Portland, OR, June 16, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global rapeseed oil market generated $20.83 billion in 2020, and is projected to reach $37.19 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Significant surge in health-consciousness of individuals, rise in awareness about the health benefits offered by rapeseed oil, and extensive application of rapeseed in cosmetics & personal care products are expected to drive the growth of the global rapeseed oil market. On the other hand, high production of substitute oilseeds is expected to hinder the growth to some extent. However, wide application of rapeseed in the manufacturing of bio-diesel in European Union is expected to create remarkable opportunities for the industry.
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COVID-19 Scenario
- The outbreak of COVID-19 has had a negative impact on the growth of the global rapeseed oils market, owing to the presence of lockdowns in various countries across the globe. Lockdowns resulted in the closure of all hotels, restaurants, cafes and others where rapeseed oil was extensively used. This was due to the stringent social distancing restrictions imposed by the government so as to curb the spread of the virus during the pandemic.
- In addition, disruptions in supply chain, severs import-export restrictions, and spike in the prices of vegetable oil further aggravated the impact on the market.
- However, the market is expected to recoup soon,
The report offers a detailed segmentation on the global rapeseed oil market based on type, application, distribution channel and region.
Based on type, the processed segment held the largest market share in 2020, garnering more than four-fifths of the total market. The virgin segment, on the other hand, is expected to cite the fastest CAGR of 6.69% during the forecast period.
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Based on application, the food processing segment held the majority market share in 2020, holding nearly three-fourths of the total market. The cosmetics and personal care segment, on the other hand, is predicted to cite the fastest CAGR of 5.8% during the forecast period.
Based on region, the market across Asia-pacific held the lion’s share in 2020, garnering nearly half of the total market. The North America region, on the other hand, is projected to exhibit the fastest CAGR of 6.24% during the forecast period.
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The key players analyzed in the global rapeseed oil market report include The Archer Daniels Midland Company, Associated British Foods plc., Cargill Incorporated, ConAgra Foods, Inc. (CAG), CSS Estates, Mackintosh of Glendaveny, Ola Oils, Glencore Grain Investment LLC, RISOIL S.A., and Yorkshire (Breckenholme Trading Company).
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
