IMARC Group, a leading market research company, has recently releases report titled "Rapeseed Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032" The global rapeseed oil market size reached US$ 35.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 54.9 Billion by 2032, exhibiting a growth rate (CAGR) of 4.67% during 2024-2032.
Rapeseed oil refers to yellow-golden or yellow-brownish oil extracted from the seeds of red and black rapeseed plants and is mostly known for its earthy, neutral, and nutty flavor. It is available in processed, virgin, organic, and conventional categories. These rapeseed oil variants are lighter as compared to other cooking oil and are rich in monounsaturated and polyunsaturated fatty acids, including oleic acid, linoleic acid, alpha-linolenic acid, etc. They are one of the only unblended oils which can be heated to high frying temperatures without any loss of antioxidants, color, or flavor. Rapeseed oil products offer numerous health benefits, such as improved digestion, reduced cholesterol, enhanced gallbladder function, decreased risks of cardiovascular diseases, etc. Consequently, they find extensive applications across various sectors, including food and beverage (F&B), chemical, biofuel, cosmetics and personal care, etc.
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Rapeseed Oil Market Trends and Drivers:
The escalating awareness about the health benefits offered by rapeseed oil and the shifting preferences toward healthy dietary habits among the masses are primarily driving the rapeseed oil market. Additionally, the growing adoption of the oil in the formulation of multiple skincare creams, lotions, oils, and ointments and the elevating product usage in scar removal applications post-cosmetic surgeries are also positively influencing the market growth. Moreover, the development of advanced oil manufacturing technologies and the launch of value-added products are further stimulating the global market. Besides this, the expanding availability of the oil via offline and online organized retail channels is acting as another significant growth-inducing factor. Furthermore, the rising demand for dietary fats and oils and the increasing product requirement for animal feed production are anticipated to bolster the rapeseed oil market over the forecasted period.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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