Author: Himanshu Patni
17 February 2023
The oilseed is considered to be one of the fastest-growing crops in the global agricultural market owing to its wide applicability in the food industry, pharmaceutical industry, cosmetic industry, and animal feed industry. The growing usage of oilseeds in animal feed is expected to propel the growth of the oilseed market going forward. Oilseeds were mainly grown for extracting edible oils, but now oilseed has attracted more attention due to its industrial use. Oilseeds are a rich source of oil, fatty acids, vitamins, minerals, protein, and fiber, all of which are often employed in the extraction of oil. Following the extraction of oil from oilseeds, the nutrient-dense pulp is transformed into oilcake or meals and fed to dairy farm animals to improve the product and quality of milk while also reducing feed requirements.
The Global Oilseeds Market Size is estimated to registering a CAGR of 4.2% from 2022 to 2028 owing to surge in nutritional benefits among individuals, rising soybean production, and others. Rising government initiatives are a key trend gaining popularity in the oilseeds market. Governments across the world are taking an indicative to improve the production of oilseeds and cut costly vegetable oil imports. For instance, in August 2021, the government of India launched a National Mission on oilseeds and oil Palm, a strategy to increase local oilseed output and become self-sufficient in edible oil. Moreover, the rising need for biofuels in developing as well as developed countries is triggering the growth of the oilseeds market.
For a detailed analysis of the Global Oilseeds Market browse through – https://univdatos.com/report/oilseeds-market/
Based on oilseeds type, the market is segmented into oilseeds copra, cottonseed, palm kernel, peanut, repeseed, soybeans, and sunflower seed. According to the oilseeds market trends, on the basis of oilseeds type, the soybean segment was the highest contributor to the market. Global soybean production has increased, and is expected to continue to grow, owing to strong demand for animal feed, especially in emerging economies such as China, Brazil, India, Korea, and others, where the rapid increase in standard of living allows the average consumer to eat more meat. In addition, substantial demand for soybean-based vegetable oil as a biodiesel feedstock is anticipated to boost the production of soybean, thereby driving the growth of oilseeds market.
On the basis of product type, the market is segmented into animal Feed and edible oil the animal feed segment was the highest contributor to the market in 2020. Meat, seafood, poultry, and milk continue to make vital contributions to global food supply and, as a result, animal feeds have become a significant component of the integrated food chain. Oilseed meal, which is a by-product of processed oilseeds after extraction of oil, is used extensively in animal feeds, and is therefore a vital economic aspect of oilseed production. Animal feed is produced from large varieties of oilseeds, which include copra, cottonseed, palm kernel, peanut, rapeseed, soybean, and sunflower seed. Thus, animal feed segment gained the highest traction in the oilseeds market.
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For a better understanding of the market adoption of the oilseeds industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly People use these oilseeds as they are very beneficial to health and also they generate income and employment. These crops are not only limited to domestic use; they can also be applied in various other industry sectors like food, pharmaceuticals, cosmetics and animal feed. Because of this versatility of oilseeds, they are now in more demand and for that reason the market is booming worldwide. The oil produced from oilseed is used in human food products, while the oil residue is used as animal feed. Moreover, China is anticipated to grow at the healthy rate in the Asia-Pacific oilseeds market owing to the increasing number of technological advancements.
Some of the major players operating in the market include ADM, BASF SE, Bayer AG, Burrus Seed, Cargill Incorporated, Corteva, Gansu Dunhuang Seed Industry Group Co., Ltd., KWS SAAT SE & Co. KGaA, Mahyco Seeds, Syngenta Crop Protection AG.
Global Oilseeds Market Segmentation
Market Insight, by Oilseeds Type
· Copra
· Cottonseed
· Palm Kernel
· Peanut
· Repeseed
· Soybean
· Sunflower Seed
Market Insight, by Product Type
· Animal Feed
· Edible Oil
Market Insight, by Application
· Genetically Modified
· Conventional
Market Insight, by Region
· North America
o US
o Canada
o Rest of North America
· Europe
o Germany
o United Kingdom
o France
o Italy
o Spain
o Rest of Europe
· Asia-Pacific
o China
o Japan
o India
o Rest of Asia-Pacific
· Rest of the World
Top Company Profiles
· ADM
· BASF SE
· Bayer AG
· Burrus Seed
· Cargill Incorporated
· Corteva
· Gansu Dunhuang Seed Industry Group Co., Ltd.
· KWS SAAT SE & Co. KGaA
· Mahyco
· Syngenta Crop Protection AG
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