Increasing health problems and health-related awareness in the population globally has fuelled the usage of natural food ingredients such as essential oils. Hence, there is high demand in the pharmaceutical and food processing industries for natural and herbal medications. Evening primrose oil is a good substitute for other ingredients that are generally used in pharmaceutical industries since the past several years. Evening primrose oil is mainly produced from evening primrose plant seeds. Native Americans traditionally consider evening primrose plant leaves, roots and seeds as food. Hence, the U.S. is the top importer and consumer of evening primrose oil worldwide. Multiple health benefits, ease of usage, and high knowledge & awareness among the population are some of the properties of evening primrose oil, which are expected to boost the evening primrose oil market during the forecast period. The preference of the population for living a healthy lifestyle is also among major factors driving the demand for the usage of evening primrose oil as a food supplement.
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The evening primrose oil is expected to witness high demand in North America and Europe. Moreover, the evening primrose oil market is expected to witness high demand in the Asia Pacific region due to the increasing per capita income and improving quality of life.
Global Evening Primrose Oil: Key Players
Some of the key players operating in the global Evening Primrose Oil market are, HTC Health, CONNOILS LLC, Oil Seed Extractions, OmegaNZ, Grupo Plimon, Aromex Industry, Sanmark Corporate, Efamol, Henry Lamotte and OILS GmbH. An increasing number of industrialists and cosmetic industries are showing a keen interest in producing evening primrose oil owing to the increasing demand for evening primrose oil.
Opportunities for market participants:-
Opportunities for the participants in the global evening primrose oil market are optimistic owing to the growing demand in North America and Europe, as there is an increase in the consumption of evening primrose oil in pharmaceutical industries as well as in the food and cosmetic industries in these regions. With growth in the intake of processed food, evening primrose oil is one of the prominent dietary supplements for the treatment of the most common disorders such as baldness and acne. The preference of people around the world for natural products presents a lucrative opportunity for market players.
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Growing demand for evening primrose oil from the cosmetic, beauty and food industries:-
The evening primrose oil market is gaining importance in recent times due to the discovery of its multiple benefits for the treatment of various diseases and health-related issues. Evening Primrose Oil contain several key ingredients which is extensively used for the treatment of nerve-related problems. Evening primrose oil is also able to treat skin and hair-related ailments, such as acne and hair loss, which is one of the major concerns among the young population, especially in Europe and North America. Moreover, evening primrose oil has shown significant results in clinical trials for the treatment of infertility and type 2 diabetes. In addition, evening primrose oil has the ability to treat several ailments, which include infertility, asthma and osteoporosis, among others. These benefits are leading to a boom in the usage of evening primrose oil. Thus, the export of evening primrose oil has increased from US$ 669.2 million in 2002 to US$ 2.4 billion in 2016. This can be attributed to the fact that evening primrose oil is a good alternative for several synthetically produced medicines in addition to being affordable & easily available.
Global Evening Primrose Oil: A Regional Outlook:-
Evening primrose oil is highly consumed in North America, particularly in the USA, Mexico and Europe, in countries such as France, Germany and the U.K., due to lifestyle, environmental factors and the food consumed. The population in these regions consumes more processed food and dietary supplements in daily life. In the Asia Pacific region, the production and processing of evening primrose oil in cosmetics and personal care products is on the rise due to a significant increase in the population. China is the top exporter of evening primrose oil and the U.S. is the top importer of evening primrose oil in the world. In the Middle East and African regions, the consumption of evening primrose oil is low owing to the lack of knowledge about the product, which can be easily overcome.
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