Rice Bran Oil Market is growing at a CAGR of 3.44% for the duration of the forecast

Market Slingshot:

The scope of the global Rice Bran Oil Market was appreciated at US$ 4.04 billion in 2018. The range is projected to touch US$ 5.12 billion by 2025, growing at a CAGR of 3.44% for the duration of the forecast.

This is attributed to an ever-increasing health consciousness regarding edible oils to lessen the levels of cholesterol. The present scenario is such that rice bran oil is being promoted as one of the premium products with it being a proven anti-oxidant. Moreover, it is cheaper in comparison with olive oil. Besides, the shelf life of rice bran oil is more than sunflower oil due to the fact that it has an optimal balance of PUFA and MUFA.

Market Scope:

The American Heart Association and World Health Organization (WHO) have given a nod to propagation of rice bran oil. This factor is expected to bolster the rice bran oil market. Plus, this oil is one of the ingredients of biscuits, pizza, cookies, and cakes. The ratio is up to 20%. This adds to the taste along with simplifying chewing of bakery products.

Regional Insights:

The Asian economies are home to abundant rice as a raw material to rice bran oil. This shows that Vietnam, Thailand, Japan, China, and India would be the torchbearers in terms of exporting rice bran oil in the upcoming period. Formation of International Council of Rice Bran Oil (ICRBO) in 2013 has given an impetus to uniformity in commerce & trade among member economies and also improving communication amongst the manufacturers, academic researchers, and local governments. It is also working toward sponsoring training programs for members involved in technical development and work.

A positive development with India is that its SEA (Solvent Extractors Association) is on ICRBO board to promote rice bran oil in different parts of India as one of the richest sources of vitamin E coupled with high oryzonal content.

Miscellaneous:

Personal care & cosmetics are also boosting the rice bran oil industry. Oryzol provides protection against UV light and finds its presence in sunscreen lotions. Ferulic acid therein aids in catalyzing hair growth and averts aging. In the U.S. and Japan, bath soaps also have rice bran oil as an ingredient.

Market Segmentation & Players:

The global rice bran oil market is segmented based on geography into the U.S., Russia, South Africa, UAE, Saudi Arabia, Mexico, Brazil, South Korea, Japan, India, China, Italy, and U.K. The players contributing to the market include BCL Industries & Infrastructure, Sethia and A.P. Refineries Pvt. Ltd., 3F Industries Ltd., and Ricela Health Foods.

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Saffron Market is expected to grow at a CAGR of 12.0% by 2025

The global Saffron Market is expected to grow at a CAGR of 12.0% by 2025; thereby crossing USD 2 billion within the specified timeframe. Saffron is grown in Mediterranean environment having cool to chilly winters with warm and dry summers followed by little or no rainfall. It even withstands -100C and could be grown in chilly winters. The cultivation is highly dependent on corn size and density and planted in summers. Corn size leaves a significant impact on production of new offspring, hence larger the corn, larger is the daughter corn that particularly raises the potential for higher yield in following years.

Saffron market is driven by factors such as increase in demand from medical and cosmetic sector on accounts of its popularity and usage as a health supplement. Rise in popularity of saffron use in cosmetics adds to the market growth. Saffron is significantly used in treatment of asthma, dry skin, and whooping cough, which again marks its commercial importance.

The saffron industry is segmented on the basis of application such as food, cosmetics, and medical. Food accounts as a large segment contributing to the market growth. It is largely used as a food ingredient in dairy and confectionary industry to add essence to the taste of food. On the other hand, widening scope of food sector is likely to open new horizons for use of saffron in food.

“Medical” segment is expected to gain a substantial share in the market growth due to significant effects of saffron for dry skin and cough. “Cosmetic” segment will demonstrate a rise in CAGR due to increase in use of saffron for in face gels, for stretch marks, and also as an anticonvulsant gel.

Geographical analysis for saffron market includes North America, Latin America, Europe, Asia-Pacific, Middle East & Africa. Asia-Pacific’s saffron industry dominates the global scenario due to rise in saffron production, import and export, and growth in consumer demand. North American and European markets are expected to gain a significant CAGR in the forecast period due to increase in use of saffron for medical and cosmetics. Prominent players in the saffron market include Gohar Saffron, Rowhani Saffron Co, Iran Saffron Company and Saffron Business Co.

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