven to aid weight loss. Borage oil also helps in reducing the overall inflammation in the body. Thus it is considered to aid in weight loss programs, which is a prime factor driving the demand for borage oil worldwide. Furthermore, GLA’s other health properties that bolster demand for borage oil are documented more widely than its role in dieting.
The report presents an in-depth analysis of the global borage oil market. It provides a comprehensive overview of the market including classifications based on various parameters, industry chain structure, and applications. The impact of the recent development plans and policies on the overall market operations is also studied in the report in detail.
Global Borage Oil Market: Key Opportunities and Threats
In terms of application, the market witnessed the highest demand from the medical segment. The increasing demand for borage oil supplements and capsules for the treatment of diseases such as obesity, eczema, rheumatoid arthritis, premenstrual syndrome, cough, stroke, depression, diabetes, heart disease, asthma, and others. Borage oil is also used in nutraceuticals and anti-inflammatory drugs and ointments where it is either consumed directly or in combination with other base oils.
The implementation of favorable regulations encouraging the use of natural ingredients in cosmetics, pharmaceuticals, and other food applications is driving the global borage oil market. Earlier, the cultivation of borage crop was limited only to the Mediterranean region, but now it is cultivated for seed oil extensively across New Zealand, Canada, and the U.K. Of these, Canada and the U.K. have emerged as the largest producers of borage oil since they enjoy the strategic advantage of being located at a higher altitude and have favorable weather conditions. Borage oil is therefore available in these countries at a relatively lower cost than other regions.
However, unpredictable rain and frost in these countries can result in drastic fluctuations in raw material supply, which can negatively impact borage oil production.
Global Borage Oil Market: Region-wise Outlook
Regionally, Asia Pacific accounts for the largest share in the global forage oil market. The rapidly increasing demand for cosmetics, pharmaceuticals, and nutraceuticals positively aids the expansion of the borage oil market in the region.
The majority of the leading pharmaceutical and cosmetic manufacturers have identified emerging nations in Asia Pacific such as India, Indonesia, and China as their production hubs. This in turn has fuelled the demand for borage oil from the Asia Pacific. The market is also expected to gain from the surging demand for organic and natural cosmetics in North America.
Global Borage Oil Market: Competitive Insight
The global borage oil market is fragmented in nature due to the presence of many small-scale enterprises. The quality of borage oil depends on its GLA content and seeds obtained from Canada and the UK. Hence a majority of companies strive to gain a competitive advantage by obtaining high-quality seeds.
To study the prevailing competitive landscape in the market, the report also profiles companies such as Desert Whale Jojoba Company, Nordic Naturals, AOS Products Pvt. Ltd., and others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle East and Africa (GCC, Southern Africa, North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.