Rice Bran Oil Market Outlook – Growth, Demand, and Future Potential

When it comes to cooking oils, people are becoming more health-conscious than ever. Among many options, rice bran oil is gaining huge attention for its health benefits, versatility, and growing demand across the world. Let’s explore why this oil is becoming so popular and how the market is shaping up.

Rice Bran Oil Market Growth at a Glance

• The global rice bran oil market was worth USD 7.86 billion in 2023.

• It is expected to reach USD 8.55 billion in 2024.

• By 2032, the market could almost double, crossing USD 18.35 billion.

• The growth rate is strong, with a CAGR of 10.02% between 2024 and 2032.

In simple words: the market is booming, and demand will keep rising steadily in the coming years.

Why is Rice Bran Oil Becoming Popular?

1. Health Benefits: Rice bran oil is rich in antioxidants, vitamins, and nutrients. It is considered heart-friendly and suitable for high-temperature cooking because of its high smoke point.

2. Versatility:

   • Commonly used as a cooking oil for daily meals

   • Ingredient in cosmetics and skincare products due to its moisturizing properties

   • Used in pharmaceuticals and food supplements

3. Lifestyle Changes: With the rise of vegan, plant-based, and health-focused diets, people are looking for natural and nutritious alternatives. Rice bran oil fits perfectly.

Global Demand: Who’s Leading?

• Asia-Pacific: Dominates the market with nearly 82% share in 2023 because of high rice production and wide use in cooking.

• India: Strong demand due to government programs promoting fortified oils.

• China and Japan: Growing interest in clean-label and natural oils.

• United States: Expected to grow steadily, crossing USD 1.14 billion by 2032.

Market Segments

• Refined Rice Bran Oil: Leads the market as it is widely used for cooking and health-conscious diets.

• Other Uses: Increasing demand in cosmetics, pharmaceuticals, and processed foods.

Challenges Ahead

• Competition: Oils like sunflower and olive oil are strong competitors.

• Supply Risks: Heavy rains or poor rice production can impact availability.

• Technology Gap: Advanced extraction methods are not widely available everywhere, which affects efficiency.

Summary

The rice bran oil market is growing steadily because of its health benefits, high cooking temperature suitability, and use in cosmetics. Asia Pacific leads the market, but growth is expected globally as more people learn about its advantages. However, competition from other oils and lack of awareness in some regions could slow its progress.

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