Rapeseed Oil Market Outlook 2023: Top Companies, Trends and Future Prospects Details for Business Development by 2030
“The global rapeseed oil market size is set to gain momentum from its extensive usage in the production of biodiesel. It is also used in other applications, such as the formulation of several personal care products, namely, lotions and soaps, as well as in cooking. Fortune Business Insights™ provided this information in an upcoming report, titled, “Rapeseed Oil Market, 2023-2030.” The report further states that rapeseed being a crucial arable crop, provides good income to farmers worldwide. The National Edible Oil Distributors Association, for instance, declared that Europe produces around 21.5 million tonnes rapeseed per year. Amongst this, the region exports nearly 0.1 million tonnes and imports approximately 2.2 million tonnes of the crop annually.
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A list of all the prominent rapeseed oil manufacturers operating in the global market:
- Cargill Incorporated
- CCS Estates Limited
- Folba Oil Limited SDN
- Yorkshire Rapeseed Oil
- Archer Daniels Midland Company
- ConAgra Foods Inc.
- Mackintosh of Glendaveny Limited
- RISOIL S.A.
- Pacific Coast Canola LLC.
- Other key market players
Which Segments are Present in This Market?
We have segregated the market for rapeseed oil on the basis of nature, end-use, and geography. Based on nature, the market is further bifurcated into organic and conventional. By end-use, it is divided into household/retail, animal feed, biodiesel, food & beverages, and cosmetics & personal care. Lastly, in terms of geography, it is categorized into South America, Europe, Asia Pacific, North America, and the Middle East and Africa.
How Did We Conduct Our Research?
The report includes four notable activities in projecting the current market share. Extensive secondary research was conducted to collect data about the parent market. Our next step involved exhaustive primary research to authenticate these sizing, assumptions, and findings with a large number of industry experts. We have also used bottom-up and top-down research approaches to calculate the size of this industry.
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Drivers & Restraints-
Increasing Utilization in Vegetable Oil & Animal Feed to Propel Growth
Rapeseed oil is majorly used in a wide range of end-use industries, such as chemical, food & beverages, and cosmetics industries. It is an essential ingredient in personal care products as it helps fight hair and skin related issues. At the same time, its surging usage in animal feed and vegetable oil would accelerate the rapeseed oil market growth in the upcoming years. Scientists from the University of Bonn, for instance, mentioned that coconut oil differs from olive and rapeseed oil in fatty acids it contains. However, the availability of multiple substitute products, such as soybean oil, palm oil, and others, may hamper the demand for rapeseed oil.
Utilization in Cosmetics Formulation to Favor Growth in Asia Pacific
- Asia Pacific: The region is expected to procure the largest rapeseed oil market share throughout the forthcoming years. China is considered to be a major contributor to this growth because of the increasing utilization of rapeseed oil in commercial applications. It is also used to formulate various cosmetics.
- Europe: This region is projected to showcase considerable growth because of the high demand from the food processing industry and the surging number of biodiesel production projects. The U.K., Italy, and France are anticipated to contribute to this growth.
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