Oilseed Processing Market Size, Share, Analysis, Growth, Current Trends, Industry Demand And Business Opportunities

The global oilseed processing market is on a promising growth trajectory amid rising consumption of oil, the pursuit of sustainable agricultural practices, and the adoption of sophisticated technologies. These factors are expected to garner the interest of prominent manufacturers as well as new entrants and entrepreneurs. As a result, open innovation, research and development, and high-value partnerships are set to increase in the coming years. Moreover, on a global scale, consumers are becoming more aware of the importance of vegetable oil in both food and non-food applications. This trend is predicted to augment the demand for vegetable oils, particularly soybean and sunflower oils. During the forecast period, the cumulative force of these factors is poised to unleash new business and economic opportunities in the oilseed processing market.

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Robust Demand for Soybean and Sunflower Oils to Result in Lucrative Opportunities

On the basis of type, the oilseed processing market is segmented into soybean, rapeseed, sunflower, cottonseed, linseed, and sesame. Among these, the demand for soybean oil is projected to soar over the study period owing to its extensive use in the animal feed industry and the consistently rising consumption of soybean oil. This optimistic demand scenario for soybean oil is expected to also work in favor of farmers, agriculturalists, and large corporations. For farmers, the sound growth prospects for soybean oil are likely to positively influence double-cropping production. The demand for sunflower-seed oil is also set to augment owing to the change in consumers' consumption patterns. With the rise in the demand for more nutritional oils, the oilseed processing market is anticipated to significantly expand by the end of the forecast period.

Strong Pursuit of Sustainable Production Practices to Unlock New Business Growth

Decision-makers are driven toward embracing sustainable innovation and production practices. For the agriculture sector, this leads to opportunities that help to save energy and reduce waste. In this view, leading manufacturers and new entrants in the oilseed processing market are engaged in the robust pursuit of sustainable production. The adoption of emerging technologies is likely to boost production, reduce waste generation, curb harmful emissions, and save energy. The promise of all these benefits is set to encourage key players in the oilseed processing market to pursue technology-led strategic partnerships. Recently, Bunge, a leading oilseed processer, showcased its new Enzymatic Interesterification (EIE) technology that processes oilseeds with minimized utilization of energy and reduced waste generation. Such technological developments are poised to unlock novel business outcomes in the oilseed processing market.

Asia Pacific Rises as Dominant Regional Market Due to Higher Consumption of Edible Oils

The Asia Pacific is set to lead in the global oilseed processing market. In this region, the substantially higher consumption of edible oils, presence of a flourishing agriculture sector, and adoption of frontier technologies will emerge as the foremost growth drivers of its oilseed processing market. Within APAC, soybean oil is predicted to bring in the most significant revenue returns. Additionally, North America is expected to rise as the fastest growing oilseed processing market due to the robust adoption of advanced crop plantation technologies, growing production of soybean, and consumer preference for nutritional oils.

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Key Market Players

Prominent players in the global oilseed processing market include ITOCHU Corporation (Japan), Bunge Limited (US), Richardson International Limited (Canada), and Ag Processing Inc. (US). 

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