Rapeseed Oil Global Market Report 2024

The rapeseed oil market size has grown strongly in recent years. It will grow from $24.81 billion in 2023 to $26.27 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The increase during the historical period can be ascribed to an increasing desire for edible oils, a positive perception of healthy oils, the production of biodiesel, the expansion of rapeseed cultivation, varied applications, nutritional advantages, and preferences in cooking oils.

The rapeseed oil market size is expected to see strong growth in the next few years. It will grow to $32.78 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The expansion anticipated in the forecast period can be attributed to a shift towards plant-based diets, increasing health consciousness, preferences for clean labels, global population growth, and considerations related to trade agreements and tariffs. Key trends expected in the forecast period encompass technological innovations, sustainable and organic production practices, advancements in processing technologies, quality certification, traceability, and market challenges posed by alternative oils.

The anticipated surge in demand for biodiesel is poised to drive the expansion of the rapeseed oil market in the foreseeable future. Biodiesel, a domestically produced biodegradable and renewable fuel derived from vegetable oils, animal fats, or recycled restaurant grease, utilizes oil from rapeseed or canola seed, both edible crop varieties. Canola biodiesel, specifically, solidifies at a lower temperature compared to biodiesel from alternative feedstocks, making it a superior fuel for colder climates. For example, the Union for the Promotion of Oil and Protein Plants (UFOP), a Germany-based organization overseeing oil and protein crop cultivation, processing, and marketing, reported that biodiesel and hydrotreated vegetable oil consumption for blending surpassed 1.23 million tons in the first half of 2022, reflecting a 6.3% increase from the same period in 2021. Hence, the rising demand for biodiesel is a key driver of the rapeseed oil market's growth.

The escalating production of animal feed is anticipated to be a catalyst for the rapeseed oil market's expansion in the coming years. Feed production involves the transformation of raw agricultural products into animal feed tailored to meet specific nutrition requirements for various animal species at different life stages. Increasing consumer emphasis on healthy eating habits is contributing to the demand for rapeseed oil, known for its high levels of antioxidant vitamin E and monounsaturated fats. According to the 11th annual feed survey by Alltech, a US-based agricultural products company, global feed production saw a 2.3% increase in 2021, reaching 1.235 billion tons, up from 1.187 billion tons in 2020. Consequently, the growth in feed production is propelling the rapeseed market.

The rapeseed oil market is witnessing a notable trend in product innovations, with major companies concentrating on introducing advanced products to gain a competitive edge. As an illustration, Solvay S.A., a Belgium-based chemical company, unveiled two high-performance biosurfactants, Mirasoft SL L60 and Mirasoft SL A60, in June 2022. These biosurfactants, derived from rapeseed oil and sugar, possess minimal environmental and carbon footprints, making them suitable for eco-friendly beauty care products such as shampoos, conditioners, shower gels, face washes, and creams. Designed to function similarly to synthetic substances without environmental risks, Mirasoft SL L60 and Mirasoft SL A60 are easily biodegradable and 100% bio-based, aligning with Solvay's commitment to sustainability and the development of a circular, regenerative economy.

Major players in the rapeseed oil market are actively introducing advanced products such as high-quality canola protein isolate to secure a competitive advantage. For instance, in November 2022, Royal DSM, a Netherlands-based chemicals company, launched Vertis CanolaPRO, a high-quality canola protein isolate. Canola seeds, also known as rapeseeds, stand out as one of the few plant sources globally that provide complete protein, containing all nine essential amino acids crucial for optimal health. Vertis CanolaPRO enables food and beverage manufacturers to create plant-based products with complete proteins and no significant allergies.

In March 2022, Cargill Inc., a US-based developer, manufacturer, and distributor of agricultural products, entered into a partnership with ChemPoint.com Inc. The collaboration aims to enhance the overall experience for Cargill's Agri-Pure customers by focusing on the distribution, marketing, and sales of the naturally derived, plant-based rapeseed oil methyl ester Agri-Pure AP-406 in the EMEA region. ChemPoint.com Inc., a US-based online distributor of specialty chemical products and services, is a key player in this strategic alliance.

Major companies operating in the rapeseed oil market report are Bunge Limited, CCS Estates Limited, Ola Oils Ltd., Yorkshire Rapeseed Oil Ltd., Archer Daniels Midland Company, Mackintosh of Glendaveny Ltd., Interfat SA, Louis Dreyfus Company BV, Sodrugestvo Group SA, Midlands Holdings Limited, Abu Dhabi Vegetable Oil Company LLC, Rein Oil CC, Gujarat Ambuja Exports Limited, K. S. Oils Limited, Cargill Incorporated, ConAgra Foods Inc., RISOIL S.A., Sodrugestvo, Adams Group Inc., American Vegetable Oils Inc., Grief Inc., Ruchi Soya Industries Limited, Vantage Performance Materials, Perdue Agribusiness LLC, Natures Crops International Limited, Folba Oil Limited SDN, ViOil Industrial Group, Viterra Inc., Associated British Foods plc.

Asia-Pacific was the largest region in the rapeseed oil market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the rapeseed oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the rapeseed oil market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of rapeseed oil are processed and virgin rapeseed oil. Processed rapeseed oil undergoes extraction using high heat and/or chemical solvents, followed by further cleaning with chemicals to produce a flavorless oil with a high smoke point. These oils are available in both organic and conventional forms, extracted through processes such as aqueous and enzyme-based methods. Distribution channels for rapeseed oil include supermarkets, hypermarkets, online stores, specialty stores, retail outlets, and other distribution channels. The oil finds use in various end-uses, including food and beverage, cosmetics and personal care products, biodiesel production, animal feed, and household applications.

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The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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