Market Overview
The borage oil market size was valued at USD 55.34 million in 2024 and is projected to reach USD 104.34 million by 2034, exhibiting a compound annual growth rate (CAGR) of 5.9% from 2025 to 2034. Borage oil is gaining attention for its benefits in managing skin disorders and hormonal imbalances. Rich in gamma-linolenic acid, it’s used in both nutritional supplements and skincare products. As consumers turn toward natural and plant-based wellness solutions, this industry is seeing increased demand from health-conscious buyers.
Borage oil is made from the seeds of the borage plant. It contains a lot of gamma-linolenic acid (GLA), which is an omega-6 fatty acid. GLA is known for helping reduce inflammation. It is commonly used in dietary supplements and skincare products to support skin health and alleviate conditions such as eczema and premenstrual syndrome.
The rising demand for natural ingredients in dietary and cosmetic products is driving the market growth. With consumers becoming more health-conscious, there is an increasing preference for products made from natural sources. Known for its beneficial properties and high gamma-linolenic acid (GLA) content, it is widely used in dietary supplements for its anti-inflammatory effects and in skincare for its hydrating and soothing qualities. This shift towards natural ingredients is boosting the popularity of this oil.
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The rising prevalence of inflammatory and hormonal disorders is significantly driving the market. Conditions such as arthritis, eczema, and hormonal imbalances are becoming more common, leading many people to look for natural remedies for relief. Borage oil, rich in gamma-linolenic acid (GLA), is known for its anti-inflammatory properties, making it an attractive option for those looking to manage these health issues. Additionally, it has the potential to benefit skin health and hormone regulation. As a result, the growing awareness of these disorders is expanding the borage oil market demand.
Market Dynamics
Growth of Skin Care Industry
The expansion of the skincare industry is driving the market demand. With consumers increasingly seeking effective and natural ingredients for their skincare routines, this oil is gaining attention for its hydrating and soothing properties. Manufacturers are incorporating this oil into their formulations for its ability to enhance skin elasticity and reduce inflammation. This demand is further fueled by a growing interest in clean beauty products that emphasize natural and beneficial ingredients. With the continued growth of the skincare industry, the need for borage oil among manufacturers is expected to rise, further propelling the market growth.
Rising E-Commerce Sector
The growing e-commerce sector is becoming a significant driver for this industry. As online shopping continues to rise, consumers have greater access to natural health products, which is gaining popularity for its anti-inflammatory properties and skin benefits. E-commerce platforms provide an easy and convenient way for consumers to purchase this oil in various forms, such as capsules, creams, and oils. This accessibility is boosting market demand, as people are increasingly turning to online stores for health and wellness products.
Additionally, the e-commerce industry allows brands to reach a wider audience, including those in regions where borage oil might not be readily available in physical stores. With growing awareness about the benefits for conditions like arthritis, skin disorders, and hormonal imbalances, the convenience of online shopping has made it easier for consumers to integrate these products into their daily routines, driving the market's growth.
Segment Insights
Delivery Form Insights
The liquid segment is expected to register a significant CAGR in the global market. This growth is due to the increasing demand from various end-use industries, such as cosmetics and pharmaceuticals. In cosmetics, it is favored for its moisturizing and anti-inflammatory properties, making it ideal for skincare products. In pharmaceuticals, its health benefits support a range of treatments, including managing inflammatory conditions, improving skin health, reducing symptoms of eczema, and alleviating joint pain, making borage oil a valuable ingredient in natural remedies and wellness products.
End Use Insights
The cosmetics segment dominated the borage oil market in 2024 due to the increase in the application in the cosmetic industry. This oil is known for its moisturizing and soothing properties, making it a popular ingredient in skincare products. Consumers are increasingly looking for natural solutions to improve skin health, which has driven the growth in cosmetics. Its ability to reduce inflammation and enhance skin elasticity makes it particularly appealing for anti-aging and hydrating formulations.
Regional Insights
In 2024, North America borage oil market held the largest revenue share due to an increase in personal spending. For instance, according to the United States Bureau of Economic Analysis, in August 2024, personal spending in the US rose by 0.2% from the previous month, showing consumers' willingness to invest in quality skincare and health products. This increase in spending indicates that more people are spending on their health and beauty needs, leading to higher demand for natural ingredients, thus, the rise in spending in North America is driving the demand.
Asia Pacific is expected to experience significant growth over the forecast period due to the growth of the food and beverage industry. For instance, according to the Center for Indonesia Policy Study, in Indonesia, the food and beverage industry contributed 6.70% to the country's GDP in 2021, highlighting its rapid growth. More consumers are looking for natural and healthy ingredients in their diets due to which borage oil is becoming increasingly popular for its nutritional benefits and potential health advantages. This rising demand for natural food products is driving manufacturers to incorporate this oil into various food and beverage applications, fueling the market growth in Asia Pacific.
The Indian market is set for substantial growth due to an increase in the consumption of dietary supplements. For instance, according to the Indian Department of Pharmaceuticals, sales of dietary supplements rose by 7.44% in 2021 from 2017, indicating a growing awareness among consumers about health and wellness. More people are looking for natural solutions for various health issues, and borage oil is becoming a popular choice due to its rich content of gamma-linolenic acid (GLA) and its potential anti-inflammatory benefits. This rising interest in dietary supplements is driving demand, positively impacting the growth of the industry.
Key Players & Competitive Insights
The borage oil industry is constantly evolving, with numerous companies striving to innovate and distinguish themselves. Leading global corporations dominate the market by leveraging extensive research and development, and advanced techniques. These companies pursue strategic initiatives such as mergers, acquisitions, partnerships, and collaborations to enhance their product offerings and expand into new markets.
New companies are impacting the industry by introducing innovative formulations to meet the demand of specific market sectors. This competitive environment is amplified by continuous progress in product offerings. Major players in the industry include A.G. Organica Pvt, Ltd; AOS Products Pvt. Ltd.; ConnOils by Kraft, Icelandirect, LLC, K.K. ENTERPRISE; Parchem, William Hodgson and Co, Avestia Pharma, Nordic Naturals, Kerfoot Group, Soyatech International, USANA Health Sciences Inc.; and O&3
A.G. Organica Pvt. Ltd. is a manufacturer and supplier of essential oils, carrier oils, and cosmetic products, established in 2020 and headquartered in Delhi, India. The company evolved from A.G. Industries, which began its operations in 1990 with a focus on mint products. The company operates primarily within the chemicals and materials industry, offering a diverse range of products for both domestic and international markets. Its product portfolio includes essential oils derived from various botanical sources for aromatherapy and natural skincare applications. Additionally, A.G. Organica provides carrier oils that serve as bases for essential oils and are used in cosmetic formulations. The company has also expanded its offerings to include a variety of skincare, haircare, and personal care items.
Connoils by Kraft is a manufacturer and supplier of bulk oil ingredients and oil powders to a diverse clientele that includes both startups and large corporations. The company focuses on providing essential raw materials for various applications such as gels, capsules, pills, and beverages. Connoils offers a wide range of oils sourced from conventional, organic, and biodynamic origins, designed to support industries such as pet nutrition, functional foods, health and beauty, and sports nutrition. In addition to oil ingredients, Connoils specializes in high-oil load powders that for traditional drying methods. Connoils offers private labelling options for businesses looking to market their products under their brand names.
Key Companies
- A.G. Organica Pvt Ltd
- AOS Products Pvt. Ltd.
- ConnOils By Kraft
- Icelandirect, LLC
- K.K. ENTERPRISE
- Parchem
- William Hodgson and Co
- Avestia Pharma
- Nordic Naturals
- Kerfoot Group
- Soyatech International
- USANA Health Sciences Inc.
- O&3
Industry Developments
In May 2025, Bioriginal Food & Science Corp. launched a breakthrough non-GMO, cold-pressed borage oil with 25% GLA—the highest-potency non-GMO offering currently available—designed for both human and pet health applications.
In August 2024, Cefetra partnered with Premium Crops to cultivate and harvest borage seeds for the production of high-quality borage oil, strengthening sustainability efforts and local agricultural collaboration.
Borage Oil Market Segmentation
By Nature Outlook (USD Million, 2020–2034)
- Organic
- Conventional
By Delivery Form Outlook (USD Million, 2020–2034)
- Liquid
- Capsule
By Application Outlook (USD Million, 2020–2034)
- Skin Care
- Anti-Inflammatory
- Antioxidant
- Haircare
- Anti-Ageing
By Distribution Channel Outlook (USD Million, 2020–2034)
- Online
- Retail
- Pharmacies
By End Use Outlook (USD Million, 2020–2034)
- Pharmaceutical
- Cosmetics
- Food and Beverages
- Animal Feed
By Regional Outlook (USD Million, 2020–2034)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Borage Oil Market Report Scope
|
Report Attributes |
Details |
|
Market Size in 2024 |
USD 55.34 million |
|
Market Size in 2025 |
USD 58.95 million |
|
Revenue Forecast in 2034 |
USD 104.34 million |
|
CAGR |
5.9% from 2025 to 2034 |
|
Base Year |
2024 |
|
Historical Data |
2020–2023 |
|
Forecast Period |
2025–2034 |
|
Quantitative Units |
Revenue in USD million and CAGR from 2025 to 2034 |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Industry Trends |
|
Segments Covered |
|
|
Regional Scope |
|
|
Competitive Landscape |
|
|
Report End User |
|
|
Customization |
Report customization as per your requirements with respect to countries, regions, and segmentation. |
FAQ's
The borage oil market size was valued at USD 55.34 million in 2024 and is projected to grow to USD 104.34 million by 2034.
The global market is projected to grow at a CAGR of 5.9% during 2025-2034.
North America had the largest share of the global market.
The key players include A.G. Organica Pvt, Ltd; AOS Products Pvt. Ltd.; ConnOils by Kraft, Icelandirect, LLC, K.K. ENTERPRISE; Parchem, William Hodgson and Co, Avestia Pharma, Nordic Naturals, Kerfoot Group, Soyatech International, USANA Health Sciences Inc.; and O&3.
The liquid segment is expected to experience significant growth with a high CAGR in the global market due to an increase in demand for liquid borage oil from various end-use industries, such as cosmetics and pharmaceuticals.
The cosmetics segment dominated the market in 2024 due to an increase in the application of borage oil in the cosmetic industry.
Page last updated on:
Dec-2024
Research Methodology
A robust system of research, verification, and forecasting designed to ensure reliable and actionable market insights.
Polaris Market Research uses a clear and structured approach to deliver insights that clients can rely on. The process combines detailed primary and secondary research, including direct communication with industry experts. The detailed information helps build a complete picture of market trends and developments. Secondary data is gathered from credible sources such as industry reports, company filings, government source links, and trusted organization databases. It is then cross-checked through discussions with key stakeholders across the value chain. Market size and forecasts are developed using both bottom-up and top-down methods to ensure accuracy and consistency in the final results.
Project Setup
Step 1 & 2:
- We start every project by clearly understanding the client’s objective or goal, then defining the market scope, and aligning regions, segments, and timelines.
- Once the foundation is set, we collect data from all-around of sources, including company reports, government databases, and paid industry platforms.
- Our research is based on secondary data, which helps us build a strong understanding of the market across regions and industries. Then we validate this information through primary research by speaking directly with industry experts, companies, and stakeholders.
- By combining secondary and primary research, we ensure that our market insights are accurate, practical, and closely aligned with real market conditions.
Data Collection
We gather information from both public and verified sources:
Data Structuring
Step 3:
- All collected data is organized into a consistent format to ensure accurate analysis. Since inputs come from multiple sources, they are standardized and aligned before use.
- The data is segmented by product, application, and region, and mapped across a defined historical period (2020–2024). All values are converted into common units (USD Mn/Bn), and volume and pricing are aligned where required to estimate revenue.
- Any overlaps or inconsistencies are reviewed and adjusted to maintain accuracy (<5% variance threshold).
- The result is a structured dataset that allows for clear comparison across regions and supports reliable analysis and forecasting.
Structured Market Dataset, USD Mn/Bn
4. Data Structuring
Step 4: TOP-DOWN APPROACH
- We start with the overall market size at a global or macro level.
- The market is then narrowed down based on scope and industry relevance.
- We apply penetration rates and split the data by region and segment.
- This helps us estimate the market size for specific segments.
- The numbers are validated through cross-checks to ensure accuracy.
Step 5: BOTTOM-UP APPROACH
- We begin by analyzing data from leading companies in the market.
- Revenue data is collected and mapped across different segments.
- The data is then aggregated to estimate the total market size.
- To fill in any gaps, adjustments are made based on industry standards.
- Validation checks make sure that the results are correct.
5. Data Structuring
Step 6:
At Polaris Market Research, we employ a methodical forecasting strategy. This approach blends the analysis of historical data with real-time market validation. To forecast future trends with precision, we examine past patterns, pricing fluctuations, and the interplay of supply and demand. To ensure our conclusions reflect the present market landscape, we actively seek input from industry experts and key stakeholders.
To refine our predictions, we carefully consider critical elements such as market drivers and restraints, fluctuations in raw material costs, emerging technologies, and the production capabilities of various regions. Furthermore, we assess regulatory frameworks and potential policy shifts to gauge their potential impact on market expansion.
All this information is synthesized to generate precise forecasts for each segment and region. These forecasts illuminate the current state of the market and highlight forthcoming opportunities.
6. Data Structuring
Step 7:
In the final stage, we validate all our estimates using a triangulation method, where data is cross-checked from multiple reliable sources, like company data, primary interviews, and secondary research. This helps us make sure that our numbers are correct and fit with the rest of the market.
This process involves verifying data consistency across various segments and geographic areas. It also requires comparing historical trends with the assumptions support the forecast. Any discrepancies involve adjustments to ensure everything remains aligned and dependable.
Once the data is finalized, we prepare the final outputs, including market size estimates, segment-wise breakdowns, and growth metrics. These are delivered in structured formats such as tables, charts, and data files for easy analysis and use.
We collaborate closely with clients, ensuring the final products align with their requirements. This includes offering tailored adjustments, supplementary data analyses, and continuous assistance. Furthermore, we monitor market trends post-delivery, providing updates and refinements to maintain the insights' relevance as time passes.
Post-delivery, we continue to monitor market shifts, offering updates and adjustments to ensure the insights remain relevant over time.
Validation
Triangulation Framework
- Company-level data
- Primary inputs from industry participants
- Secondary benchmarks and published data
- Variance maintained within ±5-10%
- Adjustments applied to align estimates
- Segment values validated against overall market structure
Quality Check
Data Consistency & Integrity
- Segment totals validated to 100%
- Regional estimates aligned with global market size
- Historical trends compared against forecast outputs
- Assumptions reviewed for cross-segment and regional alignment
Output & Delivery
Final Outputs
- Market size estimates (USD Mn/Bn)
- Segment-wise distribution (%)
- Growth metrics (CAGR %)
- Structured tables and charts
- Segment-level datasets
- Excel-based data files for further analysis
Client Alignment & Support
- Deliverables are aligned with defined client requirements and scope
- Custom data cuts and segment splits are incorporated as required
- Post-delivery queries are addressed through analyst interactions
- Additional clarifications and data support are provided upon request
Client Continuity & Updates
- Market developments are tracked post-delivery to capture changes in key trends
- Updated data and revisions are provided based on new market inputs
- Additional refinements and data cuts are shared as required
- Continued analyst engagement supports evolving client requirements
