The market study covers the present scenario and growth prospects of the global rice bran oil market for 2017-2021. The report also segments the market based on type into organic rice bran oil and non-organic rice bran oil, of which the non-organic rice bran oil segment accounted for almost 93% of the market share in 2016.
According to Manjunath Reddy, a lead analyst at Technavio for food research, “Rice bran oil is expected to gain popularity among consumers as the oil is recommended by the World Health Organization and American Heart Association, for its balanced fatty acid profile. Thus, the rice bran oil market presents significant potential for overall market growth both in terms of volume and value, as consumers are increasingly looking out for edible oils that are nutritious and have antioxidant content.”
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Technavio food and beverage analysts highlight the following three market drivers that are contributing to the growth of the global rice bran oil market:
- Health benefits of rice bran oil
- High smoke point and balance of fatty acids
- Competitive prices and longer shelf life
Health benefits of rice bran oil
There are numerous health benefits associated with rice bran oil. Cholesterol issues are becoming common among consumers, which often increase the risk of heart diseases and stroke. The cholesterol-lowering property of rice oil is becoming popular among consumers as the balance of fatty acids in the oil helps in lowering cholesterol levels.
Rice bran oil is a good source of tocopherols and tocotrienols (vitamin E). These elements are powerful antioxidants and are anti-mutagenic in nature, so it helps to build immunity and reduce the risk of cancer caused by free radicals.
Various cosmetic brands are using rice bran oil in different products as it improves the overall health of the skin. Rice bran oil is rich in vitamin E and fatty acids, which helps it to penetrate and nourish the skin from within and retain moisture, thus making the skin softer and smoother.
High smoke point and balance of fatty acids
The high smoke point of rice bran oil prevents fatty acid breakdown at high temperatures, and thus it is used for sautéing, pan frying, deep frying, stir-frying, and baking. Also, this oil is one of the most balanced and versatile oils in the market. This is because its fatty acids (saturated fatty acids (SAFA), monounsaturated fatty acids (MUFA), and polyunsaturated fatty acids (PUFA)) ratio is nearest to the recommended ratio by WHO and American Heart Association. Thus, it is likely that these features of rice bran oil will increase its popularity during the forecast period.
Competitive prices and longer shelf life
The price of rice bran oil is lower when compared to other premium oils like such as olive oil, making it a better choice for consumers looking for oils with greater nutritional benefits at a moderate price. Therefore, rice bran oil players are positioning it between the expensive olive oil and the conventional oils.
“While buying any cooking product, consumers usually pay attention to the shelf life of the product. Rice bran oil is attracting consumers due to its longer shelf life of 1-2 years as compared to conventional cooking oils such as high oleic sunflower oil which has a shelf life that ranges between 3-6 months,” says Manjunath.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
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