Rapeseed oil is famous for its various health benefits and its awareness is spreading throughout the globe. Its use in the food industry is remarkable but it also finds applications in the cosmetic industry. The global rapeseed oil market is driven by several factors which impact the growth of the market on a global scale. The increasing awareness of the rapeseed oil benefits with respect to health, an increase in the consumer shift from animal to vegetable products along with increase in the demand of oils and dietary fats have positively impacted the growth of the rapeseed oil market.
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Many are struggling to endure their cardiovascular ailments and few are also fighting cancer. Rapeseed oil is consumed by such people which helps them to reduce their ailments, and promote good health. This has driven the consumption of rapeseed oil on a large scale, especially in the developing countries. Moreover, it has several health advantages such as it has higher degree of omega 3, has very low saturated fat content, and healing abilities used to heal scars and boils. All these aspects have driven the global rapeseed oil market. Europe region shows higher market attractiveness for the rapeseed oil market and aims at preserving its dominance over other regions.
The global rapeseed oil market is poised to reach US$ 16,884.7 Mn by the end of 2022 and is anticipated to grow at a steady CAGR during the forecasted period of 2017 to 2022.
4 Forecast Highlights on Global Rapeseed Oil Market
The global rapeseed oil market experiences warm welcome from Europe region, as it becomes more lucrative with regards to the consumption of rapeseed oil. following Europe, the APEJ region is expected to show good growth and potential for the rapeseed oil market
The online segment and the specialty stores segment by distribution channel are the most growing segments, however, the specialty stores segment is a step ahead in its growth path than the online segment and is poised to grow at a higher CAGR of 4.6%. The modern trade segment experiences a reduction in growth rate, however is expected to retain its first position as far as market share by revenue is concerned. But, according to the report insights, it becomes only obvious that the specialty stores segment or the online segment can grow at par with the modern trade to capture most of its revenue share by the end of 2022
The processed segment by product type shows a higher revenue market share of more than 65% during the year 2017 and is poised to grow even higher to gain more market share as compared to the virgin segment during the forecast period. The virgin segment shows sluggish growth rate and its further expansion would only be steady or will remain the same owing to raped growth of the processed segment
Food services segment by end user gains more BPS and shows a higher growth rate to reach a CAGR of 4.3% during the period of forecast of 2017 to 2022. There seems to be a tough competition between the food services and the retail segment which is also growing at a significant rate and gaining a remarkable market share by revenue, but a figure lower than the food services segment.
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The report has also profiled leading players in the global market for men’s wear, which would remain active through 2022. These include companies like ConAgra Foods (Agrotech Foods Ltd)., Louis Dreyfus Company, Fuji Oil Holdings Inc., Marico Limited, Borges International Group S.L.U, Grief Inc. (Olympic Oils Limited), American Vegetable Oils, Inc., Adams Group Inc., Bunge Limited, Archer Daniels Midland Company, Cargill Inc., Associated British Foods plc., Ruchi Soya Industries Limited and The Adani Wilmar Ltd.