Canola Oil Market 2023: Size, Global Industry Trends, Analysis and Forecast to 2028

According to IMARC Group’s latest report, titled “Canola Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028″, offers a comprehensive analysis of the industry, which comprises insights on the canola oil market share. 

The global canola oil market size reached 28.3 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 31.0 Million Tons by 2028, exhibiting a growth rate (CAGR) of 1.38% during 2023-2028. Canola oil represents an edible vegetable oil extracted from rapeseed plants belonging to the Brassicaceae family. In terms of packaging, they are available in cans, bottles, drums, pouches, and other types. These canola oil products are rich in vitamin E, omega-3 and omega-6 fatty acids, monosaturated fats, etc., and contain lower amounts of trans- and saturated fats. They provide various health benefits, which include improving metabolism, reducing inflammation, protecting against heart attacks and strokes, etc. As a result, canola oil variants find widespread applications in several sectors, such as food and beverage (F&B), cosmetics and personal care, biofuels, etc.

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Global Canola Oil Market Trends:

The launch of numerous initiatives by government bodies and major companies aimed at lowering import duty and tax on edible oils across countries is among the key factors driving the canola oil market. In addition to this, the rising usage of the oil in cooking and salad dressing, on account of its high content of oleic acid that helps to lower the cholesterol levels present in the body and reduce the risk of cardiovascular ailments, is acting as another significant growth-inducing factor. Apart from this, the elevating need for the oil from the personal care and cosmetics segments, owing to its anti-aging properties, which aid in reducing wrinkles, fine lines, and blemishes, is also positively influencing the global market. Moreover, the escalating product employment as livestock feed for providing minerals, vitamins, fiber, etc., to the animals for maintaining correct health and developing proper bone structure is expected to propel the canola oil market over the forecasted period.

Canola Oil Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the canola oil market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Archer Daniels Midland Company
• Associated British Foods plc
• Jivo Wellness Pvt. Ltd.
• Arla Foods AmbA
• Richardson International Limited
• Cargill, Inc.
• The J.M. Smucker Company
• Bunge Limited
• Wilmar International Inc.

Key Market Segmentation:

The report has segmented the global canola oil market on the basis of application, packaging and region.

Breakup by Application:

• Cooking
• Processed Foods
• Lubricants
• Personnel Care
• Biofuels
• Others

Breakup by Packaging:

• Cans
• Drums
• Bottles
• Pouches
• Others

Regional Insights:

• Asia Pacific
• North America
• Europe
• Middle East and Africa
• Latin America

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Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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