A new research report by IMARC Group, titled “Rice Bran Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the global rice bran oil market reached a volume of 1.6 Million Tons in 2018, growing at a CAGR of more than 4% during 2011-2018. Rice bran oil is an edible vegetable oil that is extracted from the outer brown layer (bran) of rice grain. It is one of the healthiest and most nutritious edible oils due to the presence of abundant natural bioactive phytoceuticals such as oryzanol, tocopherols, tocotrienols and lecithin. Besides this, it is a rich source of vitamin E and antioxidants and possesses cholesterol-lowering ability. Further, rice bran oil is characterized by a mild flavor and neutral taste that easily blends with other less stable oils and makes them suitable for high-temperature cooking like deep- and stir-frying. In addition, it offers numerous health benefits such as reducing the risk of cancer, preventing gastrointestinal disorders, improving the nervous system and increasing immunity.
Growing awareness about the multiple health benefits offered by rice bran oil amongst consumers of developed as well as developing countries has escalated its consumption. A rise in the demand for food and beverages with low fat and high nutritional content is also stimulating the market growth. Apart from being used in food applications, rice bran oil also serves a vital purpose in the cosmetics and pharmaceutical industries for manufacturing soaps, moisturizers, lotions, and therapeutic and haircare products. Other major factors that are providing a boost to the growth of the market include rapid urbanization, inflating disposable incomes, changing lifestyles, aggressive promotions by manufacturers and increasing popularity in emerging markets. Looking forward, the market is anticipated to register a CAGR of 2% during 2019-2024, reaching a volume of 1.8 Million Tons by 2024.
- On the basis of end-uses, the market has been bifurcated into edible and industrial applications. Amongst these, edible applications represent the largest end-use segment of rice bran oil, accounting for the majority of the total market share.
- Region-wise, the market has been divided into India, China and Japan. Amongst these, India is the leading market, holding the dominant market share. Rising awareness about the health benefits offered by rice bran oil is majorly contributing to its sales in the country.
- The competitive landscape of the industry has been analyzed with the detailed profiles of key players operative in the rice bran oil market.
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