IMARC Group, a leading market research company, has recently releases report titled “Rapeseed Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” The global rapeseed oil market size reached US$ 35.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 54.9 Billion by 2032, exhibiting a growth rate (CAGR) of 4.67% during 2024-2032.
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Factors Affecting the Growth of the Rapeseed Oil Industry:
- Health Benefits of Rapeseed Oil:
The increasing awareness among the masses about the health benefits offered by rapeseed oil represents one of the primary factors propelling the market growth. Additionally, rising preferences of individuals for foods and beverages that promote cardiovascular well-being are favoring the market growth. Rapeseed oil contains low levels of saturated fat and a high content of monounsaturated and polyunsaturated fats, which improves heart health. Along with this, rapeseed oil contains alpha-linolenic acid (ALA), which makes it an attractive choice for those looking to boost their omega-3 intake without consuming fish oil supplements.
- Sustainability Concerns:
The growing sustainability concerns associated with biodiesel production are influencing the market positively. Additionally, the increasing awareness among people about climate change and the rising need to reduce greenhouse gas emissions are strengthening the growth of the market. Rapeseed cultivation can be integrated into sustainable farming practices, and its oil can be converted into biodiesel, reducing the carbon footprint of transportation and industrial sectors. In line with this, governing authorities of several countries are offering incentives and implementing regulations to promote biodiesel production, further catalyzing the demand for rapeseed oil.
- Expanding Applications:
The expanding applications of rapeseed oil in the food and beverage (F&B) industry are offering a favorable market outlook. The neutral flavor of rapeseed oil makes it a versatile base for salad dressings and marinades. Its ability to carry and enhance the flavors of herbs, spices, and other ingredients makes it a preferred choice for chefs and home cooks alike. In addition, the increasing construction of hotels, restaurants, and food service establishments is creating a positive outlook for the market. Along with this, F&B industry is actively reducing the use of trans fats due to their negative health effects, which is driving the market.
Leading Companies Operating in the Global Rapeseed Oil Industry:
- Archer-Daniels-Midland Company
- Bunge Limited
- Cargill Incorporated
- Conagra Brands Inc.
- Cullise Ltd.
- Interfat SA
- Louis Dreyfus Company B.V.
- Mackintosh of Glendaveny
- Ola Oils Limited
- Yorkshire Rapeseed Oil
Rapeseed Oil Market Report Segmentation:
By Type:
- Processed
- Virgin
Processed rapeseed oil holds the largest market share as it is often preferred due to its versatility, as it can be used for cooking, frying, and various industrial applications.
By Nature:
- Organic
- Conventional
Conventional dominates the market as it is widely available and more affordable compared to organic or specialty variations.
By End Use:
- Supermarkets and Hypermarkets
- Online Stores
- Specialty Stores
- Retail Stores
- Others
Supermarkets and hypermarkets account for the majority of the market share as they have extensive distribution networks and are convenient for people.
By Application:
- Food Processing
- Bio-Fuel
- Cosmetics and Personal Care
- Others
Food processing represents the largest market segment as rapeseed oil is widely used in preparing several dishes due to its high smoke point and neutral flavor, making it suitable for various culinary applications.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific’s dominance in the rapeseed oil market is attributed to the expanding population and the increasing consumption of edible oils in the region.
Global Rapeseed Oil Market Trends:
The growing emphasis on sustainability in agriculture and food production is driving the demand for rapeseed oil. Additionally, increasing concerns about the environmental impact of food production and the rising need for more eco-friendly and ethical choices are influencing the market positively. Along with this, many farmers are adopting sustainable farming practices, such as crop rotation and reduced tillage, to improve soil health and reduce environmental impact. Moreover, several food companies and manufacturers are recognizing the importance of corporate responsibility and sustainability in their supply chains.
Other Key Points Covered in the Report:
- COVID-19 Impact
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
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