According to IMARC Group’s latest report, titled “Canola Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028″, offers a comprehensive analysis of the industry, which comprises insights on the canola oil market trends.
The global canola oil market size reached 28.3 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 31.0 Million Tons by 2028, exhibiting a growth rate (CAGR) of 1.38% during 2023-2028. Canola oil or rapeseed oil is a food-grade oil derived from rapeseed cultivars bred for low erucic acid content. It is extracted by heating the crushed canola seeds dissolved in the hexane solvent, which is then refined using organic acid and water precipitation to remove gums, fatty acids, and color. It is an excellent source of vitamins K and E, monosaturated fats, omega-6 and omega-3, and fatty and oleic acids. It offers several health benefits, such as reducing inflammation, improving metabolism, and strengthening immunity, especially against heart attacks and strokes. When compared with other vegetable oils, canola oil contains lower amounts of saturated and trans fats, due to which it widely used in the preparation of various food products.
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Global Canola Oil Market Trends:
The rising product application in the personal care and cosmetics industries due to its anti-aging properties is one of the key factors primarily boosting the market growth. Moreover, the surging prevalence of cardiovascular diseases due to sedentary lifestyle has facilitated the demand for canola oil due to its various advantageous properties, which is creating a positive outlook for the market. Furthermore, the easy product availability in online retail stores and the introduction of new product variants by key players are providing an impetus to the market growth.
Canola Oil Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the canola oil market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Archer Daniels Midland Company
- Associated British Foods plc
- Jivo Wellness Pvt. Ltd.
- Arla Foods AmbA
- Richardson International Limited
- Cargill, Inc.
- The J.M. Smucker Company
- Bunge Limited
- Wilmar International Inc.
Key Market Segmentation:
The report has segmented the global canola oil market on the basis of application, packaging and region.
Breakup by Application:
- Processed Foods
- Personnel Care
Breakup by Packaging:
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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