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

The global rice bran oil market is experiencing a steady surge, owing to rising health consciousness, innovations in extraction technologies, and increased demand for sustainable products. With a projected market size reaching US$ 12.1 billion by 2031 from US$ 6.8 billion in 2024, the industry is anticipated to witness a CAGR of 7.3% during the forecast period.

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Growing demand for heart-healthy oils, biofuel applications, and its use in cosmetics and pharmaceuticals is driving market growth. Among all product types, unrefined rice bran oil is emerging as a consumer favorite, while Asia Pacific remains the dominant geographical region due to its rice-based diet, high production capacity, and favorable government policies.

Key Highlights from the Report

➤ The rice bran oil market is projected to grow at a CAGR of 7.3% from 2024 to 2031, reaching US$ 12.1 billion.
➤ Asia Pacific accounted for 48.7% of the global market in 2024, with India being the largest producer.
➤ Unrefined rice bran oil held 25.8% of the market share in 2024 due to consumer preference for minimally processed foods.
➤ Food and beverage segment dominated with a 71.1% share in 2024 owing to the oil's high smoke point and health benefits.
➤ B2C distribution channel accounted for 31.8% of sales in 2024, reflecting rising consumer access via e-commerce and specialty stores.
➤ Biofuel applications and cosmetic use are emerging non-food growth areas for rice bran oil.

Market Segmentation

The rice bran oil market is segmented based on type, end use, and distribution channel. By type, the market includes refined and unrefined rice bran oil. Unrefined oil is increasingly favored for its natural nutrient retention and alignment with clean-label trends. End-use segmentation includes food and beverages, cosmetics and personal care, pharmaceuticals, and industrial applications. The food and beverage segment holds the dominant share, thanks to the oil's neutral taste and high smoke point. By distribution, the market is segmented into B2B and B2C channels, with B2C gaining traction through online retail platforms and direct-to-consumer strategies.

Regional Insights

Asia Pacific leads the global rice bran oil market, capturing nearly half the total share in 2024. India remains the epicenter of this growth, leveraging its large rice cultivation base and proactive government policies that encourage domestic consumption and export of value-added products. Japan and South Korea are key adopters in the cosmetic application of rice bran oil due to their preference for natural ingredients. North America and Europe are gradually catching up, driven by rising demand for non-GMO and cold-pressed cooking oils. Meanwhile, Southeast Asia is expected to witness a significant upswing due to increased investment in processing infrastructure.

Market Drivers

The demand for rice bran oil is propelled by several health and sustainability factors. Consumers are increasingly shifting toward oils that offer cholesterol-lowering properties and antioxidants like oryzanol and tocopherols. The global trend toward clean-label, minimally processed, and organic food products boosts the demand for cold-pressed and unrefined rice bran oil. Moreover, growing popularity of functional foods and fortified oils supports its adoption in health-conscious segments. Non-food applications, such as in cosmetics for anti-aging and moisturizing products, and in biodiesel production, further augment market potential. Technological advances in extraction methods and product innovation also contribute to growth.

Market Restraints

Despite its benefits, rice bran oil faces significant challenges. Cost competitiveness remains a barrier; rice bran oil is often priced higher than conventional oils like soybean, sunflower, or palm oil due to limited raw material availability and costly extraction processes. Consumer awareness about rice bran oil remains relatively low in Western countries, limiting its adoption. Additionally, competition from well-established edible oils with strong marketing and brand equity continues to overshadow rice bran oil, particularly in price-sensitive markets.

Market Opportunities

Governments in rice-producing countries are implementing favorable policies to support rice bran oil production and export. For instance, India's extension of restrictions on the export of deoiled rice bran ensures greater domestic supply for oil extraction. Fortification mandates from food regulatory bodies are further expected to drive demand. The growing popularity of sustainable packaging and eco-conscious consumerism opens doors for brands investing in recyclable and biodegradable packaging. Technological innovations in energy-efficient extraction processes are also unlocking operational cost benefits. Moreover, rice bran oil is poised to benefit from the rising demand for plant-based biofuels and industrial lubricants.

Reasons to Buy the Report

✔ In-depth market analysis with accurate forecasts through 2031.
✔ Clear insights into emerging opportunities and industry trends.
✔ Detailed segmentation to guide investment and product development strategies.
✔ Competitive landscape profiling key players and recent innovations.
✔ Regional insights to help target high-growth markets effectively.

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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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