Rapeseed Oil Market
Rapeseed Oil Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2021 to 2031
- Aug-2021
- List of Tables : 216
- List of Figures : 66
- 170 Pages
- Food & Beverage
Market Snapshot
According to Fact.MR, rapeseed oil sales are expected to be valued at nearly US$ 17 Bn by 2021. Long-term projections appear more positive, with the market for rapeseed oil will reach US$ 32 Bn, growing at a CAGR surpassing 6% from 2020 to 2031.
The global market for rapeseed oil is also driven by growing demand for biofuels and dietary fats. Consumption of rapeseed oil in the kitchen by consumers provides benefits of raising good cholesterol in the body, preventing various types of cancers and improving skin conditions.
Key Points Addressed in Rapeseed Oil Industry Analysis
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Rapeseed Oil Market and How to Navigate
- Recommendation on Key Winning Strategies
Rapeseed oil Market Analysis from 2016-2020 Vs Future Outlook 2021-2031
According to Fact.MR, market research and competitive intelligence provider, the global market for rapeseed exhibited a CAGR of over 4% from 2016 to 2020. The health benefits of rapeseed oil have driven the global market demand.
Rapeseed oil is often used in applications such as kitchens, cosmetics, and personal care products. Researchers and manufacturers are working to come up with new products and make better use of the oil. Based on these aforementioned developments, the market is slated to surge at a CAGR of over 6% from 2021 to 2031.
How has Rapeseed Oil Proven to be an Effective Fuel Source?
Based on emission data, characteristics, and long-term operation behavior of 18 tractors, pure rapeseed oil can be used as a renewable fuel for agricultural and forestry machinery. A healthy whole oil, with its high fat composition and low cost, makes it an excellent choice for daily consumption.
In addition, production of rapeseed oil can prevent between 700 and 1050 tons of greenhouse gas emissions in a lifetime. Pure rapeseed oil fuel could contribute to water protection, soil maintenance, and climate variability in forestry.
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Why the Scramble for Low Glucosinolate Rapeseed Oil?
A genetic analysis of some Russian rapeseed samples was conducted by researchers from Skoltech and Pustovoit All-Russian Research Institute for Oil Crops in Krasnodar. Scientists discovered new candidate genes that are responsible for regulating the levels of glucosinolates in rapeseed oil. Their findings will be useful to crop breeders in improving rapeseed oil composition.
Using glucosinolate content data collected over three growing seasons, the researchers compared the results of the genetic analysis of 90 rapeseed lines. Identification of genetic markers and candidate genes associated with glucosinolate biosynthesis allowed for accurate glucosinolate determination of oil. Once the markers have been tested on independent plants, they are likely to be useful for developing new varieties and hybrids with low glucosinolate levels.
Country-wise Insights
How is Rapeseed Oil Expected to fare in the U.S?
The U.S is a world leader in rapeseed oil consumption due to its health benefits. During the forecast period, it is expected to grow at a CAGR of 7.3%. As the top producer of cosmetics using rapeseed oil in the production, the United States shows the highest demand for rapeseed oil in North America.
Furthermore, rapeseed oils are in demand in markets due to their contribution to reducing greenhouse gas emissions in the region.
Why are Manufacturers Scrambling for the European Landscape?
Rapeseed oil is set to dominate the European market, expected to grow moderately at a CAGR of 5%. Rapeseeds for oil production are developed in Europe due to their high yields.
In the European Union, 90% of the rapeseed production comes from France, the U.K., and Germany. In Europe, rapeseed is used to produce 5.1 billion kilograms of the meal and 3.6 billion kilograms of oil.
Around 75% of the oilseeds are sown in the U.K during autumn. With the advent of biodiesel, rapeseed oil production and consumption has increased significantly.
What are the growth opportunities for Rapeseed Oil in Asia?
In terms of population and price, Asia accounted for the largest market share globally. A large portion of rapeseed oils for food processing comes from this region. India and China are the largest consumers of rapeseed oil across the region.
In Asia, rapeseed oil market revenue increased by 7.2% in 2020. China consumes 60% of the total rapeseed oil. As a result of their low cost and health benefits, vegetable oils are driving the rapeseed oil market.
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Category-wise Insights
Why is Virgin Oil Gaining Immense Popularity in the Market?
Virgin oils have become a healthy alternative for consumption. As one of the richest sources of energy, virgin oils transport vitamins to the body, increasing the body's temperature and the shield of protection to the internal organs.
Rapeseed virgin oil is high in poly and monounsaturated fats, but low in saturated fats. They contain a high amount of essential fatty acids omega 3, 6, and 9 and provide a good source of vitamin E and K. A CAGR of 5% is projected for this segment.
Why are Online Rapeseed Oil Sales Gaining Traction?
Recent pandemics have led to a major disruption in international markets due to global shutdowns. Rapeseed oils' growing market demand led to the emergence of online stores for online sales and greater availability of oils on the market.
Manufacturers resorted to online sales to meet the demand for oil in the regions after production was halted and supply chains disrupted in response to the growing demand for healthy oils. According to Fact.MR, online sales will likely expand at over 4% CAGR through 2031.
Competitive Landscape
Strategic collaborations enable rapeseed manufacturers to increase revenue and market share. The implementation of new technologies and equipment allows manufacturers to expand their footprints in the market.
- In June 2021, SIA lecavnieks & Co. received EUR 2.49 million from Luminor. This investment by Luminor bank was granted to provide working capital to SIA lecavnieks & Co., which manufactures oil, both refined and unrefined, in the Baltic States.
- Likewise, an omega-3 ingredient, canola oil, from Nuseed Nutritional US Inc. in West Sacramento, CA, has been recognized by the FDA as a New Dietary Ingredients (NDI). This company creates a natural source of omega-3s that is a combination of EPA, DHA, and alpha-linolenic acid(ALA).
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Report Scope
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Attribute |
Details |
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Forecast Period |
2021-2031 |
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Historical Data Available for |
2016-2020 |
|
Market Analysis |
US$ Mn for Value & ‘000 Units for Volume |
|
Key Regions Covered |
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Key Countries Covered |
|
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
Key Segments Covered
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Product Type
- Processed Rapeseed Oil
- Virgin Rapeseed Oil
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End User
- Rapeseed Oil for Food Services
- Rapeseed Oil for Food Processors
- Rapeseed Oil for Retail
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Distribution Channel
- Rapeseed Oil Distribution via Modern Trade
- Rapeseed Oil Distribution via Franchise Outlets
- Rapeseed Oil Distribution via Specialty Stores
- Rapeseed Oil Distribution via Online Channels
- FAQs -
By 2021, global sales of rapeseed oil will be worth US$17 Bn, according to a recently published report by Fact.MR
The rapeseed oil market is like to expand at a CAGR of over 6% over the next decade
According to Fact.MR, global demand for rapeseed oil surged at a CAGR exceeding 4% from 2016 to 2020
By 2031, the global market for rapeseed oil is likely to reach around US$ 32 Bn
Increasing demand for rapeseed oils as a healthier alternative to other oils due to their essential vitamins and omega fatty acids content is driving rapeseed oil demand
Europe holds a substantial share in the market, likely to expand at around 5% CAGR.
Adani Wilmar Ltd., Ruchi Soya Industries Limited, Associated British Foods Plc. and Cargill Inc. are some prominent rapeseed oil manufacturers.
U.S, Canada, India, China and U.K are the top 5 rapeseed oil producers
In Asia, revenues arising out of rapeseed oil surged by 7.2% in 2020, as per Fact.MR.
China is likely to account for around 60% of the demand for rapeseed oil in the future.
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