Extracted Canola Oil Market was valued at USD 25.6 Billion in 2022 and is projected to reach USD 35.1 Billion by 2030, growing at a CAGR of 4.2% from 2024 to 2030.
The extracted canola oil market is a significant segment of the global edible oil industry. With a diverse range of applications in food biofuels and industrial sectors it has been experiencing steady growth in recent years. The market size for extracted canola oil was valued at approximately USD 25 billion in 2023 with a projected compound annual growth rate CAGR of 5.2% over the next 5 10 years. This growth is driven by increasing consumer demand for healthy oils rising awareness regarding the health benefits of unsaturated fats and the growing trend of plant based diets.
Several factors are contributing to the market's expansion including technological advancements in oil extraction processes the increasing consumption of processed foods and the shift towards healthier alternatives in the food industry. Furthermore the rising awareness of sustainable and eco friendly farming practices is expected to fuel growth. The market's evolution will also be influenced by new product innovations such as high oleic canola oil which offers a more stable cooking oil option with improved shelf life.
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The extracted canola oil market is shaped by several dynamic forces that influence its growth trajectory. These forces can be categorized as drivers restraints and opportunities.
Health conscious Consumers: Rising consumer preference for healthy cooking oils with low saturated fat content is driving demand. Canola oil known for its heart healthy benefits is increasingly preferred over oils high in trans fats and saturated fats.
Technological Advancements: Improvements in canola oil extraction techniques such as cold press and solvent extraction have increased yield efficiency and product purity leading to cost reduction and market expansion.
Food Industry Growth: The expanding food processing industry particularly in the production of packaged foods sauces and dressings continues to drive the demand for extracted canola oil as an essential ingredient.
Sustainability Concerns: Growing awareness about environmental sustainability has led to a shift towards sustainable farming practices driving the demand for sustainably sourced canola oil.
Price Volatility: The price of canola oil is subject to fluctuations in raw material costs which can be influenced by factors such as climate conditions crop yields and geopolitical events affecting trade.
Supply Chain Disruptions: The global supply chain for canola oil faces challenges such as transportation disruptions trade barriers and labor shortages which can impact production and distribution.
Regulatory Compliance: Stringent regulations regarding food safety labeling and sustainable farming practices may pose challenges for manufacturers particularly in new markets where compliance costs are high.
Plant Based Diets: The increasing popularity of plant based diets presents an opportunity for extracted canola oil as it is seen as a plant derived healthy oil alternative to animal based fats.
Biofuels Development: The demand for biofuels particularly biodiesel derived from canola oil is growing due to government mandates and environmental concerns over fossil fuels.
Innovation in Product Offerings: New variants of canola oil such as high oleic and low acid canola oil are gaining traction in both food and industrial applications due to their improved health benefits and enhanced cooking properties.
The extracted canola oil market can be segmented based on application end users and regions. Each of these segments contributes significantly to the overall growth of the market.
Food & Beverages: The food industry remains the largest consumer of canola oil used in cooking frying salad dressings and processed foods like margarine mayonnaise and snack foods.
Biofuels: Biodiesel production is a growing application for canola oil especially in countries with strict emission regulations and renewable energy mandates.
Cosmetics & Personal Care: Canola oil is used in the production of skincare and hair care products due to its emollient properties acting as a moisturizer and skin softener.
Industrial Applications: The industrial sector uses canola oil for lubricants and as a base for various industrial chemicals including plastics and solvents.
Households: Home cooking represents a significant portion of the market with consumers preferring canola oil for its versatility light flavor and health benefits.
Food Manufacturers: Large scale food processors and manufacturers use canola oil in a wide variety of packaged and processed foods ensuring a stable demand from this end user group.
Biofuel Producers: Canola oil is a key feedstock for biodiesel production contributing to a growing sector driven by clean energy initiatives.
North America: The largest market for extracted canola oil with Canada and the U.S. being key producers and consumers. The region's strong food and biofuels industries ensure continued growth.
Europe: Europe's demand for canola oil is driven by its widespread use in cooking and food processing as well as its growing role in biofuel production.
Asia Pacific: This region is witnessing rapid growth particularly in countries like China and India where there is rising awareness of health conscious cooking and increasing demand for edible oils.
Latin America: Countries in Latin America are expanding their use of canola oil both in food processing and biofuels driven by economic development and an emerging middle class.
Several key players dominate the global extracted canola oil market contributing to its growth through strategic initiatives innovative product offerings and market expansion.
Cargill Inc.: A major player in the canola oil market Cargill operates in multiple sectors from food production to biofuels. Their focus on sustainable sourcing and investment in cutting edge extraction technology has bolstered their market position.
Archer Daniels Midland Company ADM: ADM is a key supplier of canola oil serving food manufacturers and biofuel producers globally. The company's commitment to product innovation and sustainability has made it a leader in the sector.
Bunge Limited: Bunge is a leading global agribusiness and food company involved in the production of canola oil. Their strong distribution network and emphasis on non GMO and sustainable canola oil production are major advantages in the competitive market.
Wilmar International Ltd: Based in Singapore Wilmar is one of the largest agribusinesses in Asia producing canola oil and other edible oils. Their strategic focus on expanding operations in emerging markets has contributed to significant growth.
Olam Group: Olam is known for producing high quality canola oil for both food and industrial applications. Their commitment to sustainable farming and crop sourcing practices enhances their brand reputation in global markets.
The extracted canola oil market is experiencing significant innovation and technological advancements. Some of the key trends shaping the market include:
Cold Pressed and Solvent Extraction Technologies: New more efficient extraction methods are being developed to improve oil yield while minimizing environmental impact such as cold pressing and using greener solvents.
High Oleic Canola Oil: This variant of canola oil is gaining popularity due to its stability at high cooking temperatures and longer shelf life catering to both consumers and industrial users.
Sustainability Initiatives: Companies are increasingly focusing on sustainable farming practices reducing carbon footprints and improving supply chain transparency in response to consumer demand for eco friendly products.
Despite its growth potential the extracted canola oil market faces several challenges:
Supply Chain Issues: Disruptions in the global supply chain such as transportation delays and raw material shortages can impact production and pricing. Solutions include diversifying supply sources and building more resilient supply chains.
Price Volatility: Canola oil prices can fluctuate due to environmental factors market demand and geopolitical issues. Hedging strategies and long term contracts can help mitigate price risks for manufacturers.
Regulatory Barriers:
Who are the largest Global manufacturers in the Extracted Canola Oil industry?
Louis Dreyfus Company
ADM
Cargill
Bunge
Richardson Oilseed
Viterra
Al Ghurair
CHS
Pacific Coast Canola (PCC)
Oliyar
Wilmar International
COFCO
Chinatex Corporation
Maple Grain and Oil Industry
HSGC
Zhongsheng
Allstar
H-Best
Yingcheng Oil Company
Daodaoquan
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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What are the factors driving the growth of the Global Extracted Canola Oil Market?
Growing demand for below applications around the world has had a direct impact on the growth of the Global Extracted Canola Oil Market
Food Industry
Biofuels
Oleo Chemicals
Other
What are the types of Extracted Canola Oil available in the Market?
Based on Types the Market is categorized into Below types that held the largest Extracted Canola Oil market share In 2023.
Transgenic Canola Oil
Non-transgenic Canola Oil
Which regions are leading the Global Extracted Canola Oil Market?
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Detailed TOC of Global Extracted Canola Oil Market Research Report, 2024-2032
1. Introduction of the Global Extracted Canola Oil Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Extracted Canola Oil Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Extracted Canola Oil Market, By Type
6. Global Extracted Canola Oil Market, By Application
7. Global Extracted Canola Oil Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Extracted Canola Oil Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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