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The Camelina Oil Market is projected to increase by USD 228.48 million from 2022 to 2027. The market is estimated to grow at a CAGR of 5.98% between 2022 and 2027. In 2017 the market size was valued at USD 228.48 million.
The health benefits of camelina oil are a major factor driving market growth. Camelina oil is rich in sterols, which help in cholesterol absorption. Adding camelina oil to the diet reduces blood cholesterol levels. It is used as a massage oil for the skin. It has a mild aroma, Vitamin E, and omega fatty acids, which moisturize the skin and prevent damage. Camelina oil is also useful in reducing swelling in arthritis. It can also be orally taken as it contains large amounts of omega-3 fatty acids, which reduce overall swelling and are helpful in keeping the brain, eyes, and nerves healthy. It also gives relief from pain and swelling in the joints.
This market is segmented by application into biofuels, cosmetics, and food. The biofuels segment will contribute 40% to the growth of the market. The increase in the production volume of camelina oil is contributing to the development of new types of biofuels and feedstocks. Camelina oil is an environmentally friendly and safe alternative to fossil fuels. Biofuels made using camelina oil do not emit greenhouse gases and do not face huge price fluctuations like gasoline and diesel fuels. This has promoted the usage of camelina oil as a biofuel and feedstock.
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The increasing demand for biofuels is notably driving the market growth, although factors such as the presence of popular alternate products may impede the market growth. Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.
Trend
The increasing demand for biofuels is a major trend that will have a positive impact on the market. There has been an increasing demand for camelina seed crops as they are an attractive option for biofuel production because of rising environmental concerns, such as the greenhouse effect and concerns related to fossil fuels. The oil is extracted from camelina seeds, which are known to have up to 45% oil content.
In the US, manufacturers like Sustainable Oils have started producing jet fuel extracted from camelina seeds. Camelina-based jet fuel oil has all the features required for military and aviation-based flights. This blend of camelina fuel reduces carbon emissions by 75%-80% as compared to petroleum products. Therefore, increasing demand for biofuel and rising environmental concerns are projected to bring a positive trend to the market.
Challenge
The presence of popular alternate products is the major challenge impeding the market growth. Camelina oil is a rich source of omega-3 and omega-6 fatty acids, protein, and antioxidants, however, it is not considered an important feed source globally. The major reason for this is that the yield of camelina oil is much less than that of groundnut, mustard, sunflower, olive, and other edible oils. Camelina crop producers get a low market surplus due to the use of a low percentage of the total agricultural land.
Moreover, camelina seeds are grown primarily with the perception of domestic consumption in many countries, due to which they are restricted from marketing and trade purposes and, thus, remain less popular than other oilseeds. They are also less popular because they are considered as an alternate product and not a primary product. There is a shortage of proper marketing infrastructure in most countries. Government initiatives have been more focused on the consumption promotion of oilseeds like mustard and sunflower and olive oil; camelina oil, in that perspective, has not received enough attention.
Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Camelina Oil Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The oil market segmentation by distribution channel consists of GCS and H, NC/IP and D, and others. Groceries, convenience stores, supermarkets, and hypermarkets, the main channels of distribution for camelina oil, accounted for 42% of the global market in 2019. Due to rising urbanization and changing lifestyles, buyers worldwide, especially in countries like China, India, Japan, and the UK, purchase grocery items from the convenience and grocery stores. As of November 2019, more than half of the world's total population resided in urban areas, and the percentage is expected to reach 68% by 2050. A significant portion of the time-pressed urban population will prefer buying camelina oil from these channels of distribution during the forecast period.
The oil market segmentation by application consists of biofuels, cosmetics, and food. The market share growth of the biofuels segment will be significant during the forecast period. The rising geopolitical and environmental issues have raised concerns about minimizing the consumption of biofuels and feedstocks. The increase in the production volume of camelina oil is contributing to the development of new types of biofuels and feedstocks. Camelina oil is an environmentally friendly and safe alternative to fossil fuels. This will increase the adoption of camelina oil during the forecast period.
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The biofuels segment was valued at USD 290.47 million in 2017 and continued to grow until 2021. Camelina is widely preferred to other traditional oilseed crops due to several advantages, like resistance against harsh and adverse weather conditions, low water requirements, and minimal pesticide and fertilizer requirements. Various countries are, therefore, actively increasing the use of camelina oil for biofuels and feedstocks, which will help the market to grow during the forecast period.
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North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
In North America, the crop is grown across Colorado, Oregon, eastern Washington, Montana, Wyoming, and Canada. In North America, the crop is grown across Colorado, Oregon, eastern Washington, Montana, Wyoming, and Canada. Further, due to the rise in greenhouse gas levels, several countries, including the US, Canada, and Mexico, are focusing on the adaption of bio-based fuel. The transport sector, which accounts for half of the total petroleum imports, is focusing more on biofuel alternatives to reduce its import dependency. These factors will help the market growth in the region.
The outbreak of COVID-19 in 2020-2021 compelled the governments to impose lockdowns, which limited the production and supply of camelina oil and decreased its demand in North America. However, the adoption of online platforms for the distribution of non-essential items, including camelina oil, and the reopening of manufacturing units and supply chains are supporting the recovery of the regional market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Camelina Oil Market Scope |
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Report Coverage |
Details |
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Page number |
155 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.98% |
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Market growth 2023-2027 |
USD 228.48 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
5.12 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 40% |
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Key countries |
US, Canada, China, Germany, and France |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Australian Wholesale Oils, BIO PLANETE - Huilerie Moog GmbH, Fitoben Srl, Global Clean Energy Holdings Inc., H and B Oils Center Co., Henry Lamotte Services GmbH, Jedwards International Inc., Lifestream Group Pte Ltd., Making Cosmetics Inc., Mountain Rose Herbs, Newgrange Gold Ltd., NHR Organic Oils, O and 3 Ltd., Ole World Oils, Perse Beauty Inc., Skin Dewi, Smart Earth Camelina Corp., Three Farmers Foods Inc., Wild Gold LLC, and Olimega |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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