Future Market Insights (FMI) brings key insights on the global rapeseed oil market in its forthcoming outlook titled, ‘Rapeseed Oil Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2027’. By value, the global rapeseed oil market is anticipated to register a CAGR of 3.7% over the forecast period, due to various factors, regarding which, FMI offers vital insights in detail.
Rapeseed Oil – A Viable Option to Replace Olive Oil
From formerly obscure inedible oil, to more than few billion dollars crop, addressed among the healthiest edible oils in the market today, the transition of rapeseed oil is truly spectacular. Recognized as an alternative to olive and other edible oils that is as healthy and equal in taste, but more versatile to cook with, rapeseed oil is gaining intrinsic popularity. Of all the edible oils made for human consumption and in the industry, rapeseed oil is among the top three. Carefully made, rapeseed oil is a rage in restaurants. The cabbagey flavour that it provides means that there are no limits to its versatility. This versatility of rapeseed oil has resulted in an entire portfolio of rapeseed oil products, from its use as an ingredient in vegetables, baked goods, ready-to-eat meals, and in personal care and cosmetic products such as lotions, hair oil, and more, and also in biodiesels. Rapeseed oil is emerging to be a big business today. A sudden interest is being observed in rapeseed oil, and a meteoric rise is expected in the coming years.
Rapeseed oil is extracted from rape oilseeds – scientific name is Brassica napus. The seeds are maintained at high temperatures, using solvents and chemicals for bleaching, degumming, and refining the product. The result obtained is a bare, neutral, though useful standard edible kitchen rapeseed oil.
Rapeseed oil is a fairly healthy product, with saturated fat less than in olive oil. It’s also high in various compounds such as omega-3 and omega-6. Rapeseed oil’s composition of fatty acids is nearest to human needs. It contains low saturated fatty acids and low erucic acid. Rapeseed oil also contains sterol, which is more than beneficial to the human body. The consumption of sterol helps in reducing cholesterol, and fighting cardiovascular diseases, physiological functions, and cancer. Rapeseed oil is also rich in vitamin E, iron, carotenoids, selenium, and other vital elements.
Unlike olive oil, rapeseed oil doesn’t turn toxic when preheated, whereas, a smoke point higher than that of olive oil makes it slightly more appropriate for cooking or deep-frying. In the last few years, there has been an outpouring in artisanal cold pressed rapeseed oils, which are commercialized much like the olive oils.
Production has risen from a few thousand tons in the last decade to a few million tons today, increasing manifold the last ten years. The cultivation of rapeseed oil not only has a very low impact on the environment, but the oil is enormously good for one’s health. More and more consumers are mindful of what they consume, which makes rapeseed oil popular.
Economic growth is one of the factors expected to continue advancing the average per capita oil consumption in many developing nations. Further, swelling demand from the biodiesel sector is projected to consume roughly 20 percent more than last year. Higher obligatory blending charges and the making of additional production units in several nations are driving growth in the biodiesel industry.
The major producers of rapeseed oil are India, China, Canada, and the European Union. Much of the increase in the rapeseed oil market is expected to originate in Asia, with China being the most dominant player, with food and oleo chemical uses the main zones of growth.
This report of the rapeseed oil market includes the trends driving each segment, and provides analysis and insights of the potential of the rapeseed oil market in various regions. Latin America is expected to register a high growth rate between 2018 and 2027, and North America is expected to remain a fairly significant market for rapeseed oil through to 2027. According to market attractiveness, North America and Latin America are relatively more prominent regions in the rapeseed oil market. Some of the key players in the rapeseed oil market are Wilmar International Ltd., Oilio (Archer Daniels Midland), ViOil Group, Biona Organic, and Yorkshire Rapeseed Oil, among others.
More from FMI’s Food and Beverages Intelligence: