Rice Bran Oil Market Outlook and Opportunities By 2028
The global rice bran oil market size was USD 6.16 billion in 2020. The market is projected to grow from USD 6.67 billion in 2021 to USD 12.27 billion by 2028 at a CAGR of 9.09% during the 2021-2028 period.
Rice bran oil, derived from the outer layer of rice, has emerged as a versatile and nutritionally rich cooking oil. Over the years, it has gained popularity globally, driven by its numerous health benefits and culinary advantages. This article delves into the current state and future prospects of the rice bran oil market.
List of Key Companies Profiled:
- Adani Wilmar (Gujarat, India)
- Modi Naturals (New Delhi, India)
- Marico (Maharashtra, India)
- Conagra Foods (Chicago, U.S.)
- BCL Industries Limited (Punjab, India)
- King Rice Oil Group (Bangkok, Thailand)
- California Rice Oil Company (California, U.S.)
- Ricela Health Foods Ltd. (Punjab, India)
- 3F Industries Ltd (Mumbai, India)
- Sethia Oils Ltd. (West Bengal, India)
Source Link :
https://www.fortunebusinessinsights.com/rice-bran-oil-market-102474
-
Health and Nutritional Attributes:
Rice bran oil has gained recognition for its health-promoting properties. It is rich in antioxidants, vitamin E, and various other nutrients. Additionally, the oil contains a balanced composition of saturated, monounsaturated, and polyunsaturated fats, making it a heart-healthy choice. These nutritional attributes have contributed to the increasing consumer preference for rice bran oil over traditional cooking oils.
-
Market Dynamics:
a. Rising Health Consciousness:
With a growing emphasis on healthy living, consumers are actively seeking cooking oils that offer health benefits. Rice bran oil, with its cholesterol-lowering properties and potential to reduce the risk of cardiovascular diseases, has witnessed increased demand.
b. Expanding Food Industry:
The food industry has witnessed a surge in the use of rice bran oil due to its neutral taste and high smoke point. Food manufacturers are incorporating it into various products such as snacks, baked goods, and ready-to-eat meals, contributing to the market’s expansion.
c. Shift towards Plant-Based Diets:
As the popularity of plant-based diets rises, rice bran oil has gained traction as a plant-derived alternative to animal fats. It caters to the increasing demand from consumers seeking sustainable and ethical food choices.
-
Geographical Trends:
a. Asia-Pacific Dominance:
The Asia-Pacific region, particularly countries like India, China, and Japan, dominates the global rice bran oil market. These nations have a rich culinary tradition that involves the use of rice bran oil, and the growing awareness of its health benefits has further fueled its demand.
b. North America and Europe Adoption:
North America and Europe are experiencing a steady increase in the adoption of rice bran oil, driven by a rising focus on healthy eating habits. The market is witnessing a shift in consumer preferences towards alternative and healthier cooking oils.
-
Challenges and Opportunities:
a. Supply Chain Concerns:
Fluctuations in rice production and the availability of rice bran pose challenges to the stable supply of rice bran oil. Market players are investing in sustainable sourcing practices to mitigate these concerns.
b. Technological Innovations:
Ongoing research and development efforts are focused on enhancing extraction processes and developing new rice bran oil varieties with improved nutritional profiles. Technological innovations present opportunities for market players to differentiate their products and gain a competitive edge.
