The linseed oil market was valued at US$745.770 million in 2020 and is expected to grow at a CAGR of 3.22% over the forecast period to reach a total market size of US$931.227 million by 2027.
Linseed oil is an essential oil derived from flaxseeds that undergoes a solvent extraction process and is used in pharmaceuticals, cosmetics, food, and beverage, flooring, paint, and varnish industries. When this oil is blended with solvents or resins, it can polymerize into solid forms and act as an excellent impregnator. There is an increasing demand for effective polymer-forming materials due to the highly widespread use of tempering and catalyzed curing in manufacturing. Moreover, production investments and higher pharmaceutical research and development expenditures are also projected to drive market growth in the near future. Growing awareness about the health benefits of linseed oil has also been fueling market growth. As a result of these benefits, linseed oil is widely being used across the food, pharmaceutical, and cosmetic industries. In addition, with flaxseed's prominent insertion into energy bars, cereals, and crackers, its demand is expected to grow rapidly throughout the forecast period. An expansion of the industry will also be pushed due to the increasing demand for animal feed.
As far as application growth is concerned, painting and coatings will grow substantially. Increasing adoption of linseed oil into vehicles and buildings, as well as broader opportunities for application in paints & coatings, is also expected to broaden the opportunities for the key market players.
In recent years, linseed oil has gained increased popularity as consumers' nutritional intake has risen. With the rising prevalence of gallstones and heart disease, and mounting concerns over cholesterol and blood pressure levels, there is a growing need for healthy food intake. Linette*®, a blend of wheat flour and specially prepared linseed flour, is marketed and sold by LoveLinseed in the UK. In addition to replacing or supplementing wheat flour in cakes, bread, biscuits, desserts, and a variety of other uses, Linette*® provides an enhanced Omega-3 content. Since 2018, roughly 15% of the UK's current linseed crop has been sown with VT50 (also called NuLin50), a linseed variety that contains Ultra High Omega-3 fatty acids. A company based in Mumbai has launched 100% vegetarian Flaxseed with Tocopherol capsules. Omega 3 fatty acids are found in large quantities in flaxseed oil. Generally, Omega 3 fats are often missing from regular Indian diets, especially those that are vegetarian. Omega 3 is considered a "good fat" for heart, skin, and joint health. Natural Vitamin E (tocopherol) is included in BestSource Nutrition's Flaxseed oil capsules, so they are even more effective in assisting with heart, skin, and hair health. Such new launches have boosted the market for linseed oil.
Since consumers are increasingly turning towards organic cosmetic products, linseed oil is becoming an effective substitute as it contains alpha-linolenic acid and vitamin E, two substances that are lacking in synthetic products. As a result of this, the adoption of linseed oil by the cosmetic industry has proliferated due to its combination of anti-inflammatory, wound healing, and regenerative properties. The increasing reliance on these products to drive market growth is expected to fuel the proliferation of the market. Linseed oil is commonly used in shampoos, moisturizers, and facemasks. The Moisture Miracle Collection from African Pride is one such example. Among the products in this collection were Shea Butter & Linseed Oil Moisturize & Define Curling Cream. In another example, St Botanica has introduced a purple shampoo and conditioner that are India's first in the field. GO Purple Shampoo - Purposefully formulated for blonde and bleached hair, it is composed of Linseed Oil, Purple Mica, and Sunflower Oil, which effectively preserves color-treated hair for many years to come. Such cosmetic product launches have boosted the market growth for linseed oil.
The oil is generally a slow-drying liquid with enhanced properties of preservation and protection against water. Linseed oil can be used as a wood preservative however the longer drying time is a limitation when used on items handled or walked on, such as furniture or decks. Due to the availability of synthetic paints for fast drying and enhanced protection of surfaces, as well as their low costs, alkyd resins have replaced linseed in some areas, thereby restricting the market growth.
Considering the imposition of nationwide lockdowns and social distancing policies in various countries, the current COVID-19 pandemic has had a major impact on the global economy. In addition to the stalled production operations and the shortage of raw materials and labor, there were also enormous repercussions associated with the growing infection rate. Although, increased consumer awareness about health and hygiene during the pandemic, as well as the growing consumption of nutritional components, will likely contribute to the market's expansion.
|Market size value in 2020||US$745.770 million|
|Market size value in 2027||US$931.227 million|
|Growth Rate||CAGR of 3.22% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments covered||Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Gustav Heess GmbH, Cargill, Incorporated, Archer Daniels Midland Company, AOS PRODUCTS, Livos Canada|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the linseed oil market size by 2027?
A1. The global linseed oil market is expected to reach a market size of US$931.227 million by 2027.
Q2. What is the size of the global linseed oil market?
A2. Linseed Oil Market was valued at US$745.770 million in 2020.
Q3. What are the growth prospects for the linseed oil market?
A3. The linseed oil market is expected to grow at a CAGR of 3.22% over the forecast period.
Q4. Who are the major players in the linseed oil market?
A4. Prominent key market players in the linseed oil market include Gustav Heess GmbH, Cargill, Incorporated, Archer Daniels Midland Company, AOS PRODUCTS, Livos Canada, among others.
Q5. What factors are anticipated to drive the linseed oil market growth?
A5. Growing awareness about the health benefits of linseed oil has fuelled market growth.
Gustav Heess GmbH
Archer Daniels Midland Company
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