Wilmington, Delaware, United States, July 05, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global rice bran wax market was valued at US$ 408.6 Mn in 2022. It is estimated to grow at a CAGR of 6.8r from 2023 to 2031 and reach US$ 736.6 Mn by the end of 2031.
Increasing application of rice bran wax in various end-use industries such as cosmetics, pharmaceuticals, leather, food & beverages, textile, paper & pulp is expected to drive the market growth during the forecast period.
Increased consumer demand for natural and sustainable ingredients in various industries, including food, cosmetics, and pharmaceuticals. The rice bran wax is used as a food-grade coating or polish for fruits, vegetables, and confectionery products in food industry. The pharmaceutical industry also utilizes rice bran wax as a binder and coating agent contributing to the market growth.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 408.6 Mn | |
| Estimated Value | US$ 736.6 Mn | |
| Growth Rate - CAGR | 6.8% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 300 Pages | |
| Market Segmentation | Product, End-user | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America | |
| Companies Covered | Clariant AG, Croda International Plc., Poth Hille, Arjun Bees Wax Industries, SVROIL, The British Wax Refining Company Ltd., Strahl & Pitsch, Koster Keunen, Chongqing Hecai Chemical Technology Co., Ltd., Huzhou Shuanglin Shengtao Vegetable Fat Factory, Paras Group, and A.F. Suter & Co., Ltd | |
Competitive Landscape
Transparency Market Research has profiled the following players in its global rice bran wax market report: Clariant AG, Croda International Plc., Poth Hille, Arjun Bees Wax Industries, SVROIL, The British Wax Refining Company Ltd., Strahl & Pitsch, Koster Keunen, Chongqing Hecai Chemical Technology Co., Ltd., Huzhou Shuanglin Shengtao Vegetable Fat Factory, Paras Group, and A.F. Suter & Co., Ltd
Key Developments
- Poth Hille is a well-established company specializing in the production and distribution of various types of waxes for different applications, including cosmetic waxes, food-grade waxes, and industrial waxes. They work closely with customers to provide customized solutions and meet specific requirements.
Rice bran wax is a natural by-product of rice milling and is considered a renewable and biodegradable ingredient. The increasing demand for natural and sustainable products drives the growth of the rice bran wax market. Increasing application of rice bran wax in skincare products, lip balms, and creams due to its emollient and moisturizing properties expected to boost the market growth. Increasing awareness among consumers about the benefits and applications of rice bran wax plays a crucial role in driving market growth.
Key Takeaways from the Market Report
- As of 2023, the rice bran wax market is forecast to reach US$436.2million
- By grade, demand for cosmetics grade rice bran wax is rising significantly due to the increasing demand in the cosmetics products
- Based on end-use, the food & beverage segment is expected to account for a significant market share
- Refined rice ban wax type vs application segment is expected to generate high revenue during the forecast period.
Rice Bran Wax Market: Prominent Drivers and Trends
- Increased awareness about the benefits offer by rice bran wax creating opportunities for rice bran wax market growth. Rice bran wax is gaining traction due to the increasing demand in personal care industry
- Increased demand for eco-friendly coatings and increased environmental awareness to boost the demand for rice bran wax.
- Manufacturers in rice bran wax market are focusing on developing special cosmetics product grades to cater to different customer requirements.
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Rice Bran Wax Market: Regional Analysis
- Asia-Pacific is the leading region in the rice bran wax market due to its significant rice production and processing capabilities. The large population, which drives the demand for rice bran wax in various applications, including cosmetics, food, and pharmaceuticals. Presence of well-established rice industry, in countries such as China, India, Thailand, and Vietnam are major contributors to the market as rice bran wax is readily available as a byproduct of rice milling. The region also has a
- North America has a growing market for rice bran wax. The United States is a significant consumer of rice bran wax, primarily in the food industry as a coating and polishing agent. The demand for natural and sustainable ingredients in the cosmetic and personal care industry has also contributed to the market growth in this region.
Rice Bran Wax Market – Segmentation
Grade
- Cosmetic Grade
- Food Grade
- Industrial Grade
- Others
- Type Vs Application
- Refined Rice Bran Wax
- Cosmetic Products
- Coatings
- Shoe Polish
- Packaging (Paper Coating)
- Medicine Coating
- Leather Sizing (Coating)
- Electric Insulation Coating
- Car Interior Coating
- Upholstery Coating
- Others
- Ointments
- Confectionery
- Explosives
- Other
- Crude Rice Bran Wax
- Cosmetic Products
- Coatings
- Shoe Polish
- Packaging (Paper Coating)
- Medicine Coating
- Leather Sizing (Coating)
- Electric Insulation Coating
- Car Interior Coating
- Upholstery Coating
- Others
- Ointments
- Confectionery
- Explosives
- Others
End-use
- Personal Care
- Pharmaceuticals
- Paper and Pulp
- Leather
- Textile
- Food and Beverages
- Electronics
- Defense
- Mining
- Others
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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