Canola Oil Market Growth and Forecast 2016 - 2024
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.
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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.
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.
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
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 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.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
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