Middle East and Africa Canola Oil Market is expected to be worth USD 1.94 billion in 2024 and estimated to be growing at a CAGR of 4.32%, to reach USD 2.41 billion by 2029.
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.
This Research Report on Middle East and Africa Canola Oil Market is segmented, and sub segmented into following categories
Middle East and Africa Canola Oil Market By Application
Based on Application, Cooking purpose holds the major share in the market due to its higher smoke point than many other edible oil and its use in multiple cuisines. Industrial Use segment is the fastest growing one based on application due to increasing use of canola oil as biofuel and uses in cosmetics.
Middle East and Africa Canola Oil Market By Region
Based on geographical analysis, the market is divided into regions of Middle East and Africa. Middle East holds the major share in the market due to presence of market leaders as well as extensive use of canola oil as for cooking purposes. Middle East is also the fastest growing region due to increasing disposable income, growing awareness and increasing adoption rate.
KEY PLAYERS IN MIDDLE EAST AND AFRICA CANOLA OIL MARKET
Key players in Middle East and Africa Canola Oil Market are Archer Daniel Midland Company, Associated British Foods, Burge, Cargill, Wilmar International, Conagra Foodservice, DalmiaShop, Huiles TITAN OILS, Jivo Wellness, Richardson International.
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