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Canola oil market Share 2021-2026: Global Industry Price Trends, Size, Growth, Opportunity and Forecast

SHERIDAN, WYOMING, UNITED STATES, October 20, 2021 /EINPresswire.com/ -- According to the latest report by IMARC Group titled, “Canola Oil Market Share: Global Industry Price Trends, Size, Growth, Opportunity and Forecast 2021-2026”, the market reached a volume of 27.3 Million Tons in 2020. Looking forward, IMARC Group expects the market to reach a volume of 29.6 Million Tons by 2026.

Some of the top manufacturers/ Key players in Canola oil market Include: Archer-Daniels-Midland Company (ADM), Bunge Limited Bunge Limited (BG) Cargill Inc.and James Richardson International, Louis Dreyfus Company etc.

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Canola oil is a vegetable oil that is extracted from the bright yellow flowers of rapeseed, belonging to the Brassicaceae family. Characterized by a light texture and neutral taste, it is widely preferred for frying, grilling, sautéing and baking a variety of dishes. It has exceptional nutritional value as it is rich in vitamin E and K, monosaturated fats, and omega-3 and omega-6 fatty acids. Its consumption is widely associated with boosting metabolism, improving skin texture, maintaining blood pressure, balancing cholesterol levels, and reducing the chances of stroke and heart attack. Consequently, canola oil is rapidly replacing conventionally used oils for cooking purposes across households as well as commercial spaces, such as cafes, hotels and restaurants.  

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Growing awareness regarding the increasing prevalence of cardiovascular disorders (CVDs), coupled with the numerous health benefits of canola oil, has primarily influenced the growth of the market. In line with this, hectic working schedules and increasing consumer expenditure capacity have led to the popularity of the dining-out trend. Numerous restaurants and food joints are now utilizing healthy oils such as canola oil in their food to cater to the health-conscious consumers, thereby creating a positive outlook for the market. Furthermore, on account of the versatile properties of canola oil, it is now being used across numerous industries for a wide array of applications. It is employed in the manufacturing of plasticizers, skincare products as well as in the production of biodiesel. Significant growth in the end use industries is expected to provide a further stimulus to the market growth.

Performance by Applications
    Cooking        
    Processed Foods        
    Lubricants        
    Personnel Care        
    Biofuels        
    Others

Based on application, the market is segregated into cooking, processed foods, lubricants, personnel care, biofuels and others. Currently, cooking and processed foods account for the majority of the global market as it is excessively used for culinary purposes.        

Breakup by Packaging
    Cans        
    Drums        
    Bottles        
    Pouches       
    Others

On the basis of packaging, canola oil is widely available in cans, drums, bottles, pouches and others. Amongst these, drums represent the most popular packaging type, holding the largest market share.
       

Key highlights of the report:
    Market Performance
    Market Outlook
    Porter’s Five Forces Analysis
    Market Drivers and Success Factors
    SWOT Analysis
    Value Chain
    Competitive Structure 
    Profiles of Key Players

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About Us                                                                      

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
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