The global gamma oryzanol market is expected to reach USD 2.06 billion by 2022, according to a new report by Grand View Research, Inc. Increasing consumer awareness towards a healthy lifestyle is expected to drive product demand over the next seven years.
Improper diet intake coupled with rising health treatment expenditure has urged consumers to switch to alternatives, such as dietary supplements, that offers a balanced diet. Gamma oryzanol plays a significant role in boosting good cholesterol and minimize adverse impacts of unhealthy diet intake.
Rapid urbanization coupled with increasing participation in health clubs and fitness activities are expected to play a vital role in industry growth over the forecast period. High product price along with the lack of consumer awareness are expected to remain major factors hindering market growth.
Technological innovation in the industry includes research initiatives to enhance yield rate from rice bran oil that is anticipated to reduce production costs and enable market players to attain economies of scale.
Ongoing technological innovations along with increasing R&D spending is expected to provide significant opportunities for gamma oryzanol manufacturers over the forecast period.
Sports supplement emerged as the principal application segment and accounted for over 40% of total revenue in 2014. The segment is anticipated to witness moderate growth rate owing to high requirement of gamma oryzanol as an essential supplement for sports nutrition.
Further key findings from the report suggest:
- The global gamma oryzanol market demand was 11,520.0 tons in 2014 and is expected to reach 18,597.8 tons by 2022, growing at an estimated CAGR of 6.2% from 2015 to 2022
- Gamma oryzanol demand in cosmetic applications is anticipated to witness the highest growth over the forecast period. The segment is estimated to grow at a CAGR of 6.9% in terms of demand from 2015 to 2022.
- The product demand in animal feed in the U.S. was over 710 tons in 2014. High requirement of the micronutrient in horses and dogs to enhance muscle development may be attributed to significant development in the segment.
- Europe was the leading regional market and accounted for 30% of total consumption in 2014. The increasing acceptance of sports supplements as an essential form of nutrition in the UK, Italy, and Germany is expected to remain a key factor driving regional market.
- Asia Pacific is estimated to witness the highest growth of 7.1%over the forecast period. Abundant raw material availability coupled with significant developments in cosmetics and animal feed sectors particularly in Japan, China, Vietnam, and India are anticipated to steer industry growth.
- Key players operating in the global gamma oryzanol market include Oryza Oil & Fat Chemical Co., Ltd., Jining Ankang Pharmaceutical, Honson Pharmatech Group, KangCare Bioindustry, Lamotte Oils, Tsuno Rice, Xi’an Realin Biotechnology, Shanghai Freemen LLC, Chromadex Inc., and Sunrise Nutrachem Group Co. Ltd.