The global rice bran oil market size is anticipated to reach USD 5.12 billion by 2025, according to a new report by Grand View Research, Inc. 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.
The food & beverage held the largest market share of more than 55% in 2018 and will retain the dominant position 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% form 2019 to 2025.
In 2018, the 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. Popularity of e-commerce sites and rising number of manufacturers establishing their own websites are driving the growth of this segment. Asia Pacific was the largest regional market in 2018 owing to the high product consumption in countries, such as India, China, and Japan.
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Further key findings from the study suggest:
• The online distribution channel segment is projected to register the fastest CAGR over the forecast period
• Nutraceutical application is estimated to be the fastest-growing segment at a CAGR of 5.01% from 2019 to 2025
• 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.
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
• Nutraceutical
• Animal Feed
• Others
Rice Bran Oil Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
• Offline
• Online
Rice Bran Oil Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
o U.S.
• Europe
o Germany
o U.K.
• Asia Pacific
o China
o India
• Central & South America
o Brazil
• Middle East & Africa
o South Africa