North America Rapeseed Oil Market by Extraction Process (Aqueous and Enzyme based process), by Application (Food Processing, Bio-Fuel, Cosmetics and Personal care Products) and by Region - Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)
The North America Rapeseed Oil Market was worth USD 27.3 million in 2016, and is expected to grow at a CAGR of 5.2%, to reach USD 35.1 billion by 2021. Rapeseed Oil is extracted from rapeseed plants.
It is edible vegetable oil with exceptional health and nutritional benefits. It is the world’s third largest source of vegetable oil.
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Apart from producing vegetable oil, it is also used to produce biodiesel and animal feed. The oil contains high protein content, next only to the soy bean oil.
It contains the lowest saturated fat of all vegetable oils and Vitamin E also. Rapeseed oil finds its applications in many fields such as food processing and cosmetics and personal care products manufacturing.
It is also used as a bio diesel as an alternative to fossil fuel diesel.
Increasing prevalence of cardio vascular diseases resulted in need for products with low cholesterol content. Increase in demand for edible oils which contain low amount of saturated fatty acids is majorly expected to drive the rapeseed oil market.
Changing life styles of consumers, increase in demand for nutritional foods and rising demand for healthy food are also expected to boost the rapeseed oil market. However, lack of minerals and availability of other highly produced alternatives such as soy and palm oils are expected to hinder the market growth.
Rapeseed Oil Market Segmentation:
1) By Extraction Process
- a) Aqueous
- b) Enzyme based process
2) By Application
- a) Food Processing
- b) Bio-Fuel
- c) Cosmetics
- d) Personal Care Products
Based on geography, the market is categorized into U.S and Canada. U.S. leads the market due to the high consumption of rapeseed oil due to the health benefits acquired.
It is also because U.S has huge population of people with cardiovascular diseases. Canada is the fastest growing market for rapeseed oil as it is one of the largest producers of the oil.
Some of the major players in this region are 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.
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