REPORT OVERVIEW
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The global perilla oil market size was 874.9 million in 2021. As per our research, the market is expected to reach USD 1785.5 million in 2028, exhibiting a CAGR of 10.6% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels once the pandemic is over.
Perilla oil is an edible vegetable oil. The oil is derived from perilla seeds. The oil has diverse nutty taste and aroma. The oil is extensively used as a culinary oil. The oil is rich in omega-three fatty acids.
The market growth is attributed to the growing demand for edible oil in cooking, margarine spreads, salad dressings, and others. The oil is obtained through cold pressing method and the oil is greenish-yellow in color and the taste nutty flavor. The oil is extensively used in food & beverage sector. The edible oil has high nutritional value and stable shelf life. The oil is used for cooking in European, Middle Eastern, and Asian regions. The oil is used as an anti-inflammatory agent and it is considered as good for health. Growing demand for health-conscious population among today’s population is anticipated to accelerate market growth. Rise in need for omega-rich food products and huge need for healthy cooking oil is anticipated to create positive opportunities for market progress. Huge demand for organic food products and increased need for eco-friendly product is anticipated to accelerate market progress in the coming years. On the contrary, high cost of the oil is estimated to harm market growth in the forthcoming years.
COVID-19 Impact: Halt in Export & Import Activities to Hamper Market Growth
The sudden spread of COVID-19 pandemic hamper food & beverage sector. Lockdown restrictions and lower rate of employee to hinder market growth. Further, closure of stores and halt in export & import activities to hamper market growth.
LATEST TRENDS
"Huge Demand for the oil in Cosmetics Sector to Foster Market Growth"
The increased demand for perilla seed oil in cosmetic sector. The oil is used to manufacture beauty products. The oil is also used to treat skin conditions such as atopic dermatitis. The oil helps to reduce scars appearance. Oil has free radicals and the oil is used for manufacturing face creams, body lotions, and sunscreens. These extensive usage of the oil in cosmetic sector is anticipated to fuel market growth in the coming years.
SEGMENTATION
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- By Type
Based on type, the market is divided into toasted perilla oil and untoasted perilla oil.
Toasted perilla oil is expected to be the top part of type segmentation.
- By Application
Based on the application, the market is divided into edible oil, pharma & supplements, and cosmetics.
Pharma & supplements are expected to be the top part of application segmentation.
DRIVING FACTORS
"Broad Usage in Pharma & Supplements Sector to Accelerate Market Growth"
The increased demand for the oil in pharmaceutical sector is to improve the bioavailability of the active components in any medicine. The oil helps to reduce the side effective and improve medicine quality. Rapid development in pharmaceutical sector and ongoing R&D activities is anticipated to accelerate market growth. Huge demand for organic food products and increased need for eco-friendly product is anticipated to accelerate market progress in the coming years.
"Growing Demand for Edible Oil to Boost Product Demand"
Growing demand for edible oil in cooking, margarine spreads, salad dressings, and others. The oil is obtained through cold pressing method and the oil is greenish-yellow in color and the taste nutty flavor. The oil is extensively used in food & beverage sector. The edible oil has high nutritional value and stable shelf life. The oil is used for cooking in European, Middle Eastern, and Asian regions. The oil is used as an anti-inflammatory agent and it is considered as good for health. Growing demand for health-conscious population among today’s population is anticipated to accelerate market growth. Rise in need for omega-rich food products and huge need for healthy cooking oil is anticipated to create positive opportunities for market progress in the coming years.
RESTRAINING FACTORS
"Higher Cost of Perilla Seed Oil to Reduce Market Progress"
The high cost of the oil is estimated to harm market growth in the forthcoming years.
REGIONAL INSIGHTS
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"Huge Demand for Edible Oil in North America to Drive Market Share "
North America is estimated to hold significant perilla oil market share owing to growing demand for edible oil in cooking, margarine spreads, salad dressings, and others. The oil is obtained through cold pressing method and the oil is greenish-yellow in color and the taste nutty flavor. The oil is extensively used in food & beverage sector. The edible oil has high nutritional value and stable shelf life. The increased demand for perilla seed oil in cosmetic sector. The oil is used to manufacture beauty products. The oil is also used to treat skin conditions such as atopic dermatitis. The oil helps to reduce scars appearance. Oil has free radicals and the oil is used for manufacturing face creams, body lotions, and sunscreens. These extensive usage of the oil in cosmetic sector is anticipated to fuel perilla oil market growth in the coming years.
KEY INDUSTRY PLAYERS
"Leading Players Adopt New Strategies to Stay Competitive"
The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- Hubei Shizhen
- Hebei Jiafeng Plant Oil
- Hunan Yamei Biotechnology
- Sanmark
- San Sheng Nong Lin
- Huanan Nongsheng
- Zonghoo Jianyuan Biotech
- Komega
- Ota Oil
- Gustav Heess
REPORT COVERAGE
This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
| Market Size Value In | US$ 874.9 Million in 2021 |
| Market Size Value By | US$ 1785.5 Million by 2028 |
| Growth Rate | CAGR of 10.6% from 2021 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| Historical Data Available | Yes |
| Segments Covered | Type and Application |
| Regional Scope | Global |
Frequently Asked Questions
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What value is perilla oil market expected to touch by 2028?
The global perilla oil market size is expected to reach USD 1785.5 million by 2028.
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What CAGR is perilla oil market expected to exhibit by 2028?
The perilla oil market is expected to exhibit a CAGR of 10.6% by 2028.
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Which are the driving factors of the perilla oil market?
The driving factors of the perilla oil market are broad usage in pharma & supplements sector and growing demand for edible oil.
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Which are the key player or most dominating companies functioning in the perilla oil market?
Hubei Shizhen, Hebei Jiafeng Plant Oil, Hunan Yamei Biotechnology, Sanmark, San Sheng Nong Lin, Huanan Nongsheng, Zonghoo Jianyuan Biotech, Komega, Ota Oil, and Gustav Heess are the key player or most dominating companies functioning in the perilla oil market.
