Linseed Oil Market Size & Share 2022 to 2028
Market Size by Product Type (Raw Linseed Oil, Stand Oil, Boiled Linseed Oil), by Application (Paints & Varnishes {Paints, Lacquers, Wood Protection}, Food, Animal Nutrition & Care, Cosmetics, Pharmaceuticals) & Forecast.
Report ID: GMI1281
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Published Date: April 2022
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Report Format: PDF
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Authors:
Kiran Pulidindi, Kunal Ahuja
Linseed Oil Market Size
Linseed Oil Market size surpassed USD 2.85 billion in 2021 and is estimated to grow at over 5.5% CAGR between 2021 and 2028. Increasing cultivator attention towards the linseed oil in regular farming practices owing to increasing nutrition consciousness among consumers will propel the product demand. Linseed oil is rich in nutritional contents, which include fats and omega fatty acids, among several others. It is used in various end-use industries such as paints & varnishes, cosmetics, food, animal nutrition, and pharmaceuticals.
Linseed oil is used as a carrier in paint formulations. Additional traits that make the paints more desirable and enhances the product quality. It consists of antioxidants that help to maintain the skin’s moisture content and keeps under concerned parameters. This has boosted the market penetration into the cosmetic segment. The changing consumer perception toward natural ingredients due to the increasing awareness about chemical additives is promoting market growth.
Linseed Oil Market Analysis
The raw linseed oil market is projected to reach over USD 1.25 billion by 2028, growing at a CAGR of over 5 %. Increasing population, growing income levels, and rapid urbanization are expected to increase household & commercial applications, in turn, increasing the demand for raw linseed oils. The rising living standards in developing countries and increasing spending on premium lifestyle are increasing the demand for delicate interior designs, in turn, propelling market share.
Favorable schemes & initiatives undertaken by governments along with manufacturers and suppliers of different countries across the world to encourage organic and advanced farming activities should further raise the product demand. For instance, Key players including Cargill Inc., Jamieson Natural Resources and Henry Lamotte Oils Gmbh are focusing on their dealership expansion to increase the net sales.
Global linseed oil market includes paints & varnishes, animal nutrition & care, pharmaceuticals, foods, cosmetics, and nutraceutical supplements. The global market for linseed oil from food application is anticipated to surpass USD 910 million by 2028 growing at a CAGR of over 5.5%. Linseed oil provides nourishment and enhances the overall health, which is increasing its popularity in the food & supplement industry. Increasing awareness about health benefits of linseed oil is expected to propel the demand for food & nutraceutical supplements during the forecast period.
Rising health consciousness and increasing disposable income have raised the demand for premium supplements and fortified food products, boosting the linseed oil industry demand. Increasing usage of linseed oil as a functional food ingredient in a wide range of food products such as juices, baked foods, muffins, milk & dairy products, dry pasta products, meat products, and macaroni, among other is propelling market outlook over the past few years.
Shift of health-conscious consumer towards healthy diet and food habits have boosted consumption of food products enriched with nutritional ingredients.
Linseed oil has been used for food for centuries in Asia pacific region. High production of flaxseed in China, India, & Australia and the strong presence of linseed oil manufacturers & suppliers in the region are major factors fueling the growth of the linseed oil market in Asia Pacific. Growing awareness regarding the health benefits offered by linseed oil in the pharmaceutical and food industry is anticipated to positively influence the regional market statistics over the projected period.
Rising trends of industrialization and urbanization across emerging countries including China, Indonesia, and India have led to a rapid rise in construction activities, which has generated high demand for linseed oil for its application in painting, flooring, and varnishing. Rising construction investment in the residential building across Asian countries due to the growing population drives demand for paints and varnishes, further escalating linseed oil market forecasts. Additionally, rapid infrastructural growth resulted in the tremendous demand for wood products, which is further is expected to fuel the market demand in Asia Pacific.
Linseed Oil Market Share
Key players in the linseed oil market are
The companies are engaged in extensive research & development to develop innovative products to improve the quality & quantity of poultry meat yield. For instance, in December 2021, Cargill Inc. entered into an agreement with Croda for acquiring the majority of its industrial chemicals and performance technologies for USD 1.03 billion. This will boost the bio-industrial segment of Cargill Inc. by serving the manufacturers requiring greener ingredient solutions.
In April 2021, Vandeputte Oleochemicals completed the construction of the world’s largest linseed oil plant, ASVA, in the Rostov region. This plant is the joint venture of ASTON (Russia) and Vandeputte Oleochemicals. It focuses on technological processing for double pressing linseed oil extraction having a production capacity of around 450 tons per day allowing the company to cater to a greater global demand.
In September 2021, Croda International Plc. opened its crop care product validation center in Brazil for facilitating product development, strengthening its position in the agrochemical market. This strategic development will help in boosting the market of linseed oil owing to its applications in crop care products.
The global linseed oil market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons & revenue in USD Million from 2017 to 2028 for the following segments:
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By Product Type
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The above information has been provided for the following countries:
Research methodology, data sources & validation process
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