Rice Bran Oil Market The growth is attributed to Increased Demand for Pharmaceutical Sector

According to Precision Business Insights (PBI) latest report, The Rice Bran Oil Market is expected to be worth USD 5,273.6 million in 2022, growing at a 5.1% CAGR from 2022 to 2028. Rapid urbanization, rising disposable incomes, changing lifestyles, aggressive manufacturer marketing, and increased penetration in both developed and emerging economies are all contributing to the market's rise. The industry is driven by rising health consciousness and demand for fat-free and nutritious food products. Rice bran oil is high in antioxidants and low in cholesterol, which will drive up demand for it in meals and beverages. Increased market demand has resulted from increased rice output around the world. It is an edible oil utilized in the food, cosmetics, and pharmaceutical industries as an excipient. Most people prefer rice bran oil because of its antioxidant and cholesterol-lowering properties. All these factors drive the rice bran oil market.

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Pharmaceutical Sector Segment Dominates the Rice Bran Oil Market:
The pharmaceutical sector segment is expected to account for a larger revenue share in the global Rice Bran Oil Market with a value share in the global market. It is projected to grow at 5.4% CAGR over 2022 and 2028. Rice bran oil is used to treat high blood pressure, diabetes, obesity, high cholesterol, alcoholism, and AIDS, as well as to prevent stomach cancer, blood and heart disorders, and to boost energy and immunity. These medical benefits engage customers and keep them loyal to the pharmaceutical industry. It's also utilized to help athletes perform better. These numerous applications increase market performance and push the worldwide rice bran oil market to grow.

The Asia Pacific Leads Rice Bran Oil Market:
The Asia Pacific is expected to hold the 24.3% market share in the global rice bran oil market in the forecast period, and it is projected to grow at a CAGR of 5.7% in the coming years. According to the United States Department of Agriculture, China, India, and Indonesia have been the primary producers of milled rice in recent years. As a result, these countries have a strong position in producing rice bran oil. With an increasing number of people recognizing the necessity of including a heart-friendly oil in their diet, India has become one of the world's top rice bran oil manufacturers. Governments worldwide are taking various measures to fulfill the supply and demand of edible oils. In reality, different farmers and investors have removed the quantitative limitations on organic edible oils, resulting in the market's continued growth because raw materials are readily available throughout the area, particularly in India.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global rice bran oil market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In 2021, NK Proteins introduced new rice bran oil under the brand name, Trupti. The brand was launched in India, and Asia. In 2021, TSUNO, a Japanese company, launched premium rice bran oil, Expeller Pressed Rice Bran Oil, prepared by the natural process of manufacturing.

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The rice bran oil market is segmented based on end user, distribution channel, and geography.
Based on the end user, the market is segmented into the following:
• Food & Beverage
• Healthcare & Nutrition
• Cosmetics
• Pharmaceuticals
• Animal feed
• Others

Based on the distribution channel, the market is segmented into the following:
• Supermarkets &Hypermarkets
• Departmental Stores
• Convenience Shops
• Online
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key player's profiles in the rice bran oil market report are Adani Wilmar, Modi Naturals, Marico, Conagra Foods., BCL Industries Limited, King Rice Oil Group, California Rice Oil

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