Rice Bran Oil Market Demand, Research, Future Trends By 2023-2031
Rice Bran Oil Market Overview:
The rice bran oil market is poised for steady growth, driven by rising health consciousness, increasing demand for natural and functional oils, and its versatility in various applications. This report delves into the intricacies of this market, covering its overview, key drivers and restraints, promising opportunities, prominent players, segmentation nuances, regional variations, and recent developments.
Rice bran oil, extracted from the outer layer of brown rice, is gaining traction as a healthy and flavorful cooking oil. Its mild taste, high smoke point, and nutrient profile rich in antioxidants, oryzanol, and vitamin E make it a preferred choice for health-conscious consumers. The global rice bran oil market size was valued at USD 7,116.27 Million in 2022 and is expected to reach USD 15,141.02 Million by 2031, growing at a CAGR of 9.0% during the forecast period.
Rice Bran Oil Market Drivers:
Rising Health Consciousness: Consumers are increasingly opting for healthy and natural ingredients, propelling the demand for rice bran oil. Its cholesterol-lowering properties, anti-inflammatory effects, and contribution to heart health further solidify its appeal.
Growing Demand for Functional Oils: The market is witnessing a surge in demand for functional oils with added health benefits. Rice bran oil's antioxidant and oryzanol content aligns perfectly with this trend, attracting health-conscious consumers.
Versatility in Applications: Rice bran oil's neutral taste and high smoke point make it suitable for various culinary applications, including frying, baking, and salad dressings. Its use in pharmaceuticals and cosmetics adds to its market potential.
Increasing Disposable Incomes: Rising disposable incomes, particularly in developing economies, fuel the demand for premium and healthy food products, including rice bran oil.
Rice Bran Oil Market Key Players:
Conagra Brands (USA)
Bunge Limited (USA)
Wilmar International Limited (Singapore)
Fuji Oil Holdings Co., Ltd. (Japan)
Cargill, Incorporated (USA)
KSK Oils Ltd. (India)
Riviana Foods Inc. (USA)
Rice Bran Oil Market Segmentation:
By Type: Crude rice bran oil and refined rice bran oil
By Application: Food, pharmaceuticals, cosmetics, and industrial
By Distribution Channel: Hypermarkets/supermarkets, convenience stores, online retailers, and traditional grocery stores
By Region: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa
Rice Bran Oil Market Regional Analysis:
Asia Pacific: Dominates the market due to high rice consumption and rising health consciousness. China, India, and Japan are key players in this region.
Europe: Shows steady growth due to increasing awareness about healthy fats and rising disposable incomes.
North America: Witnesses moderate growth due to established vegetable oil markets and competition from other healthy oils.
Latin America and the Middle East and Africa: Represent emerging markets with significant growth potential due to rising urbanization and growing awareness about healthy lifestyles.
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