Rapeseed Oil Market Research, 2031
The global rapeseed oil market size was valued at $20,836.1 million in 2020, and is projected to reach $37,199.4 million by 2031, growing at a CAGR of 5.6% from 2022 to 2031.
Rapeseed oil, also known as colza or canola oil is extracted from the black-red colored seeds of rape plant. Rapeseeds are widely cultivated for its oil-rich property that serves many health benefits when used in food processing. Rapeseed has various industrial applications, including use in manufacturing of bio-diesels and cosmetics & personal care products. Growth in consumption of rapeseed oil in the production of bio-diesel in the European Union drives the global rapeseed oil market. Europe accounts for more than three-fifths share of the rapeseed oil produced to manufacture bio-diesel. Rise in health-consciousness and increase in awareness about the health benefits offered by rapeseed oil are expected to fuel the market growth. However, high production of other oilseeds, such as soybean and palm, to produce vegetable oil hampers the rapeseed oil market growth.
As per the global rapeseed oil market forecast, the market is segmented on the basis of the type, application, distribution channel, and region. Depending on the type, the market is divided into processed and virgin. According to application, the market is segregated into food processing, bio-fuel, cosmetics & personal care, and others. As per the distribution channel, the market is bifurcated into supermarkets and hypermarkets, independent retail stores, business to business, online sales channels. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Poland, Romania, Czech Republic, Russia, Ukraine, Norway, Switzerland, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, Indonesia, and rest of Asia-Pacific), and LAMEA (Iran, Turkey, Chile, Israel, UAE, Ethiopia, Paraguay, Argentina, and rest of LAMEA).
Depending on the type, the processed segment dominated rapeseed oil market, augmenting about 88.7% of rapeseed oil market share. This dominance is attributed to the increase in adoption of the traditional processing techniques that help to extract high volume of oils from the rapeseed. Wide spread availability of the processed rapeseed oil and increase in penetration of the traditional processing techniques across the globe significantly propel the growth of the processed segment.
As per application, in 2020, the food processing segment accounted for the highest revenue and is anticipated to grow at a significant CAGR of 5.6%. Rapeseed oil contain low content of saturated fatty acids and high content of monounsaturated fatty acids, which reduce bad cholesterol levels, thereby preventing the risk associated with heart diseases and stroke. Thus, health benefits offered by rapeseed oil boost the market growth.
According to the distribution channel, the online segment is projected to be the fastest-growing segment in the forthcoming years. Online retailers and online groceries rapidly penetrate across developed and developing markets. Surge in use of digital technologies and improvement in internet access boost the use of online groceries, which is a significant growth driver of the online sales channels.
Region wise, in 2020, Asia-Pacific accounted for the highest share, in terms of rapeseed oil market size, registering a significant CAGR of 5.5%, from 2022 to 2031. In this region, rapeseed oil is used for food processing and contributes less in industrial applications such as bio-fuels and cosmetics. China is the largest consumer of rapeseed oil, accounting for approximately one-third share of the global rapeseed oil market in terms of volume, and is expected to maintain its dominance during the forecast period. Indonesia is anticipated to grow at the highest CAGR of 6.5% during the forecast period.
The key players profiled in the report include The Archer Daniels Midland Company, Associated British Foods plc., Cargill Incorporated, ConAgra Foods, Inc. (CAG), CSS Estates, Mackintosh of Glendaveny, Ola Oils, Glencore Grain Investment LLC, RISOIL S.A., and Yorkshire (Breckenholme Trading Company).
The other key market players (not profiled in this report) are the Adani Wilmar Ltd., Ruchi Soya Industries Limited, Associated British Foods plc., Bunge Limited, Adams Group Inc., American Vegetable Oils, Inc., Grief Inc. (Olympic Oils Limited), Marico Limited, Fuji Oil Holdings Inc., and Louis Dreyfus Company.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the rapeseed oil market analysis from 2020 to 2031 to identify the prevailing rapeseed oil market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the rapeseed oil market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global rapeseed oil market trends, key players, market segments, application areas, and market growth strategies.
Rapeseed Oil Market Report Highlights
By DISTRIBUTION CHANNEL
Key Market Players
The Archer Daniels Midland Company, ConAgra Foods Inc., Folba Oil Limited SDN, Yorkshire Rapeseed Oil, Ola Oils, Mackintosh of Glendaveny, Cargill Incorporated, Pacific Coast Canola, Cullise, RISOIL S.A
Rape crops are primarily cultivated for oil-rich seeds and are the third largest source of vegetable oil, after soybean and palm. Rapeseed oil comprises a high proportion of erucic and eicosenoic acids, which are not vital for human growth and render the oil unfit for human consumption. The low erucic variety of rapeseed oil is widely used in food processing, salad dressing, margarines, and sauces. High erucic variety is used for industrial purposes, including use in bio-degradable lubricating oil, bio-fuels, and in the manufacturing of cosmetics.
In 2020, the food processing segment dominated the global rapeseed oil market, and is expected to maintain this trend during the forecast period. The U.S., China, and India utilize rapeseed oil majorly for food processing application, while the European countries such as Germany, France, Poland, the UK, and Czech Republic use rapeseed oil to produce bio-fuels.
Implementation of government initiatives & subsidiaries to produce rapeseed oil as a pure form of fuel and rise in awareness about the health benefits offered by rapeseed oil are anticipated to have a positive impact on the market growth.