Canola Oil Market Opportunities, Growth, Key Driven Factors, Global Market Highlights by Forecast to 2024
Market Overview
As per Market Research Future (MRFR)’s new analysis, the Global Canola Oil Market is projected to strike a healthy CAGR during the forecast period 2018 to 2024. Canola oil has gained popularity among the growing health-conscious population owing to its health benefits. The rising prevalence of health-related issues such as cardiovascular diseases due to high cholesterol is likely to fuel demand for canola oil in the upcoming years.
Canola oil is rich in essential unsaturated fatty acids such as Omega-3 and Omega-6, which is projected to have a favourable impact on the expansion of the Global Canola Oil Market. The rising awareness about the health benefits and nutrient value of the oil is anticipated to drive the expansion of the market across the world. Another major factor that is aiding the proliferation of the canola oil market is the extensive use of the oil as biodiesel. The trend is expected to continue through the assessment period. Additionally, canola oil is in demand by the cosmetics industry as it helps in minimizing wrinkles, blemishes, and spots. The growth of the cosmetics industry is poised to drive the growth of the canola oil market in the upcoming years.
Major Key Players
Some of the key players profiled in the report are Archer Daniels Midland Co. (US), Jivo Wellness Pvt. Ltd (India), Sunora Foods (Canada), Wilson’s Foods (South Africa), Associated British Foods PLC (UK), Dalmia Continental (India), Richardson International Ltd (Canada), Cargill, Inc. (US), Arla Foods AmbA (Denmark), and Louis Dreyfus Co. (Netherlands)
Industry News
In June 2018, Mother Dairy, India, has entered the canola oil segment under the brand ‘Dhara’ for the expansion of its refined edible oil portfolio.
In October 2018, Cargill India, part of the US food major Cargill, has launched ‘NatureFresh Acti Heart’ cooking oil, blended equally with Canola and rice bran oils.
Browse Complete Half-Cooked Research Report Enabled with Respective Tables and Figures is Available @ https://www.marketresearchfuture.com/reports/canola-oil-market-2752
Regional Insights
By region, the global canola oil market has been segmented into Europe, North America, Asia-Pacific, and the Rest of the World. North America is leading the global market and is likely to retain its dominance towards the end of the forecast period. Canada, which is the first and the largest producer of canola oil, is expected to contribute significantly towards the growth of the canola oil market in the region. It is one of the major exporters of the world and is poised to maintain its supremacy in the regional canola oil market in the foreseeable future. An upsurge in demand is prognosticated owing to its health benefits. Furthermore, the increasing demand for canola oil from the cosmetics industry is forecasted to influence the expansion of the market positively.