The global canola oil market reached a volume of 31.7 Million Tons in 2018. The market is further projected to reach a volume of 44.4 Million Tons by 2024, expanding at a CAGR of 5.8% during 2019-2024. Canola oil refers to a vegetable oil extracted from rapeseed which belongs to the Brassicaceae family. It is a rich source of omega-3 and omega-6 fatty acids, monosaturated fats, and vitamin E. On the other hand, it has lower amounts of saturated fats and trans-fats in comparison to other vegetable oils. Owing to this, canola oil helps in reducing inflammation, improving metabolism, assisting in overall development of infants, and protecting against heart attacks and strokes. Earlier, canola oil only had industrial uses, whereas now it finds myriad applications in the commercial as well as residential spaces.
Global Canola Oil Market Drivers:
- A rise in the cases of cardiovascular diseases has made a large section of the population to focus on their health. As canola oil has high oleic acid which helps in lowering the bad cholesterol levels present in the body, it is increasingly being used as a cooking oil by health-conscious consumers, thereby impelling the market growth.
- Due to several benefits provided by canola oil, its demand is now proliferating for sautéing, grilling, baking, stir-frying and as a salad dressing. Fast-paced lifestyle coupled with high income levels of the consumers has resulted in the trend of dining-out, in turn, spurring the demand for canola oil in numerous restaurants.
- Canola oil is used in the skincare and cosmetics industry due to its anti-aging properties which assist in reducing acne, fine lines, wrinkles and blemishes. Apart from this, it is also employed in the haircare sector as canola oil helps in smoothening hair. Additionally, canola oil is utilised in the preparation of plasticisers in order to provide a higher velocity. Growth in these end-use industries is further creating a positive outlook for the canola oil market.
- The residuals obtained after the production of canola oil are served to livestock as it comprises of an excellent amount of amino acid and low count of glucosinolates which assist in providing vitamins, minerals and fiber to the livestock. After soybean, canola meal is regarded as the second largest feed meal in the world.
Breakup by Packaging:
On the basis of packaging, canola oil is widely available in cans, drums, bottles, pouches and others. Amongst these, drums represent the most popular packaging type, holding the largest market share.
Breakup by Application:
Based on application, the market is segregated into cooking, processed foods, lubricants, personnel care, biofuels and others. Currently, cooking and processed foods account for the majority of the global market as it is excessively used for culinary purposes.
On a geographical front, Europe enjoys the leading position in the global canola oil market. The rising demand for canola oil can be accredited to the increasing rate of health problems and chronic diseases in the region. Europe is followed by Asia Pacific, North America, Middle East and Africa, and Latin America.
The market is fragmented in nature with the presence of several manufacturers who are competing in terms of prices and quality. Some of the key players operative in the market are:
- Archer Daniels Midland
- Bunge Limited
- Cargill Inc.
- James Richardson International
- Louis Dreyfus Company
This report provides a deep insight into the global canola oil market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a canola oil manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the canola oil industry in any manner.
Key Questions Answered in This Report:
- How has the global canola oil market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global canola oil market?
- What are the major application segments in the global canola oil market?
- What are the key packaging types in the global canola oil market?
- What are the price trends of canola oil?
- What are the various stages in the value chain of the global canola oil industry?
- What are the key driving factors and challenges in the global canola oil industry?
- What is the structure of the global canola oil industry and who are the key players?
- What is the degree of competition in the global canola oil industry?
- What are the profit margins in the global canola oil industry?
- What are the key requirements for setting up a canola oil manufacturing plant?
- How is canola oil manufactured?
- What are the various unit operations involved in a canola oil manufacturing plant?
- What is the total size of land required for setting up a canola oil manufacturing plant?
- What are the machinery requirements for setting up a canola oil manufacturing plant?
- What are the raw material requirements for setting up a canola oil manufacturing plant?
- What are the packaging requirements for canola oil?
- What are the transportation requirements for canola oil?
- What are the utility requirements for setting up a canola oil manufacturing plant?
- What are the manpower requirements for setting up a canola oil manufacturing plant?
- What are the infrastructure costs for setting up a canola oil manufacturing plant?
- What are the capital costs for setting up a canola oil manufacturing plant?
- What are the operating costs for setting up a canola oil manufacturing plant?
- What will be the income and expenditures for a canola oil manufacturing plant?
- What is the time required to break-even?