Wheat Germ Oil Market

Global Wheat germ oil Market Size (2024 to 2029)

As per our analysis report, the global Wheat germ oil Market is expected to reach USD 390.41 Million by 2029 from USD 278.23 Million in 2024, growing at a compound annual growth rate (CAGR) of 7.01 % during the forecast timeline.

North America is expected to grow at a higher rate in the market owing to the strong consumer awareness and demand for health and wellness products. The major restraints that are hindering the growth of the wheat germ oil market include fluctuations in wheat prices and limited shelf life coupled with the susceptibility to oxidation.

Global Wheat germ oil Market Drivers:

The growing demand for the animal feed market, where wheat germ oil is gaining recognition for its use because of its nutritional content, is expected to drive the wheat germ oil market during the forecast period. Pet owners are more focused on purchasing more nutritious and healthy feed for their pets; this has resulted in the increasing demand for high-quality feed ingredients. Pet feed manufacturers are also focusing on the incorporation of wheat germ oil into feed products to enhance their nutritional value and meet consumer demand. This incorporation results in the addition of antioxidants into feed that play a vital role in the enhancement of the quality and stability of the meat products. Wheat germ oil is used in pet dietary supplements to improve the skin health of the pet. It contains vitamin E, which plays a vital role in improving and healing the skin. It also ensures that shedding, scratching, and flaking of the skin is controlled.

The booming food and beverage industry is expected to drive the wheat germ oil market. Over the past few decades, wheat germ oil has had notable growth in the food and beverage industry. The wheat germ oil is pale yellow in color, viscous, odorless, oily, and liquid. This makes it more attractive to the food manufacturers as it does not alter the desired taste or smell of the final products. It is found to be a potential alternative to synthetic antioxidants, which are used to extend the shelf life of food products, mostly bakery ingredients that have a shorter shelf life. It is also used as an antioxidant in the bakery, snacks, and processed food to increase the shelf life. All these industries have thrived hard over the past decades, creating high-growth opportunities for wheat germ oil manufacturers with a predictable future. This resulted in the projected expansion of the wheat germ oil market at a higher rate during the forecast period. 

Global Wheat germ oil Market Restraints:

The major restraints that are hindering the growth of the wheat germ oil market include fluctuations in wheat prices and limited shelf life coupled with the susceptibility to oxidation. Wheat is the major ingredient in manufacturing wheat germ oil, and fluctuations in the price may result in an increase in production costs. Then, either the product may not be available at an affordable cost to the consumers, or manufacturers may face financial problems. They both result in a negative impact on the market growth and adoption of the product. The shelf life of the wheat germ oil is low, making it difficult to store and creating a challenging situation for the manufacturers to utilize it. The increased storage may result in the oxidation of the oil, causing it to be unfit for utilization in any of the production processes. Even though the increasing awareness about the health benefits of wheat germ oil, these restraints will limit the expansion of the market into new categories. 

Impact of COVID-19 on the Wheat Germ Oil Market:

The COVID-19 pandemic has had a significant impact on the wheat germ oil market. There are supply chain disruptions, lockdown imposition, and shifts in consumer behavior. The food service industry has seen a drastic decline in demand due to the implementation of the lockdown, which, in turn, resulted in a decline in the demand for wheat germ oil. However, the rise in the e-commerce sector boosted market share. The increased health consciousness of consumers during COVID-19 has fuelled the growth of the market, and many sectors have started the incorporation of wheat germ oil into the production process of several products. Even though the market was affected during the initial days of the pandemic, it later regained its demand due to the various health benefits present in wheat germ oil and is expected to drive the demand in the coming years.

REPORT COVERAGE: 

This research report on the global Wheat germ oil Market has been segmented and sub-segmented based on nature, end use, distribution channel, and region. 

Global Wheat germ oil Market – By Nature:

• Organic
• Conventional

The organic segment is expected to have a large market share in the wheat germ oil market during the forecast period. The organic wheat germ oil production process does not involve the usage of synthetic pesticides, herbicides, or genetically modified organisms (GMOs). The organic segment aligns with the growing demand for clean, sustainable and skincare options. With the increase in awareness about health and the environment, consumers started searching for organic alternatives, which resulted in the growth of the segment in the market. The rise in consumer concern about the potential health risks associated with the chemical residues in the food and personal care products produced by conventional processes is the major driving factor for the organic wheat germ oil segment growth.

Global Wheat germ oil Market – By End Use:

• Cosmetics
• Dietary Supplements
• Pharmaceuticals
• Food Industry
• Feed Industry
• Others

The food and beverage segment is expected to witness significant growth in the wheat germ oil market in the near future. The major driver for segmental growth is the increasing awareness about the health benefits associated with wheat germ oil and its multipurpose application in the culinary world. Wheat germ oil is rich in nutrients like vitamins, omega-3 fatty acids, and antioxidants, making it a valuable addition to several food and beverage products. The demand for wheat germ oil in the food and beverage sector surges with the increase in consumers' focus on health and seeking out functional ingredients. There is an expanding usage of wheat germ oil in salad dressings, cooking oils, and functional food products, and it is driving the growth of the segment. It adds nutritional value to the food items and makes them more appealing to health-conscious consumers. In addition to this, the high smoke point of the wheat germ oil makes it more suitable for cooking applications and helps in the further expansion of product usage in the culinary world.

Global Wheat germ oil Market– By Distribution Channel:

• B2B
• B2C (Supermarkets/Hypermarkets, Convenience Stores, Online Retailers, Specialty Stores, Store Based Retail)

The online segment is expected to have significant growth in the wheat germ oil market during the forecast timeline. There is a shift in consumer preferences and convenience, and the digitalization of commerce is driving market growth across the world. Nowadays, consumers are turning more to online shopping for their dietary and wellness needs, and wheat germ oil has to adapt to the changing consumer preferences to meet the demand. The convenience of shopping online and the availability of a wide range of product options in the online category are expected to fuel the segment expansion in the market. The ease of access to a broader selection of brands and products for wheat germ oil in online retail stores is one of the major driving factors for the market. In online stores, there is an option for consumers to explore a variety of brands and products and compare the prices and reviews that help them make the correct purchasing decision. This accessibility has aided niche and specialty brands in reaching a wider audience and expanding the market.

Global Wheat germ oil Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

North America is expected to dominate the wheat germ oil market owing to the strong consumer awareness and demand for health and wellness products. The consumers in this Region have increased their focus on their well-being and are willing to purchase products that offer more nutritional benefits. Wheat germ oil is rich in nutrients such as vitamin E, omega-3 fatty acids, and antioxidants, which align with the requirements of health-conscious consumer preferences, fuelling its popularity in this Region. The presence of a robust and diverse food and beverage sector in this Region is another major driving factor for the growth of the market. Wheat germ oil has wide application in diverse food products such as salad dressings, cooking oils, and functional foods. In this Region, the diversification in the culinary and innovative food processing techniques has led to the usage of wheat germ oil in a variety of recipes and products in such sectors or industries. This makes the food or the product more appealing to consumers who are seeking both taste and nutritional value in their diet plan. 

Asia Pacific wheatgerm oil market is likely to have the fastest growth rate during the forecast period. 

KEY MARKET PLAYERS:

Key Market players of Wheat germ oil Market are Louis Dreyfus Company (LDC), Bunge Limited, Archer Daniels Midland Company (ADM), NutriPlex Formulas Inc, Swanson Health Products, In life Pharma Pvt Ltd, Cargill Inc, Kunhua Biological Technology Co. Ltd, Henan Ingredients Group Co. Ltd, GNLD International Ltd, General Nutrition Centers Inc, NOW Foods, Rivona Naturals

RECENT HAPPENINGS IN THE MARKET:

In 2019, a rose soap that has wheat germ oil as the vital ingredient in it was launched by Rivona Naturals. The wheat germ oil in this product plays a role in declining skin damage and supporting healthy collagen formation. The new rose soap targets skin problems like dry skin, dead skin cells, and skin irritation and gives everlasting smooth skin along with the goodness of the rose.