Rapeseed Market - 2023-2030

Rapeseed Market - 2023-2030

Global Rapeseed Market reached US$ 36.7 billion in 2022 and is expected to reach US$ 55.05 billion by 2030, growing with a CAGR of 5.2% during the forecast period 2023-2030.

Rapeseed has multiple applications in food, bio-fuel, cosmetic and pharmaceutical sectors. The increasing demand for natural products for their use in various applications is one of the major driving factors for the market growth. The health benefits of rapeseed drive its use in the food and pharma sectors. Rapeseed is also used in personal care products such as oils, creams, and lotions due to its vitamin E and antioxidant content that promote healthy skin.

The advanced technology taking place in the development of rapeseed-producing equipment for more efficient production and extraction techniques positively drives market growth. To meet the increasing demand for rapeseed manufacturers are setting up new production plants. For instance, in April 2021, Cargill built a new canola plant in Canada. The plant costs about 350 USD million and can crush 1 million tonnes of rapeseed annually. The refinery is also planning to produce renewable diesel.

Europe dominates the global rapeseed market. The improved developments in product reach to end-users in this region drive market growth. In March 2022, Cargill Inc., a US-based company, collaborated with ChemPoint.com Inc., an online distributor of specialty chemical products and services, to improve the distribution, marketing, and sales of Agri-PureTM AP-406, a naturally derived, plant-based rapeseed oil methyl ester in Europe and some other countries.

Dynamics

Health Benefits Associated with Rapeseed

Rapeseed is a highly nutritious plant that is rich in polyphenols, antioxidants, minerals and vitamins. It is a good source of calcium, magnesium, and potassium, which are essential for maintaining good health. Rapeseed is believed to provide several health benefits, including boosting energy levels, stabilizing blood sugar, and aiding digestion. Due to its high nutritional value, rapeseed is widely used in the production of food and health-promoting products, such as pharmaceuticals.

Rapeseed is a good addition to vegetarian diets as it has a high proportion of essential fatty acids, particularly Omega 3, and helps to reduce the risk of cardiovascular disease and blood clots. In addition, the vitamin E content in rapeseed provides antioxidant properties that further enhance its health benefits. The high health benefits of rapeseed enhance its use in multiple health-promoting products such as food and pharmaceuticals.

High Use of Rapeseed in Biodiesel Production

With the limiting crude oil globally, there is an emerging need for alternatives such as biodiesel to meet the end-user requirements. The Union for the Promotion of Oil and Protein Plants reported that the biodiesel and hydrotreated vegetable oil consumption for blending showed an increase of 6.3% in 2022 compared to that in 2021. It exceeded 1.23 million tons in the first half of 2022.

Rapeseed is used as one of the most important raw materials for biodiesel. The high use of rapeseed in biodiesel production is driving market growth with new launches. In October 2021, Bollore Energy launched KOOLZA, a low-carbon fuel produced from rapeseed. This new product is an environmentally friendly alternative to fossil diesel with an equivalent range, reducing CO2 emissions by 60% and fine particle emissions by 80%.

High Competition from Other Alternatives

The global rapeseed market is retrained by the availability of various other alternatives such as olive, soybean, safflower, and grapeseed in the market. Due to less consumer awareness about the benefits of the product and their wrong consumer perception in multiple regions, results in less acceptance of the rapeseed in some regions. In addition, the high cost of rapeseed makes price-sensitive end-users prefer other alternatives to substitute the product needed such as soybean and palm in some applications.

Segment Analysisn

The global rapeseed market is segmented based on type, product, nature, distribution channel, application and region.

Increased Use of Rapeseed Oil in Various Applications

The global rapeseed market is segmented based on products into oil and by-products that are used as animal feed. The rapeseed oil segment accounted for the largest share of the global market, due to its demand from all sectors of applications inclduing food and non-food applications. Rapeseed is primarily grown for its oil and in some areas, it contains more than 40 percent oil.

High vitamin E and antioxidants help to reduce scar tissue, repair damaged hair, and improve skin conditions such as itching, eczema, and acne, during its use in personal health care products. It is used in food and other applications too. The new laucnhes in this category drive the segment growth. In October 2020, North Yorkshire Rapeseed Oil Business increased its range of rapeseed oil-based products with the launch of Tartare Sauce which is made from rapeseed oil at the York Food Festival.

Geographical Penetration

High Rapeseed Production in Europe

Europe dominated the global rapeseed market due to its high production. In the EU, rapeseed along with others such as wheat and rye are typically winter crops. According to the USDA Foreign Agriculture Service statistics for January 2024, the European Union accounted for a total of 23 % of the world’s rapeseed production with about 20,050 (1000 MT), with France, Germany, Poland, Czechia and Lithuania accounting for the largest share in the production in this region.

The presence of major players contributes to the rapeseed market development in Europe. ADM Agriculture processes over 4 million metric tonnes of rapeseed in Europe and has a large crushing facility in the UK. They are the leading rapeseed processor in the EU and their Erith factory is the largest rapeseed processing plant in the UK. ADM Agriculture offers a variety of marketing opportunities for rapeseed crops, including export facilities, inland storage, and direct processing facilities.

Competitive Landscape

The major global players in the market include Cargill, Incorporated, ADM, Manishankar Oils Private Limited, Gujarat Ambuja Exports Limited, Borges Agricultural & Industrial Edible Oils, S.A.U., Mahesh Agro Food Industries, Bunge Poland, Louis Dreyfus Company, Viterra and Wilmar International Ltd.

COVID-19 Impact Analysis

The COVID-19 pandemic has had a moderate impact on the rapeseed market. The sudden lockdown restrictions resulted in witnessing a lot of drawbacks to the manufacturers due to interrupted production, processing and industrial activities of the rapeseed. The delay in the procurement of the products due to a disrupted distribution channel.

The pandemic increased consumer focus on overall health resulting in the high demand for a product that helps to support the overall health of a person. With the change in the consumers' preference towards health-promoting products, rapeseed demand has incraseed due to its nutritional value and natural beneficial categories in the food and pharma industry.

By Type
• Processed
• Virgin

By Product
• Oil
• By-Product

By Nature
• Organic
• Conventional

By Distribution Channel
• Supermarkets & Hypermarkets
• Specialty Stores
• E-Commerce
• Other

By End-User
• Food
• Bio-Fuel
• Cosmetics
• Pharmaceuticals
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In March 2022, Cargill Inc., a US-based company collaborated with ChemPoint.com Inc., an online distributor of speciality chemical products and services to improve the distribution, marketing, and sales of Agri-PureTM AP-406, a naturally derived, plant-based rapeseed oil methyl ester in Europe and some other countries.
• In June 2022, Solvay S.A., a Belgium-based chemical company launched two high-performance biosurfactants, Mirasoft SL L60 and Mirasoft SL A60, derived from rapeseed oil and sugar.
• In October 2020, North Yorkshire Rapeseed Oil Business increased its range of rapeseed oil-based products with the launch of Tartare Sauce which is made from rapeseed oil at the York Food Festival.

Why Purchase the Report?
• To visualize the global rapeseed market segmentation based on type, product, nature, distribution channel, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of rapeseed market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global rapeseed market report would provide approximately 78 tables, 72 figures and 225 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies