Global Rapeseed Oil Market - 2022-2029

Global Rapeseed Oil Market - 2022-2029

Market Overview

The global rapeseed oil market valued USD xx million in 2021 and is forecast to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029)

Rapeseed oil, also known as colza or canola oil is extracted from the black-red colored seeds of rape plant. This oil is pure, so it does not contain any protein or carbohydrate. It is a good source of healthy fat and fat-soluble vitamin. It is a great source of vitamin E, which is helpful for the eye and skin. This oil contains less saturated fat and is high in unsaturated fat, which is helpful for better health. Rapeseed oil is also high in omega-6 fats, which supports overall health when consumed in moderate amounts.

Market Dynamics:

Increasing awareness about rapeseed oil health benefits

Rapeseed oil has various health benefits people are more health-conscious after the pandemic, and it also increases the disposable income of people and drives the growth of the rapeseed oil market. Rapeseed oil is a large source of vitamin E, which plays an important role in skin and eye health and hair. This oil is a great source of omega 3 fat which provides great health benefits like it lowers body blood pressure and lowering the chance of heart attack. Rapeseed oil also promotes brain health. It enhances the permeability of brain cells and better communication between them. It is good for the respiratory system and circulatory systems of the body. It is a rich source of calcium, magnesium and potassium, which act as an energy booster and perform a big role in the stabilization of blood sugar and digestion. Apart from the health benefits, this oil is used for personal care products like creams, lotions and oil. Moreover, increasing usage of rapeseed oil in various industries, including food and beverages, chemicals, and biodiesel is expected to drive the market growth.

Market Segmentation:

Processed rapeseed oil segment held highest market revenue share of XX% in the year 2021

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. Processed rapeseed oil has various health benefits like contains less saturated fatty acid, which reduces the cholesterol level of body; hence it reduces the chances of a heart attack.

By 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 market. The online sales channel is the fastest-growing technique in various developed and developing countries. Easy procedures of online shopping drive the growth of market.

Geographical Penetration:

Asia Pacific is expected to dominate the global rapeseed oil market in the year 2021

The rising awareness of health importance of rapeseed oil in APAC will facilitate the growth of market in this region. Rapeseed contains a high amount of calcium, magnesium and potassium, which has high importance in energy boosting. The major countries across the APAC region are adopting rapeseed oil for daily use. For instance, in 2018, the production of rapeseed oil in the Asia Pacific region increased by 3.2% against 2017. China, India and Japan are highest contributor in production of rapeseed oil. China contributes around 59% of the total volume rapeseed oil among the total production of APAC region. Also, China is the largest rapeseed oil-consuming country in the world and it consumes approx.7.5 million tonnes rapeseed oil. Followed by China, India (2.8M tonnes) and Japan (1.2M tonnes) are second most consumer of rapeseed oil. Other countries include Pakistan and Australia comprising around 4.4% share of total APAC consumer market.

Competitive Landscape:

The global market remains fragmented due to local and private-label brands in different regions. Technological advancements resulting in superior product quality are the key to the sustainable growth trajectory of rapeseed oil. Companies like the Cargill, Incorporated, CCS Estates, Ola Oils Ltd, and Mackintosh of Glendaveny among others are focusing on launching new products and expanding their production capacities to increase their prominence in the marketplace. For instance, in April 2021, Cargill built a new Canadian canola plant that cost 350USD million to produce rapeseed oil as demand for the vegetable oil and animal feed exceeded. The refinery is also planning to produce renewable diesel. This plant has the capacity of crushed 1 million tonnes of rapeseed annually. In July 2019, Cargill developed stable canola oil with low saturated fat and improved flavor.

COVID-19 Impact: Negative impact on the global rapeseed oil market

At the initial stages of lockdown, prices of all vegetable oils increased. Lockdown restrictions by the government closed restaurants, hotels and cafes, has significantly declined the demand for the rapeseed oil market across the world. Moreover, the closure of the international borders affects the import-export of rapeseed oil. Also, due to the disruption in the supply chain, the unavailability of raw materials caused high oil prices and a shortage in the availability of rapeseed oil.

After post COVID-19 restriction recovery, the government has released all the restrictions of lockdown and it boosted the supply chain of food industry. After COVID-19 crisis, people became more health-conscious, and started adopting rapeseed oil in daily life as it contains less fatty acid fat which is key factor drives the growth of this market.

Why Purchase the Report?

Understand the current market scenario and viability of global rapeseed oil over the forecast period

Visualize the composition of the global rapeseed oil market in terms of type, application and distribution channel to identify major players, growth potential, and market strategies

Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period

Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study

Excel data sheet with valuable data points of the global rapeseed oil market – Regional and Country level segmentation

Product mapping in excel for the key products of all major market players

Market share analysis covering business revenues ($) and revenue share (%) of key market players

The global rapeseed oil market report would provide an access to approximately 61market data tables, 53 figures and 180 pages

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