South Korea Rice Bran Oil Market Report and Forecast 2024-2032

South Korea Rice Bran Oil Market Outlook

The South Korea rice bran oil market size reached a volume of more than 86.07 KMT in 2023. The South Korea rice bran oil industry is expected to grow at a CAGR of 2.1% between 2024 and 2032, reaching a value of 101.60 KMT by 2032.

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Key Trends in the South Korea Rice Bran Oil Market

Rice bran oil is extracted from the external layer or the outer covering of the brown rice. It is also referred to as rice bran extract. It is known to have a mild flavour and a high smoking point of 450 °F or 232 °C, which makes it suitable for high-temperature cooking techniques such as deep frying and stir-frying. Unrefined rice bran oil is utilised as salad dressings and other applications because of its sweet nutty taste.

Numerous Health Benefits  of Rice Bran Oil is Boosting its Demand in The Market

The nutritional composition of rice bran oil is somewhat similar to that of peanut oil, with a perfect balance of monounsaturated and polyunsaturated fats. It is made from an amalgamation of triterpene esters of ferulic acids and stearyls and also has tocotrienols and tocopherols, which together are referred to as vitamin E. According to several research studies, rice bran oil is good for the skin, prevents heart diseases and several types of cancer , and also works as an immunity booster. Moreover, it is hypoallergenic in nature, thus preventing allergies as well as calming allergic reactions. These health benefits create high demand in the rice bran oil market of South Korea.

Wide Applications of Rice Bran Oil in Cooking and Cosmetics Industries Makes it One of the Fastest Growing Vegetable Oils in South Korea Tice Bran Oil Market

Rice bran oil is widely used for cooking because of its pleasant aroma and mild taste, it is especially used in deep frying, grilling, stir-frying, and sauteing, among others. Apart from cooking rice bran oil is also frequently used in skin care formulations such as face oils, moisturisers, and massage oils, as it contains antioxidants that protect against UV damage from ultraviolet radiation and lessen wrinkles and other symptoms of ageing. All around Asia, rice bran oil and other rice derivatives are utilised in cosmetics. It is an essential component of Asian beauty regimens for skin lightening and brightening. Therefore, it has become a crucial ingredient in the pharmaceutical and cosmetics sectors. The market is also being driven by other important factors, such as improved marketing by manufacturers, rising disposable incomes, and shifting lifestyles, among others. The varied application makes it a high-demand product in various industries, thereby booming the growth of the South Korea rice bran oil market.

Rice Bran Oil Emerging as a Potential Safer Alternate of Petroleum-Based Mineral Cutting Oils

Mineral cutting oils, which are frequently a by-product of crude oil refinement, can cause skin conditions such as rashes, skin irritations, irritation of the eyes,  acne, nose, and throat, as well as respiratory symptoms like coughing, asthma, and other breathing problems. Cutting oil is difficult to safely dispose of since it is insoluble and can contaminate the soil. Rice bran oil has the potential to take the place of petroleum-based lubricants  that are now used to cool and lubricate lathes and other cutting equipment. It has been discovered that adding herbal oils as additives enhances the 'green' cutting fluid's corrosive stability, emulsion stability, oxidative stability, and tribological qualities in comparison to commercially available cutting fluid.

Market Analysis

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Based on type, the South Korea rice bran oil market is segmented into refined and non-refined. On the basis of application, the rice bran oil market of South Korea is divided into food processing, pharmaceuticals, and cosmetics, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the South Korea rice bran oil market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans. 

• Cargill Incorporated

• Ricela Health Foods

• King Rice Oil Group

• Others

Market Share by Type

A sustainable oil with a wide range of applications in the health and wellness sector, rice bran oil is essentially an upcycled rice industry waste product. The rising production of rice and increased awareness regarding health benefits have been providing impetus to the rice bran market growth in South Korea. The availability of rice bran oil at competitive prices increases its demand and also compels manufacturers to extract more oil. Both refined and unrefined rice bran oil is anticipated to perform well in the market during the given forecast period. Other factors such as high disposable income and improved lifestyle also augment the rice bran oil consumption among the Korean population.

Market Share by Application

Along with its heart-healthy cooking oil properties, it also moisturises and brightens skin when used in skincare products. It is particularly praised for its ability to lighten the skin.  Moreover, it is rich in proteins, minerals and especially vitamins such as vitamin E, Vitamin B, oryzanol and gamma. The use of rice bran oil in cosmetics and skin care products has also risen dramatically. The application in pharmaceuticals, and food processing, other industries boost its demand thus propelling the market growth in South Korea. 

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Competitive Landscape

Ricela Health Foods - Ricela Health Foods Limited produces goods made from oilseeds. Refined sunflower oil, rice bran, cottonseed, and culinary oils are all provided by the company. Wax, in addition to other health supplements, is also sold by Ricela Health Foods as an additive for cow feed. Ricela Health Foods has consumers all around the world. The company was established in the year 1992 and is based in Punjab, India.

King Rice Oil Group- With the creation of "Thai Edible Oil Co., Ltd." in 1977 and the understanding of Thai rice bran's significant nutritional value, the King Rice Oil Group began to produce oil under the name King Rice Bran Oil. The company produces High-grade Rice Bran Oil, Defatted Rice Bran and Crude Rice Bran Oil,, together with other unique products, for distribution in Thailand and exporting to over 30 other nations. The headquarter is situated in Klongtoey, Bangkok.

Key Highlights of the Report