Asia Pacific Canola Oil Market was worth USD XX million in 2022 and estimated to be growing at a CAGR of XX%, to reach USD XX million by 2027. Canola Oil is a vegetable oil extracted from rapeseed, which is low in euric acid.
Canola oil is used for both industrial purposes and cooking purposes. It is used as biodiesel for industrial purposes. It offers many health benefits like rich source for omega 3 and omega 6 fatty acids that are good for heart. It is the third largest oil crop in the world. It also helps in lowering the levels of bad cholesterol due to its high content of oleic acid.Primary factors accounted for driving the market are increasing risk factors for cardiovascular diseases and increasing population of individuals affected with cardiovascular diseases, shifting consumer focus and preference towards healthy diet and low fat oils and increasing awareness regarding the health benefits of canola oil. On the other hand, expensive price of canola oil compared to other edible oils is the factor hindering the growth of market.
The Asia Pacific market for Canola Oil is segmented based on
Based on Application
China holds the major share in the market due to the presence of market leaders as well as the extensive use of canola oil for cooking purposes. Australia is the fastest-growing region due to increasing disposable income, growing awareness, and increasing adoption rate.
Based on the Application, Cooking purpose holds a major share in the market due to its higher smoke point than much other edible oil and its use in multiple cuisines. The Industrial Use segment is the fastest-growing one based on the application due to the increasing use of canola oil as biofuel and uses in cosmetics.
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