The Asia Pacific Canola Oil Market would witness market growth of 4.2% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 14,659.7 Kilo Tonnes, showcasing a growth of 2.9% (2019-2022).
Canola oil is obtained by pressing the seeds of the canola plant (a variety of rapeseed), which has become a kitchen staple. It is renowned for its versatility, neutral flavor, and numerous health benefits. The market has experienced significant growth and transformation, driven by consumer preference shifts, agricultural practice advancements, and innovative technologies. The adoption of canola oil as a cooking and dietary essential has been nothing short of remarkable. It emerged as a relatively obscure oil in the late 20th century and has gained widespread acceptance and recognition.
Increasing consumer awareness of health and nutrition has been instrumental in propelling the adoption of canola oil. It is known for its heart-healthy properties because it is low in saturated fats and rich in monounsaturated and polyunsaturated fats, especially omega-3 and omega-6 fatty acids. These attributes make it an attractive choice for those seeking to reduce their risk of heart disease and manage cholesterol levels. Canola oil's versatility is another reason for its widespread adoption. Its mild, neutral flavor and high smoke point make it ideal for various culinary applications, from frying and sautéing to baking and salad dressings.
As more people move to cities in the Asia Pacific, their lifestyles and dietary preferences change. This urbanization increases demand for processed and convenience foods as people seek ready-to-eat and time-saving meal options. As incomes rise, consumers in the Asia Pacific region are diversifying their diets and increasingly adopting Western dietary patterns. As per the data from the State Council of the Government of China, the food industry experienced consistent growth in production and sales during the first half of the year. The retail sales of grain, oil, and food reached 903.18 billion yuan in the first half of 2022. The growth of the food processing industry in countries like China and India will likely boost the expansion of the market in the Asia Pacific region.
The China region dominated the Asia Pacific Canola Oil Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $5.3 Billion by 2030. The Japan region is registering a CAGR of 3.4% during (2023 - 2030). Additionally, The India region would showcase a CAGR of 4.8% during (2023 - 2030).
Based on Nature, the market is segmented into Conventional, and Organic. Based on Application, the market is segmented into Food Processing, Food Service, Households, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Canola oil Market is Predict to reach $43.3 Billion by 2030, at a CAGR of 3.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Louis Dreyfus Company B.V., Cargill, Incorporated, Associated British Foods PLC, Archer Daniels Midland Company, Wilmar International Limited, Bunge Limited, Jivo Wellness Pvt. Ltd., American Vegetable Oils, Inc., Richardson International Limited and La Tourangelle, Inc.
By Nature Volume, Kilo Tonnes, USD Million, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Million, 2019-2030)
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