Canola Oil Market Size, Growth, Demand by Regions, Analysis and Forecast 2024-2032

Summary:

• The global canola oil market size reached USD 28.8 Million Tons in 2023.
• The market is expected to reach USD 32.2 Million Tons by 2032, exhibiting a growth rate (CAGR) of 1.1% during 2024-2032.
• Europe leads the market, accounting for the largest canola oil market share.
• Cooking accounts for the majority of the market share in the application segment due to its high smoke point and neutral flavor.
• Drums represents the leading packaging segment, as they offer cost-efficiency and ease of transport for high-volume users.
• The increasing focus on health by consumers is a primary driver of the canola oil market.
• The rising product demand in the food industry for processed and packaged foods is reshaping the canola oil market.

Request for a sample copy of this report: https://www.imarcgroup.com/canola-oil-market/requestsample

Industry Trends and Drivers:

• Rising Health Consciousness and Demand for Healthier Edible Oils:

The increasing consumer awareness of the health benefits associated with different cooking oils is one of the major factors boosting the market growth. Moreover, the low saturated fat content and high omega-3 fatty acid levels of canola oil, boosting its use as a healthier alternative to other vegetable oils, is favoring the market growth. Additionally, the rising application of oils that promote heart health and reduce the risk of chronic diseases is creating a positive outlook for the market growth. Furthermore, the growing awareness surrounding issues like cholesterol management and weight control, heightening the interest in oils that offer nutritional advantages, is enhancing the market growth.

• Increasing Application in Processed and Packaged Foods:

The expanding use of canola oil in processed and packaged foods is another key driver fueling the market growth. Moreover, the rising value of canola oil in the food processing industry due to its neutral taste, light texture, and long shelf life is fostering the market growth. Besides this, the widespread product utilization in applications like salad dressings, mayonnaise, and baked goods is catalyzing the market growth. Furthermore, the rising demand for convenience and ready-to-eat (RTE) foods in urban areas and among time-strapped consumers, prompting food manufacturers to adopt canola oil to enhance the nutritional profile of their products without compromising taste or quality is favoring the market growth.

• Growth in Biofuel and Renewable Energy Sectors:

The burgeoning utilization of canola oil in the biofuel and renewable energy sectors is contributing to the market growth. In line with this, the burgeoning product application as a key feedstock for biodiesel production is creating a positive outlook for the market growth. Along with this, the imposition of various government initiatives that promote sustainable energy solutions, boosting the need for biodiesel derived from canola oil, is anticipated to drive the market growth. Apart from this, the growing emphasis on reducing greenhouse gases (GHGs) in the transportation sector, boosting the demand for biodiesel, is providing an impetus to the market growth.

Canola Oil Market Report Segmentation:

Breakup By Application:

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

Cooking account for the majority of shares due to the widespread use of canola oil in households and commercial kitchens for its versatility and health benefits.

Breakup By Packaging:

• Cans
• Drums
• Bottles
• Pouches
• Others

Drums dominates the market as they are the preferred packaging option for bulk buyers like food manufacturers and restaurants, who require large quantities for daily operations.

Breakup By Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Europe holds the leading position owing to a large market for canola oil driven by driven by the high demand for healthy and plant-based oils, the region's stringent food quality standards, and the rising biofuel industry.

Top Canola Oil Market Leaders:

The canola oil market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies.

Some of the key players in the market are:

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

Ask Analyst & Browse full report with TOC List of Figures: https://www.imarcgroup.com/request?type=report&id=820&flag=C

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact.

The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement

Contact US:

IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No: (D) +91 120 433 0800
United States: +1-631-791-1145

This release was published on openPR.