Global Rice Bran Oil Market Outlook
According to a new report by Expert Market Research titled “Global Rice Bran Oil Market Size, Share, Analysis, Report, Demand, Forecast 2024-2032″, the global rice bran oil market grew significantly in 2023. Aided by the growing demand for healthier edible oils and the widening applications of rice bran oil in diverse industries, the market is projected to further grow at a CAGR of 2.4% between 2024 and 2032.
Rice bran oil is derived from the outer layer of rice kernels, commonly known as rice husk or bran. It has been gaining traction as one of the healthiest edible oils due to its balanced fat composition, low trans fats, and an abundance of antioxidants. Beyond its culinary use, rice bran oil finds applications in cosmetics for its skin-nourishing attributes and in the pharmaceutical industry for its potential health benefits.
A significant driver bolstering the rice bran oil market growth is the escalating consumer inclination towards healthier dietary choices. As people become increasingly aware of the ill effects of trans fats and cholesterol, the shift towards oils that offer nutritional benefits is evident. Rice bran oil, with its optimal levels of monounsaturated, polyunsaturated, and saturated fats, stands out as a preferred choice. Furthermore, the presence of essential compounds such as oryzanol and tocotrienols amplifies its health appeal, associating it with cardiovascular benefits and cholesterol-lowering properties.
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As per the rice bran oil market analysis, diverse applications of rice bran oil in multiple sectors also enhance its market value. In the realm of cosmetics, rice bran oil is cherished for its moisturising properties and rich vitamin E content, making it a preferred component in lotions, creams, and serums. Its potential antioxidant properties have positioned it as an ingredient of interest in pharmaceutical research, with studies delving into its therapeutic potentials.
Another crucial aspect lending momentum to the rice bran oil market demand is the increasing popularity of Asian cuisines across the globe. As rice bran oil is a traditionally preferred medium for cooking in many Asian countries due to its high smoke point and mild flavour, its demand has surged in parallel with the global appreciation of Asian dishes.
Yet, the expansion of rice bran oil in the global market doesn’t stop at the culinary or health benefits. The oil’s potential role in biodiesel production presents another avenue of growth and further adds value to the rice bran oil market size. With the world moving towards sustainable energy solutions, rice bran oil’s feasibility as a biodiesel substrate is being explored, adding another dimension to its market prospects.
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Market Segmentation
The market can be divided based on end use and region.
Market Breakup by End Use
- Edible
- Industrial
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the market. Some of the major players explored in the report by Expert Market Research are as follows:
- Ricela Health Foods Ltd
- DELEKANG
- Gustav Heess GmbH
- Kasisuri Co., Ltd.
- Others
FAQs:
What is the anticipated boom charge of the marketplace in the forecast length of 2024-2032?
- Anticipated during the duration from 2024 to 2032, the market is forecasted to exhibit a noteworthy Compound Annual Growth Rate (CAGR) of 2.4%.
What are the primary drivers influencing the market’s trajectory?
- The market’s momentum is fueled by a confluence of key drivers, including the ascent of disposable incomes, a burgeoning global population, heightened awareness regarding its health benefits among consumers, evolving lifestyles, and the increased incorporation of the oil in various cosmetic products.
What are the noteworthy trends characterizing the market?
- A prominent trend shaping the market is the escalating penetration of the product in both developed and emerging markets, attributed to robust marketing campaigns.
According to the market report, which regions play a significant role in the market?
- The Asia Pacific emerges as the primary market for the product, with North America, Europe, Latin America, and the Middle East and Africa standing as other pivotal regions in the market landscape.
What constitutes the major end-use sector within the market?
- The primary end-use sector within the market is the edible sector, underscoring the diverse applications of rice bran oil.
Who are the key players in the market, as indicated by the report?
- Prominent contributors to the market include Ricela Health Foods Ltd, DELEKANG, Gustav Heess GmbH, Kasisuri Co., Ltd., and other influential entities highlighted in the comprehensive report.
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