Safflower Oil Market: Evolution & Trends by 2024

Press Release   •   Jan 03, 2017 12:10 IST

Safflower oil is extracted from safflower plant seeds. Safflower has had a rich history among both eastern and western civilizations in its plant form as well as in the processed oil. It is still a part of the human diet. Safflower oil bridges the commercialization between ancient and modern times. A growing number of benefits from the use of safflower oil as a nutrition and health supplement is boosting the market for safflower oil. The market is showing significant improvements in health standards across the globe due to its associated oil product benefits. Safflower is a plant and it is seen that flower and oil from the seeds are used as medicine. The growing prevalence of heart diseases, which includes the hardening of arteries and stroke, has become a normal phenomenon across all sections of the population. It has also been seen that safflower oil is also used to treat fevers, coughs, tumors, breathing problems, clotting conditions, and traumatic injuries. Safflower oil is preferred due to changes in lifestyle and an inclination toward the consumption of low-fat foods, coupled with health benefits. With continuous health improvements, special economic incentives are being given to companies to achieve improvements in health standards, which leads to both social and economic welfare. Health standard norms and global acceptance are the key factors on which the growth of the global market for safflower oil depends.

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The safflower oil market has been segmented into two types: monounsaturated safflower oil and polyunsaturated safflower oil. Monounsaturated safflower oil are mainly seen used as cooking oil in applications requiring high cooking temperatures. It has been considered shelf stable and it can be stored in a dry, cool, and dark place. It has also been observed that monounsaturated oils are advertised for their quality of durability while being used to cook at high temperatures. However, it is seen that polyunsaturated safflower oil consists of linoleic acid and is mainly used in cold applications, such as being mixed into salad dressings. It is seen that polyunsaturated oils cannot be used for cooking purposes as it can become rancid. Safflower oil thus finds application in both personal and commercial purposes.

By region, the safflower oil market is segmented into Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. The benefits of using safflower oil, which includes dietary needs and overall well-being, is boosting the market for safflower oil during the forecast period. From the study it has also been observed that both monounsaturated and polyunsaturated oils are used for food purposes and that they consist of less saturated fat than normal cooking oil. Safflower oil is seen used also in the industrial sector as a drying oil in the manufacturing of stains and paints. It is also seen that the meal which is left after pressing the oil is used to feed cows.

Safflower oil is seen to be used as a health supplement and it has been seen that taking daily dosages of the oil can lower cholesterol, reduce inflammation, aid in body fat reduction, and help in muscle growth. Some restraints have been observed in this market as well. Safflower belongs to the daisy family and some people are allergic to daisy; the consumption of this oil in such people results in harmful reactions. It has also been observed that patients using safflower oil have experienced vomiting, stomach aches, and cramps. Additionally, awareness of the benefits of safflower oil is yet to reach large sections of population..

Key participants in the global safflower oil market include Oil Seeds International Inc., Adams Group, Ciaberia International Inc., Aktivv LLP, Galp Distribution Oil España S.A.U, and Los Charitos.

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