Borage Oil Market Expected to Expand at a Steady CAGR through 2025

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.

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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.

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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.

Health Benefits of Borage Oil to Trigger Appreciable Demand from Medical Sector, reports TMR

The rising demand for products such as dietary supplements, cosmetics, and nutraceuticals, which are made from natural ingredients is driving the global borage oil market, states a new report by Transparency Market Research (TMR). The report is titled, ‘Borage Oil Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2023.’ The report includes market dynamics such as drivers, restraints, opportunities, and trends impacting the borage oil market worldwide. The report also discusses the vendor landscape, including aspects such as market positioning of key players, their recent developments, and competitive strategies adopted by them. Key segments of the global borage oil market have also been studied.

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The use of borage oil for weight loss and reducing inflammation is the prime reason behind their heightened demand. Borage oil has extraordinary anti-inflammatory properties, making it a preferred ingredient for use in skin ointments and cosmetics, thus driving their market. Borage oil is also used for direct human consumption as a food supplement or through capsules, which is expected to fuel its demand in the coming years. The gamma linolenic acid (GLA) present in borage oil has many desirable properties beneficial to health, which is in turn expected to bolster the demand for this oil.

Growing awareness regarding the use of natural ingredients in food products and pharmaceuticals are expected to trigger a demand for borage oil. However, recommendations such as the one by German Federal Health Agency regarding limiting the consumption of borage oil to not more than 1mg per day will dampen its demand.

On the basis of application, the demand for borage oil is significant from the medical segment. The rising incidences of obesity, premenstrual syndrome, eczema, cough, stroke, rheumatoid arthritis, depression, heart disease, asthma, and diabetes are fueling the demand for borage oil capsules and supplements, thus driving the medical segment.

On the basis of geography, Asia Pacific accounts for a significant share in the market owing to the rapid increase in the demand for nutraceuticals, pharmaceuticals, and cosmetics in the region. Analysts have observed that majority of the demand is expected to come from the emerging nations such as Indonesia, China, and India. Canada and the U.K. enjoy favorable weather conditions where quality borage can be produced at a relatively lower cost as compared to other countries. However, unpredictable rains and frost in the region can result in drastic raw material supply fluctuations for borage oil production.

The global borage oil market is fragmented in nature. Key companies operating in the market are focusing on gaining a competitive edge by obtaining high quality seeds with high GLA content. Key companies profiled in the report are Nordic Naturals, Desert Whale Jojoba Company, and AOS Products Pvt. Ltd. 

Borage Oil Market - Global Industry Analysis, Trends ,Forecast 2016 – 2023

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.

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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.