Market Trends of Rapeseed Industry
This section covers the major market trends shaping the Rapeseed Market according to our research experts:
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 have a high demand around the world. 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 the personal care products such as oils, creams, and lotions. The presence of Vitamin E and antioxidants in cosmetic products helps in reducing scar tissues, repairs damaged hair, repairs skin conditions such as itching, eczema, and acne thereby 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 engulfs 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.
Europe Holds A Major Share In The Market
Europe holds a major share of the rapeseed global market. France, Germany, and the United Kingdom account for more than 80.0% of Europe's rapeseed production. Higher oil content of 40.0% than compared to other major oilseeds renders higher benefits to oilseed farmers. Rapeseed is mainly grown for oil and meal in Europe. Growing awareness related to nutritional benefits of rapeseed is encouraging higher demand globally which will continue to drive consumption over the forecast period in Europe. Increasing competition from animal fats and recycled vegetable oils as feedstocks for biofuels and stagnant to declining biofuels production adds to increasing pressure on the rapeseed oil market.