iCrowdNewswire Oct 30, 202010:45 AM ET
Rapeseed Oil Market size is forecast to reach $39,927M by 2025, growing at a CAGR of 6.24% during the forecast period 2020-2025. Rapeseed is a bright yellow flowering member of the Brassicaceae family, mainly planted for its oil-rich seed, which contains naturally toxic erucic acid. Rapeseed is the second-largest source of protein meal and third-largest source of vegetable oil in the world. Change in consumers eating habits, rising health consciousness and taste preferences have driven the rapeseed oil market globally.
Application Type – Segment Analysis
Rapeseed Oil is used in different types of industries, they are, Food processing, Cosmetics, Bio-fuel, Personal care, and lubricant. In 2019 the Food processing segment had dominating market and continuing its growth at CAGR 4.04% during the forecast period 2020-2025. Owing to the health benefits in rapeseed oil it is mostly used in different types of food, rapeseed oil is also used in personal care products such as oils, cream and lotions. This oil is used as fuel either as biofuel or mixed with petroleum distillates for powering motor vehicles. The cosmetics and beauty products, using rapeseed oil have vitamin E and antioxidants, which are helpful in reducing scars, repairing damaged hair and repairing skin conditions.
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Product Type – Segment Analysis
Based on product type, the Rapeseed oil market is segmented into Industrial rapeseed oil and Culinary rapeseed oil. The culinary rapeseed oil segment had dominating market in 2019 and is set to have the highest growth during the forecast period 2020-2025, as this oil is widely used in different variety of food products. Rapeseed oil is also used in different industries like in personal care products, cosmetics, lubricants, and biofuel. Rapeseed oil has several health benefits, owing to the good source of Vitamin E, low saturated fat content and is used for a wide variety of diets. With the increase in funding to the R&D, many new developments are being made to increase the usage in the biofuel sector.
Geography – segmentation
In 2019, Asia-Pacific region dominated the rapeseed oil market with 38%, as it is highly used in countries like China and is forecast to have the fastest growth owing to rising demand for rapeseed oil in the manufacturing of biodiesel, food processing and other industries. Europe has more than three-fifths share in the manufacturing of biodiesel over worldwide as it accounts for the maximum production of rapeseed oil.
Drivers – Rapeseed Oil Market
Increased usage in different industries
Having variety of usage in different fields like in food processing and personal care is driving the usage of this rapeseed oil. Rapeseed oil consist of unsaturated fat and antioxidants which were good for health. Increase in growth of rapeseed plants also increased the market as there id increase in production of oil in areas like Europe and China.
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Challenges – Rapeseed Oil Market
Lack of different types of minerals and other vitamins in the rapeseed oil is big restraint to the demand of the market
Rapeseed Oil Market Industry Outlook
Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Rapeseed Oil Market. Some of the major players in this market are Cargill Incorporated, Cullise, Folba Oil Limited SDN, Mackintosh of Glendaveny, Ola Oils, Pacific Coast Canola, Risoil S.A., ConAgra Foods Inc., Yorkshire Rapeseed oil, The Butterworks.
In May 2019, The Butterworks, a U.K. based company, introduced spreadable butter made with extra virgin cold-pressed rapeseed oil.
In April 2017, NCDEX (National Commodity a Derivatives Exchanges Ltd.) announced the mustard and rapeseed oil cake deal, which can provide growth for new companies that want to enter the market.
Asia-pacific is the largest market, in 2019, as it has the highest demand in food processing, bio-fuel, personal care and others.
Rapeseed oil used in the food manufacturing has the highest demand owing to it health benefits.
Rapeseed oil has the antioxidants which are useful in making personal care products and cosmetics.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market is to be provided in the Rapeseed Oil Market report.
Related Reports :
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B. Canola Oil Market
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