Australia Rapeseed Oil Market Research Report, 2028

The rapeseed oil market in Australia has been steadily growing in recent years, reflecting the increasing consumer demand for healthier cooking oils and the versatility of rapeseed oil in various culinary applications. Rapeseed oil, known for its low saturated fat content and high levels of heart-healthy monounsaturated and polyunsaturated fats, has gained popularity as a cooking oil choice among health-conscious consumers. Additionally, rapeseed oil's neutral flavor and high smoke point make it suitable for a wide range of cooking methods, from frying to baking. Australian farmers have also recognized the potential of rapeseed as a cash crop, leading to an expansion in its cultivation. This has resulted in a boost to the domestic production of rapeseed oil, reducing the country's reliance on imports. Furthermore, the government's support for sustainable agricultural practices has encouraged the adoption of environmentally friendly methods in rapeseed cultivation, aligning with global trends towards responsible and eco-friendly farming According to the research report "Australia Rapeseed Oil Market Research Report, 2023-28," published by Actual Market Research, is predicted to expand significantly during the course of the forecast year 2023-2028. Rapeseed oil, commonly known as canola oil in Australia, holds a significant presence in the country's edible oil market. The Australian canola oil market is characterized by a competitive landscape, with several domestic and international brands offering a range of canola oil products to meet consumer preferences. In Australia, the production of rapeseed oil is primarily concentrated in several regions across the country. One of the key regions for rapeseed oil production is the eastern states, particularly New South Wales, Victoria, and Queensland. These states have favorable climatic conditions and fertile agricultural land, making them ideal for canola cultivation. New South Wales, in particular, has a significant share of canola production in Australia. The southern and central regions of the state, including areas like the Riverine and the Central West, are known for their large-scale canola cultivation. Australia imports rapeseed oil from various nations to meet its domestic demand and support its food processing industry. Some of the major countries from which Australia imports rapeseed oil include Canada, the United States, Germany, France, and the Netherlands. These countries are known for their significant production of rapeseed and canola oil and often supply Australia with rapeseed oil to supplement its domestic production. On the export side, Australia primarily exports rapeseed oil to neighboring countries in the Asia-Pacific region. Key export destinations for Australian rapeseed oil include New Zealand, Japan, South Korea, and other Southeast Asian nations. Australian rapeseed oil has found a growing market internationally due to its quality and purity. Export opportunities to neighboring countries in the Asia-Pacific region have increased, leading to higher production and export volumes. These exports contribute positively to the Australian economy. The rapeseed oil industry in Australia has witnessed product innovation, with manufacturers producing a range of value-added rapeseed oil products, such as specialty cooking oils, flavored variants, and health-focused blends. These innovations cater to diverse consumer preferences and contribute to market growth.

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According to the report, the market is been segmented on the basis of Nature of Rapeseed oil; Conventional and Organic. In Australia, conventional rapeseed oil currently holds the largest market share, and this dominance can be attributed to several key factors. Firstly, conventional rapeseed oil has a well-established presence in the market, with a history of consistent production and distribution. Consumers have long been familiar with this type of rapeseed oil, and it is readily available at various price points, making it a preferred choice for many. Additionally, the conventional rapeseed oil market benefits from economies of scale and efficient production processes, allowing it to offer competitive pricing. The widespread use of conventional rapeseed oil in various food processing industries and the foodservice sector has also contributed to its market dominance. However, looking ahead to the period from 2023 to 2028, there is a growing expectation that the organic type of rapeseed oil will experience significant growth and boost its market presence. Several factors are expected to drive this trend. Firstly, consumers are increasingly concerned about health and environmental sustainability, leading to a heightened interest in organic and natural products. Organic rapeseed oil, produced without synthetic pesticides and fertilizers, aligns with these consumer preferences for healthier and more environmentally friendly options. Moreover, Australia's well-established organic farming sector is poised to contribute to the growth of organic rapeseed oil. As more farmers transition to organic farming practices and expand their organic canola cultivation, the supply of organic rapeseed oil is expected to increase. Furthermore, the global demand for organic food products is on the rise, and this includes organic cooking oils. Australia's reputation for producing high-quality canola, combined with its commitment to organic farming practices, positions it well to capture a share of the growing international organic rapeseed oil market. On the basis of End-Users of rapeseed oils, the report has been categorized into three end -users type; Households, Industrial, and Food Service. In Australia, the use of rapeseed oil predominantly occurs in households, making it the largest market segment within the Australia rapeseed oil market. Rapeseed oil is a popular choice among Australia consumers for a variety of culinary purposes, including frying, sautéing, baking, and salad dressings. Its mild flavor, high smoke point, and heart-healthy profile make it preferred cooking oil for many Australia households. Following the household segment, the industrial sector is the next significant market for rapeseed oil in Australia. Industrial applications include the use of rapeseed oil in the production of biodiesel, as an ingredient in cosmetics, and in various non-food applications such as lubricants and bio-based plastics. The versatility and eco-friendly characteristics of rapeseed oil contribute to its appeal in industrial settings. The food services sector represents another important market segment for rapeseed oil in Australia. Restaurants, catering services, and food manufacturers use rapeseed oil extensively due to its desirable cooking properties. Its ability to withstand high temperatures without breaking down or imparting unwanted flavors to food makes it a popular choice in professional kitchens. In the Australia rapeseed oil market, segmentation by distribution channels is a key factor influencing the market. Currently, conventional stores, including local grocery shops and specialty stores, hold the largest market share. These traditional retail outlets have been the go-to source for consumers seeking rapeseed oil for their household cooking needs. However, following conventional stores, hypermarkets and supermarkets have emerged as significant players in the distribution of rapeseed oil. Their expansive reach, diverse product offerings, and competitive pricing have made them popular destinations for consumers looking for a wide range of cooking oil options. Direct sales, which often involve farmers' markets and farm-to-table initiatives, also contribute to the market, particularly for consumers seeking direct sourcing options and organic varieties of rapeseed oil. Looking ahead to the years 2023-2028, online sales are expected to show the highest CAGR within the Australia rapeseed oil market. This growth can be attributed to several factors. Firstly, the convenience of online shopping has become increasingly appealing to consumers, and this trend extends to the purchase of cooking oils. Online platforms offer a wide selection of rapeseed oil products, including conventional and organic options, making it easier for consumers to explore and choose the products that best suit their preferences. Additionally, the digital landscape provides a platform for brands to promote their products, educate consumers about the benefits of rapeseed oil, and cater to the rising demand for organic and specialty varieties. With consumers becoming more health-conscious and environmentally aware, online sales channels are well-positioned to meet these evolving consumer needs and preferences.

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Nikita Jabrela

Business Development Manager

The COVID-19 pandemic had a notable impact on the Australia rapeseed oil market, as it did on various sectors of the economy. Initially, the pandemic led to disruptions in supply chains and a degree of uncertainty in the agricultural and food processing industries. However, the overall impact on the rapeseed oil market can be described as a mix of challenges and opportunities. One of the immediate challenges faced by the Australia rapeseed oil market was related to logistical issues and labor shortages. Lockdowns, social distancing measures, and restrictions at processing facilities temporarily disrupted the smooth flow of canola seeds and oil production. This led to some disruptions in the supply chain, causing fluctuations in rapeseed oil availability and pricing. On the consumer side, there was a surge in demand for essential food items, including cooking oils, during the initial phases of the pandemic. This increased demand for rapeseed oil in households as people cooked more at home. However, the demand from the foodservice and restaurant sectors experienced a significant decline due to lockdowns and reduced dining out. Moreover, the pandemic underscored the importance of food security and the resilience of supply chains. As a result, there was an increased focus on supporting local producers and supply chain diversification. Considered in this report: • Geography: Australia • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report: • Australia Rapeseed Oil Market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

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By Nature: • Conventional • Organic By End User: • Household • Industrial • Food Service By Distributional Channel: • Conventional Store • Hypermarket/Supermarket • Direct Sales • Online • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Rapeseed Oil Market industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.