Rapeseed oil is essential culinary oil, procured from the seeds of Brassica Napus. Initially, these oils were rejected for not being of suitable usage to human beings. The presence of Erucic acid has furnished health derogatory state for these oils as in the case of human consumption. However, the technological advancements in the manufacturing processes have rendered the oil with suitability for human consumption.
Market value and drivers of rapeseed oil:
The Global market value of rapeseed oil production is expected to increase manifold, growing at a significant Cumulative Average Growth Rate (CAGR) percent in the upcoming years, as divulged by various market analysts. The culinary benefits of rapeseed oil have influenced the market growth rate on a large scale. The refined form and cold pressed form of rapeseed oil possess high smoke points and hence, they do not burn at higher temperatures; and are consequently suitable for deep frying and food searing procedures. Furthermore, these oil varieties offer exceptional properties of lightness, non-greasiness and the exemplary property of not losing the natural flavor after the process of food searing.
Market’s crucial players:
The key competitors in the market include Cullise, Ola Oils, RISOIL S.A, Cargil Incorporated, SDN, Pacific Coast Canola, Folba Oil Limited and Mackintosh of Glendaveny.
Regional market analysis:
The market is heavily dominated by the European region. This is essentially due to the increasing residential usage, prevalently observed in the region. Also, the cultivation of rapeseed plants is the most rampant immediately after the cultivation of wheat and barley in European countries like UK. Hence, the demand for the rapeseed oil production is expected to grow higher in this region. The food pattern modifications, has driven the market growth in the Asian pacific countries and in North American countries. These regions will consequently witness ponderous growth rate in the impending years. Amongst the Asian pacific countries, India and China are expected to furnish expanded space for growth.
The different categories of labeling of rapeseed oil include refined rapeseed oil, canola oil, extra-virgin rapeseed oil, cold pressed rapeseed oil, premium rapeseed oil, and vegetable oil encompassing the dominant usage of rapeseed oil composition. Apparently, food is the largest application sector of these oils; and is essentially the third largest source of vegetable oils. The other benefactors for cultivation entail the enhancement of soil tilth, suppression of weeds, ponderous quantity of biomass, biodiesel production and the supply as animal feed.
The salubrious content of rapeseed oil has ponderously driven the growth rate of this market and the production is expected to furnish high revenue yields in the future.