Bottles with canola oil on a wooden table in the rapeseed field
Overview and Scope
Rapeseed oil is plant-based cooking oil that is part of the brassica family, which includes cabbage and mustard. Rapeseed oil tastes nutty, buttery, and earthy. Rapeseed, which is low in saturated fat, has been widely recognized for its health benefits and other nutritional extras, such as Omegas 3, 6, and 9, which can help maintain a healthy brain, heart, and joint functions.
Sizing and Forecast
The rapeseed oil market size has grown strongly in recent years. It will grow from $24.81 billion in 2023 to $26.27 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to growing demand for edible oils, healthy oil perception, biodiesel production, expansion of rapeseed cultivation, diverse applications, nutritional benefits, cooking oil preferences.
The rapeseed oil market size is expected to see strong growth in the next few years. It will grow to $32.78 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to shift towards plant-based diets, rising health consciousness, clean label preferences, global population growth, trade agreements and tariffs. Major trends in the forecast period include technological innovations, sustainable and organic production practices, innovations in processing technologies, quality certification and traceability, market challenges from alternative oils..
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Segmentation & Regional Insights
The rapeseed oil market covered in this report is segmented –
1) By Type: Processed, Virgin
2) By Nature: Organic, Conventional
3) By Extraction Process: Aqueous Process, Enzyme Based Process
4) By Distribution Channel: Supermarkets And Hypermarkets, Online Stores, Specialty Stores, Retail Stores, Other Distribution Channels
5) By End-Use: Food And Beverage, Cosmetics And Personal Care Products, Biodiesel, Animal Feed, Household (Retail)
Asia-Pacific was the largest region in the rapeseed oil market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the rapeseed oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
An increase in demand for biodiesel is expected to propel the growth of the rapeseed oil market going forward. Biodiesel is a biodegradable, renewable fuel produced domestically from vegetable oils, animal fats, or recycled restaurant grease. Biodiesel energy is produced using oil from rapeseed or canola seed, two edible crop kinds. Canola or edible rapeseed biodiesel gels at a lower temperature than biodiesel derived from other feedstocks, making canola biodiesel a better fuel for colder climates. For instance, according to an article published by the Union for the Promotion of Oil and Protein Plants (UFOP), a Germany-based organization responsible for oil and protein crop cultivation, processing, and marketing, the consumption of biodiesel and hydrotreated vegetable oil for blending was estimated to be over 1.23 million tons in the first half of 2022. This represents a 6.3% increase over the same period in 2021. Therefore, an increase in demand for biodiesel is driving the growth of the rapeseed oil market.
Key Industry Players
Major companies operating in the rapeseed oil market are focused on introducing advanced products, such as high-quality canola protein isolate, to gain a competitive edge in the market. High-quality canola protein isolate, derived from canola seeds, is used as an alternative to other proteins for human food use due to its balanced amino acid profile and potential functional properties such as emulsifying, foaming, and gelling abilities. For instance, in November 2022, Royal DSM, a Netherlands-based chemicals company, launched Vertis CanolaPRO, a high-quality canola protein isolate. Canola seeds, also known as rapeseeds, are one of the world’s few available plant sources of complete protein, meaning they contain all nine essential amino acids needed for optimal health. Vertis CanolaPRO allows food and beverage manufacturers to create plant-based goods with complete proteins and zero significant allergies.
The rapeseed oil market report table of contents includes:
1. Executive Summary
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