The global rice bran oil market is projected to grow at a CAGR of 9.98% during the forecast period (2020-2025).
- The global rice bran oil market is being driven by rising health consciousness among consumers and high demand for nutritional and fat-free food and beverages owing to its mild flavor, neutral taste, and rich nutrient content. Other factors responsible for the growth of the market include numerous application areas, aggressive promotional campaigns by manufacturers and high penetration in both developed and emerging markets.
- Furthermore, regulatory bodies favoring the consumption of rice bran oil has further boosted the market growth. For instance, the World Health Organization (WHO) and the American Heart Association have approved the use of rice bran oil, stating that its composition of monounsaturated, polyunsaturated, and saturated fats is much safer as compared to the composition of most other vegetable oils.
- However, the market is facing challenges such as less popularity of rice bran oil among people as compared to other healthy edible oil that is restraining the market space.
Key Market Trends
Rising Demand For Organic Edible Oils
The increasing demand for trans fat-free oils, along with the rising consumer health-consciousness is the key factor driving the organic edible oil market. These oils are free from artificial ingredients and are considered as a healthier alternative than conventional oils. Therefore, a rise in consumer shift from traditional products to clean-label, organic, and non-GMO products has been witnessed, thus gearing the market growth. Other factors boosting the market growth include increasing incidences of health problems, such as digestive disorders, diabetes, and obesity.
Asia-Pacific is the Largest Market
Asia-Pacific accounts for relatively high volume share and is expected to grow at a significant rate in the global rice bran oil market, because of the easy availability of raw material across the region particularly in India. The major producers in the region are India, China, Japan, and Thailand. India is the world's largest consumption area. The perceived health benefits of cooking in edible oil are one of the primary reasons for preference for rice bran oil among Australian consumers, as it prevents heart attack and helps in lowering the cholesterol absorptions. Moreover, it is considered as a rich source of Vitamin A, γ-oryzanol, and phytosterols, and it contains many medicinal properties.
The global rice bran oil market is fragmented and has several small and regional players operating in it. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Some of the key players are Cargill, Incorporated, King Rice Oil Group, Ricela Health Foods Ltd. and Adani Wilmar Limited among others.
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