Global procurement intelligence advisory firm, SpendEdge, has announced the release of their 'Rapeseed Oil Market Procurement Research Report.' The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the agro commodities and raw materials industry. This report breaks down the data and analysis behind the procurement of rapeseed oil and acts as an all-inclusive guide for making smart purchasing decisions.
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Global Rapeseed Oil Procurement Market Intelligence Report (Graphic: Business Wire)
"The global demand for rapeseed oil is expected to increase over the forecast period owing to the rise in the consumer's transition toward consuming healthy oils that contain omega-3 and omega-6 fatty acids to maintain cardiac health," says SpendEdge procurement analyst A Kowshik. "Also, leading suppliers are increasingly investing in R&D and are adopting new technologies such as extraction technologies and adulteration detection processes to increase yield and retain the quality," added Kowshik.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Rapeseed Oil Market:
- Increasing popularity of high-oleic canola oil among F&B companies and for service operations
- Changes in demand-supply dynamics due to fluctuations in prices of vegetable oils
- Growing share of vegetable oil trade from developing economies
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Increasing popularity of high-oleic canola oil among F&B companies and for service operations:
The increasing popularity of the new-generation high-oleic acid canola oil can be attributed to several factors including its long shelf-life and its role in reducing rancidity. It is used as a primary ingredient in food processing and food service operations in developed markets. The increasing use of high-oleic canola oil helps buyers to save potential costs that arise due to the rancidity of canola oil. It also enables them to save on packaging costs due to the higher stability of high-oleic canola oil.
Changes in demand-supply dynamics due to fluctuations in prices of vegetable oils:
Several rapeseed cultivators and oil processors are focusing on strategizing their production and supply decisions based on the price fluctuations in vegetable oils in different markets. Additionally, emerging cultivators in China and India have increased the land provided for the cultivation of rapeseed. Also, due to the increase in the area allocated for rapeseed cultivation, the price of rapeseed is likely to come down, which will, in turn, reduce the cost of rapeseed oil.
Growing share of vegetable oil trade from developing economies:
There has been a slow transition in the global trade of major vegetable oils such as rapeseed oil, coconut oil, olive oil, palm oil, cottonseed oil, and peanut oil. Emerging countries such as China, India, Indonesia, Malaysia, Argentina, and Ukraine have increased their share of exports of vegetable oils. Moreover, the increase in oil production capacities of emerging economies is expected to reduce the unpredictability of vegetable oil prices.
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