Wheat Germ Oil Market Share, Size, Trends, Industry Analysis Report, By Nature (Organic, Conventional); By End-Use; By Distribution Channel; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jan-2024
- Pages: 118
- Format: PDF
- Report ID: PM3884
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The wheat germ oil market was valued at USD 634.08 million in 2023 and is expected to grow at a CAGR of 5.40% during the forecast period.
Wheat germ oil, derived from the embryo of wheat kernels, is a naturally occurring oil celebrated for its exceptional nutritional profile. It is prized for its abundance of vital nutrients, including vitamin E, omega-3 and omega-6 fatty acids, as well as a variety of essential minerals. These nutrients are linked to a myriad of health benefits, including enhancing skin health, bolstering cardiovascular well-being, and fortifying the body's antioxidant defenses. Wheat germ oil finds frequent use in cooking, dietary supplements, and skincare products owing.
To Understand More About this Research: Request a Free Sample Report
There has been an increase in consumer awareness regarding the nutritional benefits of wheat germ oil. As a result, there is a growing demand for natural and healthy products that contain this ingredient. Health-conscious consumers are searching for products that are rich in essential nutrients and do not contain artificial additives. The cosmetics and personal care industry has also recognized the benefits of wheat germ oil and has included it in various products such as moisturizers and anti-aging creams, further increasing its demand. The trend towards plant-based and organic products also supports the market growth. Additionally, market dynamics can differ based on the region and are influenced by various factors, such as changing dietary preferences and economic conditions, to their potential to promote overall health.
Wheat germ oil possesses various characteristics. Wheat germ is a highly nutritious product that contains a significant amount of bioactive compounds. Among vegetable oils, wheat germ oil has the highest tocopherol content, which provides superior health benefits. However, despite its potential health benefits, wheat germ is primarily used as animal feed, and its use in human nutrition is limited. Wheat germ oil is widely used in the food, medicine, and cosmetics industries.
During the initial pandemic outbreak and periods of high local COVID-19 case count, governments implemented strict lockdown measures and travel restrictions, disrupting supply chains and causing logistical challenges. This led to a decrease in the production and distribution of wheat germ oil, as agricultural activities were disrupted, and transportation became more challenging. Additionally, consumer priorities shifted during the pandemic, with a growing focus on health and wellness. This trend boosted the demand for wheat germ oil, which is known for its rich nutritional profile and potential health benefits. However, the supply-side challenges and increased production costs due to pandemic-related safety measures put pressure on prices, affecting both consumers and producers. As the world continues to navigate the uncertainties of the pandemic, the wheat germ oil market remains subject to fluctuations in supply and demand dynamics, making adaptability and resilience crucial for businesses in this sector.
Furthermore, a rise in the usage of wheat germ oil in the Pet Food Industry is anticipated to drive the market in the forecast period. The number of people owning pets is increasing worldwide, and they are treating their pets as part of their family. Due to this trend, pet owners are now looking for premium and high-quality products for their beloved pets. Wheat germ oil, being a natural and nutrient-rich ingredient, fits perfectly with this trend of humanization in the pet food industry. Pet owners are willing to invest in pet food that offers better nutritional value, which can lead to the growth of the wheat germ oil market in the pet food sector.
Industry Dynamics
Growth Drivers
Increasing use of Wheat Germ Oil in skincare and cosmetics across the Globe will Facilitate Market Growth
The increasing utilization of wheat germ oil in cosmetics and skincare products can be attributed to its remarkable array of beneficial properties and the growing consumer preference for natural and holistic skincare solutions. Wheat germ oil is exceptionally rich in vitamins E and B, antioxidants, and essential fatty acids, making it a sought-after ingredient for enhancing skin health and beauty. Its potent antioxidant content helps protect the skin from the damaging effects of free radicals, which can lead to premature aging and various skin issues. Furthermore, wheat germ oil's exceptional moisturizing capabilities lock in hydration, combat dryness, and maintain skin suppleness. It is also recognized for its skin-repairing attributes, aiding in the reduction of scars and blemishes. With the rising demand for clean, natural, and effective skincare solutions, wheat germ oil has emerged as a versatile and appealing ingredient that aligns perfectly with the evolving preferences of health-conscious consumers in the cosmetics and skincare industry.
Wheat germ oil is a popular hair care ingredient for its nourishing and moisturizing properties. It adds luster to hair and is found in many conditioners, masks, and serums. The cosmetics industry uses it widely due to the increasing preference for natural hair care products.
Report Segmentation
The market is primarily segmented based on nature, end-use, distribution channel and region.
|
By Nature |
By End-Use |
By Distribution Channel |
By Region |
|
|
|
|
To Understand the Scope of this Report: Speak to Analyst
By Nature Analysis
The Organic segment accounted for the largest revenue share in 2022
In 2022, the Organic segment accounted for the largest revenue share. Organic wheat germ oil is manufactured without the utilization of herbicides, synthetic pesticides, or genetically modified organisms (GMOs), in harmony with the escalating preference for pure and transparent choices in the realms of nourishment and skincare. With consumers displaying heightened health awareness and environmental consciousness, the demand for organic options is surging, catalyzing the expansion of this market category. A pivotal catalyst behind the surge in the organic wheat germ oil sector is the surging apprehension among consumers regarding potential health hazards linked to chemical residues found in conventionally manufactured food and personal care items.
By End-Use Analysis
The Food and Beverages segment is anticipated to witness remarkable growth in the upcoming years
The Food and Beverages Segment is anticipated to witness remarkable growth in the upcoming years, Wheat germ oil is gaining significant attention due to its versatile applications in the culinary realm, as well as its potential health benefits. Packed with essential nutrients such as omega-3 fatty acids, Vitamin E, and antioxidants, it has become a valuable ingredient in various food and beverage products. The demand for wheat germ oil within the food and beverage industry has experienced a notable surge as consumers increasingly prioritize their health and seek out functional ingredients. One of the primary reasons driving this growth is the expanding use of wheat germ oil in salad dressings, cooking oils, and functional food items. By adding a delightful nutty flavor profile and enhancing the nutritional content of these products, wheat germ oil has made them more appealing to health-conscious individuals.
Nutritional Supplement Segment has been experiencing study growth in the forecast period, there is a growing awareness of the health benefits associated with wheat germ oil. This oil is known for its high levels of vitamin E, a powerful antioxidant that helps protect cells from damage caused by free radicals. Moreover, wheat germ oil is an excellent source of omega-3 fatty acids, which are vital for maintaining heart and brain health. As consumers become more educated about the nutritional value of wheat germ oil, they are increasingly incorporating it into their diets as a dietary supplement. Overall, wheat germ oil is a highly beneficial addition to one's diet due to its various health benefits.
In recent years, the wellness and fitness trend has gained significant momentum. People are actively seeking natural and holistic approaches to improve their overall well-being. Wheat germ oil, which contains a variety of nutrients, is a perfect fit for this trend. It is often marketed as a supplement that can support skin health, boost immune function, and enhance overall vitality. This has made it increasingly popular in the nutritional supplement industry.
Regional Insights
North America dominated the largest market in 2022
In 2022, North America dominated the largest market contributor in the wheat germ oil market, with the United States foremost in revenue. North American consumers have progressively placed greater emphasis on their overall well-being and exhibit a readiness to invest in products that offer substantial nutritional advantages. Wheat germ oil, renowned for its abundant reserves of omega-3 fatty acids and antioxidants, seamlessly aligns with these health-conscious preferences, propelling its widespread acceptance within the region.
Moreover, the presence of a thriving and diverse food and beverage industry in North America serves as another crucial driver. Wheat germ oil boasts extensive utility across a spectrum of culinary applications, including its incorporation into salad dressings, cooking oils, and functional foods. The region's rich culinary diversity and innovative food processing techniques have fostered the integration of wheat germ oil into a multitude of recipes and product offerings. This culinary versatility appeals to consumers who seek both gastronomic delight and robust nutritional value in their choices.
Europe has been experiencing fast growth in the forecast period of time. The cosmetics industry has experienced steady growth due to the presence of numerous renowned brands and a growing focus on natural and organic ingredients. Wheat germ oil, in particular, has shown a strong demand in Western European countries like Germany and France, primarily because of its use in skincare. Moreover, these countries have well-established distribution networks and consumer awareness about the health benefits of wheat germ oil.
Europe has a robust agricultural sector with a strong focus on wheat cultivation. Germany, France, and Poland are among the top wheat-producing countries in Europe. The region boasts a well-established agricultural infrastructure and favorable climatic conditions, which contribute to the abundant supply of wheat germ - a crucial raw material for producing wheat germ oil.
Key Market Players & Competitive Insights
The market is characterized by intense competition, with established players relying on advanced technology, high-quality products, and a strong brand image to drive revenue growth. These companies employ various strategies such as research and development, mergers and acquisitions, and technological innovations to expand their product portfolios and maintain a competitive edge in the market.
Some of the major players operating in the global market include:
- Archer Daniels Midland Company
- Agroselprom LLC
- Aryan International
- Bunge Limited
- Cargill Inc.
- Gustav Heess GmbH
- Hebei Jiafeng Plant Oils Co., Ltd.
- Henan Kunhua Biological Technology Co., Ltd.
- Inlife Pharma Pvt. Ltd
- KUNHUA BIOLOGICAL TECHNOLOGY CO. LTD
- NOW Foods
- Nutriplex Formulas Inc.
- Shaanxi Bolin Biotechnology Co., Ltd.
- The J.M. Smucker Company
- Viobin Corporation
Recent Developments
- In March 2022, SkinKraft Laboratories, India's pioneering personalized beauty and personal care brand powered by artificial intelligence, broadened its haircare portfolio by introducing two new product lines: hair oils and hair masks. SkinKraft's Scalp Quench Hair fall Oil, a key addition to this expansion, boasts a carefully crafted formula featuring a blend of enriching natural oils, designed to fortify and enhance the hair's strength and shine starting from the roots.
- In May 2021, Atulya introduced a vegan hair care product featuring wheat germ oil as a primary ingredient, complemented by the inclusion of olive oil, almond oil, hibiscus oil, and more.
- In January 2021, Renee Cosmetics launched two new skincare products called Texture-Free Oil and Glass-Glow Oil. These oils can be applied before or after makeup to provide a radiant and flawless look to the skin. The brand has made sure to use top-quality ingredients in the oils, and they are also committed to being cruelty-free, paraben-free, and FDA-approved. With this launch, the brand has expanded its product range into skincare while maintaining its focus on user-friendly, expertly crafted, and distinctive products.
Wheat Germ Oil Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2024 |
USD 666.61 Million |
|
Revenue forecast in 2032 |
USD 1,015.30 Million |
|
CAGR |
5.40% from 2024 – 2032 |
|
Base year |
2023 |
|
Historical data |
2019 – 2022 |
|
Forecast period |
2024 – 2032 |
|
Quantitative units |
Revenue in USD million and CAGR from 2024 to 2032 |
|
Segments Covered |
By Nature, By End-Use, By Distribution Channel, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
|
Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
© 2024 Polaris Market Research and Consulting. All rights reserved
