AbstractRice, a staple food in Bangladesh, produces substantial quantities of rice bran as a by‐product, offering considerable potential for advancing agriculture. While rice bran holds value, traditional uses like poultry feed and landfilling remain prevalent despite growing interest in its broader applications. This article explores the current status, stabilization methods, oil extraction techniques, and opportunities and challenges associated with rice bran utilization in Bangladesh. It identifies untapped value‐added products, such as biofuel and industrial materials, and discusses the technological and socio‐economic barriers hindering their development. It compares modern applications such as oil extraction, pharmaceuticals, and food production with more conventional practices. The study highlights untouched value‐added opportunities, including biofuel and industrial materials, which face technological and socio‐economic challenges. With around 4.87 million tons of rice brans projected for the 2023–2024 fiscal year, it emphasizes effective strategies to reduce postharvest losses, improve bran stabilization, and maximize oil yields. The article advocates targeted research, advanced techniques, and policy reforms to enhance rice bran's economic potential. Bangladesh benefits its agricultural economy and public health by optimizing rice bran management. © 2024 Society of Chemical Industry.