The global rapeseed oil market size is expected to reach USD 48.1 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.7% over the forecast period. Growing popularity of rapeseed oil as a functional ingredient due to its rich content of vitamin E and essential fatty acids is projected to expand the market size in the nutritional industry. Furthermore, rising awareness regarding biofuels at the global level as a result of supportive government policies in developed economies including U.S. and Germany to promote production and consumption of naturally derived fuels is projected to open new avenues in the near future.
Food processing is expected to reach more than USD 30.0 billion by the end of 2025. Rising concerns over cardiovascular diseases among working class people at the global level as a result of hectic lifestyle are expected to expand the scope of nutritional enriched food products. As a result, the food processing companies are expected to increase spending on the inclusion of low fat and nutritional oilseeds including rapeseed as a functional ingredient in the formulation of their finished goods.
As of 2018, Asia Pacific was the largest rapeseed oil market, accounting for more than 40.0% share in terms of revenue and volume. Expansion of the middle class income groups in emerging economies including China and India is expected to expand the scope of rapeseed oil as a key constituent in formulation of various nutritional products and personal care goods. Furthermore, in April 2017, the National Commodity and Derivatives Exchange Ltd. (NCDEX) announced the trading for rapeseed mustard oil cake. This initiative is expected to open new avenues for new participants to enter the rapeseed oil value chain in the near future.
Some of the key players operating in this market are Cargill, Incorporated, CCS Estates, Ola Oils, Mackintosh of Glendaveny, Sodrugestvo, Archer Daniels Midland Company, K. S. Oils Limited, SME Business Services Limited, and Walter Rau Neusser. Various manufacturers are concentrating on new product development and technological innovation as well as are investing in marketing campaigns to expand their product portfolio.
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Further key findings from the report suggest:
- Based on application, food processing accounted for 72.6% share of the global revenue in 2018
- In terms of revenue, the bio-fuel application segment in rapeseed oil market is projected to ascend at a CAGR of 6.3% from 2019 to 2025. Demand for personal care was pegged at 2.9 million tons in 2018
- In terms of revenue, North America is expected to expand at the fastest CAGR of 6.7% from 2019 to 2025.
Grand View Research has segmented the global rapeseed oil market on the basis of application and region:
Rapeseed Oil Application Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2015–2025)
- Food Processing
- Personal Care