Rapeseed Market Size

Rapeseed Market Analysis

The global rapeseed market is projected to register a CAGR of 3.3% during the forecast period (2021-2026). As an impact of COVID-19 consumers have turned to consume more healthy products. The food & beverage and foodservice companies are fetching rapesseds seeds 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.