Rice Bran Oil Market to Grow Steadily, Hitting USD 12.1 Bn by 2031 | Persistence Market Research Analysis

Introduction

Rice bran oil, derived from the outer bran layer of rice grains, has gained significant popularity in recent years due to its health benefits, versatile applications, and rising consumer awareness. Known for its balanced fatty acid composition and the presence of oryzanol, a powerful antioxidant, rice bran oil is increasingly favored by consumers globally.

𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐏𝐃𝐅- https://www.persistencemarketresearch.com/samples/35053
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Market Valuation and Growth Projections

The global rice bran oil market is witnessing robust growth, driven by increasing health-consciousness and a shift towards healthier cooking oil options. The market is estimated to reach a valuation of US$ 6.8 billion by 2024. Over the forecast period, the market is anticipated to expand at a CAGR of 7.3%, reaching an impressive value of US$ 12.1 billion by 2031.

Key Growth Determinants

Health Benefits: The growing recognition of rice bran oil as a heart-healthy oil is a major driver. Its cholesterol-lowering properties, coupled with the presence of antioxidants, make it a preferred choice among health-conscious consumers.
Growing Demand from Food Industry: The oil's stability and neutral flavor have made it a popular ingredient in the food processing industry for frying, baking, and snack preparation.
Rising Awareness of Functional Foods: As consumers seek functional foods with added health benefits, rice bran oil is emerging as a key ingredient in nutraceutical products.

Major Growth Barriers

High Cost of Production: Extracting rice bran oil is a complex process, leading to relatively higher production costs compared to other vegetable oils.
Limited Awareness in Emerging Markets: While developed markets are experiencing higher adoption, awareness remains limited in certain developing regions.

Key Trends and Opportunities

Shift Towards Organic Products: The growing demand for organic rice bran oil represents a lucrative opportunity for manufacturers to cater to premium consumer segments.
Expanding Applications Beyond Edible Oil: The use of rice bran oil in cosmetics, pharmaceuticals, and biodiesel production is expanding, driving market diversification.
Rising Investments in Marketing: Companies are focusing on educating consumers about the benefits of rice bran oil through strategic marketing campaigns, particularly in untapped regions.

Regional Frontrunners

Asia-Pacific: Dominates the market due to high rice production and traditional consumption of rice bran oil in countries like India, China, and Japan.
North America: Exhibiting significant growth, driven by increased health-consciousness and rising awareness of the oil's benefits.
Europe: Witnessing steady growth with increasing demand for functional foods and natural cooking oils.

Key Market Players

Ricela Health Foods Ltd.
A.P. Refinery Pvt. Ltd.
King Rice Oil Group
Tsuno Rice Fine Chemicals Co., Ltd.
Wilmar International Ltd.
BCL Industries Limited
3F Industries Ltd.
Marico Limited

Market Segmentation

By Type

Refined Rice Bran Oil
Unrefined Rice Bran Oil

By End Use

Food and Beverages
Cosmetics and Personal Care
Pharmaceuticals
Industrial Applications

By Distribution Channel

B2B
B2C
Supermarkets/Hypermarkets
Specialty Stores
Convenience Stores
Online Retail
Others

Region

North America
Latin America
Europe
East Asia
South Asia
Oceania
The Middle East and Africa

Conclusion

The rice bran oil market is poised for substantial growth, fueled by its health benefits, expanding applications, and increasing consumer demand for functional food products. While challenges such as high production costs and limited awareness persist, market players can leverage opportunities in organic product offerings and non-edible applications to strengthen their market presence.

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