Borage
Oil Market strategic research study offers company accounts, industry investors,
and industry members with consequential insights to enable them to make
reliable strategic decisions regarding the opportunities in the global market.
Borage Oil Market research
report offers detail overview of industry with all the requisite data to
support tactical business decisions and come up with strategic growth plans.
This study also proposes a comprehensive insight into the development policies
and plans in addition to manufacturing processes and cost structures.
KEY BENEFITS
1. Borage Oil market analysis based on
current industry scenario and expected future trends to enable stakeholders
take strategic decisions.
2. Analysis of the factors impacting the
Borage Oil market to understand business opportunities.
3. Identification of key investment pockets
for various applications, type and geographies.
4. Identification of the Borage Oil market
top key players and their strategic moves.
5. Evaluation of Borage Oil market trends to provide
deep-dive intelligence into every market segment.
6. Competitive analysis to effectively plan
and execute a business plan.
7. Borage Oil market micro-level analysis
based on application, type and geography.
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Global borage oil market
was estimated at 1,500 tons in 2015. Nutraceuticals and bio-based cosmetics are
anticipated to be the key factors influencing market growth over the forecast
period. The global borage oil market is anticipated to reach USD 54.9 million by
2024. High gamma linolenic acid (GLA) content has resulted in high demand for
Borage (starflower) oil despite several other plant oils including evening
primrose oil and black currant seed oil containing GLA and providing similar
health benefits, borage oil has gained prominence owing to higher GLA content
compared to its counterparts. For instance, black current seed oil contains
nearly 14% to 17% and evening primrose contains approximately 10% to 15%. On
the other hand, GLA content in borage oil is approximately 20% to 25%. GLA is
rich in omega-6 fatty acid which is essential for the human body, but the human
body is incapable of producing the same by itself which necessitates the
external supply of GLA. Borage oil benefits consumers by effectively treating
and preventing health disorders pertaining to fatty acid metabolism.
Borage crop is cultivated
in several countries for its seed oil. Majorly produced in Canada, New Zealand
and the UK, in earlier times it was considered to belong only to the Mediterranean
region. The borage oil production varies widely with some years of oversupply
and some years of under-supply. Canada, which is one of the major borage seed
producers has been highly unstable in the recent times. Favorable weather
conditions in Canada have benefitted borage growers to a great extent as it
helps them grow good quality seeds at lower costs. Nevertheless, there is a
high risk of crop failure due to erratic early frost in the region. Borage seed
prices lie in the range of USD 2.5 to 4 per kg and the production varies
between 500 to 2000 tons per annum. Such high variations in the raw material
supply and their prices are anticipated to be the major restraining the factor
affecting market growth.
Market Segmentation
Global Borage Oil Application
Outlook (Volume, Tons; Revenue, USD Thousand, 2014 - 2024)
• Cosmetics
• Medical
• Dietary Supplements
• Others
Global Borage Oil Regional
Outlook (Volume, Tons; Revenue, USD Thousand, 2014 - 2024)
• North America
• U.S.
• Europe
• Germany
• France
• UK
• Asia Pacific
• China
• India
• Japan
• Middle East & Africa
• Central & South America
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