- Posted by Eduardo Moreno
The global linseed oil market is expected to be worth US$1.14bn by 2026, according to a new study published by Polaris Market Research.
Titled “Linseed Oil Market Share, Size, Trends, Industry Analysis Report by Application Type (Processed Food, Paints & Varnishes, Cosmetics, Flooring, Pharmaceuticals and Others); By Regions, Segments & Forecast, 2019 – 2026”, the report analyses market trends and future insights.
Rising demand for linseed oil from a range of industries including food, cosmetics, and pharmaceuticals are expected to drive market demand, according to the report.
While the industry’s growth rate was average compared to other edible oils, demand for a range of end-use products such as paints and coatings, varnishes, organic packaging, pharmaceuticals and flooring had been increasing steadily, the report said.
Meanwhile, demand for organic linseed oil had grown exponentially.
Europe and the USA have been leading players in the linseed oil market for some time, according to the report.
However, the Asia Pacific region has recently been the biggest player in the sector due to the region’s growing food processing, paints and coatings, and pharmaceuticals industries with China, India, Indonesia, Japan and Malaysia being both the largest consumers and biggest producers globally.
Key industrial players in the sector include Barlean’s, Bioriginal Food and Science Corp, Natural Factors, Natrol, Archer Daniels Midland (ADM) Company, Cargill, Krishi Oils Limited (KOL), Henry LaMotte Oils, Gustav Heess and granoVita, according to the report.
Source: Oils & Fats Internacional (OFI)