Rice Bran Oil Market Size (2024 - 2029)

Rice Bran Oil Market Analysis

The Rice Bran Oil Market size is estimated at 532.67 Million liters in 2024, and is expected to reach 714.18 Million liters by 2029, growing at a CAGR of 6.04% during the forecast period (2024-2029).

The rice bran oil market is driven by rising consumer health consciousness and high demand for nutritional and fat-free food and beverages owing to its mild flavor, neutral taste, and rich nutrient content. Rice bran oil is extensively used in culinary activities across most Asia-Pacific cuisine. These factors propel the sales of edible oils in the market. For instance, According to Agriculture and Afri Food Canada, the retail sales value of edible oils in China is estimated to be USD 15.48 million in 2021. In recent times, organic rice bran oil has gained popularity among retail consumers as it comes with no artificially added ingredients and imparts a natural taste to the recipe. Other factors responsible for the market's growth include numerous application areas, aggressive promotional campaigns by manufacturers, and high penetration in developed and emerging markets.

Regulatory bodies favoring the consumption of rice bran oil have further boosted the market growth. For instance, the World Health Organization (WHO) and the American Heart Association have approved the use of rice bran oil, stating that its monounsaturated, polyunsaturated, and saturated fats composition is much safer than the composition of most other vegetable oils. These regulation has facilitated the manufacturers in the market to increase their offerings in the retail market to attract consumers. Supermarkets/hypermarkets and convenience stores play an essential role in the distribution of rice bran oil, as they are extensively retailed in these retail establishments, which the consumers frequently visit in the market.

Rice Bran Oil Industry Segmentation

Rice bran oil is prepared by extracting oil from the chaff of the rice. This oil has a high smoke point, making it useful for cooking at high temperatures and a very mild flavor. The rice bran oil market is segmented by category, distribution channel, and geography. By category, the market is segmented into organic and conventional. Based on the distribution channel, the market is segmented into hypermarkets/supermarkets, convenience stores, online retail stores, and other distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, the Middle East, and Africa. For each segment, the market sizing and forecasts have been done based on value (in USD million).