The global rice bran oil market size is set to gain traction from its possession of multiple beneficial properties. It has subtle taste, antioxidants, and low-fat content. Fortune Business Insights™ presented this information in an upcoming report, titled, “Rice Bran Oil Market, 2021-2028.” As per the report, the outbreak of the COVID-19 pandemic has compelled people to cook at home. It has also caused an inclination towards health-consciousness to stay fit and healthy. In March 2021, for instance, TSUNO Group, announced that the sales of sesame and rice bran oil surged by 42% in Japan amid the pandemic.
The emergence of the COVID-19 pandemic has shattered the global economy. Hospitals are exhibiting a low number of beds for patients. Until and unless a vaccine is found, we are unable to estimate the timeline up to when this situation would persist. Our research reports will help you in generating more revenues in the rice bran oil industry by choosing the right strategy.
Request A Sample Copy Rice Bran Oil Market Report
Plastic Bottles Segment to Generate Largest Share in the Upcoming Years
By packaging, the market for rice bran oil is trifurcated into glass bottles, pouches, and plastic bottles. Out of these, the plastic bottles segment is expected to earn the largest rice bran oil market share in the near future because of its high prevalence in the packaging of edible vegetable oils. Based on the distribution channel, it is fragmented into online retail, supermarkets/hypermarkets, departmental stores, and others.
The report contains an accurate study of several regions and countries. It was developed by our analysts after evaluating various factors that regulate regional growth, such as political, technological, social, economic, and environmental status of that particular place. The competitive landscape section was developed to help our clients better understand the acquisitions and other strategies that key players are focusing on to strengthen their positions worldwide.
Drivers & Restraints-
Rising Need to Control Cholesterol will Favor Growth
The rising demand for fortified edible oils is expected to propel the rice bran oil market growth in the forecast period. The American Heart Association, for instance, recommends the usage of rice bran oil to keep one’s cholesterol under control. Hence, several cafes, restaurants, and hotels are increasingly adopting this oil for preparing food items.
Moreover, consumers nowadays are becoming more aware of the health benefits of unsaturated fatty acids present in oils. In the foodservice sector, this oil has several applications, such as preparations of frying chips, salad dressings, and sauces. However, compared to other oils, rice bran oil is more expensive. This factor may obstruct growth.
Abundance Availability of Raw Materials to Help Asia Pacific Dominate
At present, Asia Pacific is at the forefront in terms of revenue because of the availability of raw materials in abundance, especially in Vietnam, China, Japan, and India. These countries are also considered to be the leading producers of rice. Additionally, several reputed companies are trying to compete in the region by slashing down prices of their products.
Europe, on the other hand, is projected to showcase significant growth backed by the rising adoption of healthy snacking habits. Also, increasing awareness of health and fitness and informed purchasing decisions of consumers would aid growth. The World Health Organization (WHO), for instance, mentioned that the population of this region often faces cholesterol-related health issues, followed by North America. Therefore, people are shifting towards rice bran oil for preparing food on a regular basis.
Key Players Focus on New Product Launches to Fulfill Unmet Consumer Demand
Renowned manufacturers of edible oil across the globe are striving persistently to keep up with the high demand from consumers. At the same time, they are trying to keep up with the manufacturing standards provided by regulatory bodies. Below are the two latest industry developments:
- March 2021: Targray unveiled its vegetable oils trading desk in It would help the company to meet the high demand for sustainable agricultural commodities. The desk would leverage the company’s in-house expertise and supply chain to gain access to consumers and wholesale suppliers of edible oils in America, Africa, Asia, and Europe.
- June 2020: Sanjay Ghodawat Group introduced ‘STAR Rice Bran Oil under the category of ‘Sehat Ka Superstar’. It contains Omega-6 and MUFA that would lower the chances of suffering from a heart disease.
Have Any Query? Ask Our Expert
Read Related News: