Canola Oil Market Analysis

Global Canola Oil Market Overview

Canola Oil Market Size was valued at USD 0.036 Billion in 2023. The Canola Oil industry is projected to grow from USD 0.0372 Billion in 2024 to USD 0.047 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 2.95% during the forecast period (2024 - 2032). Increased health concerns and challenges have led to more expensive operations and more bariatric procedures are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Canola Oil Market Trends

• Growing number of disease is driving the market growth

The rising number of diseases is driving Market CAGR for canola oil. Canola oil consumption alters biological processes that affect numerous other disease risk biomarkers. A growing body of studies suggests that canola oil consumption affects indicators other than blood lipids. Canola oil is advantageous for consumption since it contains omega-3 and omega-6 fatty acids, which form healthy cooking oils, and a lower percentage of saturated fats, eventually lowering cholesterol levels. In turn, this is fueling the market's demand. Vitamin E and other antioxidants found in canola oil reduce the growth and spread of cancer cells, which helps prevent cancer. It increases the body's energy levels by reducing cholesterol levels and aids in maintaining a regular rate of metabolism.

Additionally, several producers use canola oil in skincare and beauty products due to its moisturizing qualities. Additionally helpful, it speeds up wound healing, reduces the onset of wrinkles, acne, and blemishes, and shields the skin from free radicals. Canola oil is a common ingredient in spa and hair care products since it helps improve hair condition by lowering dandruff, curly hair, split ends, and breakage. Canola oil is made at a processing plant by crushing and mildly heating the seed. Most commercial canola oil is then produced using the hexane solvent, which is recovered after processing. The canola oil is refined using water, rain, and organic acid to remove gums and free fatty acids. Canola oil has an average density of 0 p.92 g/ml. Organic canola vegetable oils are also offered. With around two to one monounsaturated to polyunsaturated fats, canola oil is considered safe for human consumption and has low saturated and significant amounts of monounsaturated fat. 

The use of canola oil in food-grade forms is often regarded as safe by the U.S. Food and Drug Administration because it poses no health risks. Comparing canola oil to carbs or saturated fats like butter, canola oil lowers blood LDL cholesterol levels and the risk of developing heart disease. India is a relatively new market for canola oil. Canola oil is popular in cosmetics because it reduces lines, blemishes, and spots. In the next years, the canola oil market is expected to expand due to the expansion of the cosmetics industry. The demand for canola oil is projected to increase in the next years due to the rising frequency of health-related problems, including cardiovascular disorders brought on by excessive cholesterol. Thus, driving the canola oil industry revenue.

Canola Oil Market Segment Insights

Canola Oil Category Insights

The market of Canola Oil segmentation, based on category, includes organic and conventional. The organic segment dominated the market, accounting for 35% of market revenue (78.48 Billion). Canola oil industry revenue growth is fueled by increased demand for healthier oils in meals to maintain cholesterol levels, rising use in feeds for live animals, fish, and poultry to boost productivity, and rising demand for canola oil inclusion in processed foods.

Canola Oil Packaging Type Insights

Based on packaging type, the Canola Oil market segmentation includes bottles, cans and others. The bottles segment dominated the market because it is strong, affordable, and readily recyclable. The packing of bottles only exposes the oil to air or contaminants once the cap is removed. Additionally, it safeguards oil, extending its shelf life and minimizing wastage. Because they can be produced in any shape, size, and material, including glass and plastic, they are also easy to change.

Canola Oil Distribution Channel Insights

The Canola Oil market segmentation, based on distribution channel, includes store- and non-store-based. The store-based category generated the most income (70.4%). As in-store-based, people can compare various canola oil products together. Canola is considered the best oil for making biodiesel because of its high energy content and ability to stay liquid at low temperatures. A chemical substance known as oleo chemicals is produced industrially from fats or oils originating from animals or plants. Oleo compounds are also made using canola oil. 

Figure 1: Canola Oil Market, by Distribution channel, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Canola Oil Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Canola Oil market area will dominate this market, owing to an increase in the number of persons affected by cardiovascular devices and obesity. In addition, the growing number of established health clubs and fitness facilities will boost market growth in this region.

Further, the major countries studied in the market report are The US, Canada, German, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: CANOLA OIL MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's Canola Oil market accounts for the second-largest market share due to the rise in demand for canola oil in cooking. The demand for canola oil in various foods and beverages, as well as for animal feeding, is growing due to an aging population, an increase in the prevalence of cardiovascular diseases, and growing public knowledge of the health benefits of canola oil. Further, the German market of Canola Oil held the largest market share, and the U.K. Canola Oil industry was the fastest-growing market in the European region.

The Asia-Pacific Canola Oil Market is expected to grow at the fastest CAGR from 2023 to 2032. The result of consumers' shifting preferences for healthy alternatives. The growing use of canola oil as a lubricant in candles, inks, and other products is another factor driving demand. Growing consumer desire for low-fat diets and expanding industry need for biodiesel drive market revenue growth. Additionally, the Indian market for canola oil had the quickest growth rate in the Asia-Pacific region, while China's canola oil industry had the greatest market share.

Canola Oil Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the Canola Oil market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The Canola Oil industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Canola Oil industry to benefit clients and increase the market sector. The Canola Oil industry has offered some of the most significant in recent years. Major Canola Oil industry players, including Cargill, Conagra Brands, Inc and others are attempting to increase market demand by investing in research and development operations.

 Cargill, Incorporated is an American multinational food conglomerate. Established in 1865, it has the greatest revenue of any privately held company in the U.S. Cargill has regularly come under fire regarding the environment, human rights, finances, and other ethical issues. The trading, buying, and distribution of grains and other agricultural products, including palm oil, the trading of energy, steel, and transportation; the raising of livestock and the production of feed; and the production of food ingredients like vegetable oils, starch and glucose syrup, and fats for use in processed foods and industrial use are some of Cargill's key businesses. In January 2021, A new commercial from Hudson Canola Oil emphasized the value of living a healthy lifestyle and staying active. Grapes Digital conceptualized and carried out the campaign. Health professionals advise using Hudson canola oil to protect you and your family from unwelcome health problems. With their video response to commonly asked questions on their social media platforms, the company generated interest around the fitness slogan of nine significant influencers.

An American holding company for consumer packaged goods with its headquarters in Chicago, Illinois, is Conagra Brands, Inc. (formerly ConAgra Foods). Conagra produces and markets goods under numerous brands in grocery stores, eateries, and other food-related businesses. Conagra provides various food items, such as peanut butter, hot cocoa, hot dogs, cooking oil, frozen dinners, and many more. Act II, Hunt's, Healthy Choice, Marie Callender's, Udi's Gluten-Free, Slim Jim, Reddi-Wip, Egg Beaters, Pam, Orville Redenbacher's, Earth Balance, Glutino, Angie's Boom Chicka Pop, Hebrew National, Duke's, Chef Boyardee, Home Menu, and Bertolli ready meals are just a few of the well-known trademarks owned by ConAgra.In June 2021, Canagra, the Wesson Oil brand and production facilities, had an agreement for a better purchase price. Richardson International has consented to provide business assurance.

Key Companies in the Canola Oil market include

• Bunge Limited


• Cargill Inc


• Jivo Wellness Pvt. Ltd


• Richardson International Limited


• Wilmar International Inc


• Associated British Food Plc


• Archer Daniels Midland Company.

Canola Oil Industry Developments

March 2023: A commercial partnership between Corteva Inc. and Chevron U.S.A. Inc., a division of Chevron Corporation, aims to create specialized winter canola hybrids that yield plant-based oil with a lower carbon profile. The objective is to boost the supply of vegetable oil feedstocks, mainly for the expanding domestic market for renewable fuels. To provide farmers with a sustainable crop rotation and a new source of income, the firms intend to introduce the winter canola crop to the southern United States.

August 2021: Control Chemical Corp., a producer of environmentally safe drilling fluids and lubricants based on vegetable oils, will be acquired by Richardson International Ltd., a large canola oil producer based in Winnipeg, Canada. Control Chemical Corp. receives crude canola oil from Richardson International Ltd.; this acquisition will open doors and assist Control Chemical Corp. in expanding its market reach for downhole and torque-reducing lubricants that are safe for the environment.

Canola Oil Category Outlook

• Organic


• Conventional

Canola Oil Packaging Type Outlook

• Bottles


• Cans


• Others

Canola Oil Distribution Channel Outlook

• Store-Based


• Non-Store-Based

Canola Oil Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  

• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  

• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  

• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America