Global Rice Bran Oil Market

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 Dynamics

Rice Bran Oil Market Driver

  • Rise in adoption of oil for it health benefit is driving the growth of market

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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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 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. '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'

Rise in adoption of oil for it health benefit is driving the growth of market

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.

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.

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Global Rice Bran Oil Market

Report ID: SQSG30I2012

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