Canola Oil Market Analysis, Growth Opportunities, Future Demand And Leading Player By Forecast To 2027
Global Canola Oil Market – Overview
Increased demand of canola oil used in different segments including commercial and non-commercial purposes has uplifted the consumption of canola oil. Additionally, health benefits associated with the consumption is driving the growth of Canola Oil Market globally. Market Research Future, a firm which specializes in market reports related to the Foods, Beverages & Nutrition sector among others, recently forecasted in its report “Global Canola Oil Market Research Report- Forecast to 2023” that the market will demonstrate an exceptional CAGR % while achieving million dollar growth readily in the forecast period.
The use of canola oil has amplified over past few years. Canola oil is obtained from the seeds of rapeseed. Owing to high demand, the production has also augmented remarkably. A substantial portion of population is switching to this oil due to its health benefits, especially for cardiac ailments. It contains omega-3 and omega-6 fatty acids that are good for heart health. It is widely used in foods and beverages, production of biofuels, and oleo chemicals. Leading edible oil companies are focusing more on R&D in terms of product innovations. Canola oil is serving as better alternative to conventional edible oils which has extra fat and lipid content. Innovations and upgrading technology have been principle of the research wing. Through extensive research and techniques, the companies are developing oils with aided health benefits.
Global Canola Oil Market – Segments
The global Canola Oil Market has been divided into type, processing type, application, and region.
On the Basis of Type: Polish canola, Argentine canola, Brown mustard, and Canola
On the Basis of Processing Type: Refined, Modified, Hand Made, Crude, and Others
On the Basis of Application: Culinary, Processed foods, Lubricants, Personal care, Bio-diesel, and Others
On the Basis of Region: North America, Europe, Asia Pacific, and ROW
Latest Industry Updates
Aug 2017 Finlandia Cheese Inc., has added two new products in its range, spreadable butter with canola oil and 25% reduced-fat spreadable butter with canola oil. The butter is made with non-GMO canola oil. Strategic product launch will help in strengthening company’s business portfolio.
Oct 2016 MSM Milling, has launched its new canola oil brand “auzure”. The company also inaugurated its integrated canola oilseed processing unit for transforming canola seed. This will help the company to maximize its production capacity.
Sep 2016 Canadian Agro India, has launched its new product in the name of “Canapure canola cooking oil”. The company is highly inclined towards R&D activities. This initiative by the company will help to improve the quality of its product line.
Aug 2016 Cargill Inc., has expanded its canola research facility in Aberdeen, Saskatchewan. Strategic business expansion by the company will lead in specialty canola seed breeding. In...
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