The Canola Oil Market is being driven by Increasing awareness of health benefits of canola oil among consumers
The Canola Oil Market is expected to grow at a CAGR of 3.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 6906 million. Canola oil serves as an alternative plasticizer in the rubber industry, providing advantages as an eco-friendly alternative to traditional petroleum-based options. Plasticizers are essential additives that improve polymer properties and processing characteristics, reducing viscosity and glass transition temperatures. Canola oil's high boiling point allows it to effectively enhance rubber compounds, enabling proper mixing and processing. As a sustainable and renewable resource, canola oil's adoption as a plasticizer contributes to the industry's environmental sustainability efforts.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
218 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.3% |
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Market growth 2025-2029 |
USD 6906 million |
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Market structure |
fragmentation |
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YoY growth 2024-2025(%) |
3.2 |
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Key countries |
China, US, Germany, UK, Japan, France, Canada, India, South Korea, Russia, US, Canada, China, India, and Russia |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Canola Oil Market encompasses various processes in canola seed transformation, including canola seed processing for canola meal production and canola oil extraction. Canola oil undergoes derivatives like hydrogenation, interesterification, fractionation, winterization, degumming, deodorization, and bleaching for improved stability and viscosity. Canola meal generates valuable byproducts, while biotechnology advances enhance oil production and quality.
The global canola oil market encompasses businesses engaged in the production, refining, extraction, processing, and filtration of canola oil. The market's size is determined by the consolidated revenue generated by these entities. This market segment excludes manufacturers of food processing equipment and producers of packaged alcoholic and non-alcoholic beverages, excluding mineral waters. The expansion of the global canola oil market will be fueled by the health benefits linked to the consumption of minimally processed foods, such as canola oil, which are rich in essential nutrients like potassium, dietary fiber, folate, vitamin A, and vitamin C.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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