The global Borage Oil for Pharmaceuticals 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.
Top Companies Operating in the Global Borage Oil for Pharmaceuticals Market Report:
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.
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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.
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For the purpose of helping readers make profitable business decisions, the report is written with industry analysts, market segmentation, and data collection. In addition to providing detailed information on technical and product advances, this report also discusses market value, growth rates, and niche market segments in detail.
An analysis of the Borage Oil for Pharmaceuticals Market has been carried out by segmenting it into key regions and offering information on growth rates, market shares, current and emerging trends, production and consumption ratios, analysis of the industrial chain, demand and supply, imports and exports, revenue contributions, and the presence of key players in each region. To gain a better understanding of the regional spread of and progress of the Borage Oil for Pharmaceuticals Market, a country-by-country analysis of the market is provided in the report.
The global Borage Oil for Pharmaceuticals Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Forms Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Food Beverages
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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