Rice Bran Oil Market Trends, Size, Growth, Challenges and Forecast 2030

Global rice bran oil market is forecasted to experience substantial growth in the coming years, reaching a valuation exceeding $14.8 billion by 2030. According to recent market analysis, the market, valued at approximately $8.1 billion in 2022, is anticipated to exhibit a remarkable Compound Annual Growth Rate (CAGR) of 8.9% over the period of 2023 to 2030.

Growing Demand Driven by Health Awareness and Culinary Trends

• Growing Awareness of Health Benefits: Increasing health consciousness among consumers worldwide is a key driver propelling the expansion of the rice bran oil market. Consumers are actively seeking healthier cooking oil alternatives, drawn by the high nutritional content and cholesterol-lowering properties of rice bran oil. This heightened awareness of the nutritional value of rice bran oil is significantly influencing consumer purchasing behavior.
• Culinary Versatility Spurs Market Growth: The growing trend towards healthier and more versatile cooking oils is fueling the demand for rice bran oil in various culinary applications. Chefs and food manufacturers are increasingly opting for rice bran oil due to its high smoke point, light flavor, and nutritional profile, thereby driving market expansion.

Dominance of Food-Grade and Culinary Oil Segments

• Food-Grade Oils Lead Market Demand: The market is predominantly led by food-grade oils, as consumers prioritize healthier culinary oils. The nutritional benefits of rice bran oil, including its high smoke point and cholesterol-cutting properties, are driving its popularity in the food industry, thus contributing to the growth of this segment.
• Culinary Oil Segment Commands Market Dominance: Within the market, the culinary oil segment holds significant dominance, driven by extensive utilization of rice bran oil in both residential and commercial cooking. Its high smoke point, nutritional content, and versatility further bolster market demand and consumer preference.

Online Retail Segment Drives Market Expansion

• Convenience of Online Shopping: The online retail segment emerges as a dominant force in the rice bran oil market, fueled by the convenience offered by e-commerce platforms. Consumers increasingly prefer the ease of purchasing rice bran oil online, contributing to the rapid growth and dominance of this segment.

Asia Pacific and North America Lead Market Growth

• Rapid Growth in Asia Pacific: The Asia Pacific region exhibits the fastest growth rate in the market, driven by countries like China and India embracing healthier cooking oils. The popularity of rice bran oil, coupled with growing health consciousness, contributes significantly to the robust expansion of the market in this region.
• Market Concentration in North America: North America emerges as a key market region, driven by rising demand for healthier cooking options. The nutritional advantages of rice bran oil appeal to health-conscious consumers in the region, leading to substantial market growth and dominance.

Key Growth Determinants

• Increasing Health Consciousness and Demand for Nutritional Cooking Oils
• Growing Awareness of Rice Bran Oil's Versatility
• Expansion of Online Distribution Channels

Major Growth Barriers

• Price Sensitivity and Competition from Lower-Cost Alternatives
• Limited Awareness and Educational Gaps

Key Trends and Opportunities

• Surge in Demand for Organic and Non-GMO Variants
• Technological Advancements in Extraction Processes
• Increasing Focus on Sustainable and Responsible Sourcing

Regional Frontrunners

• North America: Highest Affliction for Rice Bran Oil
• Asian Markets: Consumer Shift Toward Healthier Choices Driving Sales

Leaders in Global Rice Bran Oil Space

1. Adani Wilmar
2. Cargill Incorporated
3. Ricela Group of Companies
4. Emami Agrotech Limited
5. King Rice Oil Group
6. AP Solvex Ltd.
7. 3F Industries Ltd.
8. Marico Limited
9. California Rice Oil CompanyConagro Foods

For More Industry Insights Read:https://www.fairfieldmarketresearch.com/report/rice-bran-oil-market