Latest News- Canola Oil Market: Conventional is expected to lead the Type segment during 2024-2028

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 3.04% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 5.54 billion. Canola oil serves as a functional ingredient in the production of plasticizers, which are essential additives for enhancing the properties and processing characteristics of polymers in the rubber industry. These additives, with high boiling points, increase the polymer's volume, thereby reducing its viscosity and glass transition temperature. Canola oil, as a green alternative to traditional petroleum-based plasticizers, is gaining traction due to its potential to influence the physical and chemical attributes of rubber compounds favorably. This versatile oil's adoption in plasticizer applications is crucial, as it significantly impacts the compound's end-use performance. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Conventional
  • Organic
• Application
  • Cooking
  • Industrial
  • Biofuel
• Distribution Channel
  • Supermarkets/Hypermarkets
  • Online Retail
  • Direct Sales
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • US
  • South America
    • Brazil
    • Argentina
  • Middle East and Africa
    • Egypt

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing awareness of health benefits of canola oil among consumers
• Multiple applications of canola oil
• Increasing emphasis on environmental-friendly and sustainable product packaging

However, the market also witnesses some limitations, which are as follows:

• Increasing demand for and popularity of substitute products
• Challenges faced by canola oil vendors in meeting retailer expectations
• Limitations associated with genetically modified canola seeds

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Market Scope in Canola Oil Market Research Report

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Research Analysis Overview

The Canola Oil industry encompasses various segments including Canola Oil Blends and Specialty Canola Oils, Canola Oil Derivatives such as Canola Meal and Canola Lecithin, and Biodiesel Production for Renewable Energy. Oilseed Crushers and Processors utilize Extraction and Refining Technologies to produce Canola Oil. Industry advancements include Oilseed Breeding, Crop Rotation, Pest Management, Water Conservation, and Land Use practices. Sustainability, Carbon Footprint, and Food Security are key concerns, along with Economic Impact, Trade Barriers, Government Policies, and Consumer Education. Health Claims, Food Labeling, Allergy Information, Shelf Life, Storage Conditions, Packaging Innovation, Sustainability Reporting, and Corporate Social Responsibility are essential for consumer trust. Market Intelligence, Data Analytics, Trend Analysis, Market Research Firms, Industry Associations, Research & Development, and Investment Opportunities drive industry growth.

Market Research Overview

The global canola oil market is a significant segment of the larger packaged foods and meats market, which falls under the food products sector of the food, beverage, and tobacco industry. This market encompasses businesses engaged in food processing to enhance food safety and extend product shelf life. Technavio's market analysis calculates the market size based on the consolidated revenue generated by the participating vendors. It's important to note that this market excludes manufacturers of food processing equipment and packaged beverages, including alcoholic and non-alcoholic varieties.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/