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Rapeseed Oil Market Size - By Product type (Refined Rapeseed Oil, Crude Rapeseed Oil, Organic Rapeseed Oil), By Application (Food and Beverages, Industrial Use, Animal Feed, Pharmaceuticals), By Distribution Channel & Forecast, 2024-2032

  • Report ID: GMI10893
  • Published Date: Aug 2024
  • Report Format: PDF

Rapeseed Oil Market Size

Rapeseed Oil Market size was valued at USD 22.5 billion in 2023 and is projected to expand at over 5.2% CAGR from 2024 to 2032. The market involves the production, processing, and distribution of oil derived from rapeseed. This oil finds primary applications in food products, animal feed, and various industrial uses. Its high nutritional profile, notably its richness in omega-3 and omega-6 fatty acids, fuels its demand in the culinary sector, especially for cooking and salad oils.
 

 Rapeseed Oil Market

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The market is witnessing growth, spurred by heightened health awareness and the surging popularity of plant-based diets. According to the United States Department of Agriculture (USDA), the demand for rapeseed oil in food products has increased by 15%, while its use in biodiesel production has seen a 10% rise. This underscores its promise as a sustainable alternative to other vegetable oils, especially in markets like Europe and North America.
 

The rapeseed oil market is witnessing significant growth, primarily driven by two factors: the surging demand for healthier edible oils and the burgeoning biofuel industry. With a growing emphasis on health, consumers are increasingly turning to oils, such as rapeseed oil, that are rich in omega-3 and omega-6 fatty acids, especially for cooking and food preparation. According to the United States Department of Agriculture (USDA), the demand for edible oils rich in omega-3 and omega-6 fatty acids has increased by 15%.
 

Furthermore, the biofuel industry's expansion, spurred by the quest for sustainable energy sources, positions rapeseed oil as a pivotal raw material for biodiesel production. The USDA reports a 20% rise in the use of rapeseed oil for biodiesel production. Coupled with these dynamics, supportive government policies in regions like Europe further amplify the market's growth trajectory.
 

The rapeseed oil market grapples with two primary challenges such as fluctuating crop yields and stiff competition from alternative oils. Weather unpredictability, coupled with pests and diseases, can disrupt rapeseed harvests, impacting the supply chain and escalating costs. Moreover, rapeseed oil contends with competition from other vegetable oils, such as palm, soybean, and sunflower oils. These alternatives are often more affordable and readily available, posing a challenge to rapeseed oil's market share, particularly in price-sensitive regions. Addressing these hurdles necessitates innovations in crop management and emphasizing rapeseed oil's health benefits to set it apart from competitors.
 

Rapeseed Oil Market Trends

In the rapeseed oil industry, trends indicate a pivot towards organic and non-GMO products, spurred by consumers' rising preference for natural and healthier choices. According to the United States Department of Agriculture (USDA), organic food sales have increased by 10%. The burgeoning popularity of plant-based diets has further cemented rapeseed oil's status as a go-to cooking ingredient.
 

Moreover, rapeseed oil's favorable environmental profile has piqued interest in its industrial applications, especially in biodiesel production. The USDA reports a 15% rise in biodiesel production utilizing rapeseed oil. Technological advancements in extraction processes are enhancing both the quality and yield of the oil, propelling its adoption across diverse sectors, ranging from food to renewable energy.
 

Rapeseed Oil Market Analysis

Rapeseed Oil Market, By Product type, 2021 - 2032 (USD Billion)
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The refined rapeseed oil segment is anticipated to reach USD 24.1 billion by 2032, growing at a CAGR of over 4.9% during the forecast period. Refined rapeseed oil is carving out a prominent position in the rapeseed oil market, thanks to its versatility and diverse applications. Its neutral flavor, elevated smoke point, and nutritional advantages make it a favored option for cooking, baking, and food processing.
 

The refining process not only eliminates impurities but also boosts its stability and shelf life, making it attractive to both consumers and manufacturers. Beyond culinary uses, refined rapeseed oil is increasingly being adopted in the cosmetic and pharmaceutical sectors as a foundational ingredient for various products. As the demand for healthier and multifunctional oils rises, refined rapeseed oil stands poised for sustained market growth.
 

Rapeseed Oil Market, By Application, (2023)
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The rapeseed oil market share from food and beverages will observe around 4.8% CAGR through 2032 with a market size of USD 15.2 billion. Driven by its health benefits, such as low saturated fat content and high omega-3 fatty acid levels, rapeseed oil is carving out a significant niche in the food and beverages sector. Its neutral flavor and high smoke point make it a go-to choice for cooking, baking, salad dressings, and processed foods.
 

As consumers increasingly gravitate towards healthier alternatives, rapeseed oil is gaining preference over other vegetable oils. Beyond its culinary uses, rapeseed oil plays a pivotal role in producing margarine, spreads, and emulsifiers for various food products. With the surging popularity of plant-based diets and a demand for clean-label ingredients, rapeseed oil's influence in the food and beverage industry continues to grow.
 

The rapeseed oil market share from retail stores segment will observe around 4.9% CAGR through 2032 with a market size of USD 20.5 billion in 2032. Retail stores widely distribute rapeseed oil, addressing diverse consumer needs across multiple channels. Supermarkets and hypermarkets prominently feature rapeseed oil in their cooking oils section, alongside other vegetable oils.
 

To cater to the demand for premium or health-focused products, specialty stores offer organic rapeseed oils. Furthermore, health food stores and online platforms provide rapeseed oil, enhancing convenience and expanding product variety. This comprehensive distribution network bolsters accessibility and visibility, fueling consumer adoption and propelling market growth.
 

Asia Pacific Rapeseed Oil Market Size, 2021- 2032 (USD Billion)
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Asia Pacific rapeseed oil market will record a market size of about USD 14.5 billion in 2032 and 5.4% CAGR during 2024 and 2032. Urbanization, rising disposable incomes, and an increasing emphasis on health and nutrition are fueling the growth of the market in the Asia-Pacific region. The booming food and beverage industry in the region is amplifying the demand for versatile and health-oriented cooking oils.
 

Furthermore, governmental backing for sustainable agricultural practices and biofuel production is bolstering the rapeseed oil sector. With a noticeable shift towards health consciousness and plant-based diets among consumers, the appetite for rapeseed oil—both in culinary and industrial realms—is set to surge. This trend unveils significant avenues for market expansion and investment in the Asia-Pacific landscape.
 

Rapeseed Oil Market Share

 Rapeseed Oil Market Company Share, (2023)

Players in the rapeseed oil industry are implementing a range of strategies to strengthen their market presence. These strategies encompass investments in cutting-edge refining technologies, enhancing oil quality, and prolonging shelf life. Companies are broadening their product lines to include organic and non-GMO options, targeting health-conscious consumers. They're forging strategic partnerships with retailers and distributors to amplify market reach and accessibility.
 

Furthermore, there's a pronounced emphasis on sustainable practices, from eco-friendly production methods to environmentally conscious packaging, catering to eco-aware consumers. Collectively, these strategies aim to bolster competitiveness and adapt to the shifting demands of consumers in the market.
 

Rapeseed Oil Market Companies

Top companies operating in the rapeseed oil industry include:

  • Wilmar
  • Vioil
  • Interfat
  • Cargill Inc.
  • Adani Wilmar Ltd.
  • American Vegetable Oils Inc.
  • Marico Limited
  • Grief Inc.
  • Associated British Foods Plc.
  • Fuji Oil Holdings Inc.
  • ADM
     

Rapeseed Oil Industry News

  • In July 2022, the Repsol Foundation, a business accelerator, selected Nuspec Oil, among four other start-ups, to receive a year of financial support and testing opportunities at Repsol. Nuspec Oil is focused on commercializing rapeseed oil and developing bio-based base oils.
     

The rapeseed oil market research report includes in-depth coverage of the industry, with estimates and forecasts in terms of revenue and volume (USD Billion) (Kilo Tons) from 2021 to 2032, for the following segments:

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Market, By Product type

  • Refined rapeseed oil
  • Crude rapeseed oil
  • Organic rapeseed oil

Market, By Application

  • Food and Beverages
  • Industrial Use
  • Animal Feed
  • Pharmaceuticals
  • Others (including Biopolymers, Agricultural Chemicals)

Market, By Distribution Channel

  • Retail Stores
  • Online Retail
  • Distributors
  • Direct Sales

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA

 

Authors: kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of rapeseed oil reached USD 22.5 billion in 2023 and is set to register over 5.2% CAGR between 2024 and 2032, due to the increasing consumer awareness of health and nutrition.
The food and beverages segment in the rapeseed oil market is expected to record 4.8% CAGR through 2032, owing to its health benefits and increasing demand in plant-based diets.
Asia Pacific market is expected to reach USD 14.5 billion by 2032, driven by urbanization, rising disposable incomes, and an increasing emphasis on health and nutrition.
Wilmar, Vioil, Interfat, Cargill Inc., Adani Wilmar Ltd., American Vegetable Oils Inc., Marico Limited, Grief Inc., Associated British Foods Plc., Fuji Oil Holdings Inc., and ADM, among others.

Rapeseed Oil Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 11
  • Tables & Figures: 172
  • Countries covered: 22
  • Pages: 200
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