Future Market Insights (FMI) delivers key insights on the global safflower oil market in its forthcoming outlook titled, Safflower Oil Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2027‘. In this report, FMI offers insights on the dynamics of the safflower oil market, such as its medicinal value, demand for high oleic and linoleic oils amongst the health conscious consumers, and other factors such as changing agricultural landscape, and the way these dynamics have influenced the safflower oil market to project a CAGR of 5.1% over the forecast period.
The renowned link between oil and obesity is deemed more important than ever for the safflower oil market, which is a major driver for the demand for safflower oil across various end use sectors. Consumers, especially in regions such as North America, Europe, and Japan, are well aware of the nutritional profile of safflower oil, which boasts of a high linoleic acid content (low bad cholesterol and high good cholesterol). Hence, these consumers are increasingly including safflower oil in their daily diets. These are the same consumers who demand organic and healthy products, compelling many key manufacturers in the safflower oil market to switch raw material procurement from conventional to organic. This has paved the way for the greater availability of organic safflower oil in the market.
The appearance of high oleic and linoleic oil ingredients on packaged snack food labels and consumers’ high regard for these ingredients has also obliged manufacturers to include safflower oil in their products. Hence, the nutrient profile alone is a highly favourable factor driving the growth of the safflower oil market. The area under safflower cultivation is declining in major producing countries such as India, due to the growth in competition in the Indian market. Consequently, the production of safflower oil has also declined. However, with safflower oil being a traditional culinary agent, some Indian farmers continue to grow it, resisting the competition and positioning safflower oil as a unique alternative to traditional edible oils. It is the medicinal value of safflower that is bracing the hopes of these farmers. This is also reflected through the product offerings of some of the key Indian manufacturers who are strategizing on health product positioning in the safflower oil market. Moreover, over the past few years, organic safflower oil product offerings have been on the rise by India-based producers, which highlights the importance of safflower oil’s perceived health benefits by consumers.
Increasing urbanization in developing regions has led to a severe decline in the agricultural acreage. Since safflower is grown and safflower oil is processed in large quantities in these regions, this factor is impacting the safflower oil market in a major way. This factor is further burdened with low safflower oil yield, all of which are making the cultivation of safflower particularly difficult.
The report lays major emphasis on the market trends and restraints impacting each segment, and offers analysis and acumens of the potential of the safflower oil market in terms of value and volume, and average pricing analysis in various regions. APEJ is expected to register high growth rates between 2018 and 2027, while it is expected to be an important region in the safflower oil market, closely followed by North America through to 2027. Significant growth can be expected in the regions such as Western Europe, with a projected CAGR of 5.2%.
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The report also includes details of some of the manufacturers operating in the safflower oil market. The overview of the company, along with their strategies and key product offerings are the central component of the detailed company profiled in the safflower oil market report. Some of the key safflower oil players include Marico Limited, Gustav Heess Oleochemische Erzeugnisse GmbH, SunOpta, Connoils LLC, Oilseeds International, Ltd., Adams Group Inc., Centra Foods, Henry Lamotte OILS GmbH, Spectrum Organics Products, LLC, Moksha Lifestyle Products, Victor & Summat General Trading, Aryan International, Austrade Inc., Altınyağ Combine, Inc., and Stoney Creek Oil Products Pty Ltd, amongst others.