Global Blackcurrant Seed Oil Market - 2022-2029

Market Overview

Blackcurrant seed oil market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of 4.1% during the forecast period (2022-2029).

The blackcurrant plant is native to Europe and Asia. Its berries are dark purple and contain seeds. The blackcurrant plant is cultivated both commercially and domestically. The raw blackcurrant fruit is rich in vitamin C and polyphenols. Blackcurrant seed oil is derived from seeds of black currant fruit. Blackcurrant seed oil is a nutritional supplement for the human body. It is a rich source of omega 3 and omega 6 fatty acids that are important for maintaining joints. Blackcurrant seed oil is used for high cholesterol or other fats in the blood. Blackcurrant seed oil is the source of gamma-linolenic acid and mostly used to promote hair and nail growth. Increasing usage blackcurrant oil in various end use industries is expected to drive the market growth during the forecast period.

Market Dynamics:

Increasing health benefits with consumption of blackcurrant seed oil

The market is primarily driven by rising demand for blackcurrant seed oil in daily consumption. Blackcurrant seed oil is helpful for cardiovascular health due to polyphenol compounds like flavonoids. Consumption of blackcurrant seed oil can reduce LDL cholesterol and improve the good cholesterol level, which is essential for cardiovascular health. Daily consumption of blackcurrant seed oil reduces the risk of cardiovascular issues such as heart attack. Blackcurrant seed oil is also a rich source of antioxidants. This strong antioxidant fights against free radicles, stabilize free radicles against oxidative damage to the cell and helps prevent various types of disease like macular degeneration. Blackcurrant seed oil also helps to improve the count of white blood cells in the body, improving the immunity system. It contains a high amount of alpha-linolenic acid (ALA), an essential omega-3 fatty acid and gamma-linolenic acid; all these acids have anti-inflammatory infects. The high amount of iron in the blackcurrant seed oil reduces the risk of anemia. Blackcurrant seed oil is a rich source of omega-3 fatty acids, which is essential for many brain-related conditions. Blackcurrant seed oil contains 3 fatty acids: amma linoleic acid, alpha-linolenic acid and stearidonic acid, which are good for hair health. Hence, rising health consciousness and increasing awareness about the regular consumption of blackcurrant seed oil increases the demand for the market. Also, the rising demand for blackcurrant seed oil from the skincare industry drives the market growth.

Market Segmentation:

Organic segment accounted for the highest share in global blackcurrant seed oil market

In 2021, the organic blackcurrant seed oil segment had the highest revenue share of more than XX percent. The market is expected to increase due to its high sustainability and benefits to health. The cold-pressed organic black currant seed oil is dark green and has a typical fruity scent. The organic blackcurrant seed oil has regenerating and cell-protecting properties that are especially beneficial for mature and dry skin. Organic blackcurrant seed oil can also relieve common cold symptoms and lift energy.

In 2021, the liquid blackcurrant seed oil had the highest revenue share of over XX percent. Liquid blackcurrant seed oil has various health benefits, and its liquid form is easy to handle and consume. Liquid oil is easier and faster for body to absorb, and there's no extra chemicals or fillers that other blackcurrant oil capsules may contain. The household, cosmetics & personal care industry has a high demand for the liquid form of blackcurrant seed oil.

Geographical Penetration:

Europe is the dominating region during the forecast period

In 2021, Europe had the highest revenue share of almost XX percent. Germany, France, Russia and Poland are some of the key blackcurrant producing countries in Europe. Poland is one of the leaders in EU in the production of black currants, with the 78% share in the harvest of these fruit in the European Union in 2020. According to CSO estimates, more than 150 thousand tonnes of currants were harvested in total in 2021 in the country. Also, import of the blackcurrant seed oil is increasing in the European region. There continues to be a strong public perception in Europe that natural ingredients are safer and healthier than synthetic substitutes such as blackcurrant seed oil. Hence the demand for organic blackcurrant seed oil is increased. The market is growing due to rising consumer awareness of this region's health benefits of eating blackcurrant seed oil.

Competitive Landscape:

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Several manufacturers and suppliers are working on logistics development and distribution channel enhancement to strengthen their position. Some major market players are Nutraceutical International Corporation, Connoils, Botanical Beauty co. Vando Naturals, Deve Herbes, Now Foods, NutriONN, EPC Natural Products Co., Ltd., Moon Beings, among others. These market players are taking actions like mergers, acquisitions, collaborations, agreements and product launches to increase their sales. For instance, in June 2022, Moon launched The Moon Glow with black currant seed oil. It is rich in 15% GLA and 10% ALA to help promote skin healing and protection.

COVID-19 Impact:

Positive impact on the global blackcurrant seed oil market

Oil produced from blackcurrant seeds contains 13% omega-3 alpha-linolenic acid (ALA) and 17% omega-6 gamma-linolenic acid (GLA). GLA is an essential fatty acid that's important for maintaining a joint's cell structure and function. GLA also suppress inflammatory responses by directly acting on some inflammatory cells. Some researchers believe these may help the immune system and lessen inflammation. During the pandemic, there was increasing demand for immunity boosting supplements and hence, the market was positively impacted. Key players have also launched immunity-boosting products with blackcurrant as a key ingredient. For instance, in April 2020, to fulfill the health needs coming from the COVID-19 epidemic, Vitality Wellness, located in New Zealand, introduced their immune health supplement manufactured from blackcurrants.

The global blackcurrant seed oil market report would provide an access to approximately 69 market data tables, 61 figures and 170 pages