Summary:

• The global canola oil market size reached 28.8 Million Tons in 2023.
• The market is expected to reach 32.2 Million Tons by 2032, exhibiting a growth rate (CAGR) of 1.1% during 2024-2032.
• Europe leads the market, accounting for the largest canola oil market share.
• Cooking accounts for the majority of the market share in the application segment due to the increasing popularity of healthy cooking practices. 
• Drums represents the leading packaging segment, owing to their capacity to hold substantial quantities.
• The increasing focus on health by consumers is a primary driver of the canola oil market.
• The rising product demand in the food industry and the heightened focus on sustainable practices are reshaping the canola oil market.

Industry Trends and Drivers:

• Growing Health Consciousness Among Consumers:

The rising awareness of health and wellness is one of the major factors driving the market growth. Moreover, the increasing consumer priority towards healthier cooking oils, boosting the use of canola oil due to its favorable nutritional profile, including low saturated fat and high omega-3 fatty acid content, is catalyzing the market growth. Along with this, the growing availability of studies that showcase the oil’s heart-healthy benefits, leading to a surge in demand from health-conscious consumers, is fostering the market growth. Furthermore, the ongoing shift towards oils that are perceived as healthier alternatives to traditional fats as obesity and related health issues become more prevalent is contributing to the market growth.

• Expansion of Food Processing and Culinary Applications:

The expansion of the food processing industry is another key driver fueling the market growth. Moreover, the growing demand for processed foods, boosting the use of canola oil as an ideal ingredient for a variety of applications, such as frying, baking, salad dressings, and sauces, is fostering the market growth. Besides this, the increasing product utilization by manufacturers due to its neutral flavor, which allows the true taste of food to shine through, making it a staple in the production of snacks, baked goods, and ready-to-eat (RTE) meals, is enhancing the market growth. Additionally, the growing trend of convenience foods, leading to the increased use of canola oil, owing to its stability at high temperatures, is boosting the market growth.

• Rising Focus on Sustainable Farming Practices and Biodiversity:

The increasing environmental consciousness among consumers, leading to a preference for oils that are produced through sustainable farming methods, is acting as a growth-inducing factor. In line with this, the rising adoption of canola oil, as it is sourced from non-genetically modified organisms (GMO) and organic farms, is enhancing the market growth. Along with this, the introduction of initiatives that promote biodiversity and reduce carbon footprints, such as crop rotation and reduced pesticide use, is creating a positive outlook for the market. Besides this, the imposition of various government regulations that focus on sustainability, thereby enhancing the appeal of canola oil and meeting regulatory requirements is providing a thrust to the market growth.

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Canola Oil Market Report Segmentation:

Breakup By Application:

• Cooking
• Processed Foods
• Lubricants
• Personal Care
• Biofuels
• Others

Cooking account for the majority of shares due to its widespread use in households and restaurants for frying, sauteing, and baking.

Breakup By Packaging:

• Cans
• Drums
• Bottles
• Pouches
• Others

Drums dominates the market as they are widely used in commercial settings, such as food processing and large-scale restaurants.

Breakup By Region:

• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
• Middle East and Africa ( Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)

Europe holds the leading position owing to a large market for canola oil driven by driven by high consumer awareness of health benefits, rising preference for healthier cooking oils, and the stringent regulations and support for sustainable agricultural practices.

Top Canola Oil Market Leaders:

The canola oil market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies.

Some of the key players in the market are:

• Archer Daniels Midland (ADM) Company
• Bunge Limited
• Cargill Inc.
• Associated British Foods plc
• Jivo Wellness Pvt. Ltd.
• Arla Foods AmbA
• Richardson International Limited
• The J.M. Smucker Company
• Wilmar International Inc.

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