Borage Oil Market Projected to Reach USD 104.34 Million by 2034, Expanding at a CAGR of 5.9%

Global Borage Oil Market size and share is currently valued at USD 55.34 million in 2024 and is anticipated to generate an estimated revenue of USD 104.34 million by 2034 according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 5.9% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2025 – 2034

Market Definition

Borage oil is extracted from the seeds of the borage plant and is rich in gamma-linolenic acid (GLA), known for its anti-inflammatory properties. It is used in dietary supplements, cosmetics, and pharmaceuticals for managing conditions like arthritis, eczema, and hormonal imbalances. The market is growing due to increasing consumer awareness of natural health products and rising demand for plant-based ingredients. However, the relatively high cost of extraction and limited availability may pose challenges. Stringent quality standards also impact market dynamics.

Key Report Highlights

The report highlights the key region that accounts for the highest revenue share in the global Borage Oil market.
It identifies the leading country within this region that makes a significant contribution to the market’s overall performance.
The report outlines the dominant segment that holds a major share of the market.
It also emphasizes the fastest-growing segment projected to gain strong traction during the forecast period.
Qualitative and quantitative market analysis have been used to provide an in-depth understanding of the market.

Market Overview: Key Figures at a Glance

Market Size in 2024 USD 55.34 million

Market Size in 2025 USD 58.95 million

Revenue Forecast in 2034 USD 104.34 million

CAGR 5.9% from 2025 to 2034

Base Year 2024

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Market Growth Drivers

The borage oil market is driven by increasing consumer awareness regarding natural health supplements and the therapeutic benefits of gamma-linolenic acid (GLA), which is abundant in borage oil. Its anti-inflammatory and hormonal balancing properties make it popular in nutraceuticals, cosmetics, and pharmaceuticals. Rising demand for plant-based and vegan products, along with a shift toward preventive healthcare, has fueled interest in botanical oils. The cosmetics industry, particularly in anti-aging and skin hydration products, is a key growth area. Additionally, research supporting borage oil’s effectiveness in treating conditions such as arthritis, eczema, and PMS is influencing consumer purchasing behavior. E-commerce channels have also expanded accessibility and visibility of borage oil supplements globally.

Market Key Players

The competitive landscape features a mix of long-standing companies and emerging contenders. Borage Oil Market Leading players are actively pursuing R&D initiatives and strategic moves to strengthen their market position. Notable participants include