Borage oil is derived from borage or starflower is wildflower from the Boraginaceae family or extracted from seeds of borage. Borage oil is golden-yellow in color and has a faintly pleasant odor. It is well-known for its various medicinal values and health benefits.
Borage is a herb native to Syria but now a day grows well throughout North Africa, the Middle East, Europe, South America, and many other regions. Borage is identified by its bright blue colored flowers and ferny leaves with white hair and cucumber kind of fruit. Borage flower is also known as bee flower as attracts bees. Borage oil is known for its various benefits since centuries and used as medicine as well as in culinary applications.
Borage oil is known for its skin care properties, medicinal values, and culinary uses etc. It can be well blended with other oils, the richest source of linoleic acid in all other essential oils. Thus, market demand from the various application is higher and growing rapidly.
Borage Oil Market Segmentation:
Borage oil market is segmented on the basis of its applications as pharmaceuticals, cosmetics, food and beverages. Borage oil enjoys a significant share in essential oils market owing to its wide usage in pharmaceutical products. Borage oil has proven beneficial in various disease treatments which include, stress and depression, hormone problems, lungs inflammation, treatments of bronchitis and cold, and nervous system function etc. Owing to these wide benefits market demand from pharmaceutical industry is high. Borage oil is also been popular in aromatherapy since ancient times and also used in spa and massage. It is proven helpful in skin problems such as it can help treat acne, and eczema, it also acts as hair revitalizer, aids weight loss, anti-aging, thus market demand from herbal or natural product based cosmetics is growing. In food and beverage industry Borage oil is used for culinary applications. Borage oil market is further segmented on the basis of extraction methods such as cold-pressing of seeds of the flower and heat-infusion with a carrier oil. Cold-pressing is the better method as in infusion may lead to loss of nutrition. Thus cold-pressed oil is demanded in the market.
Borage oil market is further segmented on the basis region as Latin America, North America, Europe, Asia-Pacific and the Middle East and Africa. A major share of production come from African countries. However, North America, Europe, and Asia-Pacific markets grab major consumption share of borage oil in the global market.
Borage Oil Market Drivers:
Increasing consumer demand for natural cosmetics is a major factor driving market demand for borage oil based skin care products. Changing lifestyle focused more towards relaxation and leisure in the developing region with a simultaneous increase in a number of spa and massage centers and aromatherapy is expected to drive the usage of borage oil. Changing lifestyle and hectic work culture is causing various stress and depression issues driving the growth of medicines related to memory and stress which is in turn expected to drive market demand for borage oil in the pharmaceutical market segment. Various applications of borage oil in the treatment of arthritis, Periodontitis, and multiple sclerosis is another factor fueling the growth of the global borage oil market. Borage oil can boost the transmission of nerve impulses, which may be valuable in treating Alzheimer’s disease. Borage oil is a richest natural source of gamma-linoleic acid, macronutrients, vitamins, and minerals etc. Thus, rising application of Borage oil and growing consumer awareness regarding benefits of it is expected to spur market demand in the developing and developed regions.
Borage Oil Market Key players:
Key market players manufacture and suppliers of borage oil include Deve Herbs, Now Foods, Nature's Way, Natural Factors, Spring Valley Herbs, NutriPlex Formulas, Green Life U.K. etc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
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