Oilseed Processing Market Growth Analysis Report 2020-2025
Oilseed Processing market Overview:
Oilseed Processing market is anticipated to grow at 7.37% CAGR from 2018 to 2023 and it is estimated that the global market was valued at USD 278.21 million in 2018 and is expected to reach USD 397 million by 2023
Oilseeds are generally used to extract edible oil for households and food industry. However, over last two decades, usage of vegetable oil has been increased in the field of bio-fuel, due to the shortage of non-renewable resources for various purposes. Oilseeds are pressed or crushed manually or mechanically to obtain edible oil. Few oilseeds such as Soybean and Peanuts are directly consumed as food besides extracting oil from them. In addition, poppy seed and hazelnuts, which are rich in oils are consumed directly. Moreover, these oilseeds are used as food ingredients in daily cooking.
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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...
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