The global linseed oil market size is expected to witness potential gains in the future and register a significant CAGR of 3.1% over the forecast period (2019 - 2027).
Linseed oil, also known as flaxseed oil, is a natural oil that is extracted from flax seeds. The majority of commercially grown flax seed contains 40–45% of oil and 20–25% protein per weight. Linseed oil contains alpha-linolenic acid (ALA), an n−3 fatty acid essential good health of heart. The oil also contains polyunsaturated omega-3 and omega-6 fatty acids that enhance eye health and prevent inflammation in arteries.
Increasing consumption of linseed oil, due to its several health benefits is a major factor that is expected to boost growth of the global linseed oil market over the forecast period. The presence of ALA and omega-3 in linseed oil aids in reducing inflammation, protects brain against ageing, and improves hearth health. Several studies are focused on providing strong evidence of reduced cancer cell growth due to consumption of linseed oil. This in turn may offer lucrative opportunity for the market players.
Linseed oil is also used for the protection and maintenance of interior and exterior wood. It dries slowly and shrinks upon hardening when used as a wood finish. Linseed oil is also used in certain paints and as a binder for oil paintings. Therefore, increasing demand for linseed oil from the wood and paint and coatings industries is expected to boost growth of the market over the forecast period.
On the basis of region, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Asia Pacific. The market in North America is expected to witness significant growth, owing to increasing inclination of the populace to health food and high prevalence of cardiovascular diseases. Favorable U.S. Food and Drug Administration regulations on the production of oil crops is also expected to boost the market growth in North America. Application of linseed oil in conventional putty is expected to boost growth of the market in Asia Pacific. Growing paints and coatings industry and increasing demand for linseed oil for wood furnishing is also expected to boost the market share of Asia Pacific. The market in Europe is majorly driven by increasing production of linseed in the region
Major players operating in the global linseed oil market include, Cargill, American Linseed Oil Co., and Krishi Oils Ltd.