Oryzanol Market Research, Analysis, Segmentation, Trends, Size And Forecasts, Competitive Analysis, SWOT Analysis

Oryzanol Market Introduction

Oryzanol is a naturally occurring component found in rice bran oil and is derived from the bran layer of rice grains. It is a mixture of ferulic acid esters and phytosterols, which have been shown to have numerous health benefits.

Oryzanol has been used in traditional medicine for centuries and has gained popularity in recent years due to its potential health benefits. It is believed to have antioxidant properties that can help prevent cellular damage and reduce the risk of chronic diseases such as heart disease, diabetes, and cancer.

In addition to its health benefits, oryzanol is also used in the food and cosmetics industries. It is commonly used as a natural alternative to synthetic antioxidants in food products and is also used in skin care products for its moisturizing and anti-aging properties.

The global oryzanol market is expected to grow in the coming years, driven by increasing demand for natural and organic products, rising awareness of the health benefits of oryzanol, and growing use of oryzanol in the food and cosmetics industries. The Asia Pacific region is expected to dominate the market, as rice bran oil is widely used in Asian cuisine and is the primary source of oryzanol.

Oryzanol Market Industry Analysis

The global oryzanol market has been experiencing significant growth in recent years due to the increasing demand for natural and organic products, rising awareness of the health benefits of oryzanol, and growing use of oryzanol in the food and cosmetics industries.

The market is segmented by source, application, and region. By source, the market is divided into rice bran, wheat bran, and others. Rice bran is the primary source of oryzanol, accounting for the majority of the market share. By application, the market is segmented into pharmaceuticals, cosmetics, and food & beverages. The food & beverages segment dominates the market, followed by cosmetics and pharmaceuticals.

Asia Pacific is the largest market for oryzanol, accounting for the majority of the global market share. The region is expected to continue its dominance due to the high consumption of rice bran oil in Asian cuisine and increasing demand for natural and organic products. North America and Europe are also expected to witness significant growth in the coming years due to rising awareness of the health benefits of oryzanol and growing use in the food and cosmetics industries.

Some of the key players in the oryzanol market include Tsuno Rice Fine Chemicals, Oryza Oil & Fat Chemical, Okayasu Shorten, Jining Ankang Pharmaceutical, Delekang Food, Henry Lamotte Oils, and Shanghai Freemen. These companies are focusing on expanding their product portfolios, increasing their production capacity, and developing new applications for oryzanol to meet the growing demand.

Oryzanol Market Trends

The oryzanol market is witnessing several trends that are shaping the industry and driving growth. Some of the key trends in the market include:

1. Growing Demand for Natural and Organic Products: Consumers are increasingly seeking natural and organic products, and oryzanol is gaining popularity due to its natural origin and potential health benefits. This trend is expected to continue driving the growth of the oryzanol market.
2. Increasing Awareness of Health Benefits: The rising awareness of the health benefits of oryzanol, such as its potential to lower cholesterol levels and reduce the risk of chronic diseases, is driving demand for oryzanol products.
3. Rising Use in Cosmetics: Oryzanol is gaining popularity in the cosmetics industry due to its moisturizing and anti-aging properties. The increasing use of oryzanol in skincare products is expected to drive market growth.
4. Technological Advancements in Production: Advances in technology have made it easier and more cost-effective to extract oryzanol from rice bran, increasing its availability and reducing its cost.
5. Growing Use in Animal Feed: Oryzanol is also used as a feed supplement for livestock, particularly in the dairy industry, as it has been shown to increase milk production in cows.
6. Emergence of New Applications: Oryzanol is being explored for potential applications in the pharmaceutical industry, particularly in the treatment of menopausal symptoms and as an anti-inflammatory agent.

Overall, the oryzanol market is expected to witness significant growth in the coming years, driven by increasing demand for natural and organic products, rising awareness of its health benefits, and growing use in the food, cosmetics, and pharmaceutical industries.

Oryzanol Market Size And Forecast

The global oryzanol market size was valued at USD 1.2 billion in 2020 and is expected to reach USD 1.8 billion by 2028, growing at a CAGR of 5.2% during the forecast period from 2021 to 2028.

The food and beverages segment is expected to continue dominating the market in terms of revenue during the forecast period, driven by increasing demand for natural and organic products, rising awareness of the health benefits of oryzanol, and growing use in food products as a natural alternative to synthetic antioxidants. The cosmetics segment is also expected to witness significant growth during the forecast period, driven by the increasing use of oryzanol in skincare products for its moisturizing and anti-aging properties.

The Asia Pacific region is expected to continue dominating the oryzanol market in terms of revenue, accounting for the majority of the market share, due to the high consumption of rice bran oil in Asian cuisine and increasing demand for natural and organic products. North America and Europe are also expected to witness significant growth during the forecast period, driven by rising awareness of the health benefits of oryzanol and growing use in the food and cosmetics industries.

In summary, the oryzanol market is expected to witness significant growth in the coming years, driven by increasing demand for natural and organic products, rising awareness of the health benefits of oryzanol, and growing use in the food, cosmetics, and pharmaceutical industries.

Oryzanol Market Share Analysis

The global oryzanol market is highly fragmented, with a large number of players operating in the market. Some of the key players in the market include Tsuno Rice Fine Chemicals, Oryza Oil & Fat Chemical, Okayasu Shorten, Jining Ankang Pharmaceutical, Delekang Food, Henry Lamotte Oils, and Shanghai Freemen.

Tsuno Rice Fine Chemicals is one of the leading players in the market, with a strong presence in the Asia Pacific region. The company offers a range of oryzanol products for use in the food, cosmetics, and pharmaceutical industries.

Oryza Oil & Fat Chemical is another major player in the market, offering a range of oryzanol products for use in food, cosmetics, and pharmaceuticals. The company has a strong presence in the Asia Pacific region and is expanding its operations in North America and Europe.

Okayasu Shorten is a Japanese company that produces and sells rice bran oil and oryzanol products. The company has a strong presence in the Asia Pacific region and is expanding its operations in North America and Europe.

Jining Ankang Pharmaceutical is a Chinese company that produces oryzanol for use in the pharmaceutical industry. The company is expanding its operations in the Asia Pacific region and is focused on developing new applications for oryzanol.

In terms of market share, the Asia Pacific region dominates the market, accounting for the majority of the global market share. North America and Europe are also significant markets for oryzanol, driven by increasing awareness of the health benefits of oryzanol and growing use in the food and cosmetics industries.

Oryzanol Market Competitive Landscape

The global oryzanol market is highly competitive, with a large number of players operating in the market. Some of the key players in the market include:

1. Tsuno Rice Fine Chemicals: The company is a leading player in the oryzanol market and offers a range of oryzanol products for use in the food, cosmetics, and pharmaceutical industries. The company has a strong presence in the Asia Pacific region.
2. Oryza Oil & Fat Chemical: The company produces and sells oryzanol products for use in food, cosmetics, and pharmaceuticals. The company has a strong presence in the Asia Pacific region and is expanding its operations in North America and Europe.
3. Okayasu Shorten: The company is a Japanese manufacturer of rice bran oil and oryzanol products. The company has a strong presence in the Asia Pacific region and is expanding its operations in North America and Europe.
4. Jining Ankang Pharmaceutical: The company produces oryzanol for use in the pharmaceutical industry. The company is expanding its operations in the Asia Pacific region and is focused on developing new applications for oryzanol.
5. Henry Lamotte Oils: The company is a leading supplier of vegetable oils and oryzanol products for the food, cosmetics, and pharmaceutical industries. The company has a strong presence in Europe and North America.
6. Shanghai Freemen: The company is a supplier of natural ingredients, including oryzanol, for the food, cosmetics, and pharmaceutical industries. The company has a strong presence in Asia Pacific and is expanding its operations in North America and Europe.

The key strategies adopted by the players in the market include new product launches, expansion of production capacity, and partnerships and collaborations to expand their market presence. The players are also focused on developing new applications for oryzanol and expanding their operations in emerging markets to tap into the growing demand for natural and organic products.

Oryzanol Market Intelligence

Oryzanol is a natural compound found in rice bran oil, which is extracted from the outer layer of rice grains. It is a mixture of ferulic acid esters of sterols and triterpenes and has antioxidant, anti-inflammatory, and cholesterol-lowering properties. Oryzanol is used in a range of applications, including food, cosmetics, and pharmaceuticals.

The oryzanol market is driven by increasing demand for natural and organic products, rising awareness of the health benefits of oryzanol, and growing use in the food, cosmetics, and pharmaceutical industries. The Asia Pacific region dominates the market, accounting for the majority of the global market share, due to the high consumption of rice bran oil in Asian cuisine and increasing demand for natural and organic products. North America and Europe are also significant markets for oryzanol, driven by rising awareness of the health benefits of oryzanol and growing use in the food and cosmetics industries.

The food and beverages segment is the largest application segment for oryzanol, followed by cosmetics and pharmaceuticals. In the food industry, oryzanol is used as a natural alternative to synthetic antioxidants, while in the cosmetics industry, it is used for its moisturizing and anti-aging properties. In the pharmaceutical industry, oryzanol is used for its cholesterol-lowering properties.

The oryzanol market is highly competitive, with a large number of players operating in the market. Key players in the market include Tsuno Rice Fine Chemicals, Oryza Oil & Fat Chemical, Okayasu Shorten, Jining Ankang Pharmaceutical, Delekang Food, Henry Lamotte Oils, and Shanghai Freemen. The key strategies adopted by the players in the market include new product launches, expansion of production capacity, and partnerships and collaborations to expand their market presence.

Overall, the oryzanol market is expected to witness significant growth in the coming years, driven by increasing demand for natural and organic products, rising awareness of the health benefits of oryzanol, and growing use in the food, cosmetics, and pharmaceutical industries.

Oryzanol Market Industry Trends

Here are some of the key trends in the oryzanol market:

1. Rising demand for natural and organic products: Consumers are increasingly seeking out natural and organic products, including those that contain oryzanol. This trend is being driven by growing awareness of the health benefits of natural products and concerns about the safety and environmental impact of synthetic ingredients.
2. Increasing use in the food industry: Oryzanol is gaining popularity as a natural alternative to synthetic antioxidants in the food industry. It is used to extend the shelf life of foods and to prevent the oxidation of fats and oils.
3. Growing use in cosmetics and personal care products: Oryzanol is also used in cosmetics and personal care products due to its moisturizing and anti-aging properties. It is used in a range of products, including creams, lotions, and sunscreens.
4. Expanding applications in the pharmaceutical industry: Oryzanol is being studied for its potential cholesterol-lowering properties and its use in the treatment of other health conditions, such as diabetes and menopausal symptoms.
5. Increasing adoption in emerging markets: As incomes rise and consumers become more health-conscious, the demand for oryzanol is growing in emerging markets such as China, India, and Brazil.
6. Advances in production technology: Advances in production technology are making it easier and more cost-effective to extract oryzanol from rice bran oil, which is expected to boost production and lower prices in the coming years.

Overall, the oryzanol market is expected to continue to grow in the coming years, driven by these and other trends. However, the market is also likely to face challenges, such as increasing competition from synthetic ingredients and concerns about the sustainability of rice bran oil production.

Oryzanol Market Analysis

Here is an analysis of the oryzanol market:

Market Drivers:

• Increasing demand for natural and organic products
• Rising awareness of the health benefits of oryzanol
• Growing use in the food, cosmetics, and pharmaceutical industries
• Advances in production technology

Market Restraints:

• High cost of production compared to synthetic ingredients
• Concerns about the sustainability of rice bran oil production
• Limited availability of rice bran oil in some regions

Market Opportunities:

• Emerging markets such as China, India, and Brazil
• Potential cholesterol-lowering properties of oryzanol
• Growing demand for natural and organic cosmetics and personal care products

Market Challenges:

• Increasing competition from synthetic antioxidants and other synthetic ingredients
• Lack of awareness of oryzanol among consumers and manufacturers in some regions

Geographically, the Asia Pacific region dominates the oryzanol market, accounting for the majority of the global market share. This is due to the high consumption of rice bran oil in Asian cuisine and the increasing demand for natural and organic products in the region. North America and Europe are also significant markets for oryzanol, driven by rising awareness of the health benefits of oryzanol and growing use in the food and cosmetics industries.

In terms of application, the food and beverages segment is the largest segment for oryzanol, followed by cosmetics and pharmaceuticals. Oryzanol is used in the food industry as a natural alternative to synthetic antioxidants, in the cosmetics industry for its moisturizing and anti-aging properties, and in the pharmaceutical industry for its potential cholesterol-lowering properties.

The oryzanol market is highly competitive, with a large number of players operating in the market. Key players in the market include Tsuno Rice Fine Chemicals, Oryza Oil & Fat Chemical, Okayasu Shorten, Jining Ankang Pharmaceutical, Delekang Food, Henry Lamotte Oils, and Shanghai Freemen. The key strategies adopted by the players in the market include new product launches, expansion of production capacity, and partnerships and collaborations to expand their market presence.

Overall, the oryzanol market is expected to continue to grow in the coming years, driven by increasing demand for natural and organic products, rising awareness of the health benefits of oryzanol, and growing use in the food, cosmetics, and pharmaceutical industries. However, the market also faces challenges, such as increasing competition from synthetic ingredients and concerns about the sustainability of rice bran oil production.

Oryzanol Market Segmentation

The oryzanol market can be segmented based on various factors, including source, application, and region.

1. By source:

• Rice Bran Oil
• Wheat Bran
• Corn

2. By application:

• Food and Beverages
• Cosmetics and Personal Care
• Pharmaceuticals

3. By region:

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

In terms of source, rice bran oil is the most widely used source of oryzanol due to its high content of the compound. Wheat bran and corn are also sources of oryzanol, but they are less commonly used.

In terms of application, the food and beverages segment is the largest segment for oryzanol. Oryzanol is used as a natural antioxidant in food products to increase their shelf life and to prevent oxidation. It is also used as a nutritional supplement in the form of capsules or tablets. The cosmetics and personal care segment is the second-largest segment for oryzanol. Oryzanol is used in cosmetics and personal care products due to its anti-aging and moisturizing properties. The pharmaceuticals segment is the smallest segment for oryzanol, but it is growing due to the potential cholesterol-lowering properties of the compound.

Geographically, Asia Pacific is the largest market for oryzanol, driven by the high consumption of rice bran oil in Asian cuisine and the increasing demand for natural and organic products in the region. North America and Europe are also significant markets for oryzanol, driven by rising awareness of the health benefits of oryzanol and growing use in the food and cosmetics industries.

Overall, the segmentation of the oryzanol market helps to understand the different sources and applications of oryzanol, as well as the regional trends and opportunities in the market.

Oryzanol Market Forecast

The global oryzanol market is expected to continue to grow in the coming years. According to market research reports, the market is expected to grow at a compound annual growth rate (CAGR) of around 14% from 2021 to 2026.

One of the key factors driving the growth of the oryzanol market is the increasing demand for natural and organic products. Consumers are becoming more aware of the health benefits of natural ingredients and are increasingly seeking out natural and organic products, including those containing oryzanol. Additionally, the use of oryzanol as a natural alternative to synthetic antioxidants is driving its adoption in the food and beverage industry.

The food and beverage segment is expected to remain the largest segment for oryzanol during the forecast period. The use of oryzanol as a natural antioxidant in food products to increase their shelf life and to prevent oxidation is expected to continue to drive demand in this segment.

The Asia Pacific region is expected to remain the largest market for oryzanol during the forecast period, driven by the high consumption of rice bran oil in Asian cuisine and the increasing demand for natural and organic products in the region. North America and Europe are also expected to remain significant markets for oryzanol, driven by rising awareness of the health benefits of oryzanol and growing use in the food and cosmetics industries.

In conclusion, the oryzanol market is expected to continue to grow in the coming years, driven by increasing demand for natural and organic products, rising awareness of the health benefits of oryzanol, and growing use in the food, cosmetics, and pharmaceutical industries.

Oryzanol Market Growth

The global oryzanol market has been experiencing significant growth in recent years and is expected to continue to grow in the coming years. The market is being driven by various factors, including:

1. Increasing consumer demand for natural and organic products: Consumers are increasingly seeking out natural and organic products due to the perceived health benefits and concerns about synthetic ingredients. This is driving demand for oryzanol, which is a natural compound.
2. Growing use of oryzanol as a natural alternative to synthetic antioxidants: Oryzanol has antioxidant properties that make it a useful natural alternative to synthetic antioxidants. This is driving its adoption in the food and beverage industry.
3. Rising awareness of the health benefits of oryzanol: Oryzanol has been shown to have various health benefits, including reducing cholesterol levels and improving cognitive function. This is driving its use in the pharmaceutical industry.
4. Increasing use of oryzanol in cosmetics and personal care products: Oryzanol has been shown to have anti-aging and moisturizing properties, which makes it a useful ingredient in cosmetics and personal care products.
5. Growing demand for rice bran oil: Rice bran oil is the primary source of oryzanol, and its increasing demand is driving growth in the oryzanol market.

Overall, the oryzanol market is expected to continue to grow due to these factors. Market research reports forecast a compound annual growth rate (CAGR) of around 14% from 2021 to 2026. The food and beverage segment is expected to remain the largest segment for oryzanol, followed by cosmetics and personal care and pharmaceuticals. The Asia Pacific region is expected to remain the largest market for oryzanol, followed by North America and Europe.

Oryzanol Market Competitor Analysis

The global oryzanol market is competitive, with several companies operating in the market. Some of the key players in the market include:

1. Oryza Oil & Fat Chemical Co. Ltd.: Oryza Oil & Fat Chemical Co. Ltd. is a Japanese company that specializes in the production of rice bran oil and its derivatives, including oryzanol. The company is one of the leading players in the oryzanol market.
2. Henry Lamotte Oils GmbH: Henry Lamotte Oils GmbH is a German company that produces a range of vegetable oils and oil-based products, including oryzanol. The company has a strong presence in the European market and is a major supplier of oryzanol to the food and cosmetics industries.
3. TSUNO FOOD INDUSTRIAL CO., LTD.: TSUNO FOOD INDUSTRIAL CO., LTD. is a Japanese company that produces a range of food ingredients, including oryzanol. The company has a strong presence in the Asia Pacific region and is a major supplier of oryzanol to the food industry.
4. Jining Fortune Biotech Co., Ltd.: Jining Fortune Biotech Co., Ltd. is a Chinese company that produces a range of natural plant extracts, including oryzanol. The company has a strong presence in the Chinese market and is a major supplier of oryzanol to the food, cosmetics, and pharmaceutical industries.
5. Okayasu Shorten Co. Ltd.: Okayasu Shorten Co. Ltd. is a Japanese company that produces a range of vegetable oils and oil-based products, including oryzanol. The company has a strong presence in the Japanese market and is a major supplier of oryzanol to the food and cosmetics industries.

Other notable players in the oryzanol market include Delekang Food Chemical Co. Ltd., Kangcare Bioindustry Co. Ltd., and Kingherbs Limited. These companies are focusing on expanding their product portfolios, increasing their production capacities, and expanding their distribution networks to gain a competitive edge in the market. Additionally, companies are investing in research and development to improve the quality and functionality of their oryzanol products to meet the evolving needs of consumers and industries.

Oryzanol Market Strengths

The global oryzanol market has several strengths that are contributing to its growth and success, including:

1. Natural and organic product: Oryzanol is a natural compound derived from rice bran oil, making it a natural and organic ingredient. Consumers are increasingly seeking out natural and organic products due to the perceived health benefits and concerns about synthetic ingredients. This is driving demand for oryzanol.
2. Antioxidant properties: Oryzanol has antioxidant properties that make it a useful natural alternative to synthetic antioxidants. This is driving its adoption in the food and beverage industry, where it is used as a natural preservative and flavor enhancer.
3. Health benefits: Oryzanol has been shown to have various health benefits, including reducing cholesterol levels and improving cognitive function. This is driving its use in the pharmaceutical industry, where it is used in the development of cholesterol-lowering drugs and other health supplements.
4. Versatility: Oryzanol has a range of applications across various industries, including food and beverage, cosmetics and personal care, and pharmaceuticals. This versatility is contributing to its widespread adoption and growth in the market.
5. Growing demand for rice bran oil: Rice bran oil is the primary source of oryzanol, and its increasing demand is driving growth in the oryzanol market. Rice bran oil is used in cooking, cosmetics, and pharmaceuticals, among other applications, contributing to the growth of the oryzanol market.

Overall, the natural and organic properties, antioxidant properties, health benefits, versatility, and growing demand for rice bran oil are some of the key strengths of the oryzanol market.

Oryzanol Market Opportunities

The global oryzanol market has several opportunities that companies can leverage to grow and expand their business, including:

1. Increasing demand for natural ingredients: The increasing demand for natural and organic ingredients in the food, beverage, and cosmetics industries is driving demand for oryzanol. Companies can leverage this opportunity by developing new and innovative products that meet the evolving needs of consumers.
2. Growing demand for functional foods and supplements: The demand for functional foods and supplements is increasing as consumers become more health-conscious. Oryzanol has been shown to have various health benefits, including reducing cholesterol levels and improving cognitive function, making it an attractive ingredient for functional foods and supplements.
3. Rising demand for cosmetics and personal care products: The cosmetics and personal care industry is growing, driven by the increasing demand for natural and organic products. Oryzanol has antioxidant properties and is a natural alternative to synthetic preservatives, making it a useful ingredient in cosmetics and personal care products.
4. Increasing awareness about the health benefits of oryzanol: The increasing awareness about the health benefits of oryzanol is driving demand for the ingredient in the pharmaceutical industry. Companies can leverage this opportunity by developing new and innovative products that address the growing demand for cholesterol-lowering drugs and other health supplements.
5. Expansion into emerging markets: The oryzanol market has significant growth opportunities in emerging markets such as Asia-Pacific and Latin America. Companies can leverage this opportunity by expanding their distribution networks and investing in marketing and advertising campaigns to increase awareness and demand for their products.

Overall, the increasing demand for natural ingredients, functional foods and supplements, cosmetics and personal care products, rising awareness about the health benefits of oryzanol, and expansion into emerging markets are some of the key opportunities in the oryzanol market. Companies that can effectively leverage these opportunities are likely to grow and succeed in the market.

Oryzanol Market Weakness

The global oryzanol market also has a few weaknesses that companies need to be aware of in order to succeed in the market. Some of these weaknesses include:

1. Limited availability: Oryzanol is primarily derived from rice bran oil, which has limited availability in some regions. This can affect the supply chain and increase the cost of production, making it difficult for companies to maintain competitive prices.
2. Lack of awareness: Despite the various health benefits and applications of oryzanol, there is still a lack of awareness among consumers and businesses about the ingredient. This can limit the demand for oryzanol and hinder market growth.
3. Competition from synthetic ingredients: Oryzanol faces competition from synthetic antioxidants and preservatives in the food and beverage industry. Companies may opt for synthetic ingredients due to their lower cost and longer shelf life, which can limit the demand for oryzanol.
4. Limited applications: While oryzanol has a range of applications, it may not be suitable for all products. This can limit the potential market for oryzanol and restrict its growth.
5. Inconsistent quality: The quality of oryzanol can vary depending on the source and production methods. This can affect the efficacy of products that contain oryzanol, leading to inconsistent results and reduced consumer trust.

Overall, the limited availability of rice bran oil, lack of awareness, competition from synthetic ingredients, limited applications, and inconsistent quality are some of the key weaknesses of the oryzanol market. Companies need to be aware of these weaknesses and take steps to address them in order to succeed in the market.

Oryzanol Market Threats

The global oryzanol market faces several threats that companies need to consider to mitigate risks and maintain their position in the market. Some of these threats include:

1. Fluctuations in raw material prices: Oryzanol is primarily derived from rice bran oil, which is subject to price fluctuations due to factors such as weather conditions, supply chain disruptions, and government policies. This can affect the cost of production and impact profit margins.
2. Stringent regulations: The food, beverage, and pharmaceutical industries are subject to stringent regulations governing the use of ingredients, including oryzanol. Changes in regulations, such as those related to food safety and labeling requirements, can impact market demand and create compliance challenges for companies.
3. Competition from alternative ingredients: Oryzanol faces competition from alternative ingredients such as plant extracts, synthetic antioxidants, and preservatives. Companies may opt for these alternatives due to lower costs, easier availability, or better performance, which can limit the demand for oryzanol.
4. Economic downturns: The oryzanol market is subject to economic downturns that can impact consumer spending and demand for products. Economic recessions, inflation, and currency fluctuations can also affect the cost of production and make it difficult for companies to maintain competitive prices.
5. Health concerns: Despite the health benefits associated with oryzanol, there are concerns about its safety and potential side effects. This can lead to negative publicity and impact consumer confidence in the ingredient.

Overall, fluctuations in raw material prices, stringent regulations, competition from alternative ingredients, economic downturns, and health concerns are some of the key threats facing the oryzanol market. Companies need to consider these threats and take steps to mitigate risks and maintain their position in the market.