The rapeseed meal market is projected to show steady growth during the forecast period.
Rapeseed is an annual winter/spring crop that is part of the Brassica family. It is also called rape and oilseed rape and is related to cabbage, mustard, broccoli, turnip, and cauliflower. Rapeseed is similar to that of canola, due to it being from the same oilseed group of the Brassicaceae family, but that group can be divided into two types, which include industrial rapeseed and canola. At present, rapeseed, or industrial rapeseed, refers to any rapeseed that has a high content value (around 45%) of erucic acid in the oil, whereas canola is characterized by a low amount of erucic acid, which is less than 2%. The main products of rapeseed include rapeseed oil, which is used in cooking, lighting, and industrial uses, and rapeseed meal, which is widely used for feeding all classes of livestock. The other uses of rapeseed include industrial uses, such as lubricants, plastics, and hydraulic fluids. The oil that is produced from rapeseed for high heat stability in industrial machinery is called high-erucic-acid rapeseed (HEAR) oil, due to erucamide. Erucamide is one of the major players in the plastic film manufacturing industries and has been commonly used for the production of items like bread wrappers and garbage bags.
Introduction:
Rapeseed meal is also known as Canola meal in North America, Australia, and some other countries. Rapeseed meal is a by-product that is produced through the extraction of oil from rapeseed. It is known to be rich in protein and is widely used as feed for all types of livestock. Rapeseed meal production contains several processes to it, which include:
Market Drivers:
Increase in demand for animal feed: Rapeseed meal is a widely used material/ food for feeding livestock, due to its abundant source of protein. There has been an increase in demand for animal protein which includes livestock, dairy, and fish. The factor that increases the demand for animal protein is the growth of production, especially in developing regions. As per the International Feed Industry Federation, global feed manufacturing generates an estimated amount of US$400 billion every year, with the production of animal protein expected to increase by 1.7% every year from 2010 through 2050. As the demand and production of animal proteins are expected to grow, it will provide the necessary boost and contribute to the rapeseed meal market growth during the forecasted period.
Key Players:
Regional Analysis:
The European region is expected to witness significant growth in the rapeseed meal market during the forecasted period of 2024-2029. The factors that affect the growth in this region are the increasing production and imports of rapeseed in Europe. Oilseeds are commonly used for the production of oils for food or biofuel use and animal feed. As per the European Commission, the EU produces 30 million tonnes of oilseeds per year and is the traditional net importer as well. These oilseeds include rapeseed, sunflower seeds, soybeans, and linseed. As of 2023, the gross production of rapeseed amounted to 19,823,000 tonnes, when compared to 17,072,000 tonnes in 2021. Also, the import of rapeseed has accounted for 5,300,000 tonnes, which is an increase of 200,000 tonnes from the European Union alone. This increase in rapeseed production and import will contribute to the rapeseed meal market growth as well.
Market Developments:
Segmentation: