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.
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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.
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About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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