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Rapeseed Oil Sales to Exceed US$ 37.7 Billion by 2033 as Demand for Virgin Oil for Healthy Skin Surge by 6%

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Rockville, Jan. 09, 2023 (GLOBE NEWSWIRE) — The rapeseed oil market analysis offered by Fact.MR scrutinizes key growth factors that are impacting sales over the forthcoming decade. The report offers in-depth insights covering vital factors such as drivers, opportunities, key player strategies, and sales outlook for the rapeseed oil market. In addition to this, the study analyzes latest trends across segments including product type, end user, distribution channel, and region for the forecast period (2023-2033).

Fact.MR – A Market Research and Competitive Intelligence Provider: The global rapeseed oil market size is estimated to be worth US$ 22.8 Billion in 2023. The market for rapeseed oil is anticipated to generate US$ 37.7 Billion in terms of revenue by 2033, at a 5.1% CAGR between 2023-2033.

Rapeseed’s popularity as an ingredient has grown dramatically over the upcoming years, thanks to a range of product releases, as customers choose natural and healthful components. Due to its abundance in polyphenols, antioxidants, vitamins, and minerals, these products offer excellent nutritional value. Demand for organically sourced goods with a functional and health focus drives the growth of rapeseed oil.

Further, rapeseed oil is used extensively in personal care items including lotions, creams, and oils beyond the food business. Vitamin E and antioxidants are included in cosmetic products that aids in reducing scar tissue, restoring damaged hair, and treating skin diseases such as eczema and acne and also encouraging healthy skin. This will help in increasing the sales of rapeseed oil globally.

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In terms of application, rapeseed oil is extensively used for food processing and as per the study, maximum revenue in the market is expected to come from the same. Rapeseed oil that has been cold-pressed recently has gained recognition as a pure natural product that is produced without the addition of any chemicals, such as preservatives, colors, or dissolving agents.

Due to the significant consumption of the product in Asian countries, Asia Pacific is predicted to account for the highest market share in the global rapeseed oil market. Some of the key factors that are significantly contributing to Asia Pacific’s growth include astonishingly booming food service industry and rising household demand for rapeseed oil.

However, the U.S. is expected to emerge as the most lucrative market over the assessment period as demand for healthy food alternatives is surging. As prevalence of lifestyle disorders such as diabetes, obesity, and others increases in the U.S., inclination towards healthy and nutritional food products is rising.

Key Takeaways:

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  • The U.S. is projected to grow at robust 7% CAGR between 2023-2033 (projected period).
  • Europe is poised to expand at 5% CAGR throughout the forecasted period.
  • Based on product type, the virgin segment is projected to exhibit growth at 6% CAGR in upcoming decade.
  • By region, Asia Pacific is account to hold lion’s share in rapeseed oil market over the assessment period.
  • In terms of application, the food service segment is poised to hold a sizeable portion in the rapeseed oil market.

Growth Drivers:

  • Rising awareness about the health benefits of consuming rapeseed oil such as low cholesterol level and others is likely to boost the demand in upcoming decade.
  • Growing rapeseed oil utilization for biofuel applications is likely to boost market potential.
  • In the upcoming years, it is anticipated that rising demand for eco-friendly and sustainable fuels will provide lucrative opportunities for the market.

Restraints:

  • Future possibilities for growth might be hampered by growing production of alternative oilseeds such as palm oil and soybean oil.
  • Consumption of excessive rapeseed oil is expected to lead to inflammation, which might restrict the sales.

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Competitive Landscape:

As per the study, key companies are introducing various customized products with different nutritional values and clean-label ingredients to cater to the demand. To diversify their product offerings, numerous players are engaging in marketing campaigns such as digital marketing campaigns on social media. These companies are also collaborating with e-commerce platforms to improve their brand recognition.

For instance,

  • In March 2022, natural-derived, plant-based rapeseed oil methyl ester Agri-PureTM AP-406 will be distributed, marketed, and sold throughout EMEA under a partnership agreement between ChemPoint and Cargill, Inc. The partnership’s goal is to enhance Cargill’s Agri-PureTM customers’ entire experience.
  • In April 2021, rapeseed oil will be tested for three months in place of diesel fuel on all trains operating the Paris-Granville route by SNCF Voyageurs in collaboration with the Normandy area.

Key Companies Profiled by Fact.MR

  • American Vegetable Oils Inc.
  • Cargill Inc.
  • Louis Dreyfus Company
  • Adani Wilmar Ltd.
  • Grief Inc. (Olympic Oils Limited)
  • Associated British Foods plc.
  • Bunge Limited
  • Adams Group Inc.
  • Marico Limited
  • Fuji Oil Holdings Inc.
  • Archer Daniels Midland Company
  • Borges International Group S.L.U
  • Ruchi Soya Industries Limited
  • ConAgra Foods (Agrotech Foods Ltd).

More Valuable Insights on Rapeseed Oil Market

In the latest study, Fact.MR offers a detailed study on global rapeseed oil market for the forecast period of 2023 to 2033. This study also highlights key drivers promoting the sales of rapeseed oil through detailed segmentation as follows:

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By Product Type:

  • Virgin
  • Processed

By End User:

  • Food Services
  • Food Processors
  • Retail

By Distribution Channel:

  • Online Channels
  • Modern Trade
  • Franchise Outlets
  • Specialty Stores

By Region:

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA

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Key Questions Covered in the Rapeseed Oil Market Report

  • What is the projected value of the rapeseed oil market in 2023?
  • At what rate will the global rapeseed oil market grow until 2032?
  • Which are the factors hampering the growth in the rapeseed oil market?
  • Which region is expected to lead in the global rapeseed oil market during 2023-2033?
  • Which are the factors driving the rapeseed oil market during the forecast period?
  • What is the expected market value of the rapeseed oil market during the forecast period?

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Bergamot Oil Market: As per Fact.MR, the global bergamot oil market is projected to reach US$ 31.5 Billion in 2027 and exhibit growth at a CAGR of 8.2% in the forecast period from 2022 to 2027. Growing emphasis on fitness and health are important aspects that may promote demand for bergamot oil throughout the predicted period.

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Coconut Oil Market: As per Fact.MR, the global market for coconut oil is projected to expand from US$ 5.7 Billion in 2022 to US$ 9.5 Billion by 2032, the sales are poised to reach at 5.2% CAGR throughout the forecast period. Plant-based personal care and cosmetics are becoming more popular, which will open up new business opportunities for coconut oil market.

About Fact.MR

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Artificial Intelligence

Mainland China-Hong Kong ETF Connect Marks Two Years of Strengthened Market Integration, Expansion Expected to Boost Investment Options and Liquidity

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GUANGZHOU, China, July 8, 2024 /PRNewswire/ — On July 4th, the ETF Connect Program, which facilitated two way capital flows between mainland China and Hong Kong for eligible ETFs, celebrated its two-year anniversary. Over the past two years, the program strengthened its position in deepening the integration of the two capital markets, the number of eligible ETFs increasing from 87 to 151 since launch and the monthly Northbound trading volume rising from US$55 million to US$2.98 billion in June this year.

According to Hong Kong Stock Exchange, the current eligible ETFs consist of 84 listed on Shanghai Stock Exchange, 57 listed on Shenzhen Stock Exchange, and 10 listed on Hong Kong Stock Exchange. Among them, E Fund Management (“E Fund”), the largest fund manager in China, has a total of 14 ETFs included, covering a variety of indexes, including broad-based indexes such as CSI 300 Index and STAR 50 Index, thematic index such as CSI Artificial Intelligence Index, and strategic index such as CSI Dividend Index. Additionally, the average management fee of these offerings was less than 0.3% per annum, underscoring E Fund’s dedication to empower foreign investors to diversify their assets across both Hong Kong and mainland China markets in an efficient and cost-effective manner.
The scope of the program is expected to see significant expansion on July 22nd. It is believed that this expansion will serve offshore investors seeking exposure to A-share capital market with enhanced investment choices, and increase liquidity and trading activity of relevant ETFs in the same time.
About E FundEstablished in 2001, E Fund Management Co., Ltd. (“E Fund”) is a leading comprehensive fund manager in China with close to RMB 3.3 trillion (US$ 454 billion) under management. It offers investment solutions to onshore and offshore clients, helping clients achieve long-term sustainable investment performances. E Fund’s clients include both individuals and institutions, ranging from central banks, sovereign wealth funds, social security funds, pension funds, insurance and reinsurance companies, to corporates and banks. It is a pioneer and leading practitioner in responsible investments in China and is widely recognized as one of the most trusted and outstanding Chinese asset managers.
Note: As at Jun 30, 2024. AuM includes subsidiaries. Source: PBoC, Wind.
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Artificial Intelligence

Revolutionizing EV Charging: Emobi and Autocrypt Unveil First US-based Plug & Charge Ecosystem Powered with AI

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SAN FRANCISCO, July 8, 2024 /PRNewswire/ — Emobi and Autocrypt today announced the first US-based Plug & Charge ecosystem, set to revolutionize electric vehicle (EV) charging with artificial intelligence (AI).

In June 2023, Autocrypt, a global leader in automotive cybersecurity, partnered with Emobi, a US-based e-mobility hub, to develop a secure communication framework for EVs and charging stations based on ISO 15118-2 and ISO 15118-20 standards. The collaboration has focused on building a robust Public Key Infrastructure (PKI) utilizing fine-tuned AI and machine learning models to address errors and data inconsistencies prevalent in traditional Plug & Charge systems.
The Plug & Charge ecosystem enables EV drivers to start charging at any station simply by plugging in their vehicle. Through asymmetric encryption technology, the chargers automatically identify the EV and securely process the payment of the EV charging session. Unlike other Plug & Charge services, this is the first Plug & Charge ecosystem headquartered in the United States, ensuring data security and compliance with the US government. Additionally, it features an intelligent error-handling system that addresses edge cases in ISO 15118 standards, setting a new benchmark for the industry.
Throughout this collaboration, Emobi has worked closely with the U.S. Department of Energy (DOE) Argonne National Laboratory to ensure that findings from this ecosystem contribute to the National Charging Experience (ChargeX) Consortium, funded by the Joint Office of Energy and Transportation of the United States.
“Security in EV charging infrastructure enhances openness while providing better control,” said Sean HJ Cho, President of Autocrypt North America. “By combining our PKI technology with Emobi’s expertise in AI and machine learning, we are bringing a secure yet innovative Plug & Charge solution to market, creating an unrestricted charging environment that ensures convenience, precision, and security throughout the entire charging and payment processes.”
Lin Sun Fa, CEO of Emobi, added, “The focus is to enable EV automakers, charger operators, and e-mobility service providers to continue building their products without being hindered by edge cases and constantly evolving standards. We are leveraging AI and Autocrypt’s PKI technology within the existing ISO 15118 standards, ensuring ease of implementation while improving charging infrastructure quality and security.”
About Autocrypt Co., Ltd.
AUTOCRYPT is the industry leader in automotive cybersecurity and connected mobility technologies. The company specializes in the development and integration of security software and solutions for in-vehicle systems, V2X communications, Plug&Charge, and mobility platforms, paving the way towards a secure and reliable C-ITS ecosystem in the age of software-defined vehicles. AUTOCRYPT also provides consulting and testing services along with custom solutions for UN R155/156 and ISO/SAE 21434 compliance.
About Emobi
EMOBI is the EV charging ecosystem that powers hundreds of e-mobility businesses with AI. The ecosystem offers instantaneous access to a vast network of EV charging networks and e-mobility partners, while ensuring superior data quality through its refinement models. With over 120,000 connected charging ports in the United States and Canada, Emobi has established itself as the largest roaming hub in North America powered with AI. In addition, Emobi has garnered trust in the e-mobility market, advising leading EV manufacturers, e-mobility enterprises, startups, utilities, and esteemed U.S. Government Agencies like the Department of Energy (DoE) and the Department of Transportation (DoT).

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Artificial Intelligence

Outfit7 Brings Iconic “La Bamba” song to My Talking Hank: Islands

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Get Ready to island hop with “La Bamba” in the new trailer for My Talking Hank: Islands!
LIMASSOL, Cyprus, July 8, 2024 /PRNewswire/ — Outfit7 has secured the license to use the iconic song “La Bamba” for promotion of their game, My Talking Hank: Islands. Featured in the brand new trailer that debuted last week, the song adds a feel-good vibe to the latest major release from Talking Tom & Friends.

 
 
This winning combo expresses just how much Outfit7 loves mixing pop culture with fun gameplay to make things more exciting for players. “‘La Bamba’ isn’t just a catchy tune; it sets the whole mood!” said Helder Lopes, VP of Creative Functions and R&D at Outfit7. “It really taps into the adventurous, explorative spirit of My Talking Hank: Islands.”
My Talking Hank: Islands launches players into a colorful island world filled with secrets, treasures, and friendly animals eager to befriend you. It’s not just a game; it’s an invitation to discover an island filled with excitement and mystery. The trailer featuring “La Bamba” is available on various digital platforms, including YouTube, the game’s official website, and Outfit7’s social media channels. For the first month after release, players can also watch the trailer through the in-game cinema feature, which can be found in Hank’s Tree House!
Get ready to set sail with “La Bamba” as your soundtrack! Dive into the fun today and check out the brand-new trailer on YouTube, on the game’s official website, and Outfit7’s social media channels.
For more details and to view the trailer, please visit HERE. To download the game, click HERE.
ABOUT OUTFIT7: Outfit7 Limited is a dynamic force in mobile gaming, reaching a global audience of billions with its award-winning games. Powered by creativity and industry-leading expertise, the company’s talented international team of over 400 people pushes the boundaries of the possible every day. Outfit7’s 20+ games have now been downloaded worldwide over 23 billion times and up to 470 million fans play with them every month. Its portfolio also includes numerous chart-topping animated series, theme parks, and a licensing program. You can find more information at www.outfit7.com.
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