Newark, NJ, Feb. 16, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global rice bran oil market is expected to grow from USD 4.80 billion in 2020 and to reach USD 6.83 billion by 2028, growing at a CAGR of 4.5% during the forecast period 2021-2028.
The global rice bran oil market has witnessed significant growth in the recent years. This growth is attributed to rapid urbanization, increasing health awareness among consumers, changing lifestyles, increasing domestic income, and increasing demand for high nutrition and less fat-containing food and beverages. Other factors propelling the market growth include rising consumer health consciousness from edible oils to reduce cholesterol levels and growth in the personal care & cosmetic industry.
Rice bran oil is oil that is extracted from the hard outer brown layer of the rice husk. It provides healthy fats and various other nutrients. Rice bran oil supports healthy blood sugar levels by improving insulin resistance and also lowers blood sugar by transporting sugar into the body cells. It reduces heart disease risk by improving cholesterol levels. The various active compounds in the rice bran oil include oryzanol and tocotrienols. These active compounds provide antioxidant and anti-inflammatory effects. The rice bran oil can also combat bad breath, promote skin health, and enhance the immunity system. It is a good source of vitamin E, unsaturated fats, and various other important nutrients.
The global rice bran oil market is expected to witness significant growth, owing to the rising demand for organic edible oils, increasing incidences of health problems like diabetes, digestive disorders, and obesity, increasing penetration in both developed and developing economies, and aggressive promotional campaigns by various key manufacturers. The factors restraining the market growth include less popularity of rice bran oil among consumers, and unpredictable bowel movements, higher consumption of oil causing intestinal gas and stomach discomfort.
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The key players operating in the global rice bran oil market include BCL Industries & Infrastructure, Sethia and A.P. Refineries Pvt. Ltd., Ricela Health Foods, Vaighai Agro Products Ltd., Malar Solvent, Maheshwari Solvent, N.K. Proteins Ltd., Adani Wilmar, Harwin Agro Enterprises (P) Ltd., 3F Industries Ltd., ITC Ltd., Modi Naturals Ltd., and Marico Ltd. To gain a significant market share in the global rice bran oil market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
Food & Beverage segment dominated the market and held the largest share of 36.48% in the year 2020
On the basis of application, the global rice bran oil market is segmented into nutraceutical, animal feed, food & beverages, and others. Food & Beverage segment dominated the market and held the largest share of 36.48% in the year 2020. This growth is attributed to the increasing popularity of beverages made of cereals. The nutraceutical segment is anticipated to witness significant growth due to the rising awareness about the product benefits in the treatment of various chronic disorders and the rising use of rice bran oil in medicines for protection against various degenerative diseases.
Offline segment dominated the market and held the largest share of 65.7% in the year 2020
On the basis of distribution channel, the global rice bran oil market is segmented into online and offline. Offline segment dominated the market and held the largest share of 65.7% in the year 2020. This growth is attributed to the availability of personal store assistance, and hypermarkets and supermarkets being an important channel for companies to launch their products. Online segment is anticipated to witness significant growth due to increased consumer disposable income, the popularity of e-commerce sites, and improved standard of living.
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Regional Segment of Rice Bran Oil Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global rice bran oil market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia-Pacific held the largest share of 37.2% in the year 2020. This growth is attributed to the easy availability of raw materials across the region and high consumption in various Asian countries. China, India, Japan, and Thailand are the major producers of rice bran oil. In the Asia-Pacific region, India is the largest rice bran oil manufacturer, owing to the easy availability of raw material across the country. North America is expected to witness significant growth due to increasing health consciousness among consumers in the region, rising demand for healthy edible oil, and rising prevalence of chronic diseases. Europe region is expected to grow due to rising health awareness among consumers in the region.
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About the report:
The global rice bran oil market is analyzed on the basis of value (USD billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors position grid analysis.
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