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An increasing application of linseed oil in several industries including food, cosmetics and pharmaceuticals as striking ones, are expected to drive demand. The market dynamics over the past few years have witnessed some changes, one of which is significant demand from variety of end-use industries.
How much linseed oil is produced in 2021?
According to the most recent estimates by the UN-FAO and the national statistical offices, the global linseed oil production in 2021 decreased by 3,8% to 792,9 thousand tons. In previous years, world linseed oil production grew by 2019% in 2,6 and by 2020% in 2,4. In 2020, production reached an all-time high of 824,2 thousand tons.
Why is the global linseed oil market growing?
The main reason for the growth was the increase in production in China, India and Russia. In 2017-2020, global linseed oil production grew at CAGRs of 1,4%. Overall, the world flaxseed oil market is stable with a weak growth trend in nature.
How much linseed oil is produced in Russia?
Production of linseed oil in Russia has reached 35,4 thousand tons. The total share of the five largest linseed oil producers in 2021 amounted to 69,0% of global production. World consumption of linseed oil shows stable dynamics for 2017-2021 with a significant increase in consumption in 2020 to 833,7 thousand tons.