Rice Bran Oil Market Outlook
Rice bran oil has become more popular in recent cooking trends. According to Market Research Future's recent research on the food and beverage sector, the worldwide rice bran oil market is expected to rise at a higher CAGR during the assessment period.
Rice bran oil is extracted from the bran/husk that surrounds the rice kernel. It is well-known for its mild flavour and taste, which allows it to be used in a variety of dishes. Because it has a balanced mix of monounsaturated, polyunsaturated, and saturated fats, the oil is employed in a variety of cooking applications. As a result of this, the oil is increasingly being used in various cooking methods as it is a heart-friendly oil, resulting in significant market growth. Apart from that, the oil's nutritional potential is driving up demand all around the world.
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Rice bran oil is mined from the bran/husk that is found surrounded by the kernel of rice. It is widely known for its mild flavor and taste that creates versatility in food. The oil is used in lots of cooking applications, as it contains a balanced amount of monounsaturated, polyunsaturated, and saturated fats. Due to this, the oil is being increasingly incorporated in various cooking as it is a heart-friendly oil, which has led to the growth of the market significantly. Apart from this, the nutrient value in the oil is majorly increasing the demand across the world.
The demand for rice bran oil is majorly driven by factors such as increasing health consciousness among the consumers. There has been a recent trend where people are inclined towards nutritional and fat-free food, which is enabling them to prefer using rice ban oil and hence contributing to the growth of the market remarkably. Other than these factors, increased investment and collaborations by the manufactures for rice ban oil to make it popular is expected to propel the market to expand significantly during the approaching period. Relatively more organic and gluten-free rice ban oil has also increased the manufacturers in the market, thereby growing the market size remarkably.
Regional Outlook
The global rice bran oil market has been studied regarding critical regions of North America, Europe, Asia-Pacific, and the rest of the world.
The edible oil industry in India is hugely driven by the import of edible oil, which includes rice ban oil, due to which, the Asia Pacific is expected to lead the market during the forecast period. Major countries, such as Japan, China, Thailand, and Vietnam, among others, are highly productive regions for rice ban oil as it is highly used in cooking. Pioneer of rice bran oil has gained massive acceptance by the consumers in these regions, which is anticipated to grow the market over the foreseen period.
North America is also a substantial region for gaining the share in the global rice bran oil market with a higher CAGR. It is due to the US that has observed to be the major contributor to the growth of the rice bran oil market in support of high demand among the consumers.
On the other hand, Europe is also expected to grasp a significant share of the global rice bran oil market owing to the growing demand for healthy oils among the consumers. Besides, the rising health-conscious population, along with swelling awareness for rice bran oil among the consumers, is predictable to drive the growth of the market.
Market Segmentation
The global rice bran oil market has been segmented by category, packaging type, distribution channel, and region.
In terms of category, the global rice bran oil market has been classified as conventional and organic.
In terms of packaging type, the global rice bran oil market has been divided into bottles, pouches, and others.
In terms of distribution channel, the market has been segmented into store-based and non-store based. The store-based segment is sub-divided into supermarkets hypermarkets, convenience stores, and others.
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Key Players
The list of key players in the global rice ban oil market are 3F Industries Ltd (India), Cargill Inc. (US), Ricela Health Foods Ltd. (India), BCL Industries Infrastructure Limited (India), Adani Wilmar Limited (India), Mexiterra, LLC (US), Riceland Foods (US), Sethia Oils Limited (India), King Rice Oil Group (Thailand), Modi Naturals Ltd. (India).
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