According to a report, “Rice Bran Oil Market Size, Share & Trends Analysis Report By Application (Food & Beverage, Nutraceutical, Animal Feed), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc., the global rice bran oil market size is anticipated to reach USD 5.12 billion by 2025. The global market is estimated to expand at a CAGR of 3.44% from 2019 to 2025. This growth is attributed to rising awareness about the health benefits of rice bran oil. Moreover, high product demand as a result of increased health consciousness and consumption of fat-free and nutritious food products will boost the growth further.
Market is divided into several segments and on the basis of applications, food & beverage held the largest market share of more than 55% in 2018 and is expected to retain the same momentum throughout the forecast years. This is owing to rising usage of rice bran oil in various food and beverage products. On the other hand, the nutraceutical application segment is expected to witness the fastest CAGR of 5.01% from 2019 to 2025. In addition to this, when it comes to distribution channels, offline distribution channel accounted for the largest market share. The online segment, however, is forecasted to expand at the highest CAGR of 5.59% over the forecast period.
Rice Bran Oil Market Report Highlights
• Mergers and acquisitions form a crucial part of the market expansion strategy of the key players. For instance, in September 2020, IFFCO successfully acquired 3F Fuji Foods, India, from Fuji Oil Group “A Japanese company specialized in vegetable oils and fats, industrial chocolate and emulsified products” and their Indian partner 3F Industries
• COVID-19 pandemic has caused an enormous jump in the health consciousness among people, leading to better market prospects and higher demand in the upcoming years.
• Based on distribution channel, the online distribution channel segment is projected to register the fastest CAGR over the forecast period
• Based on applications, nutraceutical application is estimated to be the fastest-growing segment at a CAGR of 5.01% from 2019 to 2025
• Based on region, Asia Pacific accounts for the highest market share of the global rice bran oil market; while North America is projected to register the maximum growth rate during the forecast years
• Some of the key companies are Ricela Health Foods, BCL Industries & Infrastructure, 3F Industries Ltd., Sethia and A.P. Refineries Pvt. Ltd., Maheshwari Solvent, Malar Solvent, Modi Naturals Ltd., Harwin Agro Enterprises, Vaighai Agro Products Ltd., Adani Wilmar, Marico Ltd., ITC Ltd., and N.K. Proteins Ltd.
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Rice Bran Oil Market Segmentation
Grand View Research has segmented the global rice bran oil market on the basis of application, distribution channel, and region:
Rice Bran Oil Application Outlook (Revenue, USD Million, 2015 – 2025)
• Food & Beverage
• Animal Feed
Rice Bran Oil Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)
Rice Bran Oil Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• The U.K.
• Asia Pacific
• Central and South America
• Middle East & Africa
• South Africa
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About Grand View Research
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