Oilseed Processing Market

Oilseed Processing Market Size, Share, Growth (2023-2028)

Oilseed Processing Market size was valued at USD 310.12 billion in 2022, and it is predicted to garner a CAGR of 9.37% to reach USD 400.37 billion by 2028.

Oilseed Processing Market Overview

Organic oilseeds are nutritious and may appeal to consumers with health problems related to digestion, cholesterol, and blood pressure. The expansion of modern and retail oilseed processing technologies has boosted the availability of the product on the world market. The pharmaceutical industry uses oilseeds for dermatological products. Currently, many countries grow oilseeds for commercial purposes. For example, safflower belongs to the sunflower family originally grown in Egypt and from the Middle East to Central Europe but is now grown in the United States, Latin America, and Australia. The market is mainly driven by factors such as the strong expansion of the livestock sector and the increase in the consumption of edible oil. Latin America is predicted to be the fastest-growing region due to the escalated adoption of biodiesel in countries such as Brazil and Argentina. The main oilseed produced is soybeans, followed by rapeseed, sunflower, palm, peanut, cotton and others.

Impact of COVID-19 on the Oilseed Processing market:

The agricultural sector around the world is witnessing a surge in consumer calls amid ongoing coronavirus crises around the world. But this pandemic is having an indirect impact on the global oilseed processing market. Oilseed production will not be affected, but calls for oilseeds will decline from vegetable oil manufacturers, as production facilities could halt making them due to full foreclosure and closure of the industry of choice for many countries as a precautionary measure for COVID-19. But the market is predicted to witness an increase in call once situations around the world begin to normalize.

Oilseed Processing Market Growth:

In 2020, the market is growing at a steady rate and with the increasing adoption of new strategies by major players, the market is forecasted to rise over the projected horizon. Oilseeds are considered one of the fastest-growing crops in the world agricultural market due to their wide applicability in the food industry, pharmaceutical industry, cosmetic industry and animal feeding. Oilseeds were grown primarily for the extraction of edible oils, but now oilseeds have gained more attention due to their industrial use. The oil extracted from the oilseeds is employed in food products for human consumption, while the oil residues are employed for animal feed.

Recent Developments and Trends:

• Agriculture Minister of India, Narendra Singh Tomar announced that the Government of India will launch the “TILHAN MISSION” to boost oilseed production. The statement was made on the occasion of Soil Health Card Day.

• Amul entered the edible oils business with the launch of the January brand in Gujarat and hopes to offer remunerative prices to oilseed producers.

Oilseed Processing Market Drivers:

The global oilseed processing market has diversified in recent years due to the increase in the number of health-conscious consumers who prefer to consume food products that contain less trans-fat, which is also predicted to drive market growth. In the coming years Households and food industry are the main contributors to this business growth. Peanuts and soybeans are employed directly as food products without extracting oil from them. The use of vegetable oil has escalated due to the lack of non-renewable resources. Hazelnuts and poppy seeds are also very rich in oil, but they are also consumed directly, as they are necessary in the daily cooking of food products. The global oilseed market is predicted to experience significant growth, mainly due to the increasing call for vegetable oil from the biodiesel industry.

Oilseed Processing Market Restraints:

The main limiting factor for this market is the instability of prices due to the seasonal nature of various crops, which is also supposed to be the main factor hampering the expansion of the global oilseed processing market. Furthermore, the limited availability of oilseeds is predicted to hold back the expansion of the global market during the outlook period.

OILSEED PROCESSING MARKET REPORT COVERAGE:

Oil Seed Processing Market Segmentation:

By Process:

• Mechanical 

• chemical

By Type: 

• soybeans

• rapeseed

• sunflower

• cotton 

By Application:

 the food segment holds a significant portion of the worldwide market. Also, the animal feed industry productively uses the by-products associated with oilseed refining into higher value raw materials. By doing so, it adds value to the segment of the value chain, which produces the "by-product." In some cases, the additional economic value that the use of the by-product brings may be a determining factor in the economic viability of the value chain segment. Through the use of these materials, the animal production industry benefits humanity in at least two additional ways. The most obvious is the relatively inexpensive production of quality animal protein and other products for human consumption.

Oil Seed Processing Market Regional Analysis:

• Asia Pacific

• Europe

• Middle East and Africa

• North America

• Latin America

Asia-Pacific was responsible for the largest market share in the historic years due to the growing call for a number of oilseed products, for example, soybean meal in countries such as China and India. On the other hand, Latin America, the Middle East and Africa are predicted to be the rapidly developing market for the duration of the forecast, due to the greater acceptance of the improved seed experience compared to the provinces. to meet the growing call for processed oilseed products.

Oil Seed Processing Market Key Players:

1. Archer Daniels Midland Company (U.S.)

2. Bunge Limited (U.S.)

3. Cargill (U.S.)

4. Wilmar International Ltd. (Singapore)

5. Richardson International Limited (Canada)

6. Louis Dreyfus Company B.V. (Netherlands)

7. CHS Inc. (U.S.)

8. AG Processing Inc. (U.S.)

9. ITOCHU Corporation (Japan)

10. Efko Group (Austria)