Rice Bran Oil Market Set to Reach US$ 12.1 Bn by 2031 - Persistence Market Research

The global rice bran oil market is rapidly emerging as a preferred choice among health-conscious consumers and sustainable industries. Estimated to reach a valuation of US$ 6.8 Bn in 2024, the market is projected to experience significant growth at a CAGR of 7.3% to hit US$ 12.1 Bn by 2031. This growth is driven by rising health awareness, increasing use in cosmetics, and expanding demand from the biodiesel sector. The food and beverages segment holds the lion's share of the market due to the oil's high smoke point and nutritional value.

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Asia Pacific remains the dominant region, accounting for 48.7% of the market in 2024, with India leading due to its strong rice production capacity and favorable government incentives. The unrefined rice bran oil segment, with a share of 25.8%, is gaining popularity due to consumer preference for clean-label, minimally processed products.

Key Highlights from the Report

➤ Asia Pacific dominates the market with 48.7% share in 2024, led by India's large rice production base.
➤ Unrefined rice bran oil accounted for 25.8% market share in 2024, favored by gourmet cooks and health-conscious consumers.
➤ Food and beverage segment leads with 71.1% market share due to high smoke point and antioxidant properties.
➤ B2C distribution channels held 31.8% share in 2024, driven by online retail and consumer transparency.
➤ Organic and cold-pressed varieties are gaining traction in premium health-focused markets.
➤ Governments in Asia are promoting domestic rice bran oil extraction for nutrition and biodiesel use.

Market Segmentation

The rice bran oil market is segmented based on type, end-use, and distribution channel. By type, the market is divided into refined and unrefined rice bran oil, with unrefined variants gaining popularity due to their antioxidant-rich composition. In terms of end-use, food and beverages dominate the market, followed by cosmetics and personal care, pharmaceuticals, and industrial applications. Distribution channels are split into B2B, B2C, supermarkets/hypermarkets, specialty stores, convenience stores, online retail, and others, with online and B2C growing fastest due to accessibility and transparency.

Regional Insights

Asia Pacific holds the largest share due to high rice production, consumer awareness of health benefits, and strong governmental support. India is a key contributor with over 1.2 million tons annual rice bran production, making it a major producer and consumer. Japan and South Korea are witnessing growth in cosmetic applications of rice bran oil. In North America and Europe, demand is growing steadily for organic and non-GMO oils. Latin America and the Middle East & Africa show potential, supported by urbanization and rising disposable incomes.

Market Drivers

The demand for healthier cooking oil alternatives is a major driver. Rice bran oil's high content of vitamin E, antioxidants, and heart-healthy compounds makes it appealing to consumers. The growing trend of food fortification, supported by policies like FSSAI mandates in India, is further pushing market growth. In addition, its increasing application in biodiesel aligns with global sustainability goals. Cold-pressed, organic, and flavored rice bran oil are gaining momentum in urban and premium markets.

Market Restraints

Despite its benefits, rice bran oil faces stiff competition from more established oils like sunflower and olive oil, which are often more affordable and widely recognized. The cost of production for rice bran oil is relatively higher due to complex extraction processes. Furthermore, lack of awareness and limited availability in some regions constrain market expansion.

Market Opportunities

Government incentives for biofuel production, sustainability initiatives, and support for fortified foods present major growth opportunities. Increasing investment in R&D to improve oil extraction processes and applications in cosmetics and industrial sectors is likely to expand usage. Rising consumer interest in eco-friendly packaging and sustainable sourcing further enhances opportunities for rice bran oil manufacturers to capitalize on emerging trends.

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Company Insights

• Adani Wilmar
• Ricela Health Foods Ltd.
• Cargill, Inc
• King Rice Oil Group
• 3F Industries Ltd
• Sethia Oils Ltd.
• Conagra Foods
• BCL Industries Limited
• Marico
• California Rice Oil Company
• Modi Naturals

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