Rice Bran Oil Market Overview:
The Rice Bran Oil Market has witnessed significant growth in recent years, driven by increasing consumer awareness regarding the health benefits associated with this edible oil. Rice bran oil, extracted from the outer layer of rice grains, is renowned for its high smoke point and nutritional content, including antioxidants and vitamin E. As health-conscious consumers seek alternatives to traditional cooking oils, the demand for rice bran oil has surged. Additionally, the expanding food industry and the growing popularity of Asian cuisines, where rice bran oil is a staple, contribute to the market's upward trajectory. The market is characterized by a competitive landscape with key players focusing on product innovation and sustainable production practices to gain a competitive edge.
Rice Bran Oil Market was USD 7,116.27 Million in 2022.It is projected to reach USD 15,141.02 Million by 2031, indicating a CAGR of 9.0%during the forecast period.
Market Key Players:
Cargill Incorporated, Adani Wilmar Ltd., Marico Ltd., BCL Industries Limited, King Rice Oil Group, Ricela Group of Companies, Modi Naturals Ltd., Emami Agrotech Ltd., Zhejiang Delekang Food Co., Ltd., and 3F Industries Ltd
Market key drivers:
The surge in the rice bran oil market is propelled by various factors. Firstly, the increased awareness of the health advantages linked to rice bran oil, including its ability to lower cholesterol and its antioxidant properties, is steering consumers towards healthier cooking oil options. Secondly, the thriving food industry, particularly in Asia where rice bran oil is a fundamental element in numerous culinary traditions, is a driving force behind market expansion. Furthermore, the growth of the cosmetics and pharmaceutical sectors is opening up new opportunities for the utilization of rice bran oil. The market is also affected by the growing preference for clean-label products, as consumers increasingly seek natural and minimally processed ingredients for both their food and personal care choices.
Market Segmentation:
By Type
- Refined Oil
- Filtered Oil
By End-user Industry
- Pharmaceutical
- Food & Beverages
- Cosmetics
By Distribution Channel
- Offline Hypermarket and Supermarket
- Convenience Store
- Online E-commerce Platform
- Company Website
Regional Analysis:
The market growth was predominantly driven by the Asia Pacific region, which made the largest contribution to the overall share. The rise in disposable income in countries like India and China has resulted in an elevated demand for high-quality and health-focused food ingredients, with rice bran oil being a notable example in the Asia Pacific market
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