Rapa or oilseed plant is Rapeseed oil or Canola oil producing plant variety that comes under Brassica family. The oil is obtained from the plant and the left over after extracting oil is used for various purposes. The oil is used to prepare bio-fuel, as an edible oil and the left over is used as fertilizer and animal feed.
The global Rapeseed market is segmented by end-use as rapeseed oil for bio-fuel, rapeseed oil for cooking purpose, rapeseed plant leftover for fertilizer, rapeseed plant leftover for animal feed and others. Others category includes ink manufacturing for printing etc. The market is also based on application as household uses, agricultural uses and industrial uses. Geographically, market can be segmented into North America, Europe, Asia Pacific and Rest of the World.
The key drivers of this market greater usage of rapeseed oil in cooking by middle class population in developed markets. Moreover the rising feed cost triggered the rapeseed cultivators to integrate their process to cater different segments in the market such as household consumers and feed. Some of the restraining factors could be high production cost and licensing for manufacturers. Moreover government regulations on labeling and selling of the oil limits the growth in this market.
The Rapeseed oil market globally is expected to grow with a substantial single digit CAGR over the period of 2013- 2019. Earlier it was used as lubricant or for lighting purpose, but in last 40 years the use of Rapeseed oil has come into mainstream cooking. It is a good source of unsaturated fatty acid, vitamin E and Omega3.
Some of the key players in Rapeseed oil Market are Hunan Vchen Oil and Fats Industry Co., Ltd, Sunora Foods, Archer Daniels Midland Company, K S Oils among others.
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