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Rapeseed Oil Market Size Worth $48.1 Billion By 2025 | CAGR: 4.7% | Grand View Research, Inc.

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Rapeseed Oil Market Size Worth $48.1 Billion By 2025 | CAGR: 4.7% | Grand View Research, Inc.

November 17
23:12 2020
Rapeseed Oil Market Size Worth $48.1 Billion By 2025 | CAGR: 4.7% | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report by Grand View Research, Inc., The global rapeseed oil market size was valued at USD 34.9 billion in 2018. The product is expected to gain popularity as it is a source of antioxidant vitamin E and mono saturated fats. Consumers are increasing their spending on consuming a healthy diet and personal appearances.

The global rapeseed oil market size is expected to reach USD 48.1 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.7% over the forecast period. Growing popularity of rapeseed oil as a functional ingredient due to its rich content of vitamin E and essential fatty acids is projected to expand the market size in the nutritional industry. Furthermore, rising awareness regarding biofuels at the global level as a result of supportive government policies in developed economies including U.S. and Germany to promote production and consumption of naturally derived fuels is projected to open new avenues in the near future.

Amidst the global pandemic crisis and the indefinite lockdown across nations, the consumer food & beverage industry first witnessed high demand for household staples, healthy food items, and consumables with longer shelf lives. The demand for frozen food products, fruits & vegetables, eggs, flour, and whole grains, among others, witnessed a considerable increase during the early stages of the crisis. Presently, most companies in the industry are faced with low consumption of their products and supply chain challenges. The companies are focusing more on altering their supply chains in order to reinforce their online presence and delivery measures, in an attempt to adapt to the present business environment. The changes in consumer buying behavior and the dynamic shifts towards online and D2C distribution channels may have serious implications on the near future growth of the industry. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.

Food processing is expected to reach more than USD 30.0 billion by the end of 2025. Rising concerns over cardiovascular diseases among working class people at the global level as a result of hectic lifestyle are expected to expand the scope of nutritional enriched food products. As a result, the food processing companies are expected to increase spending on the inclusion of low fat and nutritional oilseeds including rapeseed as a functional ingredient in the formulation of their finished goods.

https://www.grandviewresearch.com/static/img/research/us-rapeseed-oil-market.png

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As of 2018, Asia Pacific was the largest rapeseed oil market, accounting for more than 40.0% share in terms of revenue and volume. Expansion of the middle class income groups in emerging economies including China and India is expected to expand the scope of rapeseed oil as a key constituent in formulation of various nutritional products and personal care goods. Furthermore, in April 2017, the National Commodity and Derivatives Exchange Ltd. (NCDEX) announced the trading for rapeseed mustard oil cake. This initiative is expected to open new avenues for new participants to enter the rapeseed oil value chain in the near future.

Further key findings from the report suggest:

  • Based on application, food processing accounted for 72.6% share of the global revenue in 2018
  • In terms of revenue, the bio-fuel application segment in rapeseed oil market is projected to ascend at a CAGR of 6.3% from 2019 to 2025. Demand for personal care was pegged at 2.9 million tons in 2018
  • In terms of revenue, North America is expected to expand at the fastest CAGR of 6.7% from 2019 to 2025.

Some of the key players operating in this market are Cargill, Incorporated, CCS Estates, Ola Oils, Mackintosh of Glendaveny, Sodrugestvo, Archer Daniels Midland Company, K. S. Oils Limited, SME Business Services Limited, and Walter Rau Neusser. Various manufacturers are concentrating on new product development and technological innovation as well as are investing in marketing campaigns to expand their product portfolio.

Over the past few years, consumer awareness has increased regarding hazardous effects associated with the saturated fat content in finished food and beverage products. Saturated fat can cause cholesterol to build up in arteries and it increases LDL cholesterol, which results in rising occurrences of heart disease and stroke. As per the report of the U.S. Department of Health & Human Services, around 610,000 people die annually due to heart disease in U.S.

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Furthermore, coronary heart disease (CHD) is the most common type of heart disease, which causes a death of over 370,000 people annually. Rapeseed oil is expected to emerge as a prominent oilseeds, which contains low saturated content as compared to other counterparts. Presence of low saturated fat content in the product reduces the occurrence of heart-related diseases.

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Rapeseed oil also finds application in the formulation of various skin care products particularly anti-ageing creams, bar soaps, facial moisturizers, body cleansers, body wash, conditioners, shampoos, moisturizers, facial cleansers sunscreens, and baby soaps. Furthermore, consumers are projected to prefer the use of mustard oil-based soaps in order to treat skin disease and reduce the occurrences of various associated allergies. Companies such as AAK Foodservice and SpecialChesm use rapeseed oil as an ingredient in the formulation of cosmetic care products.

For instance, Hong Kong-based company, Rotam produces sulfonylurea herbicide tolerant rapeseed in China to meet the demand for high quality, non-transgenic rapeseed oil. Similarly, in May 2019, U.K. based company, The Butterworks started offering spreadable butter made with extra virgin cold pressed rapeseed oil. The product became popular due to its cholesterol reducing and immune system boosting credentials.

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Many large and small level players are also investing in marketing campaigns to expand their product portfolio. For instance, England based food product manufacturer, Larchwood Foods advertise its products with the brand name of Mr Hugh’s rapeseed oil. Through marketing campaign, the company tries to switch consumer from extra virgin olive oil to cold pressed rapeseed oil. The company is also investing in many digital marketing, public relation, social media, and other mediums to promote product awareness.

Grand View Research has segmented the global rapeseed oil market on the basis of application:

Rapeseed Oil Application Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2015 – 2025)

  • Food Processing
  • Bio-fuel
  • Personal Care
  • Others

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

 

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