Technavio, a tech-focused market research firm, has published a new report on the global rice bran oil market, which is expected to grow at a CAGR of close to 5% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global rice bran oil market into the following key regions: the Americas, APAC, Europe, and MEA.
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Top three contributors for the global rice bran oil market are elaborated below:
Rice bran oil market in APAC: Increased availability of the raw materials, such as rice, in APAC countries like India, China, Japan, Thailand, and Vietnam is one of the prominent reasons for the highest production of rice bran oil in the region.
According to Manjunath Reddy, a lead analyst at Technavio, specializing in research on food, “Rising heart diseases has led industries and governments to provide support for the development of rice bran oil that aids in maintaining a healthy diet and preventing ailments. Also, companies like Axiom Foods are expanding into India to produce hexane and ethanol-free natural rice bran oil, which will increase the production of rice bran oil in the country. The rise in production is expected to upsurge awareness among consumers during the forecast period.
Rice bran oil market in the Americas: The Americas is moving toward healthy oils owing to the increase in demand for healthy food among consumers. Olive oil is considered as a healthy oil among consumers; it is, however, high-priced and many consumers cannot afford it. Thus, rice bran oil suppliers are utilizing this opportunity and are positioning rice bran oil as healthy and affordable to attract masses.
Rice bran oil market in Europe: Rice bran oil has recently gained popularity among European consumers owing to its health benefits and for its flavor and versatility. Moreover, consumers have become increasingly price-sensitive, mainly because of Brexit, which has reduced their purchasing power and lowered their confidence. Due to the shifting patterns, more consumers are switching to moderate-priced products, which is expected to attract consumers towards rice bran oil during the forecast period.
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The top vendors operating in the global rice bran oil market are:
- A.P. Refinery
- Ricela Health Foods
- Sethia Oils
- Thai Edible Oil
Other prominent vendors in the market include Adani Wilmar, Advanced Chemical Industries, Emami Agrotech, GEF India, Hansells, InterNatural Foods, Kamolkij Group of Companies, Marico, Mother Dairy Fruit & Vegetable, Riceland Foods, Ruchi Soya Industries, Surin Bran Oil, TARA HEALTH FOODS, and Vimal Oil & Foods.
A more detailed analysis is available in the Technavio market research report titled, ‘Global Rice Bran Oil Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Virgin Coconut Oil Market 2017-2021
- Global Vegetable Oil Market 2016-2020
- Global Face Oils Market 2016-2020
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