Rapeseed, also known as rape, oilseed rape, is a bright-yellow flower, cultivated mainly for its oil-rich seed. It is the third-largest source of vegetable oil.
Major factor driving growth of the rapeseed oil market is increasing demand for rapeseed oil from food processing and biodiesel industry. In addition, rising health concern among people and rising preference for rapeseed oil are other factors expect to support growth of the global rapeseed oil market.
The global rapeseed oil market is segmented on the basis of application and region.
The application segment of global rapeseed oil market is segmented on the basis of food processing, bio-fuel, and cosmetics & personal care. The food processing segment is estimated to dominate the global rapeseed oil market and is expected to dominate the market over the forecast period. The bio-fuel segment is projected to register highest CAGR over the forecast period.
On the basis of region, the global rapeseed oil market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
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The market in Asia Pacific is expected to account for larger share compared to other markets in the global market in terms of revenue, owing to increasing demand from food processing industry in countries in the region. The market in North America is expected to account for significant revenue share in the global market. The North America and Europe markets are projected to register lucrative CAGR in terms of revenue over the forecast period, owing to presence of major players operating in emerging economies in this region.
Key players operating in the global rapeseed oil market include Cargill Incorporated, CCS Estates, Folba Oil Limited SDN, MACKINTOSH OF GLENDAVENY LIMITED, Ola Oils, Pacific Coast Canola LLC, RISOIL S.A., ConAgra Foods Inc., Yorkshire Rapeseed Oil, and The Archer Daniels Midland Company.