The linseed oil market is predicted to be worth USD 7,904 million in 2023, and rise to USD 13,972.5 million by 2033. The global industry was expanding at a CAGR of 2.4% from 2018 to 2022.
With the advancement of science and technology, flax plant cultivation is now mostly done for the purpose of pressing linseed oil. It is used in lubricating paints, varnishes, and the leather industry. The aforementioned applications are anticipated to drive cold-pressed flaxseed oil demand during the next ten years.
The market is projected to experience declines during the projection period since linseed oil is dangerous and can start fires. It is also inappropriate for use in infant goods because it irritates the skin and eyes when in touch.
Profitable Market Opportunity
Key important factor anticipated to propel the expansion of the global linseed oil industry is the rising consumption due to its numerous health benefits. Linseed oil’s ALA and omega-3 content helps to lower inflammation, guards against brain aging, and enhances hearth health. Several research aims to show conclusively that linseed oil consumption inhibits the growth of cancer cells. In turn, this is likely to present a profitable chance for market participants.
Key Takeaways
- By 2033, the linseed oil market in the United Kingdom is likely to expand, with the CAGR of 4.8%.
- In 2022, the United States expanded effectively in the linseed oil sector, with a share of 8.8%.
- The linseed oil market was significantly expanding, with a size of US$ 7,600 million in 2022.
- By 2033, the linseed oil industry in China is likely to expand, with a CAGR of 4.6%.
- In 2022, Australia projected to expand in the linseed oil business, with an expected share of 2.4%.
- The market is expected to grow at a US$ 10,719. 87 million valuation by 2028, with rising health awareness.
- By 2033, India is projected to expand significantly in the linseed oil sector, with a share of 17.9%.
- Japan’s linseed oil market share expanded significantly, with a 4.2% share in 2022.
- In 2022, paint & textile dominated the market with a leading share. It is anticipated to control the market by 2033 in terms of application.
- Based on product type, raw linseed oil is expected to dominate the market during the forecast period.
Effective Approaches by Key Players
The demand for linseed oil is likely to increase as a result of beneficial programs and initiatives launched by governments and producers. Suppliers from several nations worldwide are promoting sophisticated and organic farming practices.
Recent Developments
- In August 2017, ADM Corporation added green tea, acerola, antioxidants, and mixes of tropical fruit to their plant-based extraction production line. There is a lot of vitamin C and other beneficial components in these products.
- In September 2021, Croda International Plc. opened the doors to its crop care product validation center in Brazil, strengthening its position in the agricultural industry and promoting product development. This tactical approach is advantageous for the market, because crop care goods utilize it.
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Key Segments
By Nature:
- Organic Linseed Oil
- Conventional Linseed Oil
By Product Type:
- Raw Linseed Oil
- Boiled Linseed Oil
- Double-boiled Linseed Oil
- Other Types
By Application:
- Dietary Food
- Pharmaceuticals
- Paint & Textile Industry
- Leather Industry
- Animal Feed
- Personal Care
- Processed Food
- Others
By Distribution Channel:
- Online Retailers
- Grocery Stores
- Wholesalers
- Supermarkets
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa
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