IMARC Group, a leading market research company, has recently releases report titled “Canola Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032″, The study provides a detailed analysis of the industry, including the global canola oil market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the canola oil market?
The global canola oil market size reached 28.8 Million Tons in 2023. Looking forward, IMARC Group expects the market to reach 32.2 Million Tons by 2032, exhibiting a growth rate (CAGR) of 1.1% during 2024-2032.
Canola oil represents an edible vegetable oil that is extracted from rapeseed, which belongs to the Brassicaceae family. It acts as a rich source of monosaturated fats, vitamin E, omega-3 and omega-6 fatty acids, etc. As compared to other vegetable oils, canola oil contains lower amounts of saturated and trans-fats. Consequently, it provides several health benefits, such as improving metabolism, reducing inflammation, assisting in the overall development of infants, protecting against heart attacks and strokes, etc. In addition to this, canola oil is extensively utilized in the preparation of several food products in both the commercial and the residential sectors.
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Canola Oil Market Trends:
The increasing incidences of cardiovascular diseases and the rising consumer health consciousness are primarily driving the canola oil market. Additionally, the widespread adoption of this oil as a cooking oil and salad dressing, as it contains a high amount of oleic acid that assists in lowering the cholesterol levels present in the body, is further bolstering the market growth. Besides this, the growing utilization of canola oil in the personal care industry, owing to its anti-aging properties, which help in reducing fine lines, wrinkles, blemishes, etc., is acting as another significant growth-inducing factor. Moreover, the inflating popularity of canola oil for baking, stir-frying, grilling, sautéing, salad dressing, and shortening is positively influencing the global market. Apart from this, the escalating demand for plasticizers to offer higher velocity is stimulating the market growth. Furthermore, it is also used as livestock feed for providing fiber, vitamins, and minerals to the animals, which is anticipated to fuel the canola oil market over the forecasted period.
Canola Oil Market 2024-2032 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the canola oil market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- 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:
- Cooking
- Processed Foods
- Lubricants
- Personnel Care
- Biofuels
- Others
Breakup by Packaging:
- Cans
- Drums
- Bottles
- Pouches
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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