Global Cold-Pressed Canola Oil Market 2023-2030

Global Cold-Pressed Canola Oil Market 2023-2030

Global cold-pressed canola oil market is anticipated to grow at a considerable CAGR of 4.8% during the forecast period. Cold-pressed canola oil is a type of vegetable oil that is extracted from the seeds of the canola plant through a process known as cold pressing. In this process, the canola seeds are mechanically crushed and pressed to extract the oil without the use of heat or chemicals. Cold-pressed canola oil is a healthier option compared to oils that are extracted using chemical solvents or high-heat processes, as these methods can alter the oil's flavor, texture, and nutritional content. Cold-pressed canola oil retains more of its natural flavor and nutrients, including vitamin E, monounsaturated fats, and omega-3 fatty acids. Canola oil is commonly used in cooking, baking, and salad dressings due to its neutral flavor and high smoke point. The oil is also used in various industries for its lubricant and biofuel properties. Due to such factors, the demand for cold-pressed canola oil on the market is growing.

Segmental Outlook 

The global cold-pressed canola oil market is segmented by type and end-user industry. Based on type, the market is bifurcated into organic cold-pressed canola oil and ordinary cold-pressed canola oil. Based on end-user industry, the market is bifurcated into food industry, biofuels, and oleo chemicals. Among types, the ordinary cold-pressed canola oil segment is expected to account for the largest market share. Ordinary cold-pressed canola oil is more widely available and affordable compared to organic cold-pressed canola oil. This makes it a more popular choice for consumers and food manufacturers who prioritize cost-effectiveness over organic certification.

The Food Industry Segment Holds a Prominent Share in the Global Cold-Pressed Canola Oil Market

Based on end-user industry, the market is bifurcated into the food industry, biofuels, and oleo chemicals. Among these, the food industry is likely the largest consumer of cold-pressed canola oil. Cold-pressed canola oil is great for usage in the food sector since it has a higher smoking point, making it ideal for cooking or frying. Cold-pressed oils are high in monounsaturated and polyunsaturated fatty acids, which aid in cholesterol reduction and heart health. This oil contains roughly 60% oleic acid, which helps decrease harmful LDL cholesterol levels without impacting good HDL cholesterol levels. Hence, the growth of the food industry will eventually increase the consumption of cold-pressed canola oil as well. For instance, the International Food Policy Research Institute (IFPRI) notes that the global food industry is projected to grow from $8.7 trillion in 2015 to $20 trillion by 2030, driven by population growth, rising incomes, and changing consumer preferences.

Regional Outlook

The global cold-pressed canola oil market is segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the rest of the world (the Middle East and Africa and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among the regions, the North American region is expected to generate the highest market share, followed by the Asia-Pacific markets. The growing food industry is the key driver of the Asia-Pacific region’s market growth

The North American Region is Expected to Dominate the Global Cold-Pressed Canola Oil Market

The key countries that are supporting the region’s market growth include the US and Canada, among others. The increased supply of oil in Canada has resulted in a tremendous expansion of the region's market. According to the Canola Council of Canada, 43,000 Canadian farmers cultivate canola, producing around 20 million tones of canola each year. Canola is currently one of Canada's most frequently cultivated crops, accounting for around one-quarter of all agricultural crop receipts. Additionally, rising product sales in hypermarkets, supermarkets, convenience shops, and online retailers have aided the expansion of the North American cold-pressed canola oil industry.

Market Players Outlook

The major companies serving the global cold-pressed canola oil market include Alba Edible Oils, Bunge North America, Inc., Deve Herbes, Extra Virgin Cape Canola, and others. These companies are considerably contributing to the market’s growth through the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, investments, and new product launches to stay competitive in the market. For instance, in June 2022, the Western Australian government granted $85,000 to Alba Edible Oils as part of Round Two of its International Competitiveness Co-Investment Fund grants. The funds were awarded to promote the company's line of locally produced cooking oil products to premium food service, manufacturing, and retail export markets, assisting in the product's transformation from a commodity to a premium retail and food service product.

The Report Covers-

Market value data analysis for 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global cold-pressed canola oil market. Based on the availability of data, information related to new product launches and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market entry and market expansion strategies.

Competitive strategies by identifying ‘who stands where’ in the market.