Borage Oil Market To Reach USD 61.6 Million By 2027 | Reports and Data
March 16, 2020 - 3:00 PM EDT
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Borage Oil Market To Reach USD 61.6 Million By 2027 | Reports and Data
Growing demand from the cosmetic industry is one of the significant factors influencing the market growth.
New York, March 16, 2020 (GLOBE NEWSWIRE) -- The global borage oil market is expected to reach USD 61.6 Million by 2027, according to a new report by Reports and Data. The growth of the market may be attributed to the growing application of borage oil amongst the end-use industries.
Growing demand for borage oil from the cosmetics and the personal care industry is one of the significant factors influencing the market growth. Borage oil finds both internal and topical usage for the treatment of inflammation. Borage Oil has a very high level of Gamma-Linolenic Acid (GLA), a vital fatty acid, which cannot be produced by the human body. The protective characteristics of borage oil aids to seal the moisture and maintain the suppleness of the skin. It is beneficial in shooting and healing dry skin, which may be blended with other rich oil for added hydration. Moreover, if a person skin is vulnerable to inflammation redness, or rosacea, borage oil is beneficial in providing relief from the condition.
Increasing demand for borage oil in pharmaceutical applications is fuelling the market demand. Borage seed oil is a kind of nutritional supplement, which has a high volume of essential fatty acids helpful in regulating the immune system of the human body along with combating joint inflammation. It has been found that borage seed oil may provide relief from the symptoms of rheumatoid arthritis. When taken internally through the oral route, borage oil finds usage in treating treat both short term and long term conditions comprising stress, PMS symptoms, hormonal imbalance, diabetes, and rheumatoid arthritis pain. Also, it has been used to reduce inflammation, menopause symptoms, and stimulate breast milk production.
Further key findings from the report suggest
By forms, oil contributed to a substantial market share in 2018. The oil form is suitable for topical application on hair and skin.
By distribution channel, Online channel is projected to grow at a faster rate of 5.7% in the forecast period, as online distribution channels help manufacturers in reaching customers over a larger geographic area.
By application, the pharmaceutical applications contributed to the largest market share in 2018. Borage oil finds application for skin disorders such as a rash on the scalp (seborrheic dermatitis), eczema (atopic dermatitis), and a particular skin condition known as neurodermatitis, among others.
The Asia Pacific region dominated the market in 2018 and is likely to grow at a rate of 5.6% in the forecast period. The market dominance of the Asia Pacific region owing to the growth of industries such as pharmaceutical and cosmetics industries, among others. Moreover, a rise in the level of the disposable income of people especially in developing countries such as China and India is causative of the growth of the market in the region.
Key participants include Connoils LLC, Icelandirect Inc., AOD Products Pvt. Ltd., K. K. Enterprise, Premium Crops Ltd., Aromex Industry, Avsetia Pharma, Nordic Naturals, Desert Whale Jojoba Company, William Hodgson & Co., among others.
For the purpose of this report, Reports and Data have segmented the global borage oil market on the basis of forms, distribution channel, application, and region:
Forms Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Oil
Capsule
Gels
Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Online
Offline
Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
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