Asia Pacific Oilseed Processing Market

Asia Pacific Oilseed Processing market  Size and Growth Analysis:

Asia Pacific Oilseed Processing market is anticipated to grow at 7.96% CAGR from 2021 to 2027 and it is estimated that the Asia Pacific market was valued at USD 97.38 million in 2022 and is expected to reach USD 142.82 million by 2027.

Asia Pacific Oilseed Processing market Overview:

Oilseeds are generally used to extract edible oil for households and the food industry. However, over the last two decades, usage of vegetable oil has increased in the field of bio-fuel, due to the shortage of non-renewable resources for various purposes. Oilseeds are pressed or crushed manually or mechanically to obtain edible oil. Few oilseeds such as Soybean and Peanuts are directly consumed as food besides extracting oil from them. In addition, poppy seed and hazelnuts, which are rich in oils are consumed directly. Moreover, these oilseeds are used as food ingredients in daily cooking.The key drivers of this market are the increased household consumption in emerging countries and the growing food service industry. Growth in retail and modern oilseed processing technologies has further triggered the availability of the product in the market. Another major factor that is expected to drive the market is the demand for biofuels in developed and developing countries.

Compulsory usage of biofuels in vehicles and other machinery would fuel the demand for oilseeds in the Asia Pacific market. Changing lifestyles followed by changing food preferences and experimenting with a number of new food varieties is driving the demand for the oilseed market in Asia Pacific. However, the gap in demand and supply worldwide is going to hinder the growth of the market. Moreover, increasing government regulations on manufacturing, exporting and marketing of oil could be a potential restraint to this market. Furthermore, fluctuating weather conditions in various regions of the world could destroy the proper product availability in the market. Price fluctuations and loopholes in distribution channels could also act as potential barriers to market growth.

Asia Pacific Oilseed Processing market Segmentation:

 The Asia Pacific Oilseed Processing market is segmented on the basis of

• Type

• Process

• Application

On the basis of Type, it is segmented into

• Soybean

• Rapeseed

• Sunflower

• Cottonseed

Soybean is projected to be the fastest-growing segment due to the increase in production of soybean in the Asian countries, owing to the strong demand for a meal with high protein content from the feed industry. In addition, the increase in demand for biodiesel derived from soybean feedstock is expected to fuel the growth of this market segment across the globe.

On the basis of Process, it is segmented into

• Mechanical

• Chemical

The chemical process segment is projected to witness the highest growth due to the increasing use of chemical processes to ensure maximum extraction of oil content from oilseeds. Additionally, the high usage of the chemical process of extraction for soybean drives the market growth of this segment of the Oilseed Processing Market.

On the basis of Application, it is segmented into Performance

• Food

• Feed

• Industrial

The food segment accounted for the largest share in the Oilseed Processing Market. This is due to the high application of oilseed processed products such as edible oil in various food products.

Asia Pacific Oilseed Processing market geographical Analysis

Based on geography, the market is analyzed under various regions namely

• India

• China

• Japan

• Australia

• South Korea

The Asia Pacific region was the largest market for oilseed processing. This can be credited to the increase in demand for various oilseed processed products such as soybean meal in countries such as India and China. Furthermore, growing economies in various Asian countries, such as India and China and growth in demand for biodiesel across the Asia Pacific region are expected to drive the market in the coming years.

Asia Pacific Oilseed Processing market Key players:

1. Archer Daniels Midland Company,

2. Bunge Limited

3. Cargill, Wilmar International Ltd.

4. Richardson International Limited

5. Louis Dreyfus Company B.V.

6. CHS Inc.

7. Ag Processing Inc.

8. ITOCHU Corporation

9. EFKO GROUP