TechSci Research’s “Canola Oil Market – Global Industry Trends, Size, Share, Competition Forecast & Opportunities, 2028″ reveals that the Global Canola Oil Market reached USD 32.09 billion in 2022, with an expected 5.52% CAGR during 2024-2028. This market has evolved significantly due to changing consumer tastes, health awareness, and sustainability considerations. Extracted from canola plant seeds, canola oil is renowned for its nutritional value, boasting low saturated fat and high levels of monounsaturated fats and omega-3 fatty acids. Widely adopted in kitchens worldwide, the market dynamics revolve around five key aspects.
Driven by its reputation as a heart-healthy cooking oil, the global canola oil market has seen steady growth. As health-conscious consumers seek well-being-aligned dietary choices, canola oil becomes a preferred option. The market’s expansion is further propelled by growing populations in emerging economies, where urbanization and evolving dietary preferences fuel the demand for healthier cooking oils. Canola oil’s versatility in culinary applications, including frying, baking, and salad dressings, contributes to its sustained growth, establishing it as a kitchen essential in many households.
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Canola oil, despite its consistent growth, contends with alternative cooking oils like olive oil, avocado oil, and coconut oil. These alternatives, known for distinct flavors and perceived health benefits, appeal to health-conscious consumers. Market dynamics reflect regional preferences, introducing competition among various oils favored in different culinary traditions. Canola oil producers need to counter this competition through innovation, product distinctiveness, and effective communication of their oil’s health advantages and versatility.
Operational within a intricate regulatory landscape globally, the canola oil market faces diverse labeling requirements and standards across regions. Adhering to these regulations, covering nutritional details, allergen declarations, and sustainability claims, poses a challenge impacting market access and product development. Navigating these regulatory complexities requires ongoing vigilance and adaptation to changing requirements.
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The Global Canola Oil Market is categorized by nature, application, sales channel, regional distribution, and company.
In terms of nature, the market divides into organic and conventional. Notably, there’s a significant uptick in demand for conventional canola oil due to its affordability and versatile appeal, making it a favored choice for both consumers and food manufacturers. Its neutral flavor and high smoke point position conventional canola oil as a staple in households and foodservice establishments globally, suitable for diverse cooking applications. As awareness of its heart-healthy properties grows, conventional canola oil maintains its enduring popularity in the market.
Regarding application, the market segments into processed food, household, personal care, and others.
In the sales channel category, segmentation includes supermarkets/hypermarkets, departmental stores, online, and others.
Regionally, the market is divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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- Canola Oil Market is expected to grow at a CAGR of 5.52% during the forecast period.
- Canola Oil Market has a valuation of US$ 32.09 Billion as of 2022.
- Asia Pacific currently holds the title of the largest market for Canola Oil Market.
- Canola Oil Market is witnessing a remarkable surge in demand from online sales channels.
- In terms of type, the cages segment claims the top spot in Canola Oil Market share.
- When considering the sales channel, the online retailers segment takes the lead in market share.
- Focusing on the price range, the premium segment secures the highest market share in the Canola Oil Market.
Competitive Landscape: Top of Form
TechSci Research’s Global Canola Oil Market report provides customizable insights based on market data, allowing tailored adjustments to meet specific company requirements. Customization options for the report include: Top of Form
Recent Developments
- In 2023, Spectrum Naturals introduced a range of canola oil cooking oils. Crafted with expeller-pressed canola oil, these oils are devoid of artificial flavors, colors, and preservatives. The lineup includes three varieties: Light, Extra Light, and Unrefined.
- In 2022, Pompeian rolled out a series of canola oil cooking sprays. Formulated with 100% canola oil, these sprays are free from trans fats, cholesterol, and saturated fat. The available flavors consist of Original, Olive Oil, and Garlic.
Major companies operating in Global Canola Oil Market are:
Archer Daniels Midland (ADM) Company, Bunge Limited, Jivo Wellness Pvt. Ltd., Arla Foods AmbA, Cargill Inc., Associated British Foods plc, The J.M. Smucker Company, Richardson International Limited, Wilmar International Inc, American Vegetable Oils
Market Segmentation for Canola Oil Market:
- Canola Oil Market, By Nature:
- Organic
- Conventional
- Canola Oil Market, By Application:
- Processed Food
- Household
- Personal Care
- Others
- Canola Oil Market, By Sales Channel:
- Supermarkets/Hypermarkets
- Departmental Stores
- Online
- Others
- Canola Oil Market, By Region:
- Asia-Pacific
- China
- Japan
- India
- Vietnam
- South Korea
- North America
- United States
- Canada
- Mexico
- Europe
- France
- Germany
- Spain
- Italy
- United Kingdom
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Turkey
- South America
- Brazil
- Argentina
- Colombia
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Table of Content
- Introduction
1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
- Voice of Customer
4.1. Brand Awareness
4.2. Factors Influencing Purchase Decision
- Global Canola Oil Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Nature Market Share Analysis (Organic, Conventional)
5.2.2. By Application Market Share Analysis (Processed Food, Household, Personal Care, Others)
5.2.3. By Sales Channel Market Share Analysis (Supermarkets/Hypermarkets, Departmental Stores, Online, Others)
5.2.4. By Regional Market Share Analysis
5.2.4.1. Asia-Pacific Market Share Analysis
5.2.4.2. North America Market Share Analysis
5.2.4.3. Europe Market Share Analysis
5.2.4.4. Middle East & Africa Market Share Analysis
5.2.4.5. South America Market Share Analysis
5.2.5. By Top 5 Companies Market Share Analysis, Others (2022)
5.3. Global Canola Oil Market Mapping & Opportunity Assessment
5.3.1. By Nature Market Mapping & Opportunity Assessment
5.3.2. By Application Market Mapping & Opportunity Assessment
5.3.3. By Sales Channel Market Mapping & Opportunity Assessment
5.3.4. By Regional Market Mapping & Opportunity Assessment
- Asia-Pacific Canola Oil Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Nature Market Share Analysis
6.2.2. By Application Market Share Analysis
6.2.3. By Sales Channel Market Share Analysis
6.2.4. By Country Market Share Analysis
6.2.4.1. China Canola Oil Market Outlook
6.2.4.1.1. Market Size & Forecast
6.2.4.1.1.1. By Value
6.2.4.1.2. Market Share & Forecast
6.2.4.1.2.1. By Nature Market Share Analysis
6.2.4.1.2.2. By Application Market Share Analysis
6.2.4.1.2.3. By Sales Channel Market Share Analysis
6.2.4.2. Japan Canola Oil Market Outlook
6.2.4.2.1. Market Size & Forecast
6.2.4.2.1.1. By Value
6.2.4.2.2. Market Share & Forecast
6.2.4.2.2.1. By Nature Market Share Analysis
6.2.4.2.2.2. By Application Market Share Analysis
6.2.4.2.2.3. By Sales Channel Market Share Analysis
6.2.4.3. India Canola Oil Market Outlook
6.2.4.3.1. Market Size & Forecast
6.2.4.3.1.1. By Value
6.2.4.3.2. Market Share & Forecast
6.2.4.3.2.1. By Nature Market Share Analysis
6.2.4.3.2.2. By Application Market Share Analysis
6.2.4.3.2.3. By Sales Channel Market Share Analysis
6.2.4.4. Vietnam Canola Oil Market Outlook
6.2.4.4.1. Market Size & Forecast
6.2.4.4.1.1. By Value
6.2.4.4.2. Market Share & Forecast
6.2.4.4.2.1. By Nature Market Share Analysis
6.2.4.4.2.2. By Application Market Share Analysis
6.2.4.4.2.3. By Sales Channel Market Share Analysis
6.2.4.5. South Korea Canola Oil Market Outlook
6.2.4.5.1. Market Size & Forecast
6.2.4.5.1.1. By Value
6.2.4.5.2. Market Share & Forecast
6.2.4.5.2.1. By Nature Market Share Analysis
6.2.4.5.2.2. By Application Market Share Analysis
6.2.4.5.2.3. By Sales Channel Market Share Analysis
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