The Europe Canola Oil Market would witness market growth of 3.4% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 6,663.8 Kilo Tonnes, showcasing a growth of 2.7% (2019-2022).
Continuous research and development efforts have created canola varieties with improved yield, disease resistance, and oil quality. These advancements contribute to higher production and more consistent product quality. Biotechnology plays a significant role in the canola oil market. Genetic modification has allowed for the development of traits like herbicide resistance, enabling farmers to control weeds more effectively. This technology is subject to rigorous safety and regulatory assessments. Sustainability in canola farming is achieved through practices like reduced tillage, which conserves soil and reduces greenhouse gas emissions. Crop rotation and precision agriculture are employed to optimize resource utilization and mitigate environmental consequences.
Innovation extends to the creation of value-added canola oil products. These include canola oil blends with other high-oleic oils for enhanced functionality and stability, making them ideal for specific applications in the food industry. Efforts to reduce waste and make the canola oil production process more efficient are ongoing. This involves identifying novel applications for byproducts, such as canola meal, which can serve as animal feed or a protein source for human consumption. Innovations in traceability and quality assurance technologies are helping the industry maintain high standards.
Europe is known for its culinary diversity, with each country offering a wide range of traditional and international cuisines. This diversity attracts a diverse group of diners, both locals and tourists, contributing to the growth of the food service sector. As per the report titled Food Service - Hotel Restaurant Institutional, released by the United States Department of Agriculture, in 2021, the food and drink manufacturing sector’s output were valued at $34 billion, with an annual turnover of $127 billion. Restaurants and eateries that showcase British and international cuisines benefit from the interaction between tourism and culinary exploration.
The Germany region dominated the Europe Canola oil Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $2.5 Billion by 2030. The UK region is exhibiting a CAGR of 2.5% during (2023 - 2030). Additionally, The France region would experience a CAGR of 4.2% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Canola oil Market will Hit $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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