Rice Bran Oil Market was valued at USD 5,273.6 million in 2021 and is poised to grow at a significant CAGR of 5.1% over 2022–2028. The growing awareness of the different health benefits of rice bran oil has increased its use. At the same time, as demand for low-fat and high-nutrition foods and beverages grows, so does the market expansion. The World Health Organization (WHO) and the American Heart Association have recommended using rice bran oil, claiming that the composition of monounsaturated, polyunsaturated, and saturated fats in rice bran oil is significantly safer than most other vegetable oils. This oil has become a popular ingredient in soaps, moisturizers, lotions, and hair care products in the cosmetics and pharmaceutical industries because of its ability to stimulate hair growth, protect the skin from UV radiation, and fight age. The top market companies have made research investments and understand the product’s potential in exploring the market. For example, Liquid Gold offers a premium rice bran oil hair skin care moisturizer massage that can be used as a moisturizer and massage oil. Mergers and acquisitions between rice bran oil market competitors and their suppliers, as well as significant investment in the food industry, are some of the reasons driving the worldwide rice bran oil market. Collaboration with rice bran suppliers and supplying organic and gluten-free products in the market are all ways for companies in the rice bran oil market to grow their market share. The usage of rice bran oil in the food and beverage industry has integrated the growing trend of promoting safe and healthier eating habits.
Recent Market Developments:
For instance, in 2021, Ministry of Consumer Affairs, Government of India launched fortified rice bran oil in India. This rice brand oil was marketed under the apex Agri-marketing organization of India, National Agricultural Cooperative Marketing Federation of India Ltd (NAFED).
In 2021, Gemini Edibles & Fats India Ltd launched new 5 liter jar of physically refined rice bran oil under the existing brand, Freedom in India. The company implements different advertising techniques to let people know the benefits of rice bran oil.