Global Rapeseed Oil Market Size, Share, Trends & Growth Forecast Report - Segmented By Extraction Process (Aqueous Process And Enzyme Based Process), Application (Food Processing (Vegetable Recipes, Meat Recipes, Oil Cakes), Bio-Fuel, Cosmetics And Personal Care Products (Lotions, Creams, Oils)), And Region (North America, Europe, APAC, Latin America, Middle East And Africa) – Industry Analysis (2024 To 2029)

Updated On: June, 2024
ID: 3980
Pages: 175

Global Rapeseed Oil Market Size (2024 To 2029)

The size of the global rapeseed oil market is expected to be worth USD 38.53 billion in 2024 and grow at a CAGR of 4.7% from 2024 to 2029 to achieve USD 48.48 billion by 2029.

Rising popularity of rapeseed oil market growth CAGR of 4.7% to achieve USD 48.48 Billion by 2029

Rapeseed, also known as Brassica napus (scientific name), is a bright yellow flower grown mainly for orange seeds and is the third-largest source of vegetable oil. Rapeseed oil is an oil extract derived from the black seeds of light-yellow plants, commonly known as rapeseed flower plants. Rapeseed plants are widely cultivated worldwide for oil-rich seeds and offer several benefits. Rapeseed oil is extracted from the black and red seeds of rapeseed plants. Rapeseeds are widely cultivated as oil-rich seeds that provide many health benefits when used in food processing. Rapeseed contains 40% oil and is generally obtained by pre-pressing or solvent extraction.

CURRENT SCENARIO OF THE GLOBAL RAPESEED OIL MARKET

The global rapeseed oil market is expected to grow significantly during the forecast period due to changes in consumers' use of vegetable oil. Copra, cottonseed, palm kernels, peanuts, soybeans, sunflower seeds, and rapeseed are the main oilseeds used to extract vegetable oil. Rapeseeds have a higher oil content than other oilseeds, so vegetable oils are extracted for domestic and industrial purposes and cultivated as raw material for biofuel production. Rapeseed contains 40% oil and is generally obtained by pre-pressing or solvent extraction. Rapeseed has a variety of industrial applications, such as those used in the manufacture of biodiesel cosmetics, as well as personal care products. Rapeseed oil is widely applied in the food industry and is followed by personal care products due to its nutritional benefits. The presence of vitamin E and antioxidants in rapeseed oil reduces scar tissue. It restores damaged hair and skin conditions, such as itching, eczema, and acne, which are applied to manufacture various cosmetic and personal care products. The wide applications of rapeseed oil in several industries will provide market growth opportunities.

MARKET DRIVERS

Changes in eating habits have increased health awareness, and consumers' taste preferences have fuelled market demand and production of rapeseed oil worldwide.

 Rapeseed oil has proven to be the healthiest oil, contributing to market demand growth for rapeseed oil. It is gaining popularity because of its source of antioxidants, vitamin E and monounsaturated fats, and omega-3 fatty acids, which boosts the adoption of rapeseed oil, leading to market revenue growth. The people's growing disposable incomes allow them to invest in healthy and nutritional foods and personal care. As a result, rapeseed oil is expected to act as a key functional ingredient in the formulations of various foods and cosmetics due to the benefits of maintaining human body hygiene and nutritional strengthening. The benefits of rapeseed oil are accelerating the global market share growth. The rapeseed oil is in high demand in the biofuel industry, primarily fueling the market growth opportunities.

Consumer awareness of the harmful effects associated with saturated fat content in finished products and beverages has increased. Saturated fat accumulates cholesterol in the arteries and increases LDL cholesterol, which induces the incidence of heart disease and stroke. These scenarios enhance the adoption of health-beneficial rapeseed oil, propelling the expansion of the market size. Rapeseed oil finds immense applications in skincare products

like soaps, moisturizers, anti-aging creams, shampoos, conditioners, body cleansers, sunscreens, bay solvents, and others, which is enlarging the rapeseed demand in the cosmetic industry, multiplying the market revenue of the rapeseed oil. Additionally, consumers are presumed to prefer mustard-based soaps to treat skin conditions and reduce the incidence of various allergies. As demand for dietary fats and oils increases, health awareness increases, and the marked change in food patterns consumed by animals from plant products has fueled the global market for rapeseed oil. Consumers who need to curb health problems like cardiovascular disease and cancer are another critical factor driving the growth of the global rapeseed oil market by increasing the consumption of rapeseed oil. The expanding food and cosmetic industry is expected to create growth opportunities for the rapeseed oil market in the coming years. The escalated demand for plant-based ingredients due to the rising vegan population and the growing trend towards plant-based diets where consumers seek natural and minimal processed foods for health are other significant factors contributing to expanding the market value.

MARKET RESTRAINTS

Rapeseed oil prices in various countries are not competitive in biodiesel production, which hampers the market revenue.

Furthermore, uncertainty in weather conditions can cause fluctuations in rapeseed prices, reduce national output, and increase the compression of other seeds, such as soybeans and palm kernels, to produce vegetable oil, limiting market growth. Rapeseed oil lacks minerals and other vitamins that significantly suppress the market demand for rapeseed oil. The availability of other seed extractions, such as palm, soybean, and others, in vegetable oil production is estimated to hinder the expansion of the global market.

REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

CAGR

4.7%

Segments Covered

By Extraction, Application, And Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC; PESTLE Analysis. Porter’s Five Forces Analysis, Competitive Landscape; Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

ConAgra Foods Inc, Cargill Incorporated, Mackintosh of Glendaveny, Ola Oils, Folba Oil Limited SDN, Bunge Limited, Marico Limited, Louis Dreyfus Company, Yorkshire Rapeseed Oil, Pacific Coast Canola, The Archer Daniels Midland Company and Others.

 

SEGMENTAL ANALYSIS

Global Rapeseed Oil Market Analysis By Extraction Process

The aqueous process segment dominates the global market due to its wide adoption and simplicity. In this process, water or another liquid is used to extract oil from oilseeds. Aqueous extraction is an environmentally friendly and promising method for oil recovery, which is driving the segment's growth. The presence of physical demulsification improves oil recovery in the aqueous method of extraction.

The enzyme-based process segment is estimated to grow moderately during the forecast period. In this process, high-quality oil is extracted along with the peptides simultaneously, which is gaining traction and leading to segment growth.

Global Rapeseed Oil Market Analysis By Application

The food processing segment held the largest share, 73.6% of the global market revenue, due to the wide utilization of rapeseed oil in the food industry. Rapeseed oil is the most widely used vegetable oil in the food industry due to its health benefits. Over the past few years, rapeseed oil has been manufactured without using chemical substances like preservatives, dissolving agents, and colors, accelerating the segment growth. The large population of South Asian countries uses rapeseed oil in food processing due to its exceptional smell and taste.

The biofuel segment is expected to grow fastest in the coming years due to various factors like the ease of manufacturing biodiesel. Rapeseeds can tolerate high temperature changes more than other oilseeds, and fluctuating crude oil prices and rising awareness regarding the consumption of petroleum-based gasoline and diesel worldwide will positively impact the segment's growth opportunities.

The cosmetics segment will grow moderately during the forecast period due to the increased benefits of rapeseed oil in cosmetics formulation and preparation.

REGIONAL ANALYSIS

The Asia Pacific region represented more than 40.0% of overall global sales of rapeseed oil. Many consumers in the area use rapeseed oil in their stocks. Additionally, many food processing companies use rapeseed oil in their products, contributing to the segment's growth. Developing countries like China and India are expanding their economies, and the increased consumer awareness of healthy lifestyles and increased disposable income is expected to benefit industrial growth in the coming years. The increasing demand for biofuels is estimated to enhance the regional market growth.

North America is supposed to expand at a prominent growth rate, the fastest in terms of revenue in the forecast period. Rapeseed oil consumption has been increasing in regional residential and industrial applications. The United States is anticipated to experience significant growth in the coming years as food processing equipment is firmly established nationwide. Furthermore, the increasing acceptance of natural oilseeds as a functional ingredient in the manufacture of personal care products in the United States is foreseen to impact market growth significantly. The markets of North America and Europe are the main contributors of income to the world rapeseed market, followed by Latin America, the Middle

East, and Africa, respectively. The European market is expected to register the fastest growth in income due to the presence of prominent players in the countries of this area.

KEY PLAYERS OF THE GLOBAL RAPESEED OIL MARKET

Major players of the global rapeseed oil market include ConAgra Foods Inc, Cargill Incorporated, Mackintosh of Glendaveny, Ola Oils, Folba Oil Limited SDN, Bunge Limited, Marico Limited, Louis Dreyfus Company, Yorkshire Rapeseed Oil, Pacific Coast Canola, The Archer Daniels Midland Company and Others.

RECENT HAPPENINGS IN THE MARKET

  • In January 2023, NapiFeryn Biotech raised USD 2.5 million to launch its canola/rapeseed protein from large oil-pressing side streams.
  • In April 2022, Mackintosh of Glendaveny, a leading rapeseed oil producer in the United States, announced the acquisition of Untitled Oats, a startup providing Scottish Oats with sustainability. The acquisition expanded the company's business.
  • In April 2022, Selenge, in North Mongolia, made an agreement with Dansuk Industrial Co. Ltd, South Korea, to export rapeseed oil. This is the first time Mongolia is exporting cooking oil. In the initial stage, Selenge was projected to export 800 tons of rapeseed oil to South Korea.
  • Rotam, a Hong Kong-based company, produces sulfonylurea herbicide-resistant rapeseed in China to meet the demand for high-quality, unprocessed rapeseed oil.
  • In May 2019, The UK-based The Butterworks began offering butter made from cold-pressed extra virgin rapeseed oil. This product has gained popularity due to its reduced cholesterol and more robust immune system credentials.
  • Larchwood Foods, a UK-based food manufacturer, advertises products under the Hue's Rapeseed Oil brand. Through a marketing campaign, the company intends to convert consumers of extra virgin olive oil into cold-pressed rapeseed oil.
  • In April 2017, NCDEX (National Commodity and Derivatives Exchange Ltd.) announced the mustard and rapeseed oil cake deal. This agreement aims to open several growth opportunities for new players who want to enter the market in the coming years.

DETAILED SEGMENTATION OF THE GLOBAL RAPESEED OIL MARKET INCLUDED IN THIS REPORT

This research report on the global rapeseed oil market has been segmented and sub-segmented based on extraction process, application, and region.

By Extraction Process

  • Aqueous Process
  • Enzyme based process

By Application

  • Food Processing
    • Vegetable recipes
    • Meat Recipes
    • Oil Cakes
  • Biofuel
  • Cosmetics and Personal Care Products
    • Lotions
    • Creams
    • Oils
    • Others

By Region

  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • The Middle East and Africa

 

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Frequently Asked Questions

1. What are the factors influencing the rapeseed oil market?

Factors such as weather conditions, agricultural policies, global demand for vegetable oils, competition from other oilseeds, and trends in healthy eating can all impact the rapeseed oil market.

2. What are the current trends and future prospects for the rapeseed oil market?

Current trends include increasing consumer demand for healthier cooking oils, growing interest in plant-based diets, and the expansion of the biodiesel industry. Future prospects for the rapeseed oil market may depend on developments in sustainable agriculture, technological innovations, and shifts in consumer preferences.

3. What are the nutritional benefits of rapeseed oil?

Rapeseed oil is low in saturated fat and high in monounsaturated and polyunsaturated fats, particularly omega-3 and omega-6 fatty acids. It also contains vitamin E, which acts as an antioxidant.

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