Wheat Germ Oil Market Size

Wheat Germ Oil Market Growth Projections and Opportunities

The global wheat germ market is poised for substantial growth, projecting a Compound Annual Growth Rate (CAGR) of 3.68% during the forecast period. In 2022, the market's estimated value was USD 991.29 million, and it is anticipated to reach USD 1,306.89 million by the conclusion of the forecast period spanning from 2023 to 2030.

Analyzing the market by product, the wheat germ flour segment held a market share of 30.99% in 2022, and it is expected to showcase a CAGR of 3.71% throughout the forecast period. This is attributed to the widespread use of wheat germ flour in various baked goods, including bread, muffins, cookies, and biscuits. The global bakery industry's expansion is set to drive the sales of wheat germ flour, with an anticipated annual revenue of USD 1.25 trillion in 2023, reflecting a 7.59% yearly growth, according to MRFR analysis.

In terms of category, the organic segment dominated the wheat germ market in 2022, owing to the presence of major players offering a diverse range of organic wheat germ products. Lekithos Inc., for instance, provides Lekithos organic wheat germ flakes known for being rich in folate, iron, protein, dietary fiber, manganese, phosphorus, thiamin, magnesium, and zinc. Notably, products from Lekithos emphasize purity, containing no carriers, fillers, synthetic substances, additives, preservatives, or chemical solvents.

The food and beverages segment held a significant market share of 39.63% in 2022. This is attributed to increasing government support, such as India's "Make in India" strategy, which focuses on strengthening the food processing sector. Government initiatives, including the development of cold chain projects and mega food parks, contribute to the growth of the food processing industry. Additionally, recent measures like the USD 1.35 billion program announced by the finance minister, Mrs. Nirmala Sitharaman, further support the industry's robust trajectory.

In the residential sector, the global wheat germ market experienced substantial growth during the forecast period, driven by the growing population in the Asia-Pacific (APAC) region. According to IBEF, India's urban population is expected to rise from 33% to over 40% by 2030, necessitating the construction of an additional 25 million affordable and midrange housing units.

Regarding distribution channels, the B2C segment held a market share of 30.91% in 2022 and is anticipated to exhibit a CAGR of 3.49% in the upcoming years. This growth is attributed to the advantages offered by supermarkets and hypermarkets, providing consumers with a wide array of options. The ability to choose from various wheat germ brands enhances the overall customer experience.

The cosmetic industry's escalating demand for wheat germ is a significant factor contributing to market growth. Wheat germ carrier oil is recognized for its skin-softening and elasticity-promoting properties, along with its ability to protect and moisturize the skin. The oil's anti-aging qualities contribute to reducing outward signs of aging, such as wrinkles. The beauty and personal care market's cosmetics section is anticipated to generate significant global revenue, reaching USD 125,409.14 million by 2027, according to MRFR analysis.

Furthermore, the rising consumer demand for organic and natural ingredient products due to associated health benefits has driven increased sales, fostering market growth. Over the past 15 years, sales of organic food have consistently risen, reaching USD 57.5 billion in 2021. The pandemic-induced rise in health consciousness in 2020 led to a significant increase of USD 6.43 billion between 2019 and 2020.