Key Takeaways from Market Study
- The oryzanol market in India and China is expected to grow at CAGRs of 8.6% and 7.6%, respectively, through 2031.
- By application, cosmetic & personal care is witnessing a prominent market value share at more than 30%. Key contributing factor for this growth is the natural and nutritional properties of oryzanol.
- Europe and North America hold more than 50% share of the global market, mainly on the back of high consumption of oryzanol-based products in these regions.
- In Asia Pacific, manufacturers are increasingly producing oryzanol owing to the high availability of raw material at low cost and increasing number of end-use industries in countries such as China, India, Indonesia, and Thailand.
- Application of oryzanol in dietary supplements is expected to surge over the forecast period.
- The U.K., Germany, Italy, France, and Spain hold prominent shares for oryzanol in Europe.
- COVID-19 has had a moderate impact on the growth of the oryzanol market. However, with increasing demand for natural and nutritious products, losses are expected to be recovered in the near term.
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“General trend of healthier lifestyles and growing focus on personal health and beauty among consumers are key factors driving demand for cosmetic and personal care products as well as dietary supplements. Thus, oryzanol manufacturers could gain increased profits from these sectors,” says a…