South Korea Rapeseed Oil Market Outlook, 2028

The rapeseed oil market in South Korea has been steadily growing in recent years, reflecting the increasing consumer demand for healthier cooking oils and the versatility of rapeseed oil in various culinary applications. In South Korea, the production of rapeseed oil is primarily concentrated in the Chungcheong and Gyeonggi regions. The Chungcheong region, in particular, is known for its extensive rapeseed fields, which thrive in the region's moderate climate and well-defined seasons. Farmers in these regions have been actively involved in rapeseed cultivation for both oil extraction and as a rotational crop in their agricultural practices. This geographical concentration of rapeseed oil production has contributed to a steady supply of this healthy cooking oil to meet the growing demand within South Korea and, potentially, for export to international markets as well. South Korea imports most of its Rapeseed oil from India, Germany and Belgium. According to the research report "Japan Rapeseed Oil Market Outlook, 2023-28," published by Bonafide Research, is predicted to expand significantly during the course of the forecast year 2023-2028. The rapeseed oil market in South Korea is undergoing a significant expansion, driven by a combination of factors that reflect changing consumer preferences and the growing recognition of rapeseed oil's versatility and health benefits. As consumers become increasingly health-conscious and seek out cooking oils that align with their dietary choices, rapeseed oil has gained prominence due to its low saturated fat content and high levels of heart-healthy monounsaturated and polyunsaturated fats. This nutritional profile has positioned rapeseed oil as a popular choice for both home cooks and food manufacturers looking to offer healthier options. Furthermore, the expansion of rapeseed cultivation within South Korea has bolstered the domestic supply of this oil, reducing the need for imports and supporting local agricultural communities.

According to the report, the Rapeseed oil market is segmented on the basis of Nature of oil, which is Conventional and Organic type. Farmers in the South Korea have adopted modern techniques to boost crop yields and improve the overall quality of rapeseed oil. Additionally, the increasing awareness among consumers regarding the health benefits of using rapeseed oil over other cooking oils has contributed to its popularity. In 2022, the South Korea' rapeseed oil market was largely dominated by the conventional variety. However, a significant shift in consumer preferences towards healthier and more sustainable options is expected to reshape the market landscape in the coming years. The organic type of rapeseed oil is anticipated to emerge as the dominant force in the market. This shift can be attributed to an increasing awareness among consumers about the benefits of organic products, which includes a perception of higher quality and reduced exposure to pesticides and synthetic chemicals. Furthermore, the organic rapeseed oil segment is forecasted to exhibit the largest CAGR in the years spanning 2023 to 2028. By End-Users the report has been distinguished into households, industries, and Food and services. Rapeseed oil's popularity among households is a result of its adaptability in regular cooking. Its neutral flavor profile and high smoke point make it a popular choice for frying, sautéing, baking, and salad dressings. As sustainability becomes a more significant concern, rapeseed oil's potential as a biodiesel feedstock has gained attention, contributing to its rising demand in the industrial sector. Moreover, the growing awareness of health-conscious consumers has driven the food service industry to shift towards healthier cooking oils like rapeseed oil. Restaurants and food manufacturers are increasingly using it in their recipes to meet customer demands for healthier menu options. In the South Korea rapeseed oil market, segmentation based on distributional channels reveals a notable pattern in consumer preferences. Conventional stores have traditionally held the largest market share, reflecting the convenience and accessibility of rapeseed oil products through local grocery stores and specialty food shops. Following closely behind are hypermarkets and supermarkets, which cater to the needs of consumers seeking a wide range of grocery items, including rapeseed oil. However, the most significant and promising trend for the years 2023 to 2028 is the rapid growth of online sales. Online sales channels are experiencing an unprecedented surge in popularity, driven by the convenience of e-commerce platforms and the increasing willingness of consumers to purchase food and cooking essentials online. This channel is expected to witness the largest CAGR during this period, indicating a shift in consumer behavior and their inclination towards online shopping for rapeseed oil and related products. Considered in this report: • Geography: South Korea • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report: • South Korea Rapeseed Oil Market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Nature: • Conventional • Organic

By End User: • Household • Industrial • Food Service By Distributional Channel: • Conventional Store • Hypermarket/Supermarket • Direct Sales • Online • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Rapeseed Oil Market industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.