European biodiesel demand and health benefits to drive global rapeseed oil market

The rapeseed oil industry was valued at $23.76 billion (€21.83bn) in 2014, and is expected to reach $35.39 billion by 2021 at a compound annual growth rate of 6.9%. Rapeseed oil is extracted from rape crop which is the third largest crop cultivated in Europe. Credence Research forecasts in a new market study that the global industry for rapeseed oil is anticipated to witness rapid growth during the forecast period.