USD 6.2 billion
Report ID: SQSG30I2012 | Region: Global | Published Date: December, 2022 | Pages: 165 | Tables: 63 | Figures: 75
Global Rice Bran Oil Market size was valued at USD 6.2 billion in 2021 and is poised to grow from USD 6.8 billion in 2022 to USD 12.4 billion by 2030, growing at a CAGR of 9.06% in the forecast period (2023-2030).
The exterior brown coating of rice is used to obtain rice bran oil, an edible vegetable oil. It has a moderate flavour and neutral flavour and is high in antioxidants, natural bioactive phytoceuticals such oryzanol, tocopherols, tocotrienols, and lecithin, as well as vitamin E. It gives delicate flavours, is excellent for high-temperature cooking, and blends easily with other less stable oils. It is incredibly flexible and light in texture. As a result, it is frequently used in a variety of culinary techniques, such as stir-frying, deep-frying, sautéing, and grilling. Additionally, it is linked to a lower risk of developing cancer, lower cholesterol, improved immunity, and a healthier nervous system.
Sales of the product soared as customer awareness of the health advantages of product intake increased. Consumers' changing dietary choices and the increased need for nutrient-dense food ingredients both significantly contribute to the rice bran oil market's expansion. Consumer demand for vegetable oil is fast increasing as people become more aware of its health benefits, particularly in Europe and North America. For users who prefer cooking with vegetable oil, this oil offers a more affordable and appropriate substitute. Additionally, this oil demonstrates certain physical qualities that make it appropriate for use in creams and oils for cosmetic purposes. As a result, businesses introduce new products to broaden their product offering and increase their marketability.
US Rice Bran Oil Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 6.2 billion
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The Global Rice Bran Oil Market segmentation is based on type, applications and regions. Based on the type, the Rice Bran Oil Market is segmented into refined and unrefined. On the basis of application, the rice bran oil market is segmented into cosmetics, pharmaceuticals, food processing and other segments. Based on Region the global Rice Bran Oil market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa.
Rice Bran Oil Market Analysis by Type
Refined oil segment holds the most lucrative segment of the rice bran oil market. Many health advantages, including maintaining healthy cholesterol levels and enhancing heart health, have been linked to the use of refined rice bran-based cooking oils. Additionally, according to the American Heart Association, it helps lower blood cholesterol levels. Restaurants in the US utilise more of this oil to create new cuisine items. Additionally, it has a lot of vitamin E, gamma-oryzanol, and other nutrients that help lower cholesterol levels and stave off heart disease. Additionally, businesses are introducing new food items that have been fortified with extra vitamins and nutrients.
Rice Bran Oil Market Analysis by Applications
The food processing segment is dominating the rice bran oil market and is expected to lead the market over the prediction period. Due to growing health consciousness among customers, North America is one of the top regions using this oil. To make sure they are consuming food products that are healthy, consumers are adopting a number of dietary practices. Additionally, some Japanese-focused eateries are converting to this oil. Additionally, it is employed in salad dressing and baked goods including brownies, cakes, and other bakery goods. The demand for vegetable oil is gradually rising due to the rise in vegetarianism in the area. Adopting such oil contributes to maintaining good cholesterol levels, according to guidelines made by the American Heart Association and World Health Organization (WHO).
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Due to the region's easy access to raw materials, especially in India, Asia-Pacific has a relatively large volume share of the worldwide rice bran oil market and is predicted to expand rapidly. India, China, Japan, and Thailand are the region's top manufacturers. The largest consumer of rice bran oil market in the world is India. One of the main factors influencing Australian customers' desire for rice bran oil is that it helps to minimise cholesterol absorption and avoids heart attacks, which are two claimed health benefits of cooking with edible oil. Additionally, it has several therapeutic benefits and is thought to be a rich source of vitamin A, -oryzanol, and phytosterols.
Due to growing health consciousness among customers, North America is one of the top regions using this oil. To make sure they are consuming food products that are healthy, consumers are adopting a number of dietary practises. Additionally, some Japanese-focused eateries are converting to this oil. Additionally, it is employed in salad dressing and baked goods including brownies, cakes, and other bakery goods. The demand for vegetable oil is gradually rising due to the rise in vegetarianism in the area. Adopting such oil contributes to maintaining good cholesterol levels, according to guidelines made by the American Heart Association and World Health Organization (WHO).
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Rice Bran Oil Market Driver
The adoption of the product is anticipated to be accelerated by the rising demand for skincare, cosmetic, and beauty items such gels, creams, and other skincare products. The availability of vitamins B and E for skin hydration is anticipated to drive rice bran oil market growth. Sales are also anticipated to increase as a result of the product's widespread acceptance by several eateries throughout Asia and the Pacific. Because rice bran oil has a high nutritional value, for instance, KFC Food chains in India switched from using palm oil to rice bran oil. These elements could fuel market growth for rice bran oil.
Rice Bran Oil Market Restraint
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The market for rice bran oil has a highly fragmented competitive environment, with numerous regional and local competitors vying with one another to gain market share. Adani Wilmar and Cargill, Inc. are two of the top producers in the international market. To expand their market position, top corporations are forming a joint venture.
Rice Bran Oil Market Top Players Company Profiles
Rice Bran Oil Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the refined oil segment holds the most lucrative segment of the market. Many health advantages, including maintaining healthy cholesterol levels and enhancing heart health, have been linked to the use of refined rice bran-based cooking oils. The food processing segment is dominating the rice bran oil market and is expected to lead the market over the prediction period. Due to the region's easy access to raw materials, especially in India, Asia-Pacific has a relatively large volume share of the worldwide rice bran oil market and is predicted to expand rapidly.
|Market size value in 2021||USD 6.2 billion|
|Market size value in 2030||USD 6.8 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
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For the Global Rice Bran Oil Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Rice Bran Oil Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Rice Bran Oil Market:
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