The market is changing because more people are becoming health-conscious and products more readily available in the market should meet their needs in keeping their cholesterols level and playing a part of keeping their hearts healthy. Raised consciousness of clean-label ingredients and sustainable production of oil has further conditioned the direction of the market. It serves various uses such as culinary, cosmetics, pharmaceuticals, and nutraceutical.
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Market Drivers
1.Enhancing Functional and Health Property
The increasing consciousness related to cardiovascular health and the functional properties of natural fats make cardiovascular health, the functional properties of natural oils, one of the strong forces that contribute to the success of the Rice Bran Oil market. Oryzanol is a special type of antioxidant that promotes the control of cholesterol present in rice bran oil. With consumers shifting towards oils that are not only nutritious but also flavorful, the benefits of rice bran oil are now being appreciated because it has a healthy balance of fatty acids, high point of smoke and it is hypoallergenic. This has majorly increased its popularity among health-conscious consumers and food specialists.
- Increase in the Demand of Natural and Sustainable Ingredients
The trend towards sustainability has been behind the level of demand in oils that are natural as well as by-products of commonly consumed foods. One of the raw materials sourced which is an eco-friendly raw material source of oils is rice bran, which is a by product of refined rice. This corresponds to international sustainability intentions as well as circular economy serials and rice bran oil becomes one of the favorite solutions among some manufacturers interested in ethical sourcing and waste reduction.
Product Type Segment Analysis: Refined Rice Bran Oil
The Refined Rice Bran Oil category is more dominant in market because of the clarity, stability and long shelf life. It is subjected to a purifying process to eliminate impurities, and wax before it is found suitable in kitchen use during frying, saute and salad dressing. The refined variants contain a neutral taste and exhibit a large smoke point making it more applicable in the commercial foodservice industry as well as at home. Moreover, the increased role of the product in food fortification and actualization of functional foods also add to the growth of the segment.
Application Segment Analysis: Food & Beverages
The Food & Beverages segment remains the leader in the market of rice bran oil, which is caused by increasing health trends and innovations in cooking. Versatility of rice bran oil has seen the oil being incorporated into packaged food, snacks, bakery products, and health supplements. The growing vegetarian and vegan diet has also driven demand of rice bran oil as an alternative dairy and meat product formulation. Its high application in food due to its clean-label draw and acceptable safety profile enhanced its dominance.
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Regional Analysis: North America and Europe
Rice bran oil market in North America is driven by the growth of consumer interest in functional foods, non-GMO products, and clean eating. The heart-health credentials of rice bran oil are further being promoted by retail brands and used in foodservice establishments due to its cooking application and health attributes. Europe has been lacking in regulations on food additives and sustainability in favor of natural and plant-derived oils, such as the rice bran oil.
The western European markets are characterized by consumers who choose high nutritional valued and non-refined oils, and rice bran oil can be a suitable replacement of traditional oils. The product is also being penetrated the eco-conscientious formulas of food and cosmetic through increasing awareness of environmental issues.
What is the best oil alternative for heart health and high-heat cooking?
Rice bran oil is usually believed to be the best oil to use or consume because of its high smoke point alongside its monounsaturated fat and vitamin E content level, which makes it a healthier oil and the recommended alternative to oil. It is good on frying and sauteing and it has nutritional benefits such as antioxidant-rich oryzanol that promotes cardiovascular health. Being tasteless, it is also versatile in several culinary practices and food items.
Competitive Landscape and Industry Players
The global rice bran oil market is moderately fragmented, marked by regional manufacturers and a few multinational players.
Key industry participants include:
- Ricela Health Foods Ltd.
- King Rice Oil Group
- Tsuno Group
- VAIGHAI Agro Products Ltd.
- Marico Limited
- A.P. Refineries Pvt. Ltd.
- BCL Industries Ltd.
Diverse tactics applied by these players include enhancing the capacity of refining, pursuing organic and non-GMO certifications, and working together with foodservice moguls to expand their markets. The creation of cold-pressed rice bran oil and fortified oil products are also on the rise and specifically in the developed markets.
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