Linseed Oil Market Segmented By aw Linseed Oil, Boiled Linseed Oil, Double Boiled Linseed Oil Product in Organic, Conventional Nature
Industry: Food and Beverages
Published Date: May-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 269
Report ID: PMRREP28477
The global linseed oil market expanded at 5.3% CAGR between 2018 and 2022 and expected a valuation of US$ 8,800.5 million in 2023. As per this study by Persistence Market Research, the sales of linseed oil across the world is expected to increase at 5.5% CAGR to reach a market size of US$ 15,032.5 million by the end of 2033.
Linseed or flaxseed is the seed from the flax plant (Linum usitatissimum), a member of the Linaceae family, occurring in yellow or brown color of thin seed. The seed is widely cultivated in Mediterranean and Western Asia region. Linseed or flaxseed is one of the oldest cultivated crops and consumed for the high nutritional value and high fiber and oil content. Russia, China, Kazakhstan, Argentina and Canada are some of the countries with the significant share in the global production of linseed. Linseed is gaining popularity as a superfood and being used in seed mixes for snacks and breakfast products in past recent years. The use of linseeds and linseed oil in the food sector is relatively small when compared to the several other industrial uses. Linseed oil is used extensively as an ingredient in paints, varnishes and many other industrial products.
| Attributes | Key Insights |
|---|---|
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Market Size (2023E) |
US$ 8,800.5 Million |
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Projected Market Value (2033F) |
US$ 15,032.5 Million |
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Global Market Growth Rate (2023 to 2033) |
5.5% CAGR |
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Historical Growth Rate (2018 to 2022) |
5.3% CAGR |
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Revenue Share of Top 4 Countries (2022E) |
54% |
“Increased demand in paint and varnish industries”
The global demand for paint and varnish is likely to increase because of a surge in the demand for automobiles and consumer goods. Owing to urbanization, the construction business has augmented throughout the world, which has led to the increased demand for oil paints. Linseed oil is used as an additive in oil paint, and imparts characteristics such as glaze, transparency, and finishing, which is expected to drive global linseed oil production.
“Health benefits of linseed oil and its components such as omega-3/6 fatty acids and Alpha Linoleic Acid (ALA)”
Linseed oil and its components presents various health benefits, such as heart health, treating constipation and diarrhea, weight management, reducing inflammation, rheumatoid arthritis treatment, and cancer treatment. These health benefits contribute to the growing demand for linseed oil, since there is huge preference for healthier products.
“Plant breeders are opting to developed flax seed producing high levels of ALA, which is GRAS certified”
Flax seed oil or linseed oil contains high levels of ALA as compared to all the vegetable oils. Plant breeders have developed a variety of flax seeds that produce increased percentages of alpha linoleic acid in linseed oil, and are GRAS certified. This high ALA containing linseed oil is expected to drive the global linseed oil market.
“Linseed oil incorporated into sports nutrition”
Raw linseed oil shows promising results when used in sports nutrition. The ALA present in the oil is good for improving fat metabolism, and helpful regarding endurance, especially for athletes and runners. ALA aids in repairing the muscles at a cellular level. With changes in lifestyles, the gym going and health conscious population is surging, which will increase the demand for linseed oil in sports nutrition.
“Demand for linseed oil in the cosmetic industry”
The cosmetic industry is growing at a tremendous pace, and is expected to continue to show the same trend, mostly in Asia, with hundreds of new brands being developed and marketed in countries such as South Korea and Japan, annually. Linseed oil has properties that make it useful in various products, such as moisturizers, skin and hair products, exfoliating creams, etc. Linseed oil is used in these products as an omega-3 fatty acid source. The demand for linseed oil is increasing since it is derived from natural and vegetable sources, and also from other sources. This is because omega-3 fatty acid which is derived from fish is experiencing hurdles due to presence of contaminants.
“Consumer awareness regarding the health benefits of linseed oil”
A good deal of effort has been taken through various programs dealing with promoting the health and nutritional benefits of flax seeds. The increased awareness of consumers towards healthier diets and omega-3-related benefits in linseed oil are expected to support the global linseed oil market.
“Linseed crop is an extremely promising niche for farmers”
Farmers are opting for linseed crop in a rotational cropping system, mostly in Australia, due to the good results observed, since the linseed crop complements other crops, especially cereal crops in the system, acting as a break crop. It helps to control or reduce the soil born root diseases.
“Alternative solutions in the paint and textile industry”
The use of linseed oil in the paint and textile industry is hindered by the availability of cheap and robust solutions. The use of products such as acrylic paints and vinyl flooring, and the development of synthetic alternatives has increased. Linseed fiber application as linen in textile industry has largely been superseded by synthetic products such as polyester, nylon, etc. The demand from this sector is expected to continue to decline.
What Makes India a Lucrative Market for Manufacturers of Linseed Oil?
“Prominence of Linseed Oil in Developing Countries”
India accounts for over 40.0% consumption of linseed oil in the South Asia and Pacific marketplace with the major share being contributed by the raw linseed oil type. However, the fastest growth is expected by the boiled linseed oil type based on the estimated value CAGR of 7.1%.
What is the Demand Outlook for Linseed Oil in the United States?
“Rising Popularity of Linseed Oil in the Country”
North America holds almost 25.0% of the market share in the global market whereas U.S. holds over 90.0% of the North American market.
Out of these, the maximum consumption is exhibited by the conventional nature with a valuation of approximately US$ 1,942.3 million in 2022 and will continue to grow at a rate of roughly 5.3% CAGR.
Linseed Oil of which Type are Being Widely Utilized?
“Raw linseed Oil Type Contributing to Market Growth”
Based on the type, raw linseed oil dominates the market with roughly 70.0% share in the market. However, boiled and double boiled linseed oil are expected to grow at a faster rate when compared with raw linseed oil. Raw linseed oil further was valued at US$ 5,746.6 million in 2022.
Which End Use Utilizes the Maximum Amount of Linseed Oil?
“Use of Linseed Oil in the Paint & Textile Industry to Dominate the Market in the Forecast Duration”
The global linseed oil market is categorized based on the various end use it finds application in including dietary supplements, pharmaceuticals, paint & textile industry, leather industry, animal feed, personal care, food and beverage processing among others. Among these, the paint & textile industry with a market value of approximately US$ 2,125.5 million dominates the market in 2022.
The players involved in the linseed oil market are focused on maximizing yield without compromising on the quality of the product. For this, manufacturers are involved in mergers, acquisitions to incorporate existing technologies from competitors and to capitalize on existing setups and supply chains to generate revenue.
| Attribute | Details |
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Forecast Period |
2023 to 2033 |
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Historical Data Available for |
2018 to 2022 |
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Market Analysis |
US$ Million for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Report Coverage |
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Customization & Pricing |
Available upon Request |
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The global linseed oil market is valued at US$ 8,800.5 million in 2023.
Consumption of linseed oil increased at a CAGR of 5.3% from 2018 to 2022.
Worldwide demand for linseed oil is estimated to reach US$ 15,032.5 million by 2033.
Global demand for linseed oil is projected to increase at 5.5% CAGR from 2023 to 2033.
The market for linseed oil in Europe is estimated to reach US$ 2,360.1 million in 2023.
