Canola Oil Market Growth Factors
Hyderabad, India -- (SBWIRE) -- 02/08/2018 -- The report "Rapeseed Oil Market by Extraction Process (Aqueous And Enzyme Based Process), By Application (Food Processing, Bio-Fuel, Cosmetics And Personal Care Products)
- Forecast to 2021", The Rapeseed Oil market is expected to reach USD 37 Billion by 2021 from an estimated USD 29 Billion in 2016, at a CAGR of 5.27%. The key factors such as cardio vascular diseases, increased level of high cholesterol level in blood serum, Diabetics, Obesity and increased in demand for edible oils which contain low amount of saturated fatty acids are some of the driving factors for the growth of this market.
On the basis of extraction, the Rapeseed Oil market has been segmented into aqueous process and enzyme based process. In 2016, the aqueous process is expected to account for the largest share of the global Rapeseed Oil market. The enzyme based process, on the other hand, is expected to be the fastest-growing segment during the forecast period. Growth in this extraction process is mainly driven by the increase in the yield many folds compared to the aqueous process.
By application, the Food processing accounted for the largest share of the market in 2016
On the basis of application, the Rapeseed Oil market has been categorized into Food Processing, Bio-Fuel, Cosmetics, Personal care Products and Others. In 2016, Food Processing is expected to account for the largest share of the global Rapeseed Oil market. 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. Growth is attributed as rapeseed oil contains high amount of unsaturated fatty acids resulting in low cholesterol leading to increase in Rapeseed Oil application areas.
Europe accounted for the largest share of the Rapeseed Oil market in 2016, followed by Asia Pacific. The large share of the European Rapeseed Oil market can be attributed to the growth in biotechnology and health concerns within consumers and promotions of other research programs to understand the other health benefits of Rapeseed oil.
The various players in the Rapeseed Oil market 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, and The Archer Daniels Midland Company.
