Overview
Production
of canola seed has grown rapidly over the past forty years. Globally
canola has become the third largest oil crop. Canola production
occupies 15% to 20% of word oil crop production. Canola oil is
produced from crushing canola seed which is the third most produced
vegetable oil across the globe. After deriving the oil the remaining
material is used as a meal for livestock feed. This is the second
most preferred feed stock after soybean. Canola oil contributes
approximately 20% to 25% share in Edible oil market. Canola oil is
very much suitable for heart health as it contains both omega-3 and
omega-6 fatty acids, which is fueling the market growth across the
globe.
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Canola
Oil Market Segmentation
The
canola oil market has been segmented on the basis of end use which
includes food service restaurants, food processor, cosmetics and
retail (end consumers). Among all these segment retail segment is
expected to occupy the major market share. Rising cardiovascular
diseases has shifted the consumer focus towards consumption of food
containing low cholesterol which is expected to drive the segment
growth in the near future. Moreover, food processor segment is
expected to account for substantial growth over the forecast period.
Consumers are now focusing on healthy lifestyle, due to this they
carefully choose the products they buy and use. In addition, easy
access to information has made them aware about the availability of
different types of oils and fats in the market. Thus, now food
processors are trying to respond to consumer demand by offering
stable and healthy products.
Canola
Oil Market Regional Outlook
Global
canola oil market is also segmented on the basis of distribution
channel. The distribution channel is only segmented for retail (end
consumers). The distribution channel for retail includes supermarket,
hypermarket, departmental stores & grocery stores. Among all this
segment hypermarket & supermarket is expected to contribute major
share in the market. Groceries stores is expected to show a favorable
growth over the forecast period. Increasing penetration of health
food in smaller grocery stores is expected to support the segment
growth over the forecast period.
Globally
Europe is the major producer of canola oil. In 2014, the region
represented approximately more than 38.0% of share in terms of volume
production to total Canola oil market. Among the countries China was
the highest producer of canola oil contributing to approximately
23.0% of share in terms of volume production to overall canola oil
market. While, Canada occupied the second highest position in terms
of volume production of canola oil. In 2014, the country accounted
for more than 12.0% of share to the overall canola
oil market. Moreover in the same year China was the highest
exporter of canola oil followed by Russia. Canada accounted for more
the 65.0% of total export of canola oil.
Canola
Oil Market Drivers
Canola
oil comprises high oleic acid which can reduce the level of bad
cholesterol, without affecting the good cholesterol, thus limiting
the risk of developing heart disease. Which is expected to drive the
market growth in the near future. Moreover canola oil is also gaining
importance in cosmetics industry as it is good for skin and has an
ant aging properties such as it enables to control the fine lines,
wrinkles, acne, blemishes and spots which is further expected to
support the market growth over the forecast period. However, factors
such as canola oil is quite expensive as compared to other edible oil
and availability of other substitute such as soybean oil may affect
the market growth.
Canola
Oil Market Key Players
Key players operating in canola oil market includes Archer Daniels Midland Company, Associated British Foods plc (Ach Food Companies Inc.), ConAgra Foods, Inc, The J.M. Smucker Company and Jivo Wellness Pvt. Limited among others.
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