Rockville, Jan. 09, 2023 (GLOBE NEWSWIRE) -- The rapeseed oil market analysis offered by Fact.MR scrutinizes key growth factors that are impacting sales over the forthcoming decade. The report offers in-depth insights covering vital factors such as drivers, opportunities, key player strategies, and sales outlook for the rapeseed oil market. In addition to this, the study analyzes latest trends across segments including product type, end user, distribution channel, and region for the forecast period (2023-2033).
Fact.MR – A Market Research and Competitive Intelligence Provider: The global rapeseed oil market size is estimated to be worth US$ 22.8 Billion in 2023. The market for rapeseed oil is anticipated to generate US$ 37.7 Billion in terms of revenue by 2033, at a 5.1% CAGR between 2023-2033.
Rapeseed's popularity as an ingredient has grown dramatically over the upcoming years, thanks to a range of product releases, as customers choose natural and healthful components. Due to its abundance in polyphenols, antioxidants, vitamins, and minerals, these products offer excellent nutritional value. Demand for organically sourced goods with a functional and health focus drives the growth of rapeseed oil.
Further, rapeseed oil is used extensively in personal care items including lotions, creams, and oils beyond the food business. Vitamin E and antioxidants are included in cosmetic products that aids in reducing scar tissue, restoring damaged hair, and treating skin diseases such as eczema and acne and also encouraging healthy skin. This will help in increasing the sales of rapeseed oil globally.
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In terms of application, rapeseed oil is extensively used for food processing and as per the study, maximum revenue in the market is expected to come from the same. Rapeseed oil that has been cold-pressed recently has gained recognition as a pure natural product that is produced without the addition of any chemicals, such as preservatives, colors, or dissolving agents.
Due to the significant consumption of the product in Asian countries, Asia Pacific is predicted to account for the highest market share in the global rapeseed oil market. Some of the key factors that are significantly contributing to Asia Pacific's growth include astonishingly booming food service industry and rising household demand for rapeseed oil.
However, the U.S. is expected to emerge as the most lucrative market over the assessment period as demand for healthy food alternatives is surging. As prevalence of lifestyle disorders such as diabetes, obesity, and others increases in the U.S., inclination towards healthy and nutritional food products is rising.
Key Takeaways:
- The U.S. is projected to grow at robust 7% CAGR between 2023-2033 (projected period).
- Europe is poised to expand at 5% CAGR throughout the forecasted period.
- Based on product type, the virgin segment is projected to exhibit growth at 6% CAGR in upcoming decade.
- By region, Asia Pacific is account to hold lion’s share in rapeseed oil market over the assessment period.
- In terms of application, the food service segment is poised to hold a sizeable portion in the rapeseed oil market.
Growth Drivers:
- Rising awareness about the health benefits of consuming rapeseed oil such as low cholesterol level and others is likely to boost the demand in upcoming decade.
- Growing rapeseed oil utilization for biofuel applications is likely to boost market potential.
- In the upcoming years, it is anticipated that rising demand for eco-friendly and sustainable fuels will provide lucrative opportunities for the market.
Restraints:
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Competitive Landscape:
As per the study, key companies are introducing various customized products with different nutritional values and clean-label ingredients to cater to the demand. To diversify their product offerings, numerous players are engaging in marketing campaigns such as digital marketing campaigns on social media. These companies are also collaborating with e-commerce platforms to improve their brand recognition.
For instance,
- In March 2022, natural-derived, plant-based rapeseed oil methyl ester Agri-PureTM AP-406 will be distributed, marketed, and sold throughout EMEA under a partnership agreement between ChemPoint and Cargill, Inc. The partnership's goal is to enhance Cargill's Agri-PureTM customers' entire experience.
- In April 2021, rapeseed oil will be tested for three months in place of diesel fuel on all trains operating the Paris-Granville route by SNCF Voyageurs in collaboration with the Normandy area.
Key Companies Profiled by Fact.MR
- American Vegetable Oils Inc.
- Cargill Inc.
- Louis Dreyfus Company
- Adani Wilmar Ltd.
- Grief Inc. (Olympic Oils Limited)
- Associated British Foods plc.
- Bunge Limited
- Adams Group Inc.
- Marico Limited
- Fuji Oil Holdings Inc.
- Archer Daniels Midland Company
- Borges International Group S.L.U
- Ruchi Soya Industries Limited
- ConAgra Foods (Agrotech Foods Ltd).
More Valuable Insights on Rapeseed Oil Market
In the latest study, Fact.MR offers a detailed study on global rapeseed oil market for the forecast period of 2023 to 2033. This study also highlights key drivers promoting the sales of rapeseed oil through detailed segmentation as follows:
By Product Type:
- Virgin
- Processed
By End User:
- Food Services
- Food Processors
- Retail
By Distribution Channel:
- Online Channels
- Modern Trade
- Franchise Outlets
- Specialty Stores
By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
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Key Questions Covered in the Rapeseed Oil Market Report
- What is the projected value of the rapeseed oil market in 2023?
- At what rate will the global rapeseed oil market grow until 2032?
- Which are the factors hampering the growth in the rapeseed oil market?
- Which region is expected to lead in the global rapeseed oil market during 2023-2033?
- Which are the factors driving the rapeseed oil market during the forecast period?
- What is the expected market value of the rapeseed oil market during the forecast period?
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