The Safflower Oil Production Analysis Market size is forecast to reach $3.2 billion by 2025, growing at a CAGR of 6.2% during the forecast period 2020-2025. The safflower plant is known for its bright yellow and orange flowers. Pure safflower oil is made from the seeds of the plant. Increasing the benefits of safflower for skin and rising demand of safflower oil in the food & beverage industry is the major factor driving the growth of the market. The increasing demand for organic and natural ingredients in processed foods is set to further enhance the overall market demand for the Safflower Oil Production Analysis Market during the forecast period 2020-2025.
Safflower Oil Production Analysis Market Segment Analysis - By Application
The Food & Beverage Industry segment held the largest share in the Safflower Oil Production Analysis Market in 2019 and is estimated to grow at a CAGR of 6.9% during the forecast period 2020-2025. High-linoleic safflower oil is rich in polyunsaturated fats, while high-oleic safflower oil contains more monounsaturated fats. Polyunsaturated safflower oil is good for unheated foods, such as vinaigrettes. Safflower oil is a rich source of unsaturated fatty acids, which are often called good fats. It’s every bit as healthy as olive oil and canola oil. But it has less flavor than those alternatives and is often less expensive. It also has a higher smoke point than many vegetable oils, making it an ideal choice for cooking at high temperatures. Safflower oil even has some cosmetic uses. The Food & Beverage Industry is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025.
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Safflower Oil Production Analysis Market Segment Analysis - By Geography
North America dominated the Safflower Oil Production Analysis Market in 2019 with a share of more than 36.81%, followed by Europe owing to the growing shift toward the consumption of low-fat foods and changing lifestyles of people. The growing prevalence of heart diseases, which includes stroke and hardening of arteries, has become a normal phenomenon, thereby driving the demand for safflower oil in this region.
However, Europe is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to the lower risk of production, ease of harvesting, and storage.
Safflower Oil Production Analysis Market Drivers
Increasing benefits of safflower for skin and rising demand of safflower oil in food & beverage industry
Increasing benefits of safflower for skin and rising demand for safflower oil in the food & beverage industry is increasing the growth of the Safflower Oil Production Analysis Market. Safflower oil can also be used topically in certain skincare products and cosmetics owing to its moisturizing effects. The oil can give the skin a smoother appearance and make it softer. Safflower cooking oil is the edible version of the pressed seeds of the plant. As a thick liquid, it’s similar in composition to vegetable oil. It’s commonly used in cooking and medicine, though it can also be used on the skin. Essential oil versions of safflower are the distilled or pressed versions of the petals and flowering parts of the plant. Despite the name, these don’t have the oily texture that cooking oil versions do. Pure essential safflower oil must be diluted before applying to the skin. Thus, increasing the growth of the Safflower Oil Production Analysis market during the forecast period 2020-2025.
Increased Commercialization of Safflower oil
Increased Commercialization of Safflower oil is increasing the growth of the Safflower Oil Production Analysis Market. The safflower oil, which is a monounsaturated and polyunsaturated state is used in infant formulas, cosmetics, and salad and cooking oils. It is considered a high-quality edible oil, and public awareness about its health benefits have made safflower an essential crop for vegetable oil. The oil in linoleic safflower contains nearly 75 % linoleic acid and is used primarily for edible oil products such as salad oils and soft margarine. Thus, increasing the growth of the Safflower Oil Production Analysis market during the forecast period 2020-2025.
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Safflower Oil Production Analysis Market Challenges
Harmful reaction of safflower oil
Some of the factors that are set to impede the growth of the Safflower Oil Production Analysis Market are that the consumption of this oil can result in harmful reactions in some people, such as stomach ache, vomiting, and cramps. The adverse effect such as bleeding problems (haemorrhagic diseases, clotting disorders, and intestinal ulcers), allergy, increase in sugar level in diabetic patients and miscarriages is set to create hurdles for the safflower Oil Production Analysis Market.
Safflower Oil Production Analysis Market Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Safflower Oil Production Analysis Market. In 2019, the Safflower Oil Production Analysis Market share is consolidated by the top ten players present in the market. Safflower Oil Production Analysis Market, the top 10 companies are Adams Group, Aktiv LLP, Oil Seeds International Inc., Los Charitos, Galp Distribuición Oil España, S.A.U., and Ciaberia International Inc.
Acquisitions/Product Launches
In April 2018, Oil Seeds International Inc. acquired Louis Dreyfus Company which owns and operates oilseeds crushing and refining facilities.
Key Takeaways
North America dominated the Safflower Oil Production Analysis Market in 2019 owing to the growing shift toward the consumption of low-fat foods and the changing lifestyles of people. The Safflower Oil Production Analysis Market scope for different regions will be provided in the final report.
The rapidly growing cosmetic industry and rising health consciousness of people around the world is likely to aid in the market growth of the Safflower Oil Production Analysis Market.
Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Safflower Oil Production Analysis Market report.
The harmful reaction of safflower oil and the adverse effect such as bleeding problems (hemorrhagic diseases, clotting disorders, and intestinal ulcers), allergy, increase in sugar level in diabetic patients, and miscarriages are poise to create hurdles for the Safflower Oil Production Analysis Market.
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