Description
As per the Wise Guy Report, in the forecast period, the worldwide rice branch oil market is expected to expand at a constant pace, posting a CAGR of more than 5 percent. The rising buy speed for high-performance horses of rice bran oil will drive the growth opportunities for the worldwide rice bran oil industry until the end of 2021. Rice bran oil is an edible vegetable oil obtained from the brown rice exterior layer. It is rich in vitamin E, antioxidants, and natural bioactive phytoceuticals such as oryzanol, tocopherols, tocotrienols, and lecithin, characterized by a mild flavor and neutral taste. It is extremely versatile and texture-light, provides sensitive flavors, is appropriate for cooking at high temperatures, and can be readily mixed with other less stable oils.
According to the report, increasing consumer health awareness and strong demand for dietary and fat-free food and drinks drive the worldwide rice bran oil market. The main drivers for the rice bran oil industry are its advantages, including antioxidant, low cholesterol, and menopause relief, which drives its market growth. However, in comparison with other healthy edible oil, less popularity of rice bran oil among individuals is anticipated to curb demand for the worldwide rice bran oil market. Other main variables contributing to market growth include fast urbanization, inflation of disposable incomes, changing lifestyles, aggressive manufacturing promotions, and increased penetration in both advanced and emerging markets.
In addition, rice bran oil has been endorsed by the World Health Organization (WHO) and the American Heart Association, saying that its composition of monounsaturated, polyunsaturated, and saturated fats is much safer compared to most other vegetable oils. Since this oil includes oryzanol that stimulates hair development, protects the skin against UV rays and prevents aging, it has appeared as an essential component of soaps, moisturizers, lotions and hair care products in the cosmetics and pharmaceutical industries.
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The major players profiled in this report include: Ricela, SVROil, California Rice Oil Co, BON VITAL, SHERY WEST LIMITED
Based on implementation and end-user, rice bran oil is segmented in the report. Global rice branch oil market can be classified as industry and direct customer based on end-user. The report covers the distribution channel (hypermarkets and supermarkets, convenience stores, specialty food and drink shops and others), type (organic rice bran oil and non-organic rice bran oil) and geography (Americas, APAC, MEA and Europe) also present a extensive assessment of this market. The report was prepared with input from sector specialists based on an in-depth market analysis. In the coming years, the study includes the business landscape and its opportunities for development. A discussion of main suppliers working in this industry is also included in the study.
As per the report, due to increased demand for good edible oil, North America dominates the worldwide rice branch oil industry. Europe is anticipated to grow on the market for rice branch oil due to increased consumer knowledge of health across areas. Asia-Pacific accounts for a relatively high volume share and is expected to grow at a significant rate on the global rice branch oil market due to easy raw material availability across the region, especially in India. Geographically speaking, India is the largest producer in the world, accounting for most of the total global output. China and Japan follow India. The study also includes some of this market’s significant players.
The report suggests that in the next few years, hypermarkets & supermarkets will continue to dominate the market. Since these shops are fitted with multiple options and vegetable oils varieties from different brands, customers progressively prefer to buy from these shops. For the next four years, the section of non-organic rice bran oil may continue to dominate the market. The general popularity of non-organic rice bran oil and increasing awareness of this oil are some of the main variables responsible for the development of the market segment.
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