Rice Bran Oil Market – Demand Analysis & Trend Insights (2024–2032)

Description

Rice Bran Oil Market Synopsis:

Rice Bran Oil Market Size Was Valued at USD 7.8 Billion in 2023, and is Projected to Reach USD 17.1 Billion by 2032, Growing at a CAGR of 9.1% From 2024-2032.

Rice bran oil is a type of approved edible oil used around the world that originates from the outer skin of rice known as bran. It contains essential fatty acids, antioxidants and vitamins; Vitamin E in particular as well as being ideal for cooking as for industrial applications. Stable in high temperatures also and having no remarkable flavor, rice bran oil is popular in frying, cooking and used in food industries. Furthermore, being rich in vitamins E, antioxidants and having cholestrol busting values, the demand in food and non food products remains high.

There have been tremendous growth in the global rice bran oil market because of the increased awareness for healthy diet and the need for healthy foods. The global population is moving towards a healthier lifestyle, and with its nutritional profile rice bran oil has stepped up to meet the challenge. The market is therefore propelled by its increased acceptance especially in the food and drinks manufacturing since it has numerous benefits such as boosting the products’ nutrition value. Production of rice bran oil is mostly from countries which grow rice as a primary crop such as India, China and Japan. Furthermore, consumers in North America and Europe are being aware of the health benefits of consuming rice bran oil.

Last couple of years rice bran oil has emerged as a super food grade oil mainly because of beneficial constituents. It is a source of polyunsaturated, monounsaturated and saturated fats and therefore it is a product preferred by people who are weights watchers. With the increasing concern on people’s health and lifestyle changing across the world, the functional oil such as rice bran oil market will continue to grow. From being used on processed food items, to skin products and even in the production of biodiesel, rice bran oil is gradually finding its way into several sectors.

Rice Bran Oil Market Trend Analysis:

Rising Demand for Organic and Non-GMO Rice Bran Oil

One trend that has been identified with the rice bran oil is the shift towards organic and Non-GMO products. The consumer is getting a conscious about the ill side effects of chemical supplements and genetically modified organisms (GMOs). Consequently, there is a high demand for organically produced rice bran oil. Organic rice bran oil is made from rice bran that has not been raised on chemical inputs such as fertilizers and sprays, or genetically engineered therefore favourably received in the market by those who wish to plant-based diets. Additionally, the trend caters with the growing and emerging age of sustainable agriculture and clean label products especially within the developed countries of North America and Europe where consumers are more than willing to pay a higher price for such products.

Expanding Applications in the Cosmetics Industry

Perhaps the most significant potential in the rice bran oil market is its increasing application in the cosmetic and personal care products. Rice bran oil is obtained from rice and has antioxidant property, vitamins and essential fatty acids, which makes it, good for skin as it has anti ageing and moisturizing properties. These properties have made it common in production of skin care and hair care products. as the consumer base for organic and plant derived cosmetics is expanding, rice bran oil is being increasingly used in the development of creams, lotions and serums. Further, the rising trend of no animal testing and veganism which has gained lot of traction among consumer is a massive opportunity for the rice bran oil market to grow. Another segment that is anticipated to have a significant impact on the over all growth is the beauty products segment This is because brands are increasingly developing new products such as rice bran oil for use in beauty products.

Rice Bran Oil Market Segment Analysis:

Rice Bran Oil Market Segmented on the basis of Type, End User, and Region.

By Type, Organic segment is expected to dominate the market during the forecast period

Organic segment of product, especially rice bran oil, is expected to continue dominating the market till the end of the forecast period. It has become evident that over the last few years consumers are increasing their consumption of organic foods and oil products owing to enhanced consciousness of health as well as our environmental context. Organic rice bran oil derived from rice that has been grown organically without the use of chemicals fertilizers of pesticides is rated to be healthier and safer. This segment has favored the clean-label and rising government encouragement for organic agriculture. Consumers are now ready to buy the organic rice bran oil at a higher price than the one which is treated with chemical substances. The organic segment needs special emphasis on areas such as North America and Europe as the consumers here are more health conscious and are now more of a pollute conscious.

By End User, Food and Beverages segment expected to held the largest share

Among all the applications analysed, the largest share of the market is expected to be occupied by the food and beverages segment. This is mainly attributed to an increased utilization of rice bran oil for frying and as a culinary oil together with its emergent use in the food processing sector. The smoking temperature of the oil is suitable for frying and boiling and due to its flavorsome nature, it can be used in preparations of several styles of food preparations.

Also on the health aspect, rice bran oil has been acclaimed for cholesterol reducing properties and an ideal oil for the heart among others. Due to increasing incidences of people focusing on their health and wellbeing across the world, rice bran oil is used widely in the F & B industries. In addition, growth in consumption of processed and ready to eat food products and ingredients in the developing world, rice bran oil consumption is also expected to rise in this segment.

Rice Bran Oil Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast period

The Asia-Pacific region has the largest market share for the rice bran oil market in 2023. The region is dominated because most of the rice is produced in it and rice bran oil popular in India, China, Japan and Thailand. India for instance, is one of the leading producing and consuming countries of rice bran oil since the oil is widely used in India because of cheap and health-wise worthwhile. Higher population base, improvement in disposable income and higher health consciousness among consumers have created further demand for rice bran oil in the region. The Asia-Pacific dominated international market share by more than 60% in 2023 due to giant rice producer and its extensive utilization of rice bran oil in food and non-food sectors.

Active Key Players in the Rice Bran Oil Market:

3F Industries Ltd. (India)

A.P. Refinery Private Limited (India)

Arawana Brand (China)

BCL Industries Limited (India)

Cargill, Incorporated (USA)

Fuji Oil Asia Pte. Ltd. (Singapore)

King Rice Oil Group (Thailand)

Marico Limited (India)

Oryza Oil & Fat Chemical Co., Ltd. (Japan)

Ricela Health Foods Ltd. (India)

Sethia Oils Ltd. (India)

Surin Bran Oil Co., Ltd. (Thailand)

Tsuno Rice Fine Chemicals Co., Ltd. (Japan)

Vaighai Agro Products Ltd. (India)

Wilmar International Limited (Singapore)

Other Active Players