Linseed Oil Market To Reach USD 1,036.56 Million By 2028
The global Linseed Oil Market is expected to reach USD 1,036.56 Million by 2028 at a CAGR of 3.35%, according to a new report by Reports and Data. The growing demand from consumers for organic and safe cosmetic products comprising linseed oil owing to its numerous benefits such as skin nourishing and moisturizing attributes is predominately driving the market growth. Additionally, the increasing awareness about the advantages of linseed oil on overall health such as improvement in heart health, reducing inflammation, and anti-aging properties are projected to augment the market growth further.
Linseed oil is extracted from flax seeds that are dried and ripened via a solvent extraction and pressing. Linseed oil is an extremely popular finishing oil across the globe and has been a significant part of certain paints and an excellent binder in oil paintings. The non-toxic and environmentally sustainable attributes of the linseed oil are boosting its demand in the paint and varnishing industry, thereby contributing to the market growth,
The growing demand for organic and nutrition-dense culinary oils is projected to further add traction to the market growth. The health benefits conferred by linseed oil have boosted its applications in the food and beverage industry, cosmetics, and pharmaceuticals. However, certain side effects such as eyes or skin irritation due to linseed oils and the increasing availability of alkyd resins and synthetic paints are projected to impede the market growth in the projected timeframe.
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Key Highlights from the Report:
The organic linseed oil segment is foreseen to expand at a significant rate in the estimated timeframe owing to the escalating demand for organic oil in the cosmetics industry for the production of organic personal care products.
Based on the product type, the raw linseed oil segment is projected to occupy a significant share of the market in the estimated timeline accredited to the augmenting demand for raw linseed oil in the finishing and polishing of wood products. The increasing requirement for non-toxic products in paints and varnishes is driving the segment’s growth.
The paints and varnishes application segment is projected to account for a considerable share of the market in the estimated timeframe attributable to the increasing application of linseed oil to offer durability, transparency, and glossiness to the oil paints. Moreover, the growing demand for safe and durable paints for vehicles is bolstering the segment’s growth.
North America held the largest share of the global market in 2020 and is estimated to retain its dominance in the timeframe owing to the increasing demand for linseed oil for wood products in the U.S. and Canada. Furthermore, Canada is the largest producer and supplier of flax seeds which is projected to further drive regional growth.
Prominent players of the market include Krishi Oils Limited (KOL), Archer Daniels Midland (ADM) Company, Cargill, Inc., AOS Product Private Limited, Gustav Heess Gmbh, Welch, Natrol LLC, and Henry Lamotte Oils GmbH, among others.
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For the purpose of this report, Reports and Data has segmented the global Linseed Oil Market based on Nature, Product Type, Application, and Region:
Nature Outlook (Revenue, USD Million; Volume, Thousand Tons; 2018-2028)
Product Type Outlook (Revenue, USD Million; Volume, Thousand Tons; 2018-2028)
- Raw Linseed Oil
- Boiled Linseed Oil
- Double-boiled Linseed Oil
Application Outlook (Revenue, USD Million; Volume, Thousand Tons; 2018-2028)
- Processed Foods
- Paints and Varnishes
Regional Outlook (Revenue, USD Million; Volume, Thousand Tons; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Key questions answered by the report
- At what CAGR is the global linseed oil market projected to grow in 2021-2028?
- What are the key factors driving the growth of the linseed oil market?
- Which region is expected to dominate the market in the forecast period?
- What are the future growth strategies in the market?
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