Global Canola Oil Market: Increasing Prevalence of Cardiovascular Diseases to Drive Growth, Says TMR

The global market for canola oil has been witnessing a substantial rise in its size and valuation, states a new research study by Transparency Market Research (TMR). The report, titled “Canola Oil Market - Global Industry Analysis, Size, Share, Growth, Trend and Forecast 2016–2024,” offers an in-depth analysis of this market, emphasizing on the driving force, key trends, challenges, and opportunities. It also studies the past and existing performance of this market to estimate its future status.

According to the research report, the increasing prevalence of cardiovascular diseases is the key factor fueling the demand for canola oil. Due to its rich omega-3 and omega-6 fatty acid contents, it demand is likely to continue increasing over the forthcoming years.

The report broadly evaluates the global canola oil market on the basis of end users and the geography. The retail sector, the cosmetics industry, the food processing market, and restaurants have emerged as the prime consumers of canola oil across the world, among which the retail sector has acquired the leading position. The cosmetic industry is also anticipated to record a healthy rise in the demand for canola oil in the years to come, states the report.

In terms of the geography, the global market for canola oil has been classified into Europe, North America, Asia Pacific, and Rest of the World in this report. Europe has been leading this market and is anticipated to remain on the top over the next few years, thanks to the high production of canola oil in this region. Canada has emerged as the key exporter of canola oil across the world and is projected to maintain its position in the near future.

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Asia Pacific is another significant regional market for canola oil and is expected to rise by leaps and bounds over the forecast period with the increasing production in China, soaring demand for this oil in the retail industry, and the availability of robust distribution channels, reports the study.

The research study also offers a competitive analysis of the global market for canola oil on the basis of the performance of the key players and their future projects. As per the report, the market displays a highly fragmented structure due to the presence of a large pool of participants, such as The J.M. Smucker Co., Archer Daniels Midland Co., Jivo Wellness Pvt. Ltd, and Associated British Foods Plc. With the rocketing demand for canola oil, the rivalry in this market is expected to intensify over the next few years, notes the market study.

Global Canola Oil Market: Associated Health Benefits to Drive Demand, says TMR

A large number of people are switching to canola oil on account of the various health benefits it offers. Transparency Market Research (TMR) in its latest report, answers key questions with regards to the future growth prospects and scope of the canola oil market. The report is titled “Canola Oil Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024Top of Form.” It segments the market on the basis of key criteria and also discusses the leading, fastest growing, and declining segments. The key driving factors and those challenging the market are both discussed in detail. In addition to this, the report identifies future opportunities of growth within the canola oil market. The degree of competition, bargaining power of suppliers and buyers, threat of substitutes, and barriers faced by new entrants are given in the report, making it a must have for investors, wishing to make profits in the canola oil industry.

Canola oil is being used extensively on account of the growing number of patients suffering from heart ailments. As canola oil contains omega 3 and omega 6 fatty acids, which are good for the heart, the demand for this oil is anticipated to escalate in the coming years. As per the report, canola oil is the third largest oil crop in the world and is being used not only in the food industry but also in oleo chemicals and bio-fuels. Canola oil also has numerous beauty benefits, and thus used in the cosmetic industry extensively. Some of the benefits of canola oil in terms of beauty are blemish, wrinkle, fine lines, and acne control. In addition to this, the remaining material is used as livestock feed and is the second most popularly used feedstock. However, the price of canola oil is high and therefore substitute such as soybean are used. This is expected to restrain the growth of the market.

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By geography, the market is expected to be led by Europe which produces the highest quantity of canola oil in the world. China is second in terms of production volume and Canada is the leading exporter of canola oil, making both Asia Pacific and North America lucrative markets. The global canola oil market is fragmented and some of the leading manufacturers of canola oil include Jivo Wellness Pvt. Limited, Associated British Foods plc, Archer Daniels Midland Company, and The J.M. Smucker Company. As per the report, the market competition is anticipated to intensify in the coming years. The study also gives information regarding mergers and acquisitions, and recent developments by key companies.

Canola Oil Market: What's Next? The Biggest Augmented Reality Trends of 2016-2024

Global Canola Oil Market: Overview

The use of canola oil has increased over the years. Due to its high demand, the production of oil has also augmented remarkably. A considerable section of the population is switching to this oil due to its health benefits, especially for heart ailments. It contains omega-3 and omega-6 fatty acids that are good for heart. It is also the third-largest oil crop in the world. Canola oil is obtained from the seeds of rapeseed. Its usage can be found in the food industry, biofuels, and oleo chemicals.

On the basis of end use, canola oil can be segmented into retail, cosmetics, restaurants, and food processing. The retail segment holds the maximum market share. The cases of heart ailments are increasing and people are preferring to use safer and healthier alternatives such as canola oil. Plus, in the cosmetic industry, this is considered as a wonder oil for its multiple benefits.

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In the report, Transparency Market Report (TMR) provides a detailed analysis of drivers and restrictions in the global canola oil market. It also delivers insight into the segments and regions of the market.

Global Canola Oil Market: Drivers and Restraints

Canola oil has several health and beauty benefits. With a large section of the population suffering from cardiovascular diseases, canola oil is used widely due its omega-3 and omega-6 fatty acid contents. High oleic acid properties in canola oil aid in lowering the level of bad cholesterol without disturbing good cholesterol present in our body, thereby limiting the risk of heart ailments. The growing awareness about the goodness of canola oil is one of the crucial factors responsible for the growth of the market. Moreover, the use of canola oil in the cosmetic industry has increased exponentially. With its anti-aging properties, this oil is useful in controlling wrinkles, blemishes, acne, and fine lines. Another driving factor is the use of the remaining material as livestock feed, which is considered the second-most favored feedstock after soybean.

The prices of canola oil are comparatively higher than other edible oils available in the market, restricting its large-scale adoption. In addition, the readily available substitute, soybean, limits the growth of the global canola oil market.

Global Canola Oil Market: Regional Outlook

On the basis of region, the market can be segmented into Europe, Asia Pacific, North America, and Rest of the World. Europe accounts for the dominant share in the canola oil market. It is also the leading producer of canola oil in the world. Among the countries in the world, China comes in second, in terms of production volume, whereas, Canada leads in terms of total export of canola oil, this makes Asia Pacific and North America prominent regional players of the market.

Canola oil is gaining prominence not only in developed economies, but in emerging economies as well. The market is growing by leaps and bounds due to heavy demand from retail sectors and strong distribution channels.

Companies Mentioned in Report

The market for canola oil is highly fragmented and with the growing demand, the competition is expected to get intense in the coming years. Some of the prominent players in the canola oil market are Archer Daniels Midland Company, Associated British Foods plc, Jivo Wellness Pvt. Limited, and The J.M. Smucker Company.

Canola Oil Market Growth to Remain Positive Through 2024, Demand Greased by Health Benefits of Canola

Canola currently stands as the third largest oil crop in the world – a factor that demonstrates the growth in demand that canola oil has witnessed over the last couple of decades. In a new report, titled ‘Canola Oil Market - Global Industry Analysis, Size, Share, Trends and Forecast 2016 – 2024,’ Transparency Market Research studies the trends that are expected to impact the dynamics of this market. According to the report, the share of canola oil in the global edible oil market is expected to rise consistently owing to greater awareness about the health benefits that canola offers. Given its ingredients such as omega 6 and omega 3 fatty acids, health-conscious consumers are now becoming keener on exploring the use of canola oil in their diets.

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The quantity of oleic acid in canola oil is high, making it an agent that can help in controlling bad cholesterol without impacting the good cholesterol in the blood. With the growing awareness about consuming foods that are conducive to maintaining cardiovascular health, more consumers are being drawn toward canola oil. Besides direct consumption being a key growth driver for canola oil sales, its use in the personal products and cosmetics industry is also expected to create valuable opportunities for this market. The anti-aging properties of canola oil are prompting more cosmetics manufacturers to formulate products using it as an ingredient. Besides helping ease the visible signs of aging, canola oil is also regarded as being effective in lightening blemishes, fine lines, and spots.

Although these drivers will ensure clear growth for the global canola oil market, there is an important restraint that is impeding the market’s growth: Canola oil is more expensive than other commonly used edible oils on the market. This could cause consumers to hesitate from purchasing canola oil where other alternatives are available.

From the geographical standpoint, a sizable demand for canola oil comes from countries in Europe. The region is also a leading producer of canola oil. In terms of volume, nearly 40% of the global canola production came from Europe in 2014. Among the key countries where canola is produced, China is an important market. In 2014, China’s stake in the global canola oil market was greater than 12%. The country also leads in terms of exports of canola oil. Canada and Russia have been identified as other important exporters of canola oil.

Companies that currently prominently feature on the leaderboard of the global canola oil market are: Archer Daniels Midland Company, ConAgra Foods, Inc, Associated British Foods plc (Ach Food Companies Inc.), Jivo Wellness Pvt. Limited, and The J.M. Smucker Company.

Canola Oil Market - Global Industry Analysis, Trends and Forecast 2016 – 2024

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.