Market Overview
The global Borage Oil Market size was valued at USD 53.41 Million in 2024 and is projected to increase to USD 80.61 Million by 2033. The market is expected to expand at a CAGR of 4.31% during the forecast period from 2025 to 2033. The growth is driven by rising demand for natural health products across cosmetics, pharmaceuticals, and dietary supplements.
Study Assumption Years
- Base Year: 2024
- Historical Year/Period: 2019-2024
- Forecast Year/Period: 2025-2033
Borage Oil Market Key Takeaways
- Current Market Size: USD 53.41 Million in 2024
- CAGR: 4.31% from 2025-2033
- Forecast Period: 2025-2033
- North America dominates the market with over 33.5% share in 2024, driven by strong pharmaceutical and cosmetic industries.
- Pharmaceuticals segment leads with around 45.9% market share in 2024, attributable to borage oil's therapeutic benefits.
- Increasing consumer preference for natural remedies and plant-based products is boosting market demand globally.
- Growing incorporation of borage oil in premium skincare and dietary supplements fuels market expansion.
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Market Growth Factors
The borage oil market is driven by the increasing consumer demand for natural and organic products, particularly in skincare and wellness sectors. Its richness in gamma-linolenic acid (GLA), a type of omega-6 fatty acid, delivers anti-inflammatory and moisturizing benefits, making it popular in cosmetics, dietary supplements, and pharmaceuticals. Studies indicate that daily intake of 6–11 grams of borage oil can significantly improve symptoms of rheumatoid arthritis.
The rising popularity of complementary and alternative medicine further propels market growth. Approximately 36.7% of U.S. adults use complementary health approaches, where borage oil is favored for its therapeutic attributes reducing inflammation and enhancing skin health. Support from healthcare professionals and holistic medicine specialists endorses its natural treatment benefits.
The expanding cosmetics and personal care industry also fosters market demand. With the FDA estimating that Americans use 6 to 12 cosmetic products daily, borage oil's anti-inflammatory and skin-enhancing properties position it as an essential ingredient in creams, moisturizers, facial oils, serums, and hair care products. Increasing consumer preference for clean, natural beauty products supports this trend.
Market Segmentation
By Application:
- Pharmaceuticals: Leading segment with approximately 45.9% market share in 2024. Used extensively for inflammatory conditions, skin disorders, and hormonal imbalances due to its high GLA content. It alleviates rheumatoid arthritis, eczema, PMS symptoms, and supports cardiovascular and immune health.
- Cosmetics: Widely incorporated for its skin-soothing, anti-inflammatory properties, improving elasticity and hydration.
- Dietary Supplements: Utilized as a natural anti-inflammatory and nutritional supplement.
- Others: Additional applications capturing emerging demand.
Regional Insights
North America is the dominant region in the borage oil market, with a market share exceeding 33.5% in 2024. The region's leadership stems from robust pharmaceutical, cosmetic, and dietary supplement sectors fueled by consumer demand for natural, plant-based products. Strong distribution networks and heightened awareness of borage oil’s health benefits further strengthen market growth.
Recent Developments & News
- In July 2023, Almora Botanica introduced skincare products featuring 98.5% to 100% natural ingredients, including borage seed extract, aimed at collagen strengthening and skin balance.
- In August 2024, Cefetra and Premium Crops partnered to cultivate and harvest borage seeds producing high-quality borage oil, enhancing sustainability and cooperative sourcing.
Key Players
- AOS Products Pvt. Ltd.
- Aromex Industry
- Avestia Pharma
- ConnOils LLC
- Deve Herbes
- Gustav Heess GmbH
- Icelandirect LLC
- Nature's Way Products LLC (Dr. Willmar Schwabe GmbH & Co. KG)
- Nordic Naturals Inc.
- Parchem Fine & Specialty Chemicals
- Premium Crops Ltd (Cefetra Ltd)
- Soyatech International Pty Ltd
- William Hodgson and Co
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