The Canola Oil Market is projected to reach $50.16 million by 2032, growing at a CAGR of 5.6%.

The global canola oil market was valued at USD 29.24 million in 2022 and is expected to grow to USD 50.16 million by 2032, at a CAGR of 5.6% between 2023 and 2032.

Market Overview
Canola oil, also known as rapeseed oil, is a type of vegetable oil. Initially canola oil was refrained from usage due to the high level of erudic acid which is prevalent in the seed from which this oil is produced. It caused permanent damage to cardiac muscles in animals, which in turn could have caused damage to humans. However, in recent years, food grade version of canola oil has been produced, which has low acidic content. The nonfood grade version is known as colza oil. Canola oil has applications besides food, such as biodiesel production, industrial lubricants and as a feedstock for plastics.

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Growth Drivers
• The growing shift among major manufacturers of personal care and cosmetics products towards the incorporation of canola oil into their beauty and skincare products due to its moisturizing properties, ability to reduce the appearance of wrinkles, treatment of acne, increase the injury healing rate, and protect the skin from free radicals, has been acting as a major driver for the global canola oil market.
• Key companies operating in the life science industry are stimulating the development and advancement of new canola varieties, which help farmers boost their yield likely to create lucrative growth opportunities for the market.

Major Participants
Many companies are diving into the lucrative market of canola oil. This is due to the various benefits the market offers in terms of health.
• Adani Wilmar Ltd.
• Ruchi Soya Industries Ltd.
• Cargill Inc.
• Bunge Limited
• Fuji Vegetable Oil Inc.
• Associated British Foods
• Archer Daniel Midland Company
• Conagra Foodservice
• Richardson International

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Canola Oil Market Report Highlights
• Processed segment accounted for largest market share in 2022, which is mainly driven by growing adoption of product as a key ingredient in various types of packaged food products
• Foodservice segment held the maximum market revenue share in 2022, on account of its beneficial properties including low saturated fats and adoption as a low-cost and more efficient alternative to other cooking oils
• Online segment is expected to grow at significant growth rate during the anticipated period, mainly due to increased number of internet users and high prevalence for online shopping due to its convenience
• North America region dominated the global market with substantial market share in 2022, owing to rising product incorporation in various cosmetics products and availability of several favorable government regulations

Segmental Analysis
• The canola oil market is segmented based on product type, end user, distribution channel, and region.
• The product type segment is bifurcated into processed and virgin. The processed segment accounted for the largest market share in 2022.
• The end user segment is categorized into foodservice, retail, and food processors. The foodservice segment held the majority market revenue share in 2022.
Canola Oil Market, Product Type Outlook (Revenue - USD Million, 2019-2032)
• Processed
• Virgin
Canola Oil Market, End User Outlook (Revenue - USD Million, 2019-2032)
• Foodservice
• Retail
• Food Processors
Canola Oil Market, Distribution Channel Outlook (Revenue - USD Million, 2019-2032)
• Modern Trade
• Online
• Specialty Stores
• Franchise Outlets

Regional Overview
• North America
o Product Type Outlook
 Processed
 Virgin
o End User Outlook
 Foodservice
 Retail
 Food Processors
o Distribution Channel Outlook
 Modern Trade
 Online
 Specialty Stores
 Franchise Outlets
• Europe
o Product Type Outlook
 Processed
 Virgin
o End User Outlook
 Foodservice
 Retail
 Food Processors
o Distribution Channel Outlook
 Modern Trade
 Online
 Specialty Stores
 Franchise Outlets

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