The global rapeseed oil market is influenced by several factors which impact its growth. The most primary factor which has driven the increased rapeseed oil adoption is the shifting food patterns from animal to vegetable items due to increasing consumer awareness regarding health.
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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. Rapeseed oil is associate with several health benefits, being a good source of Vitamin E, high monounsaturated fat content, substantial omega 3 content, very low saturated fat content, and its suitability for a variety of diets. Rapeseed oil sales continue to spur, driven by its application in cosmetics, used to reduce scars, used in oils and creams as well as lotions, apart from food applications.
Rapeseed oil is extracted from a yellow colored, usually bright, plant called oilseed rape plant. The rapeseed oil is derived from the black seeds of this plant which serves a number of health benefits. Nutrition-rich nature of rapeseed oil has led its use in different applications such as in food industry, and cosmetics to prepare healthy lotions or creams.
According to Fact.MR’s research report, the global rapeseed oil market is anticipated to reach US$ 16,884.7 Mn by 2022 reflecting a moderate CAGR during the forecast period 2017-2022.
Europe Set to Dominate the Rapeseed Oil Market
The global rapeseed oil market finds higher market attractiveness in Europe. Europe is much suited and favorable for the rapeseed oil. The rapeseed oil market is expected to grow at a moderate rate at a CAGR of 5% in Europe through 2022. Asia Pacific excluding Japan (APEJ) region also remains lucrative for growth of rapeseed oil sales & consumption, trailing Europe, and followed by Japan, Middle East and Africa (MEA) and North America.
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Food Services to Outpaces Retail in Rapeseed Oil Market
The food services and retail are the fast running end-users of rapeseed oil, as per the market observations provided in the report. Rapeseed oil sales in food service reflects higher growth rate compared to retail, and is expected to record a CAGR of 4.3% through 2022. Both these segments are anticipated to show a gain in the BPS by 2022-end, and compete closely in terms of revenue share in the rapeseed oil market.
The Online Rapeseed Oil Sales to Show Higher Growth
The online distribution of rapeseed oil will register a comparatively higher growth rate at a CAGR of 4.5% through 2022. Rate of rapeseed oil sales in the modern trade seems to have slowed down a bit in recent years, yet it continues to lead in terms of revenues. The online rapeseed oil sales, with this rate, can be predicted to witness gains in current revenue share. 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.
Virgin to Lose BPS, Slows Down During the Forecasted Period
Virgin rapeseed oil 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 rapeseed oil will gain 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 rapeseed oil, processed rapeseed oil is also expected to have a higher gain in the BPS by the end of 2022.
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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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