The global Rapeseed Oil market stood at approximately 33 million tonnes in 2023 and is anticipated to grow at a CAGR of 1.79% during the forecast period until 2034. Rapeseed oil, renowned for its affordability and versatility as a cooking oil, commonly featured in salad dressings, fried dishes, and baked goods. Naturally low in saturated fat and high in unsaturated fat, rapeseed oil offers health benefits. It serves as a rich source of vitamin E, a potent antioxidant supporting eye and skin health. Additionally, it provides alpha-linolenic acid, an omega-3 fatty acid linked to various heart health advantages such as reduced blood pressure and a lowered risk of heart attack. While rapeseed oil contains omega-6 fats beneficial for overall health, excessive intake may contribute to inflammation. However, rapeseed oil offers a balanced omega-3 to omega-6 fat ratio.
Rapeseed oil boasts a versatile range of applications spanning various sectors. In culinary sector, it serves as a go-to cooking oil, known for its neutral taste that harmonizes with diverse cuisines, high smoke point ideal for frying and stir-frying, and cost-effectiveness compared to other oils. Additionally, it adds moisture and richness to baked goods and provides a neutral base for flavourful salad dressings and marinades. In industrial settings, rapeseed oil plays a pivotal role in biodiesel production, offering a renewable and cleaner alternative to conventional diesel fuel, thereby aiding in the reduction of greenhouse gas emissions. Its biodegradability and specific properties also make it suitable for use in certain industrial lubricants. Furthermore, rapeseed oil finds application in manufacturing processes, contributing to the production of coatings and plastics. With its multifaceted utility and adaptability, rapeseed oil remains a valuable asset across culinary, industrial, and manufacturing sectors.
The rapeseed oil market is shaped by several key trends and drivers. Firstly, heightened health awareness among consumers regarding the benefits of rapeseed oil, such as its low saturated fat content and abundance of heart-healthy omega-3 fatty acids, fuels its demand. Secondly, the growing preference for natural and organic products, particularly in regions where organic farming is prevalent, drives an increased market uptake. Thirdly, the surge in vegetarian and vegan diets has led to a rise in demand for plant-based cooking oils like rapeseed oil, serving as a viable alternative to animal-derived fats. Furthermore, rapeseed oil's versatility in various culinary applications, owing to its neutral flavor profile and high smoke point, aligns with evolving global culinary trends, bolstering its demand. Additionally, consumers' increasing environmental consciousness drives the popularity of rapeseed oil due to its relatively sustainable cultivation practices compared to other oilseed crops. Lastly, government mandates promoting renewable energy sources have spurred the use of rapeseed oil as a feedstock for biodiesel production, impacting its market availability and pricing. These factors collectively contribute to the dynamic landscape of the rapeseed oil market, influencing consumption patterns and industry growth. The global Rapeseed Oil market is likely to reach approximately 40.9 million tonnes in 2034.
Based on region, Asia Pacific region is likely to hold the largest market share in terms of consuming Rapeseed Oil. In 2023, Asia Pacific region held about 42% of the Rapeseed Oil market. In this region, rapeseed oil finds primary usage in food processing, with relatively lower contributions to industrial applications such as biofuels and cosmetics. China stands out as the largest consumer of rapeseed oil and is expected to maintain its leading position throughout the forecast period. The Asia Pacific region is poised to maintain its position as the largest consumer of rapeseed oil globally, driven by factors such as its vast population, cultural culinary traditions favouring rapeseed oil in cooking, and the increasing health consciousness among consumers. With countries like China and India leading the consumption trends, rapeseed oil's affordability, availability, and health benefits make it a staple in the region's diet. Additionally, the burgeoning food processing industry further fuels demand, as rapeseed oil finds extensive use in various processed food products.
Based on the end-user industry, the global Rapeseed Oil market is divided into Food, Paints & Plasticizers, Biofuel, Cosmetics, Pharmaceuticals, and Others. Among these, Food Industry is the major segment and held about 60% of the global Rapeseed Oil market in 2023 and is anticipated to prevail the similar trend in the upcoming years.
Major players in the Global Rapeseed Oil market are Archer-Daniels-Midland Company, Bunge Limited, Cargill Incorporated, Conagra Brands Inc., Cullise Ltd., Interfat SA, Louis Dreyfus Company B.V., Mackintosh of Glendaveny, Ola Oils Limited, Yorkshire Rapeseed Oil, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Rapeseed Oil which covers production, demand and supply of Rapeseed Oil market in the globe.
• To analyse and forecast the market size of Rapeseed Oil
• To classify and forecast Global Rapeseed Oil market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Rapeseed Oil market in the globe.
To extract data for Global Rapeseed Oil market, primary research surveys were conducted with Rapeseed Oil manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Rapeseed Oil market over the coming years.
ChemAnalyst calculated Rapeseed Oil demand across the globe by analyzing the volume of Rapeseed Oil consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Rapeseed Oil manufacturers and other stakeholders
• Organizations, forums and alliances related to Rapeseed Oil distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Rapeseed Oil manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Rapeseed Oil market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
33.9 million tonnes
Market size Volume in 2034
40.1 million tonnes
Growth Rate
CAGR of 1.79% from 2024 to 2034
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in million tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Manufacturing Process.
Segments covered
By End-Use: (Food, Paints & Plasticizers, Biofuel, Cosmetics, Pharmaceuticals, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was the net market size of Rapeseed Oil in terms of volume in 2023?
Ans:
The global market size of Rapeseed Oil has reached approximately 33.1 million tonnes in 2023.
Q2.
Which industry is the leading end-user industry of Rapeseed Oil?
Ans:
Food Industry is the leading end-user industry of Rapeseed Oil globally.
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