|Fastest Growing Market:||Europe|
|Largest Market:||Asia Pacific|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The rice bran oil market is projected to witness a CAGR of 9.98% during the forecast period (2022-2027).
The COVID-19 pandemic created turbulence in the market but did not affect the edible oil market much. This, in turn, did not affect the rice bran oil market as well. The demand for food and beverage, including edible oils, increased, which led to the growth of the market. Moreover, various studies have depicted that the demand for organic edible oils like rice bran oils saw a rise during the pandemic due to the rising awareness regarding the benefits of rice bran oil.
The 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.
Regulatory bodies favoring the consumption of rice bran oil have 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.
Scope of the Report
Rice bran oil is prepared by extracting oil from the chaff of the rice. This oil has a high smoke point, which makes it useful for cooking at high temperatures, and it has a very mild flavor. The rice bran oil market is segmented by category, distribution channel, and geography. By category, the market is segmented into organic and conventional. Based on the distribution channel, the market is divided into hypermarkets/supermarkets, convenience stores, online retailing, and other distribution channels. Also, the study provides an analysis of the rice bran oil market in the emerging and established markets across the globe, including North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
|By Distribution Channel|
|Other Distribution Channels|
Key Market Trends
Increase in Production of Rice Drives the Market Growth
The increasing level of rice production across the world has led to increased market demand. Globally, this rise in the production of rice has escalated the market revenues in the rice brand oil market space. According to the United States Department of Agriculture, China, India, and Indonesia were the top producers of milled rice in the financial year 2020-21. This leads to the high standing of these countries in producing rice bran oil. India has been one of the largest producers of rice bran oil globally, with an increasing number of consumers realizing the importance of incorporating a heart-friendly oil into their diet. According to the Directorate of Economics and Statistics, the Government of India, the yield of rice increased from 2,638 kilograms per hectare in 2019 to 2,722 kilograms per hectare in 2020, further increasing the growth of the market. Various measures are taken by the government across the world to meet the supply and demand of edible oils. The quantitative restrictions on organic edible oils have been lifted by different growers and investors, which has led to the growth of the rice bran oil market.
To understand key trends, Download Sample Report
Asia-Pacific is the Largest Market
Asia-Pacific accounts for a 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 materials 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 cholesterol absorptions. Moreover, it is considered a rich source of Vitamin A, γ-oryzanol, and phytosterols, and it contains many medicinal properties. For instance, in 2021, the Ministry of Consumer Affairs, Government of India launched fortified rice bran oil in India. This rice bran oil was marketed under the apex Agri-marketing organization of India, viz, National Agricultural Cooperative Marketing Federation of India Ltd (NAFED).
To understand geography trends, Download Sample Report
The rice bran oil market is highly competitive and has several small and regional players operating in it. The market is fragmented, and the major players in the market include Cargill, Incorporated, King Rice Oil Group, Ricela Health Foods Ltd, Adani Wilmar Limited, and Modi Naturals. Emphasis is given to the merger, expansion, acquisition, and partnership of the companies, along with new product development, which work as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Major companies believe in strengthening their product quality with certifications to gain customer loyalty. For instance, Zhejiang Delekang Food Limited has different certifications like GMP certificate, ISO14001, ISO9001, Green Enterprise, QS certificate, OHSMS18000, and CNCA/CTS008-2008.
In 2021, Gemini Edibles & Fats India Ltd launched a new 5-liter jar of physically refined rice bran oil under the existing brand Freedom in India. The company focuses on different advertising techniques to let people know the benefits of rice bran oil.
In 2021, NK Proteins launched new rice bran oil under the brand name, Trupti. The brand was launched in Gujarat, India.
In 2021, TSUNO, a Japanese company, launched premium rice bran oil, namely Expeller Pressed Rice Bran Oil, prepared through the natural process of manufacturing.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Category
5.2 By Distribution Channel
5.2.2 Convenience Stores
5.2.3 Online Retailing
5.2.4 Other Distribution Channels
5.3.1 North America
184.108.40.206 United States
220.127.116.11 Rest of North America
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 Rest of Asia-Pacific
5.3.4 South America
188.8.131.52 Rest of South America
5.3.5 Middle-East and Africa
184.108.40.206 South Africa
220.127.116.11 Saudi Arabia
18.104.22.168 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Market Share Analysis
6.2 Key Strategies Adopted by the Leading Players
6.3 Company Profiles
6.3.1 Adani Wilmar Limited
6.3.2 Cargill Incorporated
6.3.3 King Rice Oil Group
6.3.4 Ricela Health Foods Ltd
6.3.5 AP Solvex Ltd
6.3.6 3F Industries Ltd
6.3.7 Zhejiang Delekang Food Co. Ltd
6.3.8 Marico Limited
6.3.9 Emami Agrotech
6.3.10 Modi Naturals
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
You can also purchase parts of this report. Do you want to check out a section wise price list?
Frequently Asked Questions
What is the study period of this market?
The Rice Bran Oil Market market is studied from 2016 - 2027.
What is the growth rate of Rice Bran Oil Market?
The Rice Bran Oil Market is growing at a CAGR of 9.98% over the next 5 years.
Which region has highest growth rate in Rice Bran Oil Market?
Europe is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Rice Bran Oil Market?
Asia Pacific holds highest share in 2021.
Who are the key players in Rice Bran Oil Market?
Cargill, Incorporated, King Rice Oil Group, Ricela Health Foods Ltd., Adani Wilmar Limited, Modi Naturals are the major companies operating in Rice Bran Oil Market.