The global rice bran oil market sales(쌀겨 오일 시장) is poised for substantial growth, with projections indicating a rise from US$ 7.94 billion in 2023 to US$ 18.95 billion by 2033, reflecting a robust CAGR of 9.09%. This surge is driven by increasing consumer preference for nutrient-dense food ingredients and the endorsement of rice bran oil by health authorities like the World Health Organization (WHO) and the American Heart Association.
Rice bran oil stands out for its health benefits, touted as a healthier alternative due to its balanced fatty acid profile and high antioxidant content. Its versatility extends beyond culinary uses to applications in cosmetics and pharmaceuticals, where it enhances skin protection from UV radiation and promotes hair growth.
The market’s expansion is further propelled by factors such as rapid urbanization, changing lifestyles, and effective promotional strategies that have bolstered its penetration in both developed and emerging markets. Government policies globally have also played a pivotal role by easing restrictions on organic edible oils, stimulating market growth.
Future Growth Drivers
Looking ahead, the market is anticipated to benefit from the growing trend of veganism and increased adoption of eco-friendly culinary ingredients. Rice bran oil’s affordability relative to other vegetable oils positions it favorably among cost-conscious consumers seeking healthier dietary options.
Regional Insights
Asia Pacific, led by major producers like India and China, holds a significant market share owing to abundant rice production and rising consumer awareness. India, in particular, stands out as a key player in rice bran oil production, leveraging its vast agricultural resources to meet both domestic and global demand.
Competitive Landscape
Key players in the rice bran oil market include Adani Wilmar, Marico, and Conagra Foods, among others, who are actively investing in product innovation and strategic partnerships to enhance market presence. These efforts are aimed at meeting evolving consumer preferences for high-quality, organic products backed by stringent quality standards.
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Latest Developments
- The edible oil brand Healthy & Tasty was revived in India by Emami Agrotech Limited in October 2022. Rice bran oil, mustard oil, soybean oil, and other culinary oils are among the available items. Through national advertising campaigns and celebrity endorsements, the corporation is heavily promoting its brand.
- A 5-liter container of physically refined rice bran oil was introduced in India in September 2021 by Gemini Edibles & Fats India Ltd., under the already-established brand Freedom. Through supermarkets and convenience stores, the products are sold in retail throughout the nation. The business focuses on marketing strategies to spread awareness of the advantages of rice bran oil.
- The premium rice bran oil, referred to as Expeller Pressed Rice Bran Oil, was introduced in September 2021 by the Japan-based company TSUNO.
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