North America Rice Bran Oil Market

North America Rice Bran Oil Market Analysis:

North America Rice Bran Oil Market is expected at USD xx.xx million in 2021 and is anticipated to extent an over of USD xx.xx million by the end of the assessment period. The North America Rice Bran Oil Market is estimated to experience reasonable growth to record a CAGR of xx.xx% throughout the estimate period (2022 - 2027).

Rice bran oil is extracted from a layer between the rice husk and the white rice. It is one of the healthiest edible vegetable oils used in various industries such as pharmaceuticals, cosmetics, and food and beverage in various applications. Rice bran oil is very popular all over the world due to its health benefits such as preventing menopausal problems, lowering cholesterol, delaying aging, preventing allergic reactions, improving blood pressure, immunity, etc.

Recent Developments

Kerala-based KPL Oil Mills Ltd launched KPL Sudhi Rice Bran Oil. The product is available in one liter and 500 ml bottles and sachets. According to senior company officials, the demand for rice bran oil is increasing, especially among young people, thanks to their increased awareness of their health. The company has implemented new storage tanks and packaging machines with very strict quality measures to market the product.

Food giant Cargill India said on Tuesday that it has expanded its edible oil portfolio to launch healthy blended cooking oils and is targeting a 10% market share in this high-end segment within two years. Cargill India, part of the large American food company Cargill, is a major player in the country's edible oils and sells cooking oils under the NatureFresh, Gemini, Sweekar, Leonardo olive oil and Rath brands. The company launched "NatureFresh Acti Heart" cooking oil Tuesday, mixed in equal parts with canola oils and rice bran.

Restaurant chain QSR KFC India has announced that it will switch to rice bran oil as a cooking medium in its restaurants starting early next year. The company said the move was part of its efforts to improve the nutritional profile of its foods. KFC is testing this initiative in select restaurants in Hyderabad, Bengaluru, Chennai and New Delhi. The company said it will switch from palm oil to rice bran oil in its restaurants across the country during the first quarter of 2018. The company said the rice bran oil will be sourced locally from Indian oil manufacturers.

Market Drivers and Restraints:

The increasing rate of adoption of rice bran oil by various food manufacturers for the production of various bakery products such as cookies, cakes, biscuits, pizzas and others is a key factor that is expected to drive the growth of the North America Rice Bran Oil Market. In addition, the rapidly expanding cosmetics sector in developed and developing countries, coupled with the increasing adoption of rice bran oil in the cosmetic industry. Increasing consumer awareness of the various health benefits associated with rice bran oil and increased health awareness among people is resulting in increased adoption of rice bran oil in the domestic sector. And the food and beverage industry and other factors are expected to drive the growth of the North America Rice Bran Oil Market during the forecast period. Also, the increasing use of rice bran oil in the personal care industry due to the various skin benefits associated with this oil, such as anti-aging ingredients, reduce pigmentation, reduce wrinkles, remove dandruff, repair blemished and scarred skin, etc. This is another factor that is expected to prolong the growth of the North America Rice Bran Oil Market. The key trend observed in the market at the moment is that manufacturers are focusing on active promotional activities through various media channels such as radio, television, newspapers and others. Increasing advances in rice bran oil production technology by major rice bran oil producers. These are among other factors that are expected to drive the growth of the North America Rice Bran Oil Market in the near future. However, the availability of rice bran oil substitutes such as olive oil and others in the market is a key factor that is expected to hamper the growth of the target North America Rice Bran Oil Market.

Market Segmentation:

The North America Rice Bran Oil Market for rice bran oil is segmented by end user into as industry and direct consumer. According to the distribution channel, the North America Rice Bran Oil Market is divided into online retail, Departmental stores, Supermarkets/Hypermarkets, and Others. By application, North America rice bran oil market is divided into food and beverage, cosmetics, pharmaceuticals and others.

Impact of covid-19 on North America Rice Bran Oil Market

The COVID-19 pandemic has affected many economies around the world. The pandemic has affected more than 100 countries, infecting more than 31,091,469 people and killing 961,352 as of September 21, 2020 (Source: European Center for Disease Prevention and Control). To control the spread of this disease and avoid the serious consequences that arise, governments around the world have announced a partial or total closure, which has had a great impact on the availability of biologicals. Many organic food ingredients consumed by North Americans and Europeans are produced and exported primarily from Asia, Latin America, and Africa. Thus, the transportation restriction has affected the availability of organic food in stores and supermarkets. Furthermore, changes in consumer purchasing behavior due to the uncertainty surrounding the pandemic are expected to have significant consequences for the growth of the industry in the short term. Meanwhile, the deficit and tight cash flow have already affected fleet operators' sales, which are expected to rise further in the coming months.

Regional Analysis:

The market for North America Rice Bran Oil has been categorized on the basis of geography to offer a clear understanding of the market. North America Rice Bran Oil Market has been divided into the United States, Canada, Mexico and rest of North America. North America is expected to grow at the fastest CAGR during the forecast period due to high demand due to increasing health awareness and awareness of product benefits. In addition, large manufacturers are investing more in emerging markets, such as Europe and America, launching new products, which will drive the growth of the industry. In addition, rising consumer disposable income and improving living standards, especially in emerging regions, will boost product sales through online channels.

Leading Company

Cargill Inc. had the largest share of the North America Rice Bran Oil Market in terms of sales revenue in 2021.

Key Players

The North America Rice Bran Oil Market is concentrated with well-established players. Key players in the North America Rice Bran Oil Market include Mexiterra, LLC, Cargill Inc., Riceland Foods, Marico Ltd, and Wanyuan Food & Oil.