Rapeseed Oil Market Overview in Asia-Pacific
In value terms, rapeseed oil production fell to $ in 2019 estimated in export prices. The total output value increased at an average annual rate of +% from 2007 to 2019; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2008 with an increase of % against the previous year. The level of production peaked at $ in 2012; however, from 2013 to 2019, production failed to regain the momentum.
China ( tonnes) remains the largest rapeseed oil producing country in Asia-Pacific, comprising approx. % of total volume. Moreover, rapeseed oil production in China exceeded the figures recorded by the second-largest producer, India ( tonnes), threefold. The third position in this ranking was occupied by Japan ( tonnes), with a % share.
In China, rapeseed oil production expanded at an average annual rate of +% over the period from 2007-2019. In the other countries, the average annual rates were as follows: India (+% per year) and Japan (+% per year).
The revenue of the rapeseed oil market in Asia-Pacific reached $ in 2019, flattening at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2012 when the market value increased by % y-o-y. As a result, consumption reached the peak level of $. From 2013 to 2019, the growth of the market failed to regain the momentum.
In China, rapeseed oil consumption increased at an average annual rate of +% over the period from 2007-2019. In the other countries, the average annual rates were as follows: India (+% per year) and Japan (+% per year).
In value terms, China ($), India ($) and Japan ($) were the countries with the highest levels of market value in 2019, together comprising % of the total market. These countries were followed by Australia, which accounted for a further %.
Among the main consuming countries, Australia recorded the highest growth rate of market size, over the period under review, while rapeseed oil market for the other leaders experienced more modest paces of growth.
In 2019, the highest levels of rapeseed oil per capita consumption was registered in Australia ( kg per person), followed by Japan ( kg per person), China ( kg per person) and India ( kg per person), while the world average per capita consumption of rapeseed oil was estimated at kg per person.
From 2007 to 2019, the average annual rate of growth in terms of the rapeseed oil per capita consumption in Australia amounted to +%. In the other countries, the average annual rates were as follows: Japan (+% per year) and China (+% per year).