According to IMARC Group’s latest report, Offers a comprehensive analysis of the industry, which comprises insights on Canola Oil Market Share. The global canola oil market reached a volume of 27.79 Million Tons in 2021. The report further projects the market to reach a volume of 30.60 Million Tons by 2027, growing at a CAGR of 1.47% during 2022-2027.
Its emergence can be accredited to the rising need of a cost-effective and healthy oil, particularly in the food industry. This is due to the fact that, in comparison with other oils, canola oil encompasses a significant amount of monosaturated fats. Moreover, canola oil is regarded as a great source of biodiesel.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Canola Oil Market Drivers:
Canola oil is trans-fat free in nature and encompasses only small amounts of saturated fats. As a result, it offers various health benefits such as lowering cholesterol, boosting heart health, improving brain function and preventing type-2 diabetes. This represents a major catalyst for the growth of the global canola oil market.
There has been an expansion in the applications of canola oil in the food industry where it is used for stir-frying, grilling, baking, sautéing, salad dressing and shortening. This is augmenting the demand for canola oil across the globe. Moreover, canola oil also finds applications in the non-food sector which is further proliferating the market growth. Canola oil is used for preparing plasticisers so as to provide higher velocity as well as in skincare and hair care products for imparting softening properties.
However, excess consumption of canola oil can increase the intake of unhealthy trans-fat. Apart from this, canola oil has a higher price point in comparison with other oils. This acts as one of the vital factors which is hindering the growth of the canola oil market.
Canola Oil Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
- Archer Daniels Midland Company
- Associated British Foods plc
- Jivo Wellness Pvt. Ltd.
- Arla Foods AmbA
- Richardson International Limited
- Cargill, Inc.
- The J.M. Smucker Company
- Bunge Limited
- Wilmar International Inc.
Key Market Segmentation:
The report has segmented the global canola oil market on the basis of application, packaging and region.
Breakup by Application:
- Processed Foods
- Personnel Care
Breakup by Packaging:
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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