Research report published by Markets N Research Wheat Germ Oil Market, By Nature: (Organic and Conventional), By End Use (Cosmetics & Personal Care, Dietary Supplements, Pharmaceuticals, Food, and Others) Market - Growth, Future Prospects, Post COVID-19 Scenario 2020 – 2028”, states that the global wheat germ oil market is expected to grow at a CAGR of 6.9% during the forecast period from 2020 to 2028.
The market for wheat germ oil is growing at a lucrative rate. The growing demand for wheat germ oil especially from the cosmetics & personal care sector is the crucial factor that is boosting the growth in global market. As wheat germ oil is rich in vitamin B6, folic acid, and vitamin E in the oil which helps in maintaining even skin tone and also fast-tracks healthy collagen formation. It also effectively moisturizes the skin as it is readily absorbed making the skin soft and smooth. The wheat germ oil contains linoleic acid, a useful ingredient that maintains healthy hair and acts as a hair nourisher. In addition to this, it also exhibits antioxidants & anti-aging properties and promotes healthy skin by preventing several skin problems such as dry skin, eczema, and psoriasis. All such benefits of wheat germ oil have gained tremendous popularity across personal care and cosmetic industries. Further, wheat germ oil also provides numerous health benefits such as lowers LDL cholesterol, boosts energy capacity, and reduces stress levels.. Athletes seek dietary supplements to boost stamina & for physical fitness and wheat germ oil is an ideal choice that is triggering the demand, thus, fueling the growth of the market.
Moreover, an increase in online sales of the product owing to growing online retailers, rise in preferences for online shopping due to hassle free delivery, and large number of discounts & offers provided by eCommerce platforms is equally contributing to the growth of the market. Factors such as, increase in demand for wheat germ oil in feed industry as it serves as protein-rich feed for animals and growing investments by the manufacturers for innovative product launch & R&D activities are further bolstering the growth of the global market. The growing consumer base of wheat germ oil in developing countries and penetration of local wheat germ oil manufacturers in the market are equally contributing to the overall market growth. On the other hand, the high cost of wheat germ oil as compared to other vegetable oils may impede the growth of global wheat germ oil market. However, increasing demand for exotic foods from consumers produced from natural sources may generate beneficial opportunities for the growth of the global wheat germ oil market over the forecast period.
Current COVID-19 pandemic conditions harm the growth of the wheat germ oil market. This is primarily due to disruption in the supply chain that affected the overall Agri and food sector. Along with this, strict regulations imposed by many governments regarding transportation, manufacturing process, labor movements, and retail sale has caused significant damage to the growth of the market. The pandemic significantly reduced the overall revenue in 2020, however, with improvement in conditions and control over the spread of infection, many end-use sectors are expected to start their functional activities at a rapid pace. This may improve the overall wheat germ oil market condition over the forecast period.
The Wheat Germ Oil market is categorized based on the nature of wheat oil and its end-use. Based on nature, the wheat germ oil is bifurcated into organic and conventional. Among these, the organic segment keeps a major share and is expected to dominate the market over the forecast period. Different end-use scoped under this report include cosmetics & personal care, dietary supplements, pharmaceuticals, food, and others.
Wheat germ oil is fragmented vastly and major players in the market are following organic growth strategies such as mergers & acquisitions to expand their customer base, key players in the market include CONNOILS LLC, NOW Foods, General Nutrition Centers, Inc., Swanson Health Products, Country Life, LLC, VIOBIN USA., Inlife Pharma Pvt. Ltd., KUNHUA BIOLOGICAL TECHNOLOGY CO., LTD, NutriPlex Formulas Inc., and Henan Ingredients Group Co. Ltd., etc.
Trends and Future Outlook:
Increasing inclination of younger generation towards dedicated skincare routines has upward the demand for natural oil products, which is supporting the growth of wheat germ oil market.