Dublin, April 11, 2023 (GLOBE NEWSWIRE) -- The "Global Rice Bran Oil Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The global rice bran oil market was valued at US$ 1,681.29 million in 2020.
Companies Mentioned
- Ricela Health Foods Ltd.
- BCL Industries Limited
- 3F Industries Ltd.
- Adani Group
- Cargill, Incorporated
- King Rice Oil Group
- Zhejiang Delekang Food Co., Ltd
- Modi Naturals Ltd.
- Sanwa Yushi Co., Ltd.
Rice bran oil is extracted from the outer layer of rice; the outer layer of rice is known as bran. According to the International Rice Research Institute (IRRI), 100 kilograms of paddy will produce 5-10 kilograms of bran approximately. The extracted rice bran is a mixture of nutritious substances, including protein, good fat, ash, and crude fibre. The health benefits provided by rice bran are projected to fuel the market demand in the forecast period.
The growing health awareness among individuals worldwide further propels market growth in the forecast period. The growing number of lifestyle-related disorders like obesity and hypertension will provide an impetus in propelling the market demand in the forecast period.
The growing research activities on the global level have resulted in knowing the usage of rice bran for various household, commercial, and industrial purposes in the form of oil; such activities are further driving the market demand in the forecast period. The utilization of rice bran oil in feed formulation is further promoting market growth in the growing animal feed industry.
On the basis of geography, the Asia Pacific region is projected to hold a substantial market share due to the sizeable production of rice bran oil. The North American region is estimated to hold favorable growth prospects due to the high health awareness and rice bran oil benefits leading to high market demand in the forecast period.
The growing animal feed industry is propelling the market demand in the forecast period.
The animal feed industry is a competitive market with many suppliers operating in the market owing to the large consumer base, especially in developing regions like the Asia Pacific region, thus impacting the growth of the global rice bran oil for feed formulations. The demand for animal products is further burgeoning the market demand in the forecast period.
The use of feed additive trends is utilized to enhance the nutritional content in an animal which is leading to their increasing adoption, further adding to the growth of the global animal feed industry. Simultaneously, the expanding industrial livestock production and increasing animal farming further resulted in the expansion of the customer base of vendors.
Moreover, the firms in the industry are striving hard to remain competitive and improve their market share through strategic mergers and acquisitions, and joint ventures, especially in the APAC region. Fats and oils serve as important ingredients for the animal feed industry. The Asia Pacific region is among the key regions of the world with a high consumer base for animal products; manufacturers find this region as a lucrative opportunity for setting up their bases and generating high revenues.
Furthermore, government initiatives ensuring adequate health of an animal are further increasing the use of nutritional products contributing to promoting the health of livestock animals. The collaboration of the Animal Production and Health Commission for the Asia Pacific region with the other units in FAO and partnerships with international organizations such as the World Organization for Animal Health (OIE) and WHO are continuing to carry out several development initiatives for the livestock population.
Investments in meat production
In other regions of the world, like Saudi Arabia, the local chicken meat production is estimated to grow from 600,000 MT in 2016 to reach 700,000 MT by 2019 to achieve 60% self-sufficiency in chicken meat production (source: USDA).
The government of Saudi Arabia is focused on surging chicken meat production by the end of 2020 to meet food security goals. For this, the country invests in high amounts to expand poultry production and attain high economies of scale. Furthermore, to reduce high production costs, the government is offering subsidies for animal feed, in addition to providing interest-free loans and rebates for the purchase of poultry equipment. Yellow corn, soybean meal, distillers' dried grain with solubles (DDGs), corn gluten feed, and sorghum lie in the current list of animal feed products eligible for subsidies.
Furthermore, the government supports establishing new chicken farms, further increasing domestic meat production. Such initiatives are providing strong growth prospects for the market to propel in the forecast period.
In India the untapped potential of rice bran oil is further providing strong growth opportunities for the market to proliferate during the forecast period.
According to Solvent Extractors' Association, SEA estimates that in 2018, in India, the rice bran oil production was more than 9,80,000 tonnes per annum, growing by around 40,000 to 50,000 tonnes annually. Additionally, it was estimated that based on the country's paddy production output, which is the second-largest producer of rice in the world, the output potential of rice bran is around 9.8 million tonnes.
On the basis of rice bran production potential, the potential of rice bran oil production is more than 1.62 million tonnes every year. The untapped potential is about 6,50,000 tonnes. Furthermore, the country produces an average yield of around 2,400 kg per hectare from around 44 million hectares of land for rice production. During the time period 2016-2017, rice production was more than 100 million tonnes. West Bengal, Andhra Pradesh, Uttar Pradesh, and Punjab are the major rice-producing states.
Market Segmentation:
By Type
- Organic Rice Bran Oil
- Conventional Rice Bran Oil
By End-User
- Household
- Commercial
By Distribution Channel
- Online
- Offline
By Application
- Food & Beverage
- Cosmetics
- Animal Feed
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Europe
- UK
- Germany
- France
- Italy
- Middle East and Africa
- UAE
- Israel
- Saudi Arabia
- Asia Pacific
- Japan
- China
- India
- South Korea
- Taiwan
- Thailand
- Indonesia
For more information about this report visit https://www.researchandmarkets.com/r/o5fwyn
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