According to the latest report by IMARC Group, titled “Rapeseed Oil Market Report by Type (Processed, Virgin), Nature (Organic, Conventional), Distribution Channel (Supermarkets and Hypermarkets, Online Stores, Specialty Stores, Retail Stores, and Others), Application (Food Processing, Bio-Fuel, Cosmetics and Personal Care, and Others), and Region 2023-2028,” the global rapeseed oil market size reached US$ 34.1 Billion in 2022. Rapeseed oil is a versatile and widely consumed vegetable oil derived from the seeds of the rapeseed plant. It is known for its mild flavor, high smoke point, and nutritional value, making it a popular choice in culinary applications. The process of obtaining rapeseed oil involves crushing the seeds and then extracting the oil through mechanical or solvent extraction methods. One of the distinguishing features of rapeseed oil is its low saturated fat content and high levels of unsaturated fats, particularly monounsaturated and polyunsaturated fats, which are considered heart-healthy. This composition has contributed to its popularity as a cooking oil in households and commercial food preparation.
Global Rapeseed Oil Market Trends:
The increasing awareness of the health benefits related to rapeseed oil consumption, driven by its low saturated fat content and gigantic levels of omega-3 fatty acids, is spurring demand in the food industry, primarily driving the market growth. Besides this, the surging product incorporation into various products such as snacks, baked goods, and salad dressings to meet the demand for healthier food alternatives is aiding in market expansion. The growth of the rapeseed oil market is also propelled by its environmental sustainability, as rapeseed is a low-input crop that thrives in diverse climates, requires fewer pesticides and fertilizers, and aligns with consumer and regulatory preferences for eco-friendly practices. Moreover, the biodiesel industry's promotion of rapeseed oil as a renewable and cleaner substitute to traditional fossil fuels due to its favorable properties and availability is driving the demand for rapeseed oil as a key feedstock. In addition to this, the globalization of food markets and the expansion of international trade, leading to more interconnected global food supply chains, are facilitating the incorporation of rapeseed oil into diverse international cuisines and food products, thereby bolstering the market growth. Along with this, technological advancements in rapeseed cultivation and oil extraction processes, enhancing the efficiency and cost-effectiveness of rapeseed oil production, are contributing to the market growth. Furthermore, the versatility of rapeseed oil in diverse industrial applications, including cosmetics, pharmaceuticals, and machinery lubrication, due to its natural and biodegradable properties, is broadening its market reach. Looking forward, the market value is projected to reach US$ 46.4 Billion by 2028, expanding at a CAGR of 5.35% during 2023-2028.
- Based on the type, the market has been bifuracted into processed and virgin. Between these, processed rapeseed oil represents the largest segment.
- On the basis of nature, the market has been categorized into organic and conventional. Currently, conventional holds the largest market share.
- Based on the distribution channel, the market has been segmented into supermarkets and hypermarkets, online stores, specialty stores, retail stores, and others. Among these, supermarkets and hypermarkets dominate the market, holding the largest share.
- On the basis of the application, the market has been classified into food processing, bio-fuel, cosmetics and personal care, and others. Presently, the food processing sector accounts for the majority of the market share.
- Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Currently, Asia Pacific enjoys the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being 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, and Yorkshire Rapeseed Oil, etc.
|Base Year of the Analysis
|Scope of the Report
||Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Distribution Channel
|Distribution Channels Covered
||Supermarkets and Hypermarkets, Online Stores, Specialty Stores, Retail Stores, Others
||Food Processing, Bio-Fuel, Cosmetics and Personal Care, Others
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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, etc.
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