North America Rapeseed Oil Market was worth USD 10.88 billion in 2022, and is expected to grow at a CAGR of 5.2%, to reach USD 14.01 billion by 2028.
Rapeseed Oil is extracted from rapeseed plants. It is edible vegetable oil with exceptional health and nutritional benefits. It is the world’s third largest source of vegetable oil.
Apart from producing vegetable oil, it is also used to produce biodiesel and animal feed. The oil contains high protein content, next only to the soy bean oil. It contains the lowest saturated fat of all vegetable oils and Vitamin E also. Rapeseed oil finds its applications in many fields such as food processing and cosmetics and personal care products manufacturing. It is also used as a bio diesel as an alternative to fossil fuel diesel.
Increasing prevalence of cardio vascular diseases resulted in need for products with low cholesterol content. Increase in demand for edible oils which contain low amount of saturated fatty acids is majorly expected to drive the rapeseed oil market. Changing life styles of consumers, increase in demand for nutritional foods and rising demand for healthy food are also expected to boost the rapeseed oil market. However, lack of minerals and availability of other highly produced alternatives such as soy and palm oils are expected to hinder the market growth.
The Rapeseed Oil Market is categorized based on the extraction process, application and region. Based on extraction process, the market is categorized into aqueous process and enzyme based process. Aqueous process holds the largest market share as its cost effectiveness and other advantages. Enzyme based process is expected to be the fastest growing segment as it increases the yield many times compared to the aqueous process. Based on application, the market is categorized into Food Processing, Bio-Fuel, Cosmetics, Personal care Products and Others. Food processing holds the largest market share as rapeseed oil contains high amount of unsaturated fatty acids resulting in low cholesterol. Food processing segment is again categorized into vegetable recipes, Oil Cake, Meat Recipes and Others. Cosmetics and Personal care products is also again categorized into Creams, Lotions, Oils and Others.
Geographically the North America Rapeseed Oil Market is segmented into US, Canada, Mexico and Rest of North America. U.S. leads the market due to the high consumption of rapeseed oil due to the health benefits acquired. It is also because U.S has huge population of people with cardiovascular diseases. Canada is the fastest growing market for rapeseed oil as it is one of the largest producers of the oil.
Key Players in the Market:
Major Key Players in the North America Rapeseed Oil Market are
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