The global rice bran derivatives market was valued at USD 6.55 billion in 2022 and is expected to reach USD 10.1 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.6% from 2023 to 2030. The market growth is driven by the increasing adoption of rice bran derivatives in food and beverage applications as healthier alternatives to conventional oils and fats.
Additionally, the perceived health benefits of rice bran oil are driving market demand. The COVID-19 pandemic positively impacted the market due to a surge in consumers seeking healthier alternatives. The pandemic also underscored the importance of maintaining a nutritious diet, thereby increasing the demand for healthy oils. For instance, in 2021, a survey by TSUNO Group, a Japan-based provider of rice bran oil, reported that household usage of rice bran oil increased by 42% during the pandemic due to health concerns.
Growing awareness of the risk of heart disease, diabetes, and stroke associated with trans-fat consumption is also encouraging the use of rice bran derivatives. Among these, rice bran oil is the most popular derivative, with demand steadily increasing due to its health benefits. It is rich in antioxidants, vitamin E, and other essential nutrients, making it a healthier alternative to other vegetable oils.
Advances in processing and extraction technologies have further improved the quality and efficiency of rice bran derivatives production. For example, supercritical CO2 extraction enables the production of high-quality rice bran oil with minimal solvent residue. In May 2022, RiceBran Technologies (U.S.) announced the expansion of its Minnesota facility, aiming to double the capacity of its pearling mill to meet the growing demand for rice and other ancient grains.
Key Market Highlights:
- Asia Pacific led the market, accounting for over 64% of global revenue in 2022.
- By product, the rice bran oil segment dominated, holding over 74% of total revenue.
- By application, the food & beverage segment accounted for the largest share at 44.4%.
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Market Performance:
- 2022 Market Size: USD 6.55 Billion
- 2030 Projected Market Size: USD 10.1 Billion
- CAGR (2023-2030): 5.6%
- Asia Pacific: Largest market in 2022
Prominent Companies & Market Dynamics:
The global rice bran derivatives market is highly competitive, with several players operating across the industry. In response to changing consumer trends, companies are expanding their product portfolios to gain a competitive edge. Key players include Riceland Foods, Inc., Wilmar International Limited, Archer Daniels Midland Company, BCL Industries & Infrastructure Ltd., A.P. Refinery Pvt. Ltd., and Agrotech International Ltd.
Manufacturers are increasingly investing in R&D activities to develop products for rice bran derivative production. They are also expanding production capacities to meet rising demand. For instance, in November 2021, Archer Daniels Midland acquired Sojaprotein, a provider of non-GMO ingredients, significantly enhancing its alternative protein capabilities and reinforcing its ability to serve the growing plant-based food and beverage sector.
Key Companies:
- Riceland Foods, Inc.
- Wilmar International Ltd.
- Archer Daniels Midland Company
- BCL Industries & Infrastructure Ltd.
- A.P. Refinery Pvt. Ltd.
- Agrotech International Ltd.
- RiceBran Technologies
- Golden Grain Group Limited
- Agro Tech Foods Ltd.
- Kaisuri Co., Ltd
- Maharashtra Solvent Extraction (P) Ltd.
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Conclusion:
The global rice bran derivatives market is poised for sustained growth, driven by health-conscious consumer trends, technological advancements in production, and strategic expansions by key market players.
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