The global rapeseed oil market is influenced by several factors which impact the growth of the market. The most primary factor which has driven the increased adoption of rapeseed oil is the shift in food patterns from animal to vegetable items due to increasing awareness among consumers regarding health. Also, the rising demand for dietary fats and oils have contributed to the growth of the rapeseed oil market. Consumers who are trying to reduce their cardiovascular ailments as well as cancer in some cases, are benefited by rapeseed oil, thereby increasing the consumption of rapeseed oil. Due to several health benefits that the rapeseed oil provides, such as good source of Vitamin E, high in monounsaturated fats, a ten times more omega 3 content than olive oil, very low saturated fat content, and its suitability for a variety of diets, etc., the adoption of rapeseed oil is increasing, and so is the overall market. Moreover, apart from food applications, rapeseed oil is also used in cosmetics, used to reduce scars, used in oils and creams as well as lotions.
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Rapeseed oil is extracted from a yellow colored, usually bright, plant called oilseed rape plant. The oil is derived from the black seeds of this plant which serves a number of health benefits. Rapeseed oil is used in different applications such as in food industry, used in cosmetics to prepare healthy lotions or creams etc. owing to its higher nutritional value.
According to Fact.MR’s research report on the global rapeseed oil market, the market is anticipated to reach US$ 16,884.7 Mn by 2022 reflecting a moderate CAGR during the forecasted period of 2017-2022.
Europe Set to Dominate the Global Market
The global rapeseed oil market finds higher market attractiveness in the Europe region. Europe is much suited and favorable for the rapeseed oil and it is anticipated that this trend is most likely to continue over the forecasted period of 2017 to 2022. It is expected to grow at a moderate rate at a CAGR of 5% as far as Europe is concerned, during the entire period of forecast. Following Europe, Asia Pacific excluding Japan (APEJ) region is also showing good potential for growth of rapeseed oil consumption and stands second to Europe, followed by Japan, Middle East and Africa (MEA) and North America.
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Food Services Segment Outpaces Retail by Few Miles
The food services segment and retail segment by the end user type, are the two fast running segments, as per the market observations provided in the report. The food service segment reflects higher growth rate as compared to retail, to reach a CAGR of 4.3% and is expected to outpace the retail segment by few miles during the forecast period of 2017 to 2022. Both these segments are anticipated to show a gain in the BPS by the end of 2022 and also have less difference in the revenue market share, yet the food services segment overpowers retail in this aspect too.
The Online Segment by Distribution Channel Analysis to Show Higher Growth as Modern Trade Segment Stoops Down
The online segment by distribution channel is poised to run at a comparatively higher growth rate to show a CAGR of 4.5% during the forecasted period of 2017 to 2022. The modern trade segment seems to have slowed down a bit and is expected to lose BPS by the end of 2022. Yet it has a higher market share by revenue than other segments. The online segment, with this rate, can be predicted to gain a plus in its current market share by revenue and probably might even outpace modern trade. The specialty stores segment has even higher growth rate than the online segment and is poised to have a higher gain in the BPS by the end of 2022. It seconds the modern trade in terms of market revenue share in 2017.
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Virgin to Lose BPS, Slows Down During the Forecasted Period
Virgin segment by product type is poised to run at a slower rate, observing its current rate and market share analysis, and is expected to experience a loss in the BPS by the 2022 end. However, the processed segment by product type gains higher speed to reflect a CAGR of 4.2% during the period of forecast and is expected to grab a higher market share by revenue as well. A market share, almost double than that of the virgin segment, processed segment by product type is also expected to have a higher gain in the BPS by the end of 2022.
The report also profiles companies that are expected to remain active in the expansion of the global rapeseed oil market through 2022, which include The Adani Wilmar Ltd., Ruchi Soya Industries Limited, Associated British Foods plc., Cargill Inc., Archer Daniels Midland Company, Bunge Limited, Adams Group Inc., American Vegetable Oils, Inc., Grief Inc. (Olympic Oils Limited), Borges International Group S.L.U, Marico Limited, Fuji Oil Holdings Inc., Louis Dreyfus Company and ConAgra Foods (Agrotech Foods Ltd).
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Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR
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