Flaxseed Oil Market Introduction:
Flaxseed oil also known as linseed oil is a pale yellow oil derived from the seeds of flax plant. The major application of this oil is found in industrial uses such as drying oil finishes in wood finishing, binder in paints, plasticizer, and manufacturing other industrial solvents. Although the use of this oil in the industrial scale has not been significantly high but the consumption of flaxseed oil for its nutrient has picked up as the trends in healthy living rises. Consumption in the European region has increased, demand for healthy oils is increasingly at a much larger pace. This increase in consumption is not very sudden as flaxseed oil is often considered as a delicacy in this region and consumed with potatoes and quark.
Flaxseed oil finds its use in wide variety as a cosmetic products as well, many hair care products such as shampoos and conditioners use flaxseed oil as an active ingredient. It is often severed in the premium cosmetics category where the demand for this product is increasing at much higher levels. This demand is further expected to increase backed by the rise to a nutricosmetics segment in cosmetics industry.
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Flaxseed Oil Market Segmentation:
The global Flaxseed oil market is segmented on the basis of its application, product type, distribution channel, and region. Based on its application, the global Flaxseed oil market is segmented into four main segments; industrial, food, cosmetics and dietary supplement. Flaxseed oil has wide applications as a cosmetic, it is mostly used as nourishing, hair conditioning oil and as skin tonner. In culinary, flaxseed oil is used as a base for seasoning various dishes in the European cuisine. The use of this oil for industrial purpose is large but the use in food and cosmetics is building up and the market is expected to grow at a relatively higher rate during the forecast period.
The product type segment of flaxseed oil includes; raw flaxseed oil, boiled flaxseed oil and doubled boiled. The raw oil is often used as core oils, caulking compounds, paints, tempering oil etc., the boiled and doubled boiled flaxseed oil is used paints where the drying time is reduced.
Based on the distribution channel, global flaxseed oil market is segmented as direct sales, online retail, supermarkets/hypermarkets, and specialty stores including natural food and cosmetic stores. Among which, sales through the Internet is expected to grow which is due to the increasing popularity of the seed oils such as argan and flaxseed oil on social media. Specialty stores are also expected to increase its revenue shares over the forecast period due to the increase in number of establishments in Western European and North American region.
Flaxseed oil Market Regional Outlook:
On the basis of regions, the Flaxseed oil market is segmented as following key regions; North America, Latin America, Western Europe, Asia Pacific, Japan Middle East and Africa. In the Asia Pacific countries such as China and India creating high demand for the oil in both industrial and cosmetics segments. European countries including Belgium and Germany are also expected to gain significant market share due to the rising popularity for its use in dressing in culinary and meat preparations. The North American region is expected to increase its share in global flaxseed oil market which is attributed to the significantly high demand by health and beauty conscious consumers. Innovations in research and the use of flaxseed oil as natural and research oriented medicine is expected to drive growth in the North American region over the forecast period.
Flaxseed Oil Market Drivers and Trends:
The Flaxseed oil market is great prospect which is driven by the variety and vividness in use of flaxseed oil, the cosmetic segment is expected to be the key beneficiary which is mainly driven by the increased consciousness and awareness among consumers regarding health benefits of flaxseed oil. Flaxseed oil provides the blend of vitamins, antioxidants and its little to no side effects is expected to fuel the growth of this market’s growth. Process industry are set to increase the capacities of production in order to fill the gap in demand. Advancement in technology and supply side demand from research institutes aiming at research based on medicinal benefits of flaxseed oil is another reason expected to drive the global flaxseed oil market.
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Flaxseed Oil Market Key Players:
Some of the key players in the global Flaxseed oil market includes –
- Archer Daniels Midland Company
- Cargill Incorporated
- Bartoline Ltd.
- Grupo Plimon
- Rapunzel Naturkost GmbH
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