HEAR (HIGH ERUCIC ACID RAPESEED) MARKET REPORT OVERVIEW
The global HEAR (high erucic acid rapeseed) market size was USD 87.49 million in 2023 and the market is projected to touch USD 163.57 million by 2032, exhibiting a CAGR of 7.20% during the forecast period.
Erucic acid is a monounsaturated omega-9 fatty acid commonly known as cis-13-docosanol acid. High erucic acid rapeseed is commonly found in oil extracted from rapeseed. Rapeseed is selected particularly for its high erucic content. Canola oil is a vegetable oil derived from rapeseed oil. If rapeseed contains more than 50% of erucic acid it is utilized as a key element for personal care products, plastics, and pharmaceuticals. Erucic acid is widely used in fish diets and foods. Mustard oil and some marine animal oils also contain erucic acid.
COVID-19 Impact: Market Growth Increased as the Exploration of Biofuels Increased
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
The issues in standard fuel distribution networks combined with the expanding significance of sustainable vitality sources have energized examinations into elective fuels. This has driven a closer assessment of high erucic corrosive rapeseed oil as a potential and maintainable crude material for biodiesel creation. The expanded spotlight on biofuels is impelled by the longing to reduce the dependency on fossil fuels.
LATEST TRENDS
Ongoing Research and Development Contributing to Market Growth
Advancements and ongoing research in biotechnology improve the avenue for high erucic acid rapeseed. Researchers are continuously exploring various ways to advance new variations of high erucic acid rapeseed that boast improved yield and possess other desirable behaviors. New technologies are helping improve high erucic acid rapeseed. Scientists can enhance how well the plants grow and what they produce. This is continuing to change high erucic acid rapeseed into a stronger, more useful crop over time. As research with biotech expands, it may help farms in new ways. Studying biotech cloud helps high erucic acid rapeseed reach more buyers.
HEAR (HIGH ERUCIC ACID RAPESEED) MARKET SEGMENTATION
By Type
Based on type the market can be categorized into erucic acid 43% to 50% and erucic acid above 50%.
- Erucic Acid 43% to 50%: Rapeseed oils containing 43% to 50% of erucic acid are used in industrial applications, such as plastics, lubricants, and cosmetics.
- Erucic Acid above 50%: High levels of erucic acid that is above 50% are used in a variety of applications, such as they are used in various chemicals. Erucic acid above 50% has the potential for biodiesel production.
By Application
Based on application the market can be categorized into high-temperature lubricants, plastic, printing ink, personal care, and others.
- High-Temperature Lubricants: High erucic acid is generally known for its lubrication and viscosity properties as they are appropriate for use in high-temperature lubricants, making these lubricants ideal for industrial applications such as gears, engines, and bearings that work at extreme temperatures.
- Plastic: High erucic acid is used to produce specific types of plastics that enhance their properties such as strength and flexibility. These properties contribute to enhancing performance and quality. This makes them suitable for applications like food packaging films, water bottles, and automotive parts that are required in the manufacturing process
- Printing Ink: High erucic acid is used in formulations of printing ink. These inks can dry fast, it has enhanced color vibrancy which further contributes to sharper prints on newspapers, magazines, and packaging materials. This ensures performance and quality making it suitable for the printing industry.
- Personal Care: High erucic acid oil is highly used in creams, lotions, and other personal care products as a desirable ingredient. HEAR has slip and emollient properties that give these products a smooth, non-greasy feel on the skin. It can also be incorporated into formulations for skincare products and cosmetics or even hair care items.
- Others: The others category includes the diverse potential of HEAR applications which includes the production of biofuels and novel surfactants that are used in industrial and cleaning applications.
DRIVING FACTORS
Increased Demand for Biodegradable Solutions in Diverse Industries Blostering Market Growth
The improved focus on the use of biodegradable additives in emollient polymers, and the metal working industry applications have emerged as the foremost drivers for the erucic acid market. This emphasis on environmental awareness has promoted industries to actively seek biodegradable alternatives. High erucic acid derived from rapeseed stands out for its skin-softening and moisturizing properties which aids erucic acid as a key component in personal care products. Additionally, polymer manufacturing is witnessing a hike in demand for biodegradable polymers as a result, high erucic acid rapeseed can be utilized in biodegradable plastics and polymers.
Furthermore, the use of erucic acid in metalworking production especially in the compilation of high-temperature lubricants with the integration of biodegradable components in lubricants decreases environmental impact. This integration of biodegradable additives in diverse industries is boosting the high erucic acid rapeseed market growth, by effectively meeting sustainability goals and addressing increased demand for eco-friendly products.
Textile Industry’s Lubrication Evolution Propelling Market Growth
High erucic acid rapeseed plays a vital role in the material industry, mainly in the lubricants segments. Erucic acid is derived from rapeseed it serves as an effective lubricant in several textile processes, such as carding and combing wool. Its unique properties make it an ideal choice for enhancing the smoothness and efficiency of these manufacturing processes. In the textile industry, the demand for erucic acid plays a driving factor that propels high erucic acid rapeseed market growth. As textile production seeks reliable and efficient solutions for lubrications this versatile application contributes to the overall market expansion.
RESTRAINING FACTOR
Excessive Consumption Leading Towards Health Issues Hindering the Market Growth
If erucic acid is consumed in excessive amounts it leads to potential health issues, particularly heart-related issues. As a result, regulatory authorities have applied strict regulations that order tolerable levels of erucic acid in food products. This heightened regulatory environment significantly weakens the market scope for high erucic acid rapeseed, mainly within the edible oil industry where erucic acid is a crucial component. This limitation generates challenges for manufacturers and limits the utilization and acceptance of high erucic acid rapeseed in the food industry, as consumers prioritize health and safety in their dietary choices. Addressing these challenges is crucial to overcome the potential of high erucic acid rapeseed in multiple applications, especially in the edible oil segment.
HEAR (HIGH ERUCIC ACID RAPESEED) MARKET REGIONAL INSIGHTS
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.
Asia-Pacific to Dominate the Market Due to Advanced Farming Practices
Asia-Pacific dominates the HEAR high erucic acid rapeseed market share as this region has advanced farming practices that contribute to the efficient cultivation of HEAR. The region has witnessed a growing demand for high erucic acid rapeseed with its unique applications including in industrial applications, lubricants, and biofuels. The region’s favorable climate environments and agronomic proficiency create an environment conducive to high-quality HEAR production.
INDUSTRY PLAYERS
Key Industry Players Shaping the Market Through Extensive Global Reach
Key industry players are essential in shaping the HEAR (high erucic acid rapeseed), driving various changes through a dual strategy of continuous innovations and global presence. By consistently presenting inventive solutions and staying in the lead of technological progress, these key players redefine the industry standards. Similarly, their extensive global lead empowers actual market penetration, addressing diverse needs across borders. The seamless blend of innovations and a strategic international footprint positions these players are not only market leaders but also as architects of transformative shifts within the dynamic domain of HEAR (high erucic acid rapeseed).
List of Market Players Profiled
- Bunge North America (U.S.)
- Perdue Agribusiness (U.S.)
- NatureScrops (Canada)
- Vantage Performance Materials (Chicago)
- Premium crops (England)
INDUSTRIAL DEVELOPMENT
February 20, 2024: As the production of rapeseed grows, the country can optimize its domestic supply, offering a more cost-effective alternative to importing other vegetable oil. This shift helps secure a stable and affordable source of vegetable oil and even contributes to the nation’s economic efficiency. Therefore, this reduces the dependency on costly imports of palm oil, soya oil, and sunflower oil has increased the rapeseed benefits.
REPORT COVERAGE
his report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global high erucic acid rapeseed from multiple angles, which also provides sufficient support to readers’ strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose applications may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.
This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies, and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.
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