London, April 03, 2024 (GLOBE NEWSWIRE) -- Global Rice bran oil market is poised for significant growth in the coming years, driven by a rise in health consciousness and increasing consumer awareness of the benefits of rice bran oil. According to a recent report by Fairfield Market Research, the rice bran oil market is expected to reach a value of US$14.8 Bn by 2030, growing at a CAGR of 8.9% during the forecast period, 2023 – 2030.
Consumers are becoming increasingly aware of the health benefits of rice bran oil, which is driving demand for the product. The company’s analyst explains, “Rice bran oil is a versatile product with a wide range of applications,” adding further, “The rising demand for healthy and natural products is expected to be a major driver of the rice bran oil market in the coming years.”
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2023 – 2030 | |
| Market Size in 2022 | US$8.1 Bn | |
| Estimated Market Size in 2030 | US$14.8 Bn | |
| CAGR | 8.9% | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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“We clearly identify the Asia Pacific region to be the fastest-growing market for rice bran oil, over the years to come. The increasing disposable income, and rising health consciousness in the region are creating significant opportunities for rice bran oil producers,” says another analyst at Fairfield Market Research.
Rising health consciousness is a major factor driving the growth of the rice bran oil market. Rice bran oil is perceived as a healthy cooking oil due to its high nutritional content, including oryzanol, vitamin E, and gamma-oryzanol. Rice bran oil is adaptable for use in various applications, including cosmetics, pharmaceuticals, and industrial lubricants. This versatility is expected to further propel market growth.
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Key Research Insights
- By application, the cooking oil segment is expected to hold the largest market share during the forecast period due to the rising demand for healthy cooking oils.
- The cosmetics segment is expected to witness significant growth during the forecast period due to the increasing demand for natural and organic cosmetics.
- Rice bran oil is perceived as a healthy alternative to other cooking oils due to its high smoke point, low saturated fat content, and high content of antioxidants. Rice bran oil is also considered a rich source of vitamin E, and other nutrients that are beneficial for the skin.
- The pharmaceuticals segment is expected to grow steadily during the forecast period due to the increasing use of rice bran oil in various pharmaceutical applications, such as wound healing and the treatment of skin conditions.
Insights into Segmentation Analysis
Cooking Oil Dominant Application Area, Personal Care Follows
People are increasingly seeking healthy alternatives for traditional cooking oils. Rice bran oil offers a high smoke point, making it suitable for high-heat cooking methods like stir-frying, while boasting a low saturated fat content and a wealth of antioxidants. This combination positions it favourably against other oils.
Beyond basic cooking, rice bran oil offers additional functional benefits. Its high oryzanol content is linked to cholesterol-lowering properties, further boosting its appeal for health-focused consumers.
The natural and organic cosmetics trend is propelling the growth of the rice bran oil market in this segment. Packed with vitamin E, and other skin-nourishing nutrients, rice bran oil is a natural choice for manufacturers seeking to create gentle and effective skincare products.
Rice bran oil is a natural emollient, meaning it helps lock in moisture and keep skin supple.
Additionally, its antioxidant properties can help combat the effects of aging and environmental damage on the skin.
Pharmaceuticals Segment Soars High as Use in Pharma Applications Grows
Rice bran oil's anti-inflammatory properties are being explored in wound healing products to promote faster recovery and reduce scarring.
The calming and nourishing properties of rice bran oil make it a potential ingredient for products addressing eczema, psoriasis, and other skin conditions.
While smaller compared to other segments, the industrial lubricants segment offers potential for growth. With growing awareness of the environmental impact of traditional lubricants, the demand for eco-friendly alternatives is rising.
Rice bran oil, a biodegradable resource, presents itself as a viable option in certain industrial applications.
Key Report Highlights
- North America, and Europe are expected to hold a significant share of the rice bran oil market during the forecast period. However, the growth in these regions is expected to be slower than in the Asia Pacific region due to the already high penetration of rice bran oil in these markets.
- Latin America, and the Middle East and Africa are expected to be emerging markets for rice bran oil. The growth in these regions is expected to be driven by the increasing urbanisation, and rising disposable income.
Insights into Regional Analysis
Asian Markets Accelerate While Developed Western Regions Experience a Stable Trail
The Asia Pacific region is expected to be the fastest-growing market during the forecast period due to the increasing disposable income and rising health consciousness in the region.
Rising disposable incomes in Asian countries allow consumers to invest in premium products like healthy cooking oils.
Rice bran oil is a traditional cooking oil in many Asian countries, making consumer acceptance higher. The presence of major rice bran oil producers like China, and India within the region fuels further market expansion.
The North American, and European regions are expected to hold a significant share but experience slower growth compared to Asia Pacific. Rice bran oil has already established itself as a viable option in these markets, limiting the further room for rapid expansion.
On the other hand, markets like Latin America, and Middle East & Africa are poised for significant growth in the rice bran oil market. With growing urbanisation and increasing disposable income, consumers in these regions are becoming more receptive to premium and healthy products like rice bran oil.
Key Players in Global Rice Bran Oil Market Space
- Archer Daniels Midland Company (ADM)
- Bunge Limited
- Cargill, Incorporated
- CHS Inc.
- Louis Dreyfus Company
- Fuji Oil Co., Ltd.
- Riviana Foods Inc.
- Riceland Foods Cooperative
- Wilmar International Limited
Global Rice Bran Oil Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 (By Grade Coverage, By Application Coverage, By Distribution Channel Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/rice-bran-oil-market
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