North American rapeseed oil market is anticipated to grow at a CAGR of 6.5% during the forecast period. Increasing consumer purchasing power, rising health-conscious population and changing eating patterns due to obesity have given rise to the consumption of rapeseed oil in North America. In North America, the major utilization of rapeseed oil is for food applications, with a trivial share going into bio feed and industrial use. However, biodiesel production to reduce greenhouse gas emissions is becoming a priority for the US and is assesses as a significant market for rapeseed oil in the country. Further, with a hefty share of the production of rapeseed oil exported, the industry provides jobs and economic growth to communities across the region because of international market opportunities.
According to USDA FAS, the production of rapeseed decreased by five percent in 2018/19 marketing year, however, the total supplies remain unaffected due to high ending stocks the preceding year. The report predicted an increase in the rapeseed area planted in 2020/21, despite an uncertain global oilseed market and agronomic concerns associated with the spread of clubroot, which would give the rapeseed oil a minute growth rate in the region. The increase in the production of rapeseed oil is also supported by the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) trade agreement, bringing down tariff rates in key markets, such as Vietnam and Japan.
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Market Coverage
- Market number available for – 2023-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
North American Rapeseed Oil Market by End-User
- Food Processing
- Cosmetic and Personal Care Products
- Biofuel
- Other
Regional Analysis
- The United States
- Canada
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Company Profiles
- Archer Daniels Midland Co.
- Borges National USA Corp.
- Bunge North America, Inc.
- Cargill, Inc.
- ConAgra Brands, Inc.
- Louis Dreyfus Company Cotton, LLC
- Richardson International, Ltd.
- Saporito Foods, Inc.
- Sunora Foods, Inc.
- Viterra, Inc.
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