Rice Bran Oil Market Overview
Because of its mild flavor and neutral taste, rice bran oil consumption has increased rapidly over the years. Its high antioxidant and vitamin E content, as well as natural bioactive phytochemicals such as tocopherols, oryzanol, lecithin, and tocotrienols. It is versatile edible vegetable oil with a light texture, and delicate flavors, and is ideal for high-temperature cooking. Rice bran oil blends well with less stable oils. As a result, it is widely used in a variety of cooking techniques such as deep-frying and stirring, grilling, and sautéing. Rice bran oil is also known for its ability to lower cancer risk, lower cholesterol levels, boost immunity, and calm the nervous system.
In 2022, the rice bran oil market size was estimated at USD 6.8 billion. The market for rice bran oil is anticipated to increase from USD 7.4 billion in 2023 to USD 12.4 billion in 2030, with a forecasted compound annual growth rate (CAGR) of 9.06%.
The rice bran oil market is expected to grow significantly between 2023 and 2030. People's consumption of rice bran oil has increased due to increased awareness of its numerous health benefits. This factor, combined with the rising demand for beverages and foods with high nutritional content and low fat, strengthens business growth even further. The American Heart Association and the World Health Organization (WHO) have approved the use of rice bran oil, claiming that its polyunsaturated, saturated, and monounsaturated fat composition is safer to consume than that of most vegetable oils. In the coming years, market growth may be hampered by a lack of knowledge about this type of oil and a lack of health consciousness in a few developing countries. The market is going to expand exponentially.
Market Segmentation:
By category: The global market has been divided into two categories: conventional and organic.
By packaging type: Rice Bran Oil Market is classified into bottles, pouches, and others based on packaging type.
By distribution channel: The global market has also been divided into store-based and non-store-based segments, with the store-based segment further subdivided into supermarkets hypermarkets, convenience stores, and others.
By region: The global rice bran oil industry has been researched with four key regions in mind: North America, Europe, Asia-Pacific, and the rest of the world.
Key Rice Bran Oil Market Players are –
3F Industries Ltd (India), Cargill Inc. (US), Ricela Health Foods Ltd. (India), BCL Industries Infrastructure Limited (India), Adani Wilmar Limited (India), Mexiterra LLC (US), Riceland Foods (US), Sethia Oils Limited (India), King Rice Oil Group (Thailand), Modi Naturals Ltd. (India).
Regional Classification:
During the forecast period, Asia-Pacific is expected to dominate the rice bran oil market, led by major rice-producing countries such as India, Japan, China, Thailand, and Vietnam, among others. Japan is regarded as the originator of rice bran oil, and the oil has gained widespread acceptance as cooking oil among Japanese consumers that is to be considered mostly. North America also has a significant share of the global rice bran oil industry and is expected to have the fastest CAGR over the next few years. With increased consumer demand for organic rice bran oil, the United States is seen as the major contributor to the growth of the rice bran oil industry in North America.
Industry News:
Modi Naturals Ltd. (India), King Rice Oil Group (Thailand), Sethia Oils Limited (India), Riceland Foods (US), Mexiterra, LLC (US), Adani Wilmar Limited (India), BCL Industries Infrastructure Limited (India), Ricela Health Foods Ltd. (India), Cargill Inc. (US), and 3F Industries Ltd. are key players in the rice bran oil market (India).
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