Wheat Germ Oil Market Size, Share, Growth Report 2032

Wheat Germ Oil Market Size & Industry Analysis:

The global wheat germ oil market size was worth around USD 600 million in 2021 and is predicted to grow to around USD 1001 million by 2028 with a compound annual growth rate (CAGR) of roughly 5.35% between 2022 and 2028. The report analyzes the global wheat germ oil market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the wheat germ oil market. 

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Wheat Germ Oil Market: Overview

The oil extracted from the germ that thrives on wheat kernels is called wheat germ oil. The living organism makes up to 2.5% of the total weight of the wheat kernel. The oil generated from the germs is a rich source of octacosanol which is a long chain & saturated primary alcohol made of 28-carbon. Octacosanol has created growing interest amongst researchers for its attributes related to physical performance-enhancing qualities. Wheat germ oil exhibits an extremely high content of vitamin E which is around 255 milligrams per 100 grams of the grain. This quantity is the highest amongst any other vitamin E-supplying sources that have not undergone vitamin fortification. When purchased in the form of cooking oil, it can be expensive and has a high perishable rate with a strong flavor.

Key Insights

• As per the analysis shared by our research analyst, the global wheat germ oil market is estimated to grow annually at a CAGR of around 5.35% over the forecast period (2022-2028)
• In terms of revenue, the global wheat germ oil market size was valued at around USD 600 million in 2021 and is projected to reach USD 1001 million, by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate
• Based on application type segmentation, the cosmetics & personal care industry was predicted to show maximum market share in the year 2021
• Based on distribution segmentation, business-to-customer was the leading distribution in 2021
• On the basis of region, Asia-Pacific was the leading revenue generator in 2021

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Wheat Germ Oil Market: Growth Drivers

Growing applications in the cosmetics industry to propel market demand

The global wheat germ oil market is anticipated to witness surging growth in the application of the product in the personal care and cosmetics segment which is one of the fastest-growing industries with billions of consumers. The beauty industry of Australia is growing at a high CAGR and currently employs more than 120,000 people with a revenue of AUD 8.4 billion, as of 2022. Growing population, consumer awareness, and higher accessibility to the products are major reasons for growth in the personal care segment. Wheat germ oil has incredible results when used over time. For instance, it is known to be a potent antioxidant. These are substances that can help the skin fight damages caused due to environmental aggressors like pollution and ultraviolet (UV rays), also called oxidative damage. Hence, antioxidants have gained a massive following amongst the end-consumers which has resulted in more demand for rich sources of these substances like wheat germ oil.

Wheat Germ Oil Market: Restraints

High cost to restrict market expansion

Wheat germ oil is expensive owing to the long extraction process involved during production. Although wheat is grown in huge quantities across the globe, sourcing raw materials may not be difficult. However, the production process makes use of cold-press technology without any exposure to light or oxygen to avoid deterioration of the important nutrients. These factors combined lead to an increase in the final cost of the product. Given the exceptional benefits and high demand, as a standard rule of the economy, the price of the product is always high to maintain a level of exclusivity amongst the population.

Wheat Germ Oil Market: Opportunities

Growing applications in the pet industry to provide more growth opportunities

The global wheat germ oil market is projected to benefit from the increasing research and subsequent application of wheat germ oil in the pet industry, especially for dog care. Since wheat germ oil is highly rich in omega-3 which is a fatty acid that is capable of preventing stroke, and heart disease, amongst other medicinal benefits, they assist in keeping the animal health but have to be consumed under the guidance of qualified veterinarians. As the industry for animal care grows, the demand for wheat germ oil may be propelled toward new growth opportunities.

Wheat Germ Oil Market: Challenges

Side-effects associated with the oil to challenge market growth

Some people might be allergic to wheat germ oil and it is known to cause gas, diarrhea, dizziness, and nausea when consumed without proper medical consultation from the doctors. Hence, it is always recommended to contact a healthcare provider before consuming any external form of nutrients or medicines. Generally, doctors recommend 15 milligrams of wheat germ oil per day, however, every person has different requirements and overconsumption can lead to an upset stomach.

Wheat Germ Oil Market: Segmentation

The global wheat germ oil market is segmented based on application, production, distribution, and region.

Based on application, the global market divisions are pharmaceuticals, feed industry, food & beverages, dietary supplement, cosmetics & personal care industry, and others. In 2021, the global market registered the highest returns in the cosmetics & personal care sector owing to growing research & development activities in this segment. As the demand for more inclusive forms of personal care grows owing to reasons like an increase in competition, and the emergence of domestic players providing excellent quality products, amongst other factors, the demand for wheat germ oil is projected to gain higher momentum. It has the property of acting as an exceptional hair moisturizer. When used with other carrier oils in a ratio of 10:1 (10 parts of carrier oil and 1 part of wheat germ oil), it is known to deliver excellent results.

Based on distribution, the global market is divided into business-to-customer, and business-to-business, with business-to-consumer leading with the highest global market share. The high CAGR is influenced by the higher use of products in the industries that directly cater to the needs of the general population like healthcare, personal care, dietary supplement, and others. Hence market players can directly create a relationship with the consumers instead. Many providers of hair care ranges use wheat germ oil in their products to increase the product value. The global hair conditioner market may reach a value of USD 10 million by 2028.

Recent Developments:

• In May 2022, SkinKraft Labs, a Hyderabad-based company in the personal care segment, announced the launch of two new products in the hair care segment. These new launches have helped the company expand its product portfolio
• In May 2021, Atulya launched a vegan keratin hair care product that has wheat germ oil as one of the main ingredients along with other olive oil, almond oil, and hibiscus oil amongst others

Wheat Germ Oil Market Report Scope:

Wheat Germ Oil Market: Regional Analysis

Asia-Pacific to dominate market growth with surging numbers

The global wheat germ oil market is projected to grow with the highest CAGR in the Asia-Pacific market owing to the growing demand and adoption of personal care and cosmetic products in the regional market. The Asia-Pacific is currently witnessing a revolution in the personal care industry with a sudden emergence of large consumer groups that are willing to invest in personal care products. This trend can especially be observed in the Chinese and South Korean markets where skincare is one of the highest contributors to the national economy. The evolution of South Korean cosmetics and skin care products has helped Asia-Pacific emerge as a leading territory in this segment. Average per capita spending on skincare, in South Korea, has increased from USD 40 in 2016 to USD 82 in 2021. This rate is higher than the global average rate of USD 9.79.

Wheat Germ Oil Market: Competitive Analysis

Companies like Inlife Pharma Pvt. Ltd., Archer Daniels Midland Company, General Nutrition Centers Inc., Henan Ingredients Group Co. Ltd., GNLD International LTD., Glencore, NutriPlex Formulas Inc., and NOW Foods dominate the global wheat germ oil market.

The global wheat germ oil market is segmented as follows:

By Application

• Pharmaceuticals
• Feed Industry
• Food & Beverages
• Dietary Supplements
• Cosmetics & Personal Care Industry
• Others

By Production

• Inorganic
• Organic

By Distribution

• Business-to-Customer
• Business-to-Business

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa