What is Global Rapeseed Canola Oil Market?
The Global Rapeseed Canola Oil Market is a vast and dynamic sector that encompasses the production, distribution, and sale of rapeseed canola oil worldwide. This market is driven by the increasing demand for healthier oil alternatives, the versatility of rapeseed canola oil in various applications, and the growing awareness about its health benefits. Rapeseed canola oil is derived from the seeds of the rapeseed plant, a member of the mustard family. It is known for its low saturated fat content and high monounsaturated fat, making it a popular choice for health-conscious consumers. The market is further fueled by the increasing use of rapeseed canola oil in the food industry, biofuels, and other sectors. The global market is characterized by the presence of several key players who are continuously investing in research and development to introduce innovative products and improve their existing product portfolio.
Cold-pressed Canola Oil, Extracted Canola Oil in the Global Rapeseed Canola Oil Market:
The Global Rapeseed Canola Oil Market is segmented into two main types: Cold-pressed Canola Oil and Extracted Canola Oil. Cold-pressed canola oil is produced by mechanically pressing the seeds at a low temperature, which helps retain its natural flavor, color, and nutritional value. On the other hand, extracted canola oil is obtained using a chemical solvent, usually hexane, to extract the oil from the seeds. This method is more efficient and yields more oil than cold-pressing, but it may alter the oil's nutritional profile. Both types of oil have their unique advantages and cater to different consumer preferences. The choice between the two often depends on factors such as taste, nutritional requirements, and cooking methods.
Food Industry, Biofuels, Chemical, Others in the Global Rapeseed Canola Oil Market:
The Global Rapeseed Canola Oil Market finds extensive usage in various sectors such as the food industry, biofuels, chemicals, and others. In the food industry, it is used for cooking and baking due to its light flavor and high smoke point. It is also used in the production of margarine and shortening. In the biofuels sector, rapeseed canola oil is used as a feedstock for biodiesel production. It is also used in the chemical industry for the production of soaps, lubricants, and other products. Other uses of rapeseed canola oil include its application in cosmetics and personal care products due to its moisturizing properties.
Global Rapeseed Canola Oil Market Outlook:
Looking at the market outlook, the Global Rapeseed Canola Oil Market was valued at a significant US$ 34780 million in 2023. The market is projected to experience a steady growth, reaching an estimated value of US$ 43770 million by 2030. This growth trajectory, representing a Compound Annual Growth Rate (CAGR) of 3.9%, is expected to be maintained during the forecast period from 2024 to 2030. This growth can be attributed to the increasing demand for healthier oil alternatives, the versatility of rapeseed canola oil in various applications, and the growing awareness about its health benefits.
| Report Metric | Details |
| Report Name | Rapeseed Canola Oil Market |
| Accounted market size in 2023 | US$ 34780 million |
| Forecasted market size in 2030 | US$ 43770 million |
| CAGR | 3.9% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Louis Dreyfus Company, ADM, Cargill, Bunge, Richardson Oilseed, Viterra, Al Ghurair, CHS, Sunora Foods, Oliyar, Wilmar International, EYCO, MSM Milling, ALBA, The Kroger, La Tourangelle, COFCO, Guangxi BG Oils, Associated British Foods, Archer Daniels Midland Company, Jivo Wellness Pvt. Ltd., American Vegetable Oils, Highwood Crossing Foods |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
