USD 6.2 billion
Rice Bran Oil Market Size, Share, Growth Analysis, By Type(Refined, Non-Refined), By Application(Cosmetics, Pharmaceuticals, Food Processing, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQSG30I2012 |
Region:
Global |
Published Date: April, 2024
Pages:
165
|Tables:
63
|Figures:
75
Rice Bran Oil Market Insights
Global Rice Bran Oil Market size was valued at USD 6.2 billion in 2022 and is poised to grow from USD 6.8 billion in 2023 to USD 12.4 billion by 2031, growing at a CAGR of 9.06% in the forecast period (2024-2031).
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.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Refined
Fastest Growth
Refined
Growth Rate
9.06% CAGR
Global Rice Bran Oil Market 2022-2028 ($ Bn)
Country Share for Asia-Pacific Region- 2021 (%)
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Rice Bran Oil Market Segmental Analysis
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).
Global Rice Bran Oil Market By Type, 2021 (%)
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Rice Bran Oil Market Regional Insights
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).
Global Rice Bran Oil Market By Geography, 2022-2028
- Largest
- Fastest
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Rice Bran Oil Market Dynamics
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
- Due to a lack of consumer understanding of these product’s advantages, there is a limited adoption of this oil among consumers. Sunflower oil and olive oil are other potential vegetable oil alternatives that limit rice bran oil market expansion and have low consumer uptake in other regions, such as Europe and North America. In order to improve customer adoption of these items, businesses must implement creative and aggressive marketing and promotional techniques.
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Rice Bran Oil Market Competitive Landscape
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
- Ricela
- BCL Industries & Infrastructure Limited
- Sethia Oils Limited
- Kamal
- Vaighai Agro Products Ltd
- 3F Industries Ltd
- Marico Limited
- Adani Wilmar Limited
- A.P. Refinery Pvt. Ltd.
- Jivo Wellness Pvt. Ltd.
- RITO Group Corporation
- King Rice Oil Group
- Surin Bran Oil Co., Ltd.
- SVROil
- Intercontinental Specialty Fats Sdn Bhd
- Agrotech International Ltd
- Maheshwari Solvent Extraction Pvt Ltd
- Shivangi Oils Pvt. Ltd.
- Agarwal Industries Pvt Ltd
- Bunge Limited
Rice Bran Oil Market Recent Development
- In June 2021, the rice bran oil brand "Tirupati" will be introduced to the market by the Indian company N.K. Proteins Pvt Ltd. for consumers who value their health.
- In Feb 2021, under the government of India's "Aatmnirbhar Bharat" effort, the National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) announced the introduction of fortified rice bran based oil.
Rice Bran Oil Key Market Trends
- The combination of business intelligence tools with cutting-edge technologies like artificial Significant eating pattern modifications have been made by consumers, including the adoption of novel diets like veganism. A vegan diet can help you lose weight, prevent type-2 diabetes, and boost your health in other ways, according to studies published in the American Journal of Clinical Nutrition. Customers seeking out eco-friendly cooking items are using this type of oil more frequently. Additionally, it serves as a less expensive alternative to other vegetable oils, such olive oil.
Rice Bran Oil Market SkyQuest Analysis
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.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 6.2 billion |
| Market size value in 2031 | USD 12.4 billion |
| Growth Rate | 9.06% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Rice Bran Oil Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Rice Bran Oil Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the 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 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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Rice Bran Oil Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Rice Bran Oil Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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