Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Rapeseed Oil market.
Trusted Business Insights presents an updated and Latest Study on Rapeseed Oil Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Rapeseed Oil market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Industry Insights, Market Size, CAGR, High-Level Analysis: Global Rapeseed Oil Market
The global rapeseed oil market size was valued at USD 34.9 billion in 2018. The product is expected to gain popularity as it is a source of antioxidant vitamin E and mono saturated fats. Consumers are increasing their spending on consuming a healthy diet and personal appearances. As a result, rapeseed oil is expected to act as a key functional ingredient in the formulation of various food products and cosmetic goods on account of its benefits in maintaining personal hygiene and nutritional enrichment in human body.
Over the past few years, consumer awareness has increased regarding hazardous effects associated with the saturated fat content in finished food and beverage products. Saturated fat can cause cholesterol to build up in arteries and it increases LDL cholesterol, which results in rising occurrences of heart disease and stroke. As per the report of the U.S. Department of Health & Human Services, around 610,000 people die annually due to heart disease in U.S.
Furthermore, coronary heart disease (CHD) is the most common type of heart disease, which causes a death of over 370,000 people annually. Rapeseed oil is expected to emerge as a prominent oilseeds, which contains low saturated content as compared to other counterparts. Presence of low saturated fat content in the product reduces the occurrence of heart-related diseases.
Rapeseed oil also finds application in the formulation of various skin care products particularly anti-ageing creams, bar soaps, facial moisturizers, body cleansers, body wash, conditioners, shampoos, moisturizers, facial cleansers sunscreens, and baby soaps. Furthermore, consumers are projected to prefer the use of mustard oil-based soaps in order to treat skin disease and reduce the occurrences of various associated allergies. The companies such as AAK Foodservice and SpecialChesm use rapeseed oil as an ingredient in the formulation of cosmetic care products.
Application Insights of Global Rapeseed Oil Market
Food processing held the largest share, accounting for 72.6% share of the global revenue in 2018. Over the past few years, cold-pressed rapeseed oil has emerged as a clean natural product, which is manufactured without the use of any chemical substances such as dissolving agents, colors, and preservatives. The product is used as a functional ingredient in preparation of various products including mayonnaise, salad dressings tartar sauce, and cream cheese spreads on account of presence of nutritional constituents.
A large population of South Asian countries including Vietnam use this ingredient in food processing due to its exceptional smell and taste. Rapeseed also finds utility as a functional ingredient in the canning, baking, and poultry industries. For instance, Czech Republic based bakery company, Bakery Jan Hankovec use rapeseed oil to manufacture baking products.
The biofuel segment is expected to expand at a revenue-based CAGR of 6.3% from 2021 to 2026. Major factors driving the rapeseed oil market include ease of manufacturing biodiesel from rapeseed due to its ability to tolerate temperature changes more than other oilseeds. Furthermore, high melting point and low acid content reduces the process time during processing of oilseeds. Fluctuating crude oil prices, coupled with rising awareness regarding reducing the consumption of petroleum-based gasoline and diesel at the global level, is projected to promote the utility of rapeseed oil as a biodiesel ingredient as it is said to be five times biodegradable as compared to other fuels.
Regional Insights of Global Rapeseed Oil Market
As of 2018, Asia Pacific accounted for exceeding 40.0% share in terms of revenue and volume. Large number of consumers in this region use rapeseed oil in their staple food. In addition, a large number of food processing companies use rapeseed oil in their products. Increasing consumer awareness about healthy lifestyle and growing disposable income, especially in developing countries such as China and India, are expected to remain favorable for the industry growth in the coming years. China is considered to be a key producing country of rapeseed. In 2018, around 13.95 million metric tons of rapeseed was produced in China.
North America is expected to expand at the fastest CAGR of 6.7% from 2021 to 2026 in terms of revenue. It has been observed that the consumption of rapeseed oil is increasing in residential as well as industrial applications. U.S. is expected to witness significant growth in the coming years as a result of strong foothold of food processing units at the domestic level. Furthermore, increasing acceptance of natural oilseeds as functional ingredients in the manufacturing of personal care products in U.S. is projected to have a strong impact on the market growth in the near future.
Rapeseed Oil Market Share Insights
Some of the key players operating in this market are Cargill, Incorporated, CCS Estates, Ola Oils, Mackintosh of Glendaveny, Sodrugestvo, Archer Daniels Midland Company, K. S. Oils Limited, SME Business Services Limited, Walter Rau Neusser, and INTERFAT. Companies are introducing different types of products in the market by understanding the demand of the product.
For instance, Hong Kong based company, Rotam produces sulfonylurea herbicide tolerant rapeseed in China to meet the demand for high quality, non-transgenic rapeseed oil. Similarly, in May 2019, U.K. based company, The Butterworks started offering spreadable butter made with extra virgin cold pressed rapeseed oil. The product became popular due to its cholesterol reducing and immune system boosting credentials.
Many large and small level players are also investing in marketing campaigns to expand their product portfolio. For instance, England based food product manufacturer, Larchwood Foods advertise its products with the brand name of Mr Hughs rapeseed oil. Through marketing campaign, the company tries to switch consumer from extra virgin olive oil to cold pressed rapeseed oil. The company is also investing in many digital marketing, public relation, social media, and other mediums to promote product awareness.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Global Rapeseed Oil Market Research Report
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global rapeseed oil market report on the basis of application and region:
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2019 – 2030)
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