Rice bran oil (RBO), an increasingly preferred alternative over regular edible oils available on the market, continues to represent a sizeable global market on the back of its solid nutritional profile. Enriched with vitamin E, and natural antioxidants, rice bran oil is especially being a recommended one owing to its balanced fatty acid content. A new ongoing study of Fairfield Market Research offers an extensive analysis of the global rice bran oil market to further provide its growth forecast for a stipulated assessment period (2021 – 2025). Besides its application by consumers in their diet, RBO has been gaining ground in the pharmaceuticals, and cosmetics industries over the past decade, which marks an important trend supporting the market growth, says the report.
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Food, Pharma, and Cosmetics Companies Realise Benefits of Rice Bran Oil
An expanding health-conscious population is working to the advantage of rice bran oil market. While the low-cholesterol low-fat low-calorie trend among consumers has been favouring the demand for rice bran oil, its nutraceutical attributes will remain instrumental to its growing consumption by pharma players from across the globe. A measurable chunk of population believes in the finding that preparations made in rice bran oil tend to absorb much lesser oil that that by regular oil varieties, which sustains its demand in local markets. On the other side, research findings also suggest that RBO can be potentially effective against gastrointestinal conditions, allergic reactions, and even Alzheimer’s.
Consumption of rice bran oil as an immunity booster is also on the rise recently, which is again a strong factor fostering the growth of the rice bran oil market. With growing preference for natural ingredients in cosmetic products, rice bran oil manufacturers are discovering multiple windows of opportunities in the various segments such as skincare, hair care, anti-ageing, lip care, and other product categories. The bakery sector is extensively utilising rice bran oil for production of several baked goods, sauces and dressings, shortenings, mayonnaise, margarine, and non-dairy creamers. The food industry will thus remain a prime consumer segment in the rice bran oil market. Online sales are likely to remain prominent, says the report.
India Uplifts Global Positioning of Asia Pacific as a Top Rice Bran Oil Market
Some of the world’s largest producers and exporters of rice bran oil are the Asian economies, including India, Japan, China, Vietnam, and Thailand. India however holds an exceptional untapped potential for the market growth as the country has rice as one of its top cereal crops. Moreover, some of the governments in India (the latest, Odisha) has been offering subsidiary benefits to rice bran oil manufacturers, which is supporting the growth of market within the region.
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Brands Focused on Expansion and New Launches
The report profiles some of the most prominent participants in the global rice bran oil market, including Cargill Incorporated, Adani Wilmar Limited, Ricela Group, AP Refinery Pvt. Ltd., IB Group, CALOFIC, TSUNO Group, Kasisuri Co., Ltd., Mother Dairy Fruits & Vegetables Pvt Ltd (Dhara), and King Rice Oil Group. Looking at a heavy influx of opportunities in Asia Pacific, many companies are considering expansion in Asian markets. Recently in 2018, Wilmar International’s Arawana stepped into Japanese market, where RBO is popularly referred to as the heart oil, with the first launch in supermarket category. The company has plans to establish partnerships with over 10,000 supermarkets in Osaka, and Tokyo. The same year, a new RBO variety was launched under Cargill’s Gemini across multiple Indian states.
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