Latin America Canola Oil Market

Latin America Canola Oil Market Size (2024 to 2029)

As per our analysis report, the Latin America Canola Oil Market is expected to reach USD 3.89 billion by 2029 from USD 2.79 billion in 2024, growing at a compound annual growth rate (CAGR) of 6.91% during the forecast period.

MARKET OVERVIEW

Canola Oil is a vegetable oil extracted from rapeseed, which is low in euric acid. Canola oil is used for both industrial purposes and cooking purposes. It is used as biodiesel for industrial purposes. It offers many health benefits like rich sources of omega 3 and omega 6 fatty acids that are good for heart. It is the third-largest oil crop in the world. It also helps in lowering the levels of bad cholesterol due to its high content of oleic acid. Primary factors accounted for driving the market are increasing risk factors for cardiovascular diseases and increasing population of individuals affected with cardiovascular diseases, shifting consumer focus and preference towards healthy diet and low-fat oils, and increasing awareness regarding the health benefits of canola oil. On the other hand, the expensive price of canola oil compared to other edible oils is the factor hindering the growth of the market.

This research report on the Latin America Canola Oil market has been segmented and sub-segmented into the following categories.

Latin America Canola Oil Market By Application

• Cooking purposes
• Industrial use

Based on Application, Cooking purpose holds the major share in the market due to its higher smoke point than many other edible oil and its use in multiple cuisines. Industrial Use segment is the fastest growing one based on the application due to the increasing use of canola oil as biofuel and uses in cosmetics.

Latin America Canola Oil Market By End-User

• Foodservice sector      
• Manufacturing sector         
• Retail sector  

Latin America Canola Oil Market By Country

• Brazil
• Argentina
• Mexico
• Rest of Latin America

Brazil holds the major share in the market due to the presence of market leaders as well as the extensive use of canola oil for cooking purposes. Argentina is the fastest-growing region due to increasing disposable income, growing awareness, and increasing adoption rate.

KEY MARKET PLAYERS

Archer Daniel Midland Company, Associated British Foods, Burge, Cargill, Wilmar International, Conagra Foodservice, DalmiaShop, Huiles TITAN OILS, Jivo Wellness, Richardson International are some of the notable companies in the Latin America Canola Oil market.