Flaxseed oil, also generally known as linseed oil or even flax oil is a colorless oil extracted from dried flaxseeds. The extraction process of this oil is segregated into three methods of cold-pressed, hot-pressed and solvent-extraction. This seed has the capability of being polymerized into solid form due to it having the characteristic of being a drying oil. This extraction process is then subsequently used for commercialization of oil in capsule or liquid form in a wide variety of applications.
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Flaxseed oil market is growing due to rise in number of application in the cosmetics, increase in the awareness among people for health; the effects of these factors are mentioned below:
- Rise in number of application in the cosmetics: Due to various functional and natural benefits provided by flaxseed oil there is an increase in the consumption levels of flaxseed oil from the cosmetics and personal care segments. Flaxseed oil is known to be beneficial for the treatment of eczema, acne, reducing the impact of old age, rosacea and even psoriasis amongst various other disorders. This is due to the presence of alpha-linolenic acid (ALA) and Omega-3 compounds present in abundance in flaxseed oil
- Increase in the awareness among people for health: Another important factor which is invoking the market growth is the increasing awareness amongst the global population regarding the health benefits prevalent with Omega-3and ALA helping consumers have a better health. Due to the abundance of Omega-3 and ALA present in flaxseed oil and its cost-effective nature of products, there is an increasing demand for flaxseed oil from the population
Innovative product launches by companies in the Global Flaxseed Oil Market:
- In May 2017, Marico announced the availability of their sub-brand “Saffola Aura” which will be made under their flagship brand “Saffola”. This latest sub-brand will be a mixture of olive oil and flaxseed oil having a composition of eighty and twenty percent respectively. This expansion of brand is designed to invoke premiumization amongst the consuming population by enhancing the relevance of brand in the market
- In September 2016, Archer Daniels Midland Company announced the availability of “Onavita” their latest non-GMO, completely refined flaxseed oil providing consumers with a cost-effective alternative for heart-healthy ingredients. This oil variant includes plant-sourced Omega-3s helping enhance the application area for this oil due to the significant importance of Omega-3s for the human body. The oil can be utilized in various end-use applications such as pasta sauces, dressings, vegan foods among others
The market is segmented on the basis of product as organic, inorganic; type as cold-pressed, hot-pressed, extraction; application as flooring, processed food, cosmetics, pharmaceuticals, paints & varnishes; distribution channel as direct sales, online retail, supermarkets/hypermarkets, specialty stores.
“According to Data Bridge Market Research, global flaxseed oil market is expected to be growing with a steady CAGR of 3.1% during the forecast period of 2019 to 2026”
Some of the major players operating in market are Archer Daniels Midland Company, Cargill, Incorporated, Bartoline Ltd, Rapunzel Naturkost, Gustav Heess GmbH, Henry Lamotte OILS GmbH, Natural Factors Inc, Krishi Oils Limited, Natrol, LLC, Pharmavite, LLC, Nature’s Bounty, Heze Zonghoo Jianyuan Biotech Co., Ltd., Shape Foods Inc., Nature's Way Products, LLC, Rexall Sundown, Inc, Blackmores, General Nutrition Centers, Inc. among others.
With the rapid rise of construction industry and urbanization worldwide, there is a renewed level of demand for flaxseed oil from the construction vertical. Flaxseed oil is used for curing concrete and also providing antispalling protection. This trend is subsequently enhancing the levels of demand for flaxseed oil and presenting an invaluable opportunity for flaxseed oil manufacturers to target this industrial vertical.
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