Nature’s Secret: The Rising Demand for Borage Oil
The global borage oil market is expected to reach USD 54.9 million by 2024, according to a new report by Grand View Research, Inc. Increasing demand for natural ingredient-based cosmetics, nutraceuticals and dietary supplements are expected to foster the market growth over the forecast period. Gamma linolenic acid (GLA) rich borage oil also possesses extraordinary anti-inflammatory properties, which makes it a preferred ingredient for cosmetics and skin ointments. Borage oil is also used for direct human consumption through capsules or as a food supplement. Canada and the UK enjoy strategic advantage of high altitude and favorable weather where borage growers can grow good quality seeds at comparatively lower cost than the other countries. However, the crop has a high risk of failure due to unpredictable rains and frost in the region which results in drastic raw material supply fluctuations for borage oil production. Medical emerged as the leading application s...