Global Rapeseed Market: Increasing Use of Rapeseed Oil by Middle Class Population to be Biggest Driver, reports TMR

A new report by Transparency Market Research on the global rapeseed market state that the use of rapeseed is increasing consistently among the middle-class people in most of the emerging nations. The use of rapeseed oil is increasing for preparing bio-fuel, as a fertilizer, and for cooking. The leftover of rapeseed plant is also used as an animal feed in many nations. The use of rapeseed oil is increasing for the production of ink that is used for printing. Rapeseed or rapa also finds application in various industrial, residential, and agricultural purposes, thus is growing in importance across many locations.

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The report, titled “Rapeseed Market - Global Industry Size, Market Share, Trends, Analysis, and Forecast 2016 - 2023,” states that the global market is expected to benefit from the entry of new manufacturers of rapeseed oil. Geographically, the global rapeseed market is divided into Asia Pacific, Europe, North America, and Rest of the World. Although the global rapeseed market is spread across many locations, key manufacturers are still facing licensing issues in many of the developing nations, which is a threat to the global market. The high cost of production of rapeseed oil and other products is also expected to hamper the growth of the global market throughout the forecast period.

As per the findings of the report, the governments of many nations are contributing on a large scale to increase the production of rapeseed oil. Governments of many nations are also investing funds to improve the production equipment and devices to increase the production, which is another factor expected to propel the global market in the long run. The growing application of rapeseed and its rising sales will propel the global market, says the analysts. Earlier, rapeseed was used for lighting purpose or as an essential lubricant.

Over the past four decades, the application of rapeseed has become diverse as it has entered the mainstream cooking. As rapeseed is a good source of vitamin E, unsaturated fatty acid, and omega3, it is being increasingly used for cooking. The rising use of rapeseed oil for cooking is expected to propel the global market throughout the forecast period. Considering its many health benefits, a big pool of middle-class people have started using rapeseed oil for cooking.

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The report also briefs readers about key companies operating in the global rapeseed market. Some of the leading companies listed in the report on the global rapeseed market are Hunan Vchen Oil and Fats Industry Co., Ltd, Archer Daniels Midland Company, Sunora Foods, and K S Oils.

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This release was published on openPR.