Canola Oil Market to Hit USD 46.49 Bn at a Growth Rate of 3.81 percent- Says Stellar Market Research

Canola Oil Market to Hit USD 46.49 Bn at a Growth Rate of 3.81 percent- Says Stellar Market Research

“Canola Oil Market”
The Canola Oil Market size of the North American region is expected to dominate the market during the forecast period. Canola Oil Market analysis was conducted by type of nature, applications and distribution channels. The bottom-up approach was used to estimate the Canola Oil Market size forecast.

Stellar Market Research, a Food & Beverage Business research firm has published a report on the “Canola Oil Market”. The total market revenue for the Canola Oil Market was USD 35.21 Bn in 2023 and is expected to grow at 3.81 percent CAGR throughout the forecast period, to reach nearly USD 46.49 Bn.

Canola Oil Market Report Scope and Research Methodology

Market Size in 2023: USD 35.21 Billion

Market Size in 2030: USD 46.49 Billion

CAGR: 3.81Percent

Forecast Period: 2024-2030

Base Year: 2023

Number of Pages: 228

No. of Tables: 134

No. of Charts and Figures: 190

Segment Covered: By Nature, Application and Distribution Channel.

Regional Scope: North America, Europe, Asia Pacific, and Africa, South America

Report Coverage: Market Share, Size and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, Stellar Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

The report provides an in-depth analysis of the strategies of the top players in the Canola Oil industry with an in-depth analysis of the market segments and regions. A detailed analysis of market dynamics including drivers, restraints, opportunities, and challenges is provided region-wise and segment-wise, in the Canola Oil Market report. It also includes figures for import/export consumption, supply and demand, price, cost, revenue, and gross margins which makes it an investor’s guide.

The data for the Canola Oil Market report was collected using primary and secondary research methods, which were combined to make the report authentic. The primary research conducted includes questionnaire distribution, surveys, and phone interviews with Canola Oil industry experts, market leaders, marketing professionals, and entrepreneurs. The bottom-up approach has been used to estimate the global and regional Canola Oil market size. SWOT analysis was used to provide the strengths and weaknesses of Canola Oil’s key players in the industry.

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Canola Oil Market Overview

Canola oil represents an edible vegetable oil that is extracted from rapeseed, which belongs to the Brassicaceae family. It acts as a rich source of monosaturated fats, vitamin E, omega-3 and omega-6 fatty acids, etc. As compared to other vegetable oils, canola oil contains lower amounts of saturated and trans-fats. As a result, it offers various health benefits such as lowering cholesterol, boosting heart health, improving brain function, and preventing type-2 diabetes. This represents a major catalyst for the growth of the global canola oil market. There has been a growth in the applications of canola oil in the food industry where it is used for stir-frying, grilling, baking, sautéing, salad dressing, and shortening. This is increasing the demand for canola oil across the globe.

Canola Oil Market Dynamics

The continuous growth of the food and beverage (F&B) industry and the increasing use of canola oil in various culinary applications are strengthening the growth of the market. The high smoking point and mild flavor of canola oil make it suitable for a wide range of cooking techniques, from deep-frying to stir-frying. Its neutral taste allows it to complement diverse cuisines without overpowering the natural flavors of the ingredients. Along with this, the rising popularity of Asian and Mediterranean cuisines, which often utilize canola oil, is contributing to its global acceptance. These cuisines emphasize the use of heart-healthy fats and cooking methods that align with the properties of canola oil. In line with this, the widespread adoption of plant-based diets and the growing emphasis on incorporating healthier fats into meals is offering a favorable market outlook. It is a preferred choice for vegans, vegetarians, and those following Mediterranean or dietary approaches to stop hypertension (DASH) diets.

Canola Oil Market Regional Insights

The North American region is poised to capture a substantial share of the global canola oil market. The United States stands as one of the largest consumers of canola oil, ranking it as the second most popular edible oil in the country. According to statistics from the Canadian International Merchandise Trade Database, the total vegetable oil consumption in the USA reached a staggering 18.9 million metric tonnes in 2021, with 1.9 million metric tonnes of canola oil worth CAD 3.5 billion imported from Canada during the same year. In Canada, canola oil reigns supreme as the most widely consumed edible oil among consumers, accounting for more than 50% of all vegetable oil consumed in the country. The driving force behind the market’s growth in this region is the shift in consumer preferences towards healthier food choices and the rising incidence of chronic diseases such as diabetes and cardiovascular conditions. The prime markets in the North American region include the United States, Canada, and Mexico, where the demand for canola oil is particularly robust.

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Canola Oil Market Segmentation

By Nature

  • Organic
  • Conventional

By Application

  • Food Processing
  • Household
  • Personal Care
  • Biofuels
  • Others

By Distribution Channel

  • Store-Based
  • Non-Store Based

Canola Oil’s Key Competitors include

  • Archer Daniels Midland Company (ADM) – USA
  • Bunge Limited – USA
  • Cargill Inc. – USA
  • CHS Inc. – USA
  • Louis Dreyfus Company – Netherlands
  • Richardson International Limited – Canada
  • Sime Darby Oils – Malaysia
  • COFCO Corporation – China
  • Wilmar International Limited – Singapore
  • Nisshin OilliO Group, Ltd. – Japan
  • Borges Agricultural & Industrial Nuts – Spain
  • Astro Oils Pvt. Ltd. – India
  • Cootamundra Oilseeds Pty Ltd. – Australia
  • Louis Dreyfus Company – Netherlands
  • Sunora Foods Inc. – Canada
  • Associated British Foods – United Kingdom
  • Jivo Wellness Pvt Ltd – India
  • American Vegetable Oils – United States
  • Highwood Crossing Foods – Canada
  • La Touramgelle – France

Key questions answered in the Canola Oil Market report are:

  • What is Canola Oil?
  • Which market segment held the largest share of the global Canola Oil market in 2023?
  • What are the global trends in the Canola Oil Market?
  • What are the upcoming industry applications and trends for the Canola Oil Market?
  • What are the recent industry trends that can be implemented to generate additional revenue streams for the Canola Oil Market?
  • What growth strategies are the players considering to increase their presence in the Canola Oil Market?
  • Who are the leading companies and what are their portfolios in the Canola Oil Market?
  • What are the major challenges that the Canola Oil Market could face in the future?
  • Which region held the largest Canola Oil Market Share in 2023?

Key Offerings:

  • Past Market Size and Competitive Landscape (2018 to 2022)
  • Past Pricing and price curve by region (2018 to 2022)
  • Market Size, Share, Size & Forecast by Different Segment | 2024−2030
  • Canola Oil Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
  • Canola Oil Market Segmentation – A detailed analysis by Nature, Applications, Distribution Channel, and Region
  • Competitive Landscape – Profiles of selected key players by region in a strategic perspective
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations

Stellar Market Research is leading Food & Beverage Research Firm, has also published the following reports:

Coconut Oil MarketThe market size was valued at US$ 3.60 Bn. in 2023 and is estimated to grow at a CAGR of 7.3% over the forecast period.

Global Fish Oil MarketThe market size was valued at USD 2.37 Billion in 2023 and the total Fish Oil revenue is expected to grow at a CAGR of 5.9% from 2024 to 2030, reaching nearly USD 3.54 Billion by 2030.

About Stellar Market Research:

Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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