Global Rice Bran Oil Market Size By Use, By Channel of Distribution, By Final User, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Rice Bran Oil Market size was valued at USD 532.67 Million in 2023 and is projected to reach USD 714.18 Million by 2030,growing at a CAGR of 6.04% during the forecast period 2024-2030.
Global Rice Bran Oil Market Drivers
The market drivers for the Rice Bran Oil Market can be influenced by various factors. These may include
Trends in Health-Conscious Consumers raising consumer knowledge of rice bran oil’s many health advantages, such as its high antioxidant, vitamin E, and heart-healthy fatty acid content.
Increased Requests for Heart-Healthy Oils Rice bran oil is a popular option because of the rising demand for edible oils that are low in cholesterol and saturated fats due to growing worries about cardiovascular health.
Advantages for Nutrition and Useful Qualities Beneficial substances found in rice bran oil include the antioxidant oryzanol. Its high smoke point also makes it appropriate for a wide range of cooking techniques, which adds to its appeal in culinary applications.
Increasing Application in Food Industry Because of rice bran oil’s mild flavour, nutrient profile, and stability over heat, the food industry has been using it more and more in a variety of items, such as baked goods, snacks, and cooking oils.
Natural and non-GMO products are preferred Because rice bran oil is frequently seen as a natural and healthier alternative, consumer preference for non-genetically modified organisms (non-GMO) and natural products has favourably impacted the demand for rice bran oil.
Growing Need for Personal Care and Cosmetics The market expansion of rice bran oil can be attributed to its moisturising and skin-nourishing qualities, which are used in cosmetic and personal care products.
Changing Lifestyles and Growing Disposable Income Consumers are choosing healthier cooking oils, such as rice bran oil, as a result of dietary changes brought about by economic development and rising disposable incomes in some areas.
Promoted by Health Authorities Rice Bran OilConsumer attitudes have been positively impacted by health authorities’ and nutritionists’ endorsements and recommendations regarding the benefits of include rice bran oil in the diet.
Global Rice Bran Oil Market Restraints
Several factors can act as restraints or challenges for the Rice Bran Oil Market. These may include
Raw material price volatility Price fluctuations for rice, a necessary raw material for making rice bran oil, can have an effect on a manufacturer’s total cost of production as well as its profitability.
Rivalry with Other Edible Oils The market share of rice bran oil may be restricted by fierce competition from other cooking oils, such as canola, sunflower, and soybean oils, particularly in areas where these oils are more often utilised.
Insufficient Knowledge and Customer Education The adoption of rice bran oil may be hampered by a lack of consumer knowledge about its uses and nutritional advantages, particularly in markets where consumers are less familiar with it.
Understanding Allergies Customers’ desire to incorporate rice bran oil into their diet may be impacted by worries or perceptions of allergies.
Supply Chain Interruptions Supply chain disruptions resulting from problems with storage, processing, or transportation might affect the market’s supply of rice bran oil.
Restricted Duration of Use Similar to many other edible oils, rice bran oil has a short shelf life and can oxidise when exposed to air, heat, or light. Logistics of distribution and storage may be impacted by this restriction.
Problems with the Extraction Process Technical difficulties arise during the extraction of rice bran oil, and increasing extraction efficiency can be required to boost the oil’s overall competitiveness in the market.
Regulation Restrictions Producers of rice bran oil may face difficulties adhering to different regulatory standards and specifications pertaining to food safety and quality, especially with regard to certification and compliance.
Global Rice Bran Oil Market Segmentation Analysis
The Global Rice Bran Oil Market is Segmented on the basis of Use, Channel of Distribution, Final User, and Geography.
Industrial Uses Used in the food processing sector to make baked goods, snacks, and other food items.
Cosmetics and Personal Care Because of its moisturising and antioxidant qualities, it is utilised in skincare and haircare products.
By Channel of Distribution
Retail Supermarkets, hypermarkets and specialty shops sell rice bran oil to consumers.
Online Due to their ease and extensive product selection, online marketplaces are becoming more and more popular for selling rice bran oil.
Food service Commercial cooking in bulk supplied to hotels, restaurants, and catering services.
By Final User
Household Packaged rice bran oil for use in home kitchens by individuals and families.
Food Industry Food processors and manufacturers receive bulk quantities to utilise in a variety of food products.
By Geography
North America
Europe
Asia-Pacific
Latin America
The Middle East and Africa
Key Players
The major players in the Rice Bran Oil Market are
ADM (Archer Daniels Midland Company)
Bunge Limited
Cargill, Incorporated
Louis Dreyfus Company B.V.
Wilmar International Limited
AAK AB
Ingredion Incorporated
Sinar Mas Agribusiness and Food PLC
KOOGI (Shandong) Cereal & Oils Holding Co., Ltd.
Olam International Limited
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2030
BASE YEAR
2023
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Million)
KEY COMPANIES PROFILED
ADM (Archer Daniels Midland Company), Bunge Limited, Cargill, Incorporated, Louis Dreyfus Company B.V., Wilmar International Limited, AAK AB, Ingredion Incorporated, Sinar Mas Agribusiness and Food PLC, KOOGI (Shandong) Cereal & Oils Holding Co., Ltd., Olam International Limited
SEGMENTS COVERED
Use, Channel of Distribution, Final User, and Geography.
CUSTOMIZATION SCOPE
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