Canola Oil Industry 2020-2027
Increased demand of canola oil used in different segments including commercial and non-commercial purposes has uplifted the consumption of canola oil. Additionally, health benefits associated with the consumption is driving the growth of Canola Oil Industry globally. Market Research Future, a firm which specializes in market reports related to the Foods, Beverages & Nutrition sector among others, recently forecasted in its report “Global Canola Oil Industry Research Report- Forecast to 2023” that the market will demonstrate an exceptional CAGR % while achieving million dollar growth readily in the forecast period.
Canola oil is a vegetable oil which is extracted from genetically modified oilseed crops. It has applications in food, feed, and fuel. Its consumption by the vegan populace owing to its content of alpha-linolenic acid (ALA) can drive up its production. The global Canola Oil Industry report contains valuable insights and niche trends which can be prevalent during the period of 2019 to 2024 (forecast period). The report also contains the impact of the COVID-19 pandemic as a market force.
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The global Canola Oil Industry is segmented into North America, Europe, APAC, and Rest of the World (RoW). Among all of them, Europe is estimated to retain its dominance throughout the forecast period. Europe is amongst the leading producer of canola oil across the globe.
The global Canola Oil Industry has been studied for four regions—North America, Europe, Asia Pacific (APAC), and the Rest-of-the-World (RoW).
Europe is expected to dominate the market over the forecast period. This can be attributed to the production of rapeseed oil domestically. The regulations on genetically modified canola in the region can act as a barrier for growth owing to exports from Canada being accepted.
The global Canola Oil Industry segmentation has been classified as a category, packaging type, and distribution channel.
Based on the category, the global Canola Oil Industry has been bifurcated into organic and conventional. The conventional segment holds the larger market share, and the organic segment is expected to register the higher CAGR during the review period.
Based on packaging type, the global Canola Oil Industry has been segmented into bottles, cans, and others. The bottling segment is expected to hold the majority market share and is projected to register the highest CAGR during the review period, according to the MRFR analysis.
The key players profiled in canola oil are Archer Daniels Midland Company (U.S.), Associated British Foods Plc. (U.K), Sunora Foods (Canada), Wilson’s Foods (South Africa), Jivo Wellness Pvt. Ltd. (India), Dalmia Continental Pvt. Ltd. (India), and Arla Foods (Denmark) among many others.
NOTE: Our Team of Researchers is Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.