Global Borage Oil Market is Expected to Grow at a CAGR of 4.7% during the Forecast Period 2020-2027

The borage oil market is expected to grow from USD 42.29 million in 2019 to USD 61.08 million by 2027, at a CAGR of 4.7% during the forecast period 2020-2027.

NEWARK, UNITED STATES, NEW JERSEY, August 26, 2021 /EINPresswire.com/ — A new research report published by Fior Markets with the title Borage Oil Market by Form (Gels, Capsules, Oils), Distribution Channel (Offline, Online), Application (Food & Beverages, Cosmetics, Pharmaceutical), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.

The global borage oil market is expected to grow from USD 42.29 million in 2019 to USD 61.08 million by 2027, at a CAGR of 4.7% during the forecast period 2019-2027. North America and Asia-Pacific holds the largest share of the global borage oil market. Increased use of food additives products, dietary supplements are driving the borage oil market. Increased awareness of health benefits and bio-based products, mainly cosmetics, are contributing to the growth of borage oil market.

Key players in the global borage oil market are Now Foods, Deve Herbs, Nature's Way, Spring Valley Herbs, Natural Factors, Green Life and NutriPlex Formulas. Key players are emphasizing more on research and development to cater to the increased demand of borage oil. Technological advancements and innovations are also contributing in generating the need for the market.

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The form segment includes Gels, Capsules and Oils. Capsules are expected to generate higher growth in the forecast years as it is used in nutritional supplements. The Distribution Channel includes offline and online. Offline channel is more preferred as it enables direct connections with customers, leading to customer loyalty.

The application segment includes food & beverages, cosmetics and pharmaceutical. Borage oil is also used in an aromatherapy, massage and spa. It is used to reduce skin problems. Borage oil has an application in culinary practices also. It is extracted by cold-pressing the borage seeds as well as heat fusion. However, Nutritional values are lost in heat-fusion. Hence, cold-pressing of the seeds is preferred. Pharmaceutical products hold the largest share of borage oil. It is used in curing various types of diseases such as hormone problems, stress and depression, lungs inflammation, nervous system function, cold and treatments of bronchitis. Demand for pharmaceutical products is increasing.

Borage oil has a wide range of applications like arthritis, rosacea, menopause, eczema, cardiovascular disease, breast pain, acne and inflammation. It has health benefits as well as medicinal values. Borage oil has a property to blend with other oils. The global borage oil market is driven by increased demand for herbal and natural cosmetics as well as personal care products. Hectic work culture and change in lifestyle are resulting in depression and stress, generating higher demand for pharmaceutical products consists of borage oil.

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About the report:
The global borage oil market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on a global, regional, and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insight into the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.

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Source: EIN Presswire