The North America Oilseed Processing market is anticipated to grow at 6.87% CAGR from 2024 to 2029 and it is expected that the North America market is valued at USD 90 million in 2024 and is estimated to reach USD 120 million by 2029.
Oilseeds are generally used to extract edible oil for households and food industry. However, over last two decades, usage of vegetable oil has been 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.
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 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 North America market. Changing lifestyles followed by changing food preferences and experimenting with a number of new food varieties is driving the demand for 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 channel could also act as potential barriers to the market growth.
On the basis of Process, it is segmented into Mechanical and Chemical. The chemical process segment is projected to witness the highest growth due to the increasing use of the 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 Type, it is segmented into Soybean, Rapeseed, Sunflower, and 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 Application, it is segmented into Performance Food, Feed, and 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.
Geographically the North America Oilseed Processing Market is segmented into US, Canada, Mexico and Rest of North America.
The North America Oilseed Processing market has been categorized on the basis of geography to offer a clear understanding of the market. North America Oilseed Processing Market has been divided into the United States, Canada, Mexico and rest of North America. North America is expected to experience the fastest growth during the forecast period due to increased adoption of improved oil extraction technologies in the region. The North American oilseed processing market is driven by increased cultivation of vegetables, modernization of oil processing plants.
The North America Oilseed Processing Market is concentrated with well-established players. Key players in the North America Oilseed Processing Market include Wilmar International Ltd., Bunge Limited, Archer Daniels Midland Company, Efko Group, Louis Dreyfus Company B.V., CHS Inc, and Richardson International Limited
Frequently Asked Questions
Key end-use industries include food and beverage (vegetable oils, margarine, etc.), animal feed, biodiesel production, and industrial applications such as cosmetics and pharmaceuticals.
Recent technological advancements include the adoption of cold-pressing techniques, solvent extraction methods, and improved refining processes, which have increased oil yield and reduced environmental impact.
The rising demand for organic and non-GMO oils, particularly in the health-conscious and vegan food markets, is pushing oilseed processors to diversify their offerings and invest in certifications to meet consumer preferences.
The outlook is positive, driven by increasing demand for oilseeds in biofuel production, growing export opportunities, and the expansion of plant-based food markets. However, companies will need to navigate challenges related to sustainability and trade policy changes.
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