The rice bran oil market is anticipated to show significant growth by 2022. Factors such as growing population, rapid urbanization, and changing lifestyle of consumers across the world can propel the market during the forecast period (2012 to 2022). Additionally, increasing health consciousness among the consumers, and several cooking benefits offered as compared to other edible oils can have positive impact on the market.
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Increasing demand for high nutrition and food and beverages containing low fat is likely to drive the product demand in the coming years. The oil can be used to drop cholesterol levels, reduce cancer risk, improve nervous system, boost immunity, and to combat gastrointestinal disorders. In addition, this oil offers mild taste better texture, and can be easily mixed with other less stable oils. Rising usage of the oil in food and nutrition industry as well as personal care and cosmetic sector can have positive impact on the market. Moreover, rising use of this oil for feeding high-performance horses is expected to boost the market during the forecast period. Addition of small portion of grain with rice brain oil can help to reduce the cecalload on digestive tract of horses, which helps to reduce the amount of heat generated in the horse’s hindgut.
However, less acceptance of the oil among the individuals as compared to other healthy edible oil can restrain the market growth. Worldwide bran oil market can be segmented on the basis of product, application, and region. Based on application, the market can be bifurcated intomade by extraction and made by squeezing. Based on application, the market can be classified into food, cosmetic, and industry. Geographically, the market can be divided into North America, Europe, China, Southeast Asia, India, and Japan.
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North America is likely to capture the largest market share in the coming years due to increasing demand for healthy edible oil and high prevalence of lifestyle diseases in this region. Europe is expected to show significant growth due to growing health awareness among the consumers across the region. Several countries such as China, Japan, and India are expected to expand the market due to easy availability of raw material, especially in India. In addition, India is considered as the world’s most important producer followed by China and Japan. In addition, increasing number of edible oil brands selling this oil along with growing awareness among the people is expected to drive the product demand in these countries.
Some of the leading companies operating in the rice bran oil market include A.P. Refinery, King Rice Oil Group, Jain Group of Industries, Oryza Oil & Fat Chemical, and Agrotech International. Major players in the market are increasingly focusing on collaborating with rice bran suppliers and production of gluten-free and organic products to increase their share in the market.
For instance, Clariant, provider of specialty chemicals has recently launched the range of high performance waxesLicocare RBW 300 TP and Licocare RBW 102 TP. These products are based on renewable raw materials. Licocare RBW multi-purpose additives are made up of crude rice bran wax. This is a by-product obtained from the production of rice bran oil. These products can be used in epoxy molded components and engineering thermoplastics. They can also be used in other applications such as agriculture, personal care, coatings, and home.
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