The Oilseed Processing Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Oilseed Processing Market is estimated to be USD 241.33 million in 2016 and predicted to rise to USD 344.37 million by 2021 with a CAGR of 7.37%. The market is segmented by Type (Soybean, Rapeseed, Sunflower, and Cottonseed), Process (Mechanical and Chemical) and Application (Food, Feed, and Industrial). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The key drivers of this market are the increased household consumption in emerging countries and growing foodservice 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 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 global 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.
The global Oilseed Processing market is segmented on the basis of Type, Process, and Application. 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 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 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.
Based on geography, the market is analyzed under various regions namely North-America, Europe, Asia-Pacific, Latin-America and Middle-East and Africa. 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. Latin America is the largest producer of soybean. 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.
The market is dominated by companies like 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.
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