The Middle East and Africa Oilseed Processing Market is expected to be worth USD 20.61 million in 2024 to reach USD 29.76 million by 2029 to grow with a CAGR of 7.63% in a given forecast period from 2024 to 2029.
Oilseeds are generally used to extract edible oil for households and the food industry. However, over the last two decades, vegetable oil usage has increased in the biofuel industry 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 seeds 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 Middle East and Africa markets. Changing lifestyles, followed by changing food preferences and experimenting with a number of new food varieties, are driving the demand for the oilseed market. 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.
This Research Report on the Middle East And Africa Oilseed Processing market is segmented and sub-segmented into the following categories
Middle East and Africa Oilseed Processing Market – By Type:
Soybean is projected to be the fastest-growing segment due to the increase in production of soybean in 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.
Middle East and Africa Oilseed Processing Market - By Process:
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 soybeans drives the market growth of this segment of the Oilseed Processing Market.
Middle East and Africa Oilseed Processing Market - By Application:
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.
Middle East and Africa Oilseed Processing Market - By Region:
The market is analyzed under various regions namely the Middle East and Africa. Good weather conditions in South Africa and set-up for various crushing facilities would see an increased production of the oilseed in this region. Oilseed also help in insecticide resistance, herbicide resistance, abiotic stress tolerance and disease resistance among others.
MARKET KEY PLAYERS:
Key Market Players in the Middle East and Africa Oilseed Processing market are Archer Daniels Midland Company, Bunge Limited, Cargill, Wilmar International Ltd, Richardson International Limited, Louis Dreyfus Company B.V., CHS Inc, Ag Processing Inc, ITOCHU Corporation, and EFKO GROUP.
Frequently Asked Questions
Popular products derived from oilseed processing in the Middle East and Africa include edible oils such as soybean oil, sunflower oil, palm oil, and cottonseed oil. These oils are used for cooking, frying, baking, and as ingredients in various food products.
Oilseed processing plays a vital role in the economy of the Middle East and Africa by providing employment opportunities, supporting agricultural livelihoods, contributing to food security, generating export revenue, and supplying raw materials to various industries
The Middle East and Africa oilseed processing market is driven by factors such as increasing demand for vegetable oils, population growth, rising disposable incomes, urbanization, and the expanding food processing industry in the region.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1200
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: sales@marketdataforecast.com
Reports By Region