The global rice bran oil market is expected to grow at a CAGR of 5.8% from 2024 to 2031 to reach USD 4.2 billion by 2031.
Asia-Pacific is projected to dominate the market during the forecast period. Key growth drivers include the rising health consciousness among consumers, increasing demand for natural and organic ingredients in food and personal care products, and the growing awareness about the nutritional benefits of rice bran oil.
Rice bran oil, derived from the outer layer of rice, has gained popularity in recent years due to its health-promoting properties. It is rich in vitamins, minerals, and antioxidants, making it a preferred choice for health-conscious consumers. The oil is widely used in cooking, as well as in the production of functional foods, cosmetics, and pharmaceuticals.
Growing Health Consciousness and Demand for Nutritional Oils Driving Market Growth
The rice bran oil market is significantly influenced by the increasing health consciousness among consumers worldwide. With the rising prevalence of lifestyle-related diseases such as obesity, diabetes, and heart disorders, consumers are actively seeking healthier alternatives to traditional cooking oils. Rice bran oil, with its balanced fatty acid composition, high smoke point, and anti-inflammatory properties, has emerged as a preferred choice for health-conscious individuals.
Moreover, the growing demand for natural and organic ingredients in food products is further driving the market growth. Consumers are increasingly looking for minimally processed, chemical-free, and sustainably sourced ingredients. Rice bran oil, being a natural and plant-based oil, aligns well with this trend and is finding increased applications in the food and beverage industry.
Expanding Applications in Cosmetics and Personal Care Industry
The trend of using natural and organic ingredients in cosmetics and personal care products is driving the demand for rice bran oil in this sector. Rice bran oil is known for its skin-nourishing properties, such as moisturizing, anti-aging, and sun protection. It is rich in vitamins E and B, as well as fatty acids, which contribute to its cosmetic benefits.
Many cosmetic manufacturers are incorporating rice bran oil into their product formulations, such as skincare creams, lotions, hair care products, and makeup. The increasing consumer preference for natural and organic personal care products is expected to further boost the demand for rice bran oil in this segment.
Limited Awareness and Higher Cost Compared to Conventional Oils Hindering Market Growth
Despite the numerous health benefits, the limited awareness about rice bran oil among consumers in certain regions is a restraint for market growth. Many consumers are still accustomed to traditional cooking oils such as sunflower, soybean, and olive oil, and may not be aware of the unique properties and benefits of rice bran oil. Educating consumers about the nutritional advantages of rice bran oil will be crucial for driving its adoption.
Additionally, the higher cost of rice bran oil compared to conventional cooking oils can be a barrier for price-sensitive consumers. The production of rice bran oil involves additional processing steps, which contribute to its higher price point. Increasing production efficiency and economies of scale will be important for making rice bran oil more affordable and accessible to a wider consumer base.
Edible Rice Bran Oil Segment to Dominate the Market During the Forecast Period
The edible rice bran oil segment is expected to hold the largest share of the rice bran oil market during the forecast period. Edible rice bran oil is widely used for cooking and food preparation purposes due to its high smoke point, neutral taste, and nutritional benefits. It is rich in antioxidants, such as gamma-oryzanol, which helps in reducing cholesterol levels and promoting cardiovascular health.
The growing awareness about the health benefits of edible rice bran oil, particularly in Asian countries where rice is a staple food, is driving the growth of this segment. In 2023, a leading edible oil manufacturer in India launched a new range of premium rice bran oil, fortified with additional vitamins and minerals, to cater to the growing health-conscious consumer segment.
Asia-Pacific to Lead the Rice Bran Oil Market
Asia-Pacific is expected to dominate the rice bran oil market during the forecast period. The region's market growth is driven by the large-scale production of rice, the increasing health awareness among consumers, and the growing demand for natural and organic products. Countries like India, China, and Japan are major producers and consumers of rice bran oil in the region.
In 2024, a Japanese cosmetics company launched a new line of skincare products featuring rice bran oil as a key ingredient. The company collaborated with local rice farmers to source high-quality, organic rice bran oil for its products, emphasizing the natural and sustainable aspects of the ingredient.
India is the largest producer and consumer of rice bran oil globally, accounting for over 50% of the market share in 2024.
In Thailand, the government has been promoting the use of rice bran oil as a healthier alternative to palm oil, which is widely used in the country. The Ministry of Commerce has been encouraging local manufacturers to increase the production and distribution of rice bran oil to meet the growing domestic demand.
The rice bran oil market is characterized by the presence of several regional and international players. Key market players include Ricela Health Foods Ltd., Sethia Oils Limited, Jain Group of Industries, BCL Industries & Infrastructure Ltd., and Tsuno Food Industrial Co., Ltd. These companies are focusing on expanding their production capacities, improving their distribution networks, and launching new product variants to cater to the evolving consumer preferences.
Market leaders are investing in research and development to enhance the nutritional profile and functionality of rice bran oil. They are also focusing on sustainable sourcing practices and collaborating with local rice farmers to ensure a stable supply of high-quality rice bran. For instance, in 2023, Jain Group of Industries launched a new range of organic rice bran oil, sourced from certified organic rice farms in India.
Emerging players are introducing innovative product formulations and packaging solutions to differentiate themselves in the market. They are also leveraging e-commerce platforms and digital marketing strategies to reach a wider consumer base and create brand awareness.
The future outlook for the rice bran oil market remains positive, with the increasing consumer preference for healthy and natural ingredients. However, market players need to focus on educating consumers about the benefits of rice bran oil and ensuring consistent quality and availability to drive widespread adoption.
The rice bran oil market is poised for significant growth in the coming years, driven by the increasing health consciousness among consumers and the growing demand for natural and organic ingredients. The nutritional benefits of rice bran oil, such as its antioxidant content and balanced fatty acid profile, will continue to attract health-conscious consumers.
The Asia-Pacific region, with its large rice production base and increasing consumer awareness, is expected to dominate the market. However, other regions, such as North America and Europe, are also witnessing a growing demand for rice bran oil, driven by the rising popularity of Asian cuisine and the increasing preference for healthier cooking oils.
The food and beverage industry will remain the key application segment for rice bran oil, with its increasing use in functional foods, health supplements, and cooking oils. The cosmetics and personal care segment is also expected to witness significant growth, driven by the demand for natural and organic ingredients in skincare and haircare products.
To succeed in this market, companies need to focus on ensuring the consistent quality and purity of their rice bran oil products. Investing in advanced processing technologies, such as cold pressing and solvent extraction, will be crucial to maintain the nutritional integrity of the oil. Collaborating with local rice farmers and adopting sustainable sourcing practices will also be important to ensure a stable and traceable supply chain.
Ricela Health Foods Ltd.
Sethia Oils Limited
Jain Group of Industries
BCL Industries & Infrastructure Ltd.
Tsuno Food Industrial Co., Ltd.
A.P. Organics Ltd.
Harwin Agro Enterprises (Pvt) Ltd.
Maheshwari Solvent Extraction Private Limited
In February 2024, Ricela Health Foods Ltd. expanded its production capacity for rice bran oil by setting up a new state-of-the-art processing facility in North India.
In April 2024, Tsuno Food Industrial Co., Ltd. launched a new range of organic rice bran oil, targeting the health-conscious consumer segment in Japan and South Korea.
1. INTRODUCTION
1.1. Market Definitions & Study Assumptions
1.2. Market Research Scope & Segment
1.3. Research Methodology
2. EXECUTIVE SUMMARY
2.1. Market Overview & Insights
2.2. Segment Outlook
2.3. Region Outlook
3. COMPETITIVE INTELLIGENCE
3.1. Companies Financial Position
3.2. Company Benchmarking -- Key Players
3.3. Market Share Analysis -- Key Companies
3.4. Recent Companies Key Activities
3.5. Pricing Analysis
3.6. SWOT Analysis
4. COMPANY PROFILES (Key Companies list by Country) (Premium)*
5. COMPANY PROFILES
5.1. Ricela Health Foods Ltd.
5.2. Sethia Oils Limited
5.3. Jain Group of Industries
5.4. BCL Industries & Infrastructure Ltd.
5.5. Tsuno Food Industrial Co., Ltd.
5.6. A.P. Organics Ltd.
5.7. Harwin Agro Enterprises (Pvt) Ltd.
5.8. Maheshwari Solvent Extraction Private Limited
(*LIST NOT EXHAUSTIVE)
6. MARKET DYNAMICS
6.1. Market Trends
6.1.1. Increasing Use of Rice Bran Oil in Functional Foods and Health Supplements
6.1.2. Growing Demand for Organic and Non-GMO Rice Bran Oil
6.1.3. Rising Popularity of Rice Bran Oil in Asian Cuisine and Fusion Food
6.2. Market Drivers
6.2.1. Growing Health Consciousness and Demand for Nutritional Oils Driving Market Growth
6.2.2. Expanding Applications in Cosmetics and Personal Care Industry
6.2.3. Increasing Awareness About the Health Benefits of Rice Bran Oil
6.3. Market Restraints
6.3.1. Limited Awareness and Higher Cost Compared to Conventional Oils Hindering Market Growth
6.3.2. Challenges in Ensuring Consistent Quality and Purity of Rice Bran Oil
6.4. Market Opportunities
6.5. Porter's Five Forces Analysis
6.5.1. Threat of New Entrants
6.5.2. Bargaining Power of Buyers/Consumers
6.5.3. Bargaining Power of Suppliers
6.5.4. Threat of Substitute Products
6.5.5. Intensity of Competitive Rivalry
6.6. Supply Chain Analysis
6.7. Value Chain Analysis
6.8. Trade Analysis
6.9. Pricing Analysis
6.10. Regulatory Analysis
6.11. Patent Analysis
6.12. SWOT Analysis
6.13. PESTLE Analysis
7. BY TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
7.1. Edible
7.2. Non-Edible
8. BY APPLICATION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
8.1. Food & Beverages
8.1.1. Cooking Oil
8.1.2. Functional Foods
8.1.3. Dietary Supplements
8.1.4. Others
8.2. Cosmetics & Personal Care
8.2.1. Skincare
8.2.2. Haircare
8.2.3. Others
8.3. Pharmaceuticals
8.3.1. Nutraceuticals
8.3.2. Medicinal Supplements
8.3.3. Others
8.4. Industrial
8.4.1. Biofuels
8.4.2. Lubricants
8.4.3. Others
9. BY DISTRIBUTION CHANNEL (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
9.1. Supermarkets & Hypermarkets
9.2. Specialty Stores
9.3. Online Retail
9.4. Others
10. BY REGION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)*
10.1. North America
10.1.1. United States
10.1.2. Canada
10.1.3. Mexico
10.2. Europe
10.2.1. Germany
10.2.2. United Kingdom
10.2.3. France
10.2.4. Italy
10.2.5. Spain
10.2.6. Rest of Europe
10.3. Asia-Pacific
10.3.1. China
10.3.2. Japan
10.3.3. India
10.3.4. South Korea
10.3.5. Australia
10.3.6. Rest of Asia-Pacific
10.4. Latin America
10.4.1. Brazil
10.4.2. Argentina
10.4.3. Rest of Latin America
10.5. Middle East & Africa
10.5.1. Saudi Arabia
10.5.2. UAE
10.5.3. South Africa
10.5.4. Rest of Middle East & Africa
*NOTE: All the regions mentioned in the scope will be provided with (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
By Type:
Edible
Non-Edible
By Application:
Food & Beverages
Cosmetics & Personal Care
Pharmaceuticals
Industrial
By Distribution Channel:
Supermarkets & Hypermarkets
Specialty Stores
Online Retail
Others
By Region:
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
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