Rapeseed Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.85 Billion |
| Market Size (2029) | USD 2.40 Billion |
| CAGR (2024 - 2029) | 5.33 % |
| Fastest Growing Market | South America |
| Largest Market | North America |
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Rapeseed Market Analysis
The Rapeseed Market size is estimated at USD 1.85 billion in 2024, and is expected to reach USD 2.40 billion by 2029, growing at a CAGR of 5.33% during the forecast period (2024-2029).
The food & beverage and food service companies are fetching rapeseed at a higher price from the producers, as the demand for these products surged in recent times. However, the short supply due to high demand and supply disruptions has created a demand-supply mismatch that led to the distortion in the price of the product. Rapeseed crushing has risen strongly, Europe being the major player in this expansion owing to the development of biodiesel. Rapeseed meal is the second major oilseed meal produced in the region after soybean meal. North America and Europe are the largest consumers of rapeseed in the world, accounting for more than 50.0% of global consumption. Developing markets such as India have witnessed high growth among the top rapeseed-consuming countries during the forecast period. The market is driven by changing consumer food habits, cumulative health consciousness, and taste preferences. The rapeseed oil market is foreseeable to witness a significant development during the forecast period owing to the altering consumer usage of vegetable oils, which will further boost the market.
Rapeseed Market Trends
Changing Consumer Preferences Towards Opting Healthy Substitutes and Veganism Engulfs
The popularity of rapeseed as an ingredient has increased significantly over the years with a variety of product launches; as consumers are more inclined toward natural and wholesome ingredients. These products have superior nutritional value as they are rich sources of polyphenols, antioxidants, vitamins, and minerals. The market is driven by consumer preference toward functional and health-based naturally derived products. The market has also seen a rise in the retail consumption of the product. These seeds are readily available in grocery stores because they are highly demanded worldwide. They contain a good amount of calcium, magnesium, and potassium, and are believed to boost energy, stabilize blood sugar, and help with digestion. Apart from the food industry, rapeseed oil has a major application in personal care products such as oils, creams, and lotions. Vitamin E and antioxidants in cosmetic products help in reducing scar tissues, repair damaged hair, and repair skin conditions such as itching, eczema, and acne, promoting healthy skin. Rapeseed oil is also used as a carrier oil that is used topically. The change in consumer preferences owing to health reasons & veganism has led to wider accessibility of these products in supermarkets, which in turn, has bolstered the overall market across the world. Hence, the diverse application of rapeseed across many industries is expected to drive the market during the forecast period.
North America Holds A Major Share In The Market
North America's dominance in the rape seed market is attributed to various factors. The Prairie Provinces in Canada, specifically Alberta, Saskatchewan, and Manitoba, offer the perfect climate and soil conditions for rapeseed cultivation, with long summer days and cool temperatures that improve both yield and quality. Investments in agricultural research have led to the development of robust, disease-resistant rapeseed varieties, and North America is a leader in biotechnology, especially in the area of genetically modified (GM) canola, enhancing crop durability and production. For instance, in 2022, Syngenta Seeds (Canada) partnered with CANTERRA SEEDS company to share the Pelta technology and develop high-yielding canola hybrids.
Advanced farming equipment, precision agriculture techniques, and efficient management practices, like Integrated Pest Management (IPM), boost productivity and reduce losses. Both the U.S. and Canadian governments back the industry with subsidies, research grants, and infrastructure enhancements. Trade agreements, such as the USMCA, facilitate export growth. The strong demand for canola oil, valued for its health benefits and versatility in cooking, drives market growth. An extensive transportation and export network ensures broad distribution.
Rapeseed Market News
July 2023: Pacific Seeds, a subsidiary of Advanta Seeds, has recently launched two new canola hybrid varieties in the Australian market. The new varieties, Hyola Defender CT and Hayola Continuum CL, are known for their high-yield performance, strong disease resistance, increased oil content, and improved weed control flexibility.
March 2023: Corteva Agriscience, Chevron U.S.A. Inc., and Bunge have come together for a commercial collaboration to develop winter canola hybrids that produce plant-based oil with a lower carbon profile.
Rapeseed Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Supply Chain Analysis
5. MARKET SEGMENTATION
5.1 Geography (Production Analysis, Consumption Analysis by Value & Volume, Import Analysis by Value & Volume, Export Analysis by Value & Volume and Price Trend Analysis)
5.1.1 North America
5.1.1.1 United States
5.1.1.2 Canada
5.1.1.3 Mexico
5.1.2 Europe
5.1.2.1 Germany
5.1.2.2 France
5.1.2.3 Italy
5.1.2.4 Russia
5.1.2.5 United Kingdom
5.1.2.6 Spain
5.1.3 Asia Pacific
5.1.3.1 China
5.1.3.2 India
5.1.3.3 Japan
5.1.3.4 Australia
5.1.4 South America
5.1.4.1 Argentina
5.1.4.2 Brazil
5.1.5 Middle East and Africa
5.1.5.1 United Arab Emirates
5.1.5.2 South Africa
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
Rapeseed Industry Segmentation
Rapeseed is an oilseed belonging to the Brassicaceae family. It is one of the largest used oilseeds for oil extraction which is later used for cooking and its meal for animal feed. The Global Rapeseed Market is Segmented by Geography (North America, Europe, Asia-Pacific, and Middle-East and Africa). The study includes Production Analysis (Volume), Consumption Analysis (Value and Volume), Export Analysis (Value and Volume), Import Analysis (Value and Volume), and Price Trend Analysis.
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Rapeseed Market Research FAQs
How big is the Rapeseed Market?
The Rapeseed Market size is expected to reach USD 1.85 billion in 2024 and grow at a CAGR of 5.33% to reach USD 2.40 billion by 2029.
What is the current Rapeseed Market size?
In 2024, the Rapeseed Market size is expected to reach USD 1.85 billion.
Which is the fastest growing region in Rapeseed Market?
South America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Rapeseed Market?
In 2024, the North America accounts for the largest market share in Rapeseed Market.
What years does this Rapeseed Market cover, and what was the market size in 2023?
In 2023, the Rapeseed Market size was estimated at USD 1.75 billion. The report covers the Rapeseed Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Rapeseed Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Rapeseed Industry Report
Statistics for the 2024 Rapeseed market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Rapeseed analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
