The global rice bran derivatives market size is expected to reach USD 10.1 billion by 2030, expanding at a CAGR of 5.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. growing consumer preference for plant-based foods globally, and increasing demand for alternative proteins ingredients in various end-use industries, are the major factors driving the market growth.
Rice Bran Derivatives Market Report Highlights
- Rice bran oil held the largest market share in 2022 owing to its ease of availability, and its high nutritional properties.
- The food and beverage segment emerged as the largest application segment with the highest revenue share in 2022 owing to rising demand for plant-based ingredients among consumers.
- Pharmaceuticals & Nutraceuticals in the application segment is expected to expand at a significant CAGR from 2023-2030. The growth can be attributed to rising consumer demand for dietary supplements among consumers globally.
- Asia Pacific is estimated to grow significantly over the forecast period owing to various developments in healthcare and cosmetic sectors in developing countries in the region.
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Consumers are becoming more aware of the health benefits of a balanced diet and are increasingly looking for functional foods that can support their health goals. Rice bran derivatives are rich in nutrients such as fiber, vitamins, and antioxidants, which are associated with a range of health benefits. For example, rice bran is high in dietary fiber, which can promote digestive health and help lower cholesterol levels. Additionally, rice bran is rich in vitamins B and E, which can help support immune function and protect against oxidative stress.
In addition, the rising demand for the animal feed industry globally is also encouraging the demand for rice bran derivatives. It is a by-product of the rice milling process and is used as a high-quality ingredient in animal feed due to its high protein content, which can help promote animal growth and health. Rice bran is also a good source of energy important for livestock production.
Also, the demand for gluten-free products is increasing due to the growing prevalence of celiac disease and gluten sensitivity. Rice bran derivatives are gluten-free and can be used as a substitute for wheat-based ingredients in many food products. For example, rice bran can be used to make gluten-free bread, pasta, and baked goods that have similar texture and flavor profiles as wheat-based products. This makes rice bran derivatives a popular ingredient in the gluten-free food market. Germany-based Beneo GmBH offers RemyLiVE shelf stable rice bran which helps in adding dietary fiber in gluten-free baked goods.
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Asia Pacific is anticipated to grow at a substantial CAGR from 2023-2030 due to an increase in the consumption of healthy food products. Rice is a staple food in many Asian countries, and as a result, there is a large amount of rice bran available as a byproduct of rice milling. This makes rice bran derivatives a cost-effective and readily available source of nutrition and functional ingredients for food, feed, and other industrial applications,
In addition, the food and beverage industry in Asia Pacific is experiencing rapid growth and is looking for new, innovative ingredients to improve the nutritional profile and functional properties of their products. Rice bran derivatives offer a range of functional benefits, such as improved texture, shelf-life, and stability, making them an attractive option for food and beverage manufacturers in the region.
Segmented the global rice bran derivatives market based on product, application, and region
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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