Market Revenue Borage Oil Industry Application Movement Analysis

Borage Oil Industry Application Movement Analysis, Product,
Outlook By 2024
“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.”
Industry Insights
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.
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