Safflower Seed Oil Market Trends and Forecast
The future of the global safflower seed oil market looks promising with opportunities in the skin care and color cosmetic markets. The global safflower seed oil market is expected to grow with a CAGR of 4.3% from 2024 to 2030. The major drivers for this market are rising demand for natural and organic cosmetic products, growing awareness of health benefits of safflower oil, and increasing application in culinary uses.
• Lucintel forecasts that organic oil is expected to witness higher growth over the forecast period.
• Within this market, skin care is expected to witness the higher growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Safflower Seed Oil Market
• United States: ADM announced an expansion of its safflower seed oil production in 2023, aiming to increase output by 20%. The USDA initiated grants to support sustainable safflower cultivation, targeting improved yields and quality.
• India: Marico Ltd. introduced a new line of organic safflower seed oil products in early 2024. The Indian government set a target to double safflower oil production by 2025, providing subsidies for farmers adopting high-yield safflower varieties.
• China: COFCO Corporation announced a strategic partnership with local farmers to enhance safflower seed oil production, focusing on export markets. The Chinese government allocated funds to research genetically modified safflower varieties to boost oil content.
• Australia: Australian Plant Proteins began large-scale extraction of safflower seed oil, aiming to tap into the health-conscious market. Government initiatives include grants for organic farming practices, with a goal to make Australia a leading exporter of safflower oil by 2026.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Safflower Seed Oil Market by Segment
The study includes a forecast for the global safflower seed oil market by type, application, and region.
Safflower Seed Oil Market by Type [Value from 2018 to 2030]:
• Organic Oil
• Common Oil
Safflower Seed Oil Market by Application [Value from 2018 to 2030]:
• Skin Care
• Color Cosmetics
Safflower Seed Oil Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Safflower Seed Oil Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies safflower seed oil companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the safflower seed oil companies profiled in this report include-
• Nikkol
• A&A Fratelli Parodi
• Croda
• Gustav Heess
• All Organic Treasures
• Bioorganic Concepts
• Caribbean Natural
Recent Development in the Safflower Seed Oil Market
• NatureÄX%$%Xs Agro Products: NatureÄX%$%Xs Agro Products announced the expansion of their organic safflower seed oil production line to meet the growing demand for organic and non-GMO oils. The new facility aims to increase production capacity by 30% by the end of 2024.
• Archer Daniels Midland Company (ADM): ADM has invested in a new processing plant dedicated to extracting high-quality safflower seed oil. This plant utilizes advanced cold-press technology to retain the nutritional benefits of the oil, catering to the health-conscious consumer market.
• Cargill Inc.: Cargill Inc. introduced a new range of safflower seed oil products targeted at the cosmetic industry. These products are specifically formulated for use in skin and hair care applications, leveraging the oilÄX%$%Xs moisturizing and antioxidant properties.
• Spectrum Organic Products, LLC: Spectrum Organic Products has launched a marketing campaign to promote their safflower seed oil as a versatile cooking oil. The campaign highlights the oilÄX%$%Xs high smoke point and health benefits, aiming to increase its adoption among home cooks and professional chefs.
• Connoils LLC: Connoils LLC has entered into a strategic partnership with a leading skincare brand to supply safflower seed oil for their new line of natural skincare products. This partnership is expected to boost the companyÄX%$%Xs presence in the beauty and personal care industry.
Features of the Global Safflower Seed Oil Market
Market Size Estimates: Safflower seed oil market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Safflower seed oil market size by type, application, and region in terms of value ($B).
Regional Analysis: Safflower seed oil market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the safflower seed oil market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the safflower seed oil market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for safflower seed oil market?
Answer: The global safflower seed oil market is expected to grow with a CAGR of 4.3% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the safflower seed oil market?
Answer: The major drivers for this market are rising demand for natural and organic cosmetic products, growing awareness of health benefits of safflower oil, and increasing application in culinary uses.
Q3. What are the major segments for safflower seed oil market?
Answer: The future of the safflower seed oil market looks promising with opportunities in the skin care and color cosmetic markets.
Q4. Who are the key safflower seed oil market companies?
Answer: Some of the key safflower seed oil companies are as follows:
• Nikkol
• A&A Fratelli Parodi
• Croda
• Gustav Heess
• All Organic Treasures
• Bioorganic Concepts
• Caribbean Natural
Q5. Which safflower seed oil market segment will be the largest in future?
Answer: Lucintel forecasts that organic oil is expected to witness higher growth over the forecast period.
Q6. In safflower seed oil market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the safflower seed oil market by type (organic oil and common oil), application (skin care and color cosmetics), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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