Market Outline: Oilseed Processing Market
Oilseed processing is carried to extract the edible and inedible vegetable oils used for human consumption, and preparation of cosmetics, lubricants, and biofuels. Edible oils are most commonly used in food industry and households. However, from last few years, due to decrease in non-renewable sources vegetable oils are used as biofuels. Oilseed processing is carried by either chemical extraction or mechanical extraction. Oilseeds are classified into low oil content seeds which have 20% oil and high oil containing seeds which have 60% or more oil. Generally, soybean, peanuts, poppy seeds, and hazelnuts are used for the extraction of oils.
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Market Dynamics: Oilseed Processing Market
Increase in the household consumption of oil coupled with rise in global population, growth in number of food processing industries, and technological advancements in the oilseed processing are the factors driving the global oilseed processing market. Moreover, increase in the preference for biofuels usage in machinery and vehicles, wide range of applications in pharmaceutical industries, and change in lifestyle such as food preferences are anticipated to propel the oilseed market over the forecast period. However, stringent government regulations for production, exportation, and marketing of oil, change in environmental conditions, and fluctuations in the pricing of raw materials might restrain the growth of the market.
Market Scope: Oilseed Processing Market
Oilseed processing market is segmented on the basis of seed type, process type, and application
Based on the seed type,it is segmented into the following:
- Palm kernels
- Sunflower seed
Based on the process type, it is segmented into the following:
- Mechanical process
- Chemical process
Based on the application, it is segmented into the following:
Market Summary: Oilseed Processing Market
Increase in the number of food and feed industries, rise in global population, and growing demand for biofuels are anticipated to drive the oilseed market. Companies are focusing on the modernization of plants to increase the capacity of oilseed processing. For instance, in 2016, Richardson International Ltd. invested approximately US$ 120 Mn in its plant in Lethbridge to modernize the facilities and raise the capacity of canola crush capacity. In addition, Increase in the exportation of edible oils and biofuels around the globe is a major factor driving the oilseed market. For instance, in 2017, Efko group, boosted its soybean oil exports to China about 6 times. In addition, in July 2015, CHS, Inc. acquired Northstar Agri Industries canola processing plant to reach more customers.
Regional Analysis: Oilseed Processing Market
Geographically, oilseed processing market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America oilseed processing market is driven by increase in the farming of vegetables, modernization of oil processing plants, and huge number of food and feed industries presence in the North America region. Europe oilseed processing market expected to hold significant share due to increase in the demand for biofuels for vehicles and machinery, changes in lifestyle such as food habits, and rapid industrialization in food and feed industries. However, Asia Pacific is an emerging region for oilseed processing market due to demand in China and India for oilseed processed products such as soybean meal, growing demand for biodiesel, and rapidly growing economies in the Asia Pacific region might fuel the market.
Market Participants: Oilseed Processing Market
Some of the players in market are Wilmar International Ltd. (Singapore), Archer Daniels Midland Company (U.S.), Richardson International Limited (Canada), CHS Inc. (U.S.), EFKO GROUP (Austria), Cargill (U.S.), ITOCHU Corporation (Japan), Bunge Limited (U.S.), and Ag Processing Inc. (U.S.) to name a few.
Notable Market Developments: Oilseed Processing Market
In March 2017, Bunge Ltd. acquired Cargill’s two oilseed processing plants in Netherlands and France to strengthening its business in Europe, Middle East and Africa
In November 2016, Archer Daniels Midland Company reopened its oilseed processing plant in Ukraine to expand the business in sunflower seed processing
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