Borage oil is extracted from the seeds of Borago or starflower. Borago is an herb mostly found in the Mediterranean region but grown in many other countries. It is highly used by the customers due to high ratio of gamma linoleic acid, which helps reduce inflammation and other diseases. The borage oil also acts as a nutritional supplement that increases the immunity of the body. It is also used in pharmaceuticals and cosmetics. It is beneficial for the skin and body as it can be used for inflammation, acne, eczema, breast pain.
Companies covered:
Aromex Industries, Desert Whale Jojoba Company, Connoils LLC., Oilseed Extraction, Nordic Naturals, Icelandirect Inc., Soyatech International Pvt Ltd., AOS Products Pvt. Ltd., William Hodgson & Co.
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COVID-19 Scenario Analysis:
- The COVID-19 pandemic has affected the borage oil market.
- To ensure that losses are minimum, companies are taking initiative to increase the supply through online platforms.
- The trade has affected the financial position of the companies.
- The manufacturers are facing problems due to a lack of supply of the raw material.
- The workers are migrating, which has paused the production process.
- Although there is an increase in the demand, the trade restriction has caused disruption in the logistic network.
- The increase in the time period of lockdown and trade restriction has adversely affected the economy and the companies.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The increase in the hectic working hours have caused anxiety and depression problems. This is one of the factors that drives the growth of the global borage oil market in the pharmaceuticals sector. Changes in lifestyle and rise in awareness of organic products contribute toward the growth of the global market. An increase in demand for natural cosmetic products can boost the growth of the global borage oil market. However, side effects and allergic reactions can be a threat to the growth of the global borage oil market.
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The global borage oil market trends are as follows:
Borage oil is used for hair loss, nail care, and for the improvement of blood circulation. The companies are producing borage oil in small and large quantities. Companies are using white label packaging for the product. Companies are also providing additional customer services, on-time delivery, and affordable prices. The companies are using new technology to improve the ingredient potency.
Key Benefits of the Report:
- This study presents the analytical depiction of the global borage oil industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global borage oil market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global borage oil market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global borage oil market analysis based on competitive intensity and how the competition will take shape in coming years.
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