Rice is a global staple food crop for nearly half of the world's population. Rice bran along with the germ are essential components of whole-grain rice and have immense potential for enhancing human nutrition. Rice bran has a unique composition and distinct requirements for processing before it can be consumed by humans when compared with other cereal brans. The comprehensive overview and synthesis of rice bran processing include extending the shelf life for functional food product development and extraction of bioactive components. This narrative review highlights established and innovative stabilization approaches, including solvent extraction and enzymatic treatments, which are critical methods and technologies for wider rice bran availability. The nutrient and phytochemical profiles of rice bran may improve with new cultivar development and food-fortification strategies. The postharvest agricultural practices and processing techniques can reduce food waste while also supporting growers to produce novel pigmented cultivars that can enhance nutritional value for human health.