Global Canola Oil Market 2017-2021
About Canola Oil
Canola oil is rich in fat-soluble vitamins, beta-carotene, and omega 3 and 6 fatty acids, helps in slowing down the digestion process, and provides warmth to the body. It has lower fat content and a good amount of unsaturated fats. It is the third-largest consumed oil crop and second-most preferred feedstock. Traditionally, Canadian plant breeders obtained canola oil from rapeseed. However, currently, the oil is obtained by crushing canola seeds. The Canadian industry adopted the name Canola in 1978, which was derived from CANadian Oil, Low Acid.
Technavio’s analysts forecast the global canola oil market to grow at a CAGR of 5.48% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global canola oil market for 2017-2021. To calculate the market size, the report considers the product applications, end-user segmentation, and geographic segmentation.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Canola Oil Market 2017-2021
Technavio recognizes the following companies as the key players in the global canola oil market: Archer Daniels Midland, Associated British Foods, Bunge, Cargill, and Wilmar International.
Other Prominent Vendors in the market are: Conagra Foodservice, DalmiaShop, Huiles TITAN OILS, Jivo Wellness, Louis Dreyfus Company (LDC), Parrish and Heimbecker, Paterson Grain, Richardson International, Sunora Foods, The J.M. Smucker Company, and Viterra.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is use of canola oil in plasticizers and adhesives. Plasticizers are additives used to enhance the properties and processing characteristics of polymers. These solvents have high boiling points and can increase the volume of the polymer, thereby reducing the viscosity and glass transition temperature. They are used in the rubber industry to mitigate rubber compounds for proper mixing and processing. The type of the oil that will be used in plasticizer depends on the application of the rubber compound. This is very important as it determines the physical and chemical properties of the compound.”
According to the report, one of the major drivers for this market is increasing demand in developing countries. The demand for canola oil is increasing in most developing countries like China, India, Pakistan, and developed countries like the UAE and the US. This is due to the growing consumer awareness about health and nutrition, rising disposable income, and increase in the middle-class population in these regions.
Further, the report states that one of the major factors hindering the growth of this market is limitations associated with genetically modified canola seeds. Genetically modified canola seeds have witnessed an increase in their production as they are tolerant to various herbicides. Two types of genetically modified canola seeds are developed in Australia — Roundup Ready and InVigor canola — where each variety is resistant to a different kind of herbicide. However, these genetically modified variants face serious concerns while product labeling and complying with various stringent regulations.
Archer Daniels Midland, Associated British Foods, Bunge, Cargill, Wilmar International, Conagra Foodservice, DalmiaShop, Huiles TITAN OILS, Jivo Wellness, Louis Dreyfus Company (LDC), Parrish and Heimbecker, Paterson Grain, Richardson International, Sunora Foods, The J.M. Smucker Company, and Viterra.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook