About Canola Oil
Canola Oil is derived from various derivatives of Rapeseed Oil such as the black seeds of bright-yellow flowering plants from the Brassicaceae family, commonly known as oilseed rape plants and many others. It provides numerous health benefits such as reducing the risk of cardiovascular diseases as it contains low cholesterol levels. And, it is a rich source of vitamin E and antioxidants which help to repair hair damaged, skin damage, and others. Further, increasing applications of rapeseed oil in cosmetic products such as lotion, oil, and creams driving the demand for rapeseed oil. In addition, growing demand from developing economies and increasing availability at retail stores is expected to drive the demand for rapeseed oil over the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.75% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Vendors having a strong hold in the market are Louis Dreyfus Company, Archer Daniels Midland Company, Cargill, Bunge Limited, and Richardson Oilseed Lethbridge. Analyst at AMA Research estimates that North American Vendors will contribute the maximum growth to Global Canola Oil market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Louis Dreyfus Company B.V. (Netherlands), Archer Daniels Midland Company (ADM) (United States), Cargill, Incorporated (United States), Bunge Limited (United States), Richardson Oilseed Lethbridge (Canada), The J.M. Smucker Company (United States), Viterra Inc. (Canada), Al Ghurair Group (United Arab Emirates), CHS Inc. (United States), Viterra Inc. (Canada), Oliyar (Ukraine) and Wilmar International Limited (Singapore) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are COFCO Group (China), Chinatex Corporation (China), Zhongsheng Group Holdings Limited (China), H Best Ltd Inc (United States), Yingcheng Hongxiang Chemical Co Ltd (China) and Daodaoquan Grain and Oil Co Ltd (China).
Segmentation Overview
AMA Research has segmented the market of Global Canola Oil market by Type (Organic and Conventional), Application (Cooking, Processed Foods, Lubricants, Personnel Care, Biofuels and Others) and Region.
On the basis of geography, the market of Canola Oil has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Supermarkets will boost the Canola Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Packaging, the sub-segment i.e. Bottles will boost the Canola Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Adoption of Healthier Food Products with Low Levels of Fatty Acids and Growing Prevalence of Distribution through Online Superstores will Upsurge Business Growth
Market Growth Drivers:
Increasing Demand due to Comparatively Higher Nutritional Value and Taste and Consumption of Canola Oil Helps in Cutting Down Cholesterol Levels
Challenges:
Availability of Substitute Organic Oil Products which are comparatively Cheaper than Canola Oil
Restraints:
Some of the Canola Oil Products Contains Trans Fats which will lead to Decrease HDL (good) cholesterol and Increase Inflammation and Contains a Volatile Ratio of Omega-6 to Omega-3 Fatty Acids
Opportunities:
Properly Refined and Genetically Modified Nature of Canola Oil will increase the Demand
Market Leaders and their expansionary development strategies
In November 2022 – BASF is expanding its high oleic canola seed production and processing business in North America through the completed acquisition of Cargill’s Idaho Falls seed production facility. This acquisition will expand the production capacity and reliability for InVigor Health hybrids. InVigor Health hybrids yield a seed that produces a specialty oil profile that is more heat stable and higher in oleic acid content.
In December 2023, Nuseed Nutritional US Inc., a wholly owned subsidiary of Nufarm Limited selected Connoils as the exclusive partner for producing and distributing Nutriterra DHA Canola oil in powder formats. This new format expands potential applications for the world’s first plant-based source of total omega-3 oil, including beverages and functional foods. Nutriterra is also FDA approved as a New Dietary Ingredient for use in dietary supplements.
“Regulation (EU) No. 1169/2011 sets new provisions for the labeling of refined vegetable oils and fats. From 13 December 2014, this European legislation obliges to declare all individual oils present in food products on the label. It is still possible to use the class name ‘vegetable oils’ and ‘vegetable fats’ for refined vegetable oils and fats, but this class name should directly be followed in brackets by a list indicating their specific vegetable origin.”
Key Target Audience
Canola Oil Manufacturers, Canola Oil Distributors and Suppliers, Upstream and Downstream Buyers, International Traders, Nutritional Food Manufacturers, Food Regulatory Agencies, Industry Associations, Research and Development Agencies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.