Betting all your chips on the next cooking oil staple? Your smart money should be on Canola oil, a less fancied option when compared to Olive oil, however a commodity that’s fast turning into a favorite with the producers, customers and commercial end-users such as restaurants and food processing plants. Why? Read on.
A Crusader for Health (albeit with split personality issues)
With worldwide issues like diabetes and cardiovascular diseases, a simple tweak like using a healthier cooking oil can help to make a difference. Did you know? Canola oil is known as both the ‘world’s healthiest cooking essential oil’ and a ‘poison.’ The latter is attributed to the fact that Canola oil contains erucic acid, a substance found in traditional rapeseed that has been linked with prompting structural changes in the heart tissues and other problems in animals. But then again, modern day cultivation ensures that your Canola oil has a miniscule percentage of erucic acid.
Canadian grown Canola contributes around twenty billion dollars to the country’s economy each year, creating more than 249,900 jobs and twelve billion in wages. Canada exports 90% of its Canola as seed, oil or meal to fifty-five markets around the globe. Raw seeds are distributed to destinations like China, Japan and Mexico.
Versatility, for both commercial and industrial use
Is Canola oil used industrially in machines? Yes. Nevertheless, that doesn’t mean it’s risky for humans to consume. Canola oil can be used industrially as a pesticide, industrial lubricant, and biofuel. It is also used to make soaps, plastics, and printing inks. In fact, such usage is considered environmentally friendly.
The demand for Canola oil is spiking in most countries like China, India, Pakistan, and developed countries like the UAE and the US. Due to the rising disposable incomes, and increase in the middle-class population in these regions, the demand for Canola oil and meal is reliably increasing.
Holding its own- Olive oil vs. Canola oil
Olive oil is a ‘cold pressed oil’ which allows the oil to maintain its natural nutrients without going rancid. The most notable difference between the two oils is that Canola oil has been created by human made processes whereas olive oil comes from a natural resource. Canola oil is priced lower when compared to Olive oil.
Although not all fats are bad, they must all be attentively monitored. Most fast food chains are preferring Canola because of its health benefits; this way they can save some money, and at the same time brag that they are using evidently healthy oil. This perfect mix of practicality, productivity, price and availability will ensure that Canola oil will be a strong contender amongst commercially available vegetable oils, in the years to come.
Know more about the Canola oil trade, courtesy of the free sample of Technavio’s expert market research report that deals with such factors as usage, geographical segmentation, market trends and vendor landscape that directly impacts the global Canola oil market.