Global Canola Oil Market: Overview
The use of canola oil has increased over the years. Due to its high demand, the production of oil has also augmented remarkably. A considerable section of the population is switching to this oil due to its health benefits, especially for heart ailments. It contains omega-3 and omega-6 fatty acids that are good for heart. It is also the third-largest oil crop in the world. Canola oil is obtained from the seeds of rapeseed. Its usage can be found in the food industry, biofuels, and oleo chemicals.
On the basis of end use, canola oil can be segmented into retail, cosmetics, restaurants, and food processing. The retail segment holds the maximum market share. The cases of heart ailments are increasing and people are preferring to use safer and healthier alternatives such as canola oil. Plus, in the cosmetic industry, this is considered as a wonder oil for its multiple benefits.
In the report, Transparency Market Report (TMR) provides a detailed analysis of drivers and restrictions in the global canola oil market. It also delivers insight into the segments and regions of the market.
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Global Canola Oil Market: Drivers and Restraints
Canola oil has several health and beauty benefits. With a large section of the population suffering from cardiovascular diseases, canola oil is used widely due its omega-3 and omega-6 fatty acid contents. High oleic acid properties in canola oil aid in lowering the level of bad cholesterol without disturbing good cholesterol present in our body, thereby limiting the risk of heart ailments. The growing awareness about the goodness of canola oil is one of the crucial factors responsible for the growth of the market. Moreover, the use of canola oil in the cosmetic industry has increased exponentially. With its anti-aging properties, this oil is useful in controlling wrinkles, blemishes, acne, and fine lines. Another driving factor is the use of the remaining material as livestock feed, which is considered the second-most favored feedstock after soybean.
The prices of canola oil are comparatively higher than other edible oils available in the market, restricting its large-scale adoption. In addition, the readily available substitute, soybean, limits the growth of the global canola oil market.
Global Canola Oil Market: Regional Outlook
On the basis of region, the market can be segmented into Europe, Asia Pacific, North America, and Rest of the World. Europe accounts for the dominant share in the canola oil market. It is also the leading producer of canola oil in the world. Among the countries in the world, China comes in second, in terms of production volume, whereas, Canada leads in terms of total export of canola oil, this makes Asia Pacific and North America prominent regional players of the market.
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Canola oil is gaining prominence not only in developed economies, but in emerging economies as well. The market is growing by leaps and bounds due to heavy demand from retail sectors and strong distribution channels.
Companies Mentioned in Report
The market for canola oil is highly fragmented and with the growing demand, the competition is expected to get intense in the coming years. Some of the prominent players in the canola oil market are Archer Daniels Midland Company, Associated British Foods plc, Jivo Wellness Pvt. Limited, and The J.M. Smucker Company.
The Global Canola Oil Market is segmented as follows:
Global canola oil market, by Geography North America Asia Pacific Europe Rest of the World
This report gives you access to decisive data such as: Market growth drivers Factors limiting market growth Current market trends Market structure Market projections for the coming years
Key highlights of this report Overview of key market forces propelling and restraining market growth Up-to-date analyses of market trends and technological improvements Pin-point analyses of market competition dynamics to offer you a competitive edge An analysis of strategies of major competitors An array of graphics and SWOT analysis of major industry segments Detailed analyses of industry trends A well-defined technological growth map with an impact-analysis The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications. The study is a source of reliable data on: Market segments and sub-segments Market trends and dynamics Supply and demand Market size Current trends/opportunities/challenges Competitive landscape Technological breakthroughs Value chain and stakeholder analysis The regional analysis covers: North America (U.S. and Canada) Latin America (Mexico, Brazil, Peru, Chile, and others) Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg) Eastern Europe (Poland and Russia) Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand) Middle East and Africa (GCC, Southern Africa, and North Africa) The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain. A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period. Highlights of the report: A complete backdrop analysis, which includes an assessment of the parent market Important changes in market dynamics Market segmentation up to the second or third level Historical, current, and projected size of the market from the standpoint of both value and volume Reporting and evaluation of recent industry developments Market shares and strategies of key players Emerging niche segments and regional markets An objective assessment of the trajectory of the market Recommendations to companies for strengthening their foothold in the market Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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