Oilseed Processing Market is anticipated to surpass US$273.763 billion by 2029 at a CAGR of 5.33%

The oilseed processing market is anticipated to grow at a CAGR of 5.33% from US$190.345 billion in 2022 to US$273.763 billion by 2029.

NOIDA, UTTAR PARDESH, INDIA, March 28, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the oilseed processing market is projected to grow at a CAGR of 5.33% between 2022 and 2029 to reach US$273.763 billion by 2029.

Oilseed processing encompasses the extraction of cooking oil from oil seeds, commencing with harvesting and concluding with oil packaging. The procedure consists of a sequence of tasks aimed at enhancing the quality of the harvested seeds, such as drying, cleaning, grading, treatment, bagging and labelling, storage, and milling. The use of seeds such as soyabean, rapeseed (canola), corn, sunflower are used to extract the oil and then it’s being processed using variety of methods. Growing demand for biofuel is the primary driving force behind the oilseed processing market growth. For instance, according to the International Energy Agency published article in 2023, the demand for biofuels is projected to grow by 38 billion liters between 2023 and 2028, representing a nearly 30% increase compared to the previous five-year period. Overall, global biofuel demand is expected to increase by 23% to reach 200 billion liters by 2028.

Oil seed processing involves the conversion of oil-rich seeds such as soybeans or sunflowers into practical products through cleaning, crushing, and oil extraction. The extracted oil finds applications in cooking, biofuels, and industrial uses, whereas the leftover meal is utilized as animal feed or fertilizer. Numerous product launches and collaborations are taking place in the market, thereby increasing oilseed processing market growth. For instance, according to Louis Dreyfus Company press release report in October 2023, company has initiated the construction of a new soybean processing facility in Upper Sandusky, Ohio. The project is scheduled to commence in early 2024, and once completed, the plant will be capable of producing soybean oil, lecithin, and will have an impressive annual soy crushing capacity of 1.5 million metric tons.

For instance, according to S&W Seed Company press release in February 2023 it states that Shell and S&W Seed Company have collaborated to establish a joint venture called Vision Bioenergy Oilseeds. The primary objective of this partnership is to advance the cultivation of camelina, and other oilseed crops specifically for the production of biofuels.

Access sample report or view details: https://www.knowledge-sourcing.com/report/oilseed-processing-market

The oilseed processing market, based on type is segmented into five main categories namely soyabean, rapeseed (canola), corn, sunflower, others. Soyabean is expected to account for major share of oilseed processing market. Owning to exceptional productivity and high appealing from commercial standpoint.

The oilseed processing market, based on application is segmented into three main categories namely feed, food, industrial. Feed is expected to account for major share of oil seed processing market. Due to oil extraction becomes a valuable protein source in animal feed. Soybeans again play a major role due to their high protein content.

Based on geography, the market for oil processing is expanding significantly in the Asia Pacific due to several factors. In countries like India, China, Vietnam, and Japan there is a growing need for oil processing in several industries, including food and agriculture. This demand is being driven by these nations. Due to increased demand for oilseed products and adoption of innovative technologies in the field of agriculture to earn high yields.

As a part of the report, the major players operating in the oilseed processing market that have been covered are AG Processing Inc, Archer Daniels Midland Company, Bunge Limited, Burrus Seed Farm, Cargill, CHS Inc, Efko Group, Wilmar International Ltd, Buhler AG, Louis Dreyfus Company.

The market analytics report segments the oilseed processing market on the following basis:

• By Type

o Soybean
o Rapeseed (Canola)
o Corn
o Sunflower
o Others

• By Application

o Feed
o Food
o Industrial

• By Geography

o North America

• U.S.
• Canada
• Mexico
• Others

o South America

• Brazil
• Argentina
• Others

o Europe

• UK
• Germany
• France
• Norway
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• Israel
• UAE
• Others

o Asia Pacific

• Japan
• China
• India
• Australia
• Others

Companies Profiled

• AG Processing Inc
• Archer Daniels Midland Company
• Burrus Seed Farm
• Cargill
• CHS Inc
• Efko Group
• Wilmar International Ltd
• Buhler AG
• Louis Dreyfus Company

Explore More Reports:

• Global Seed Market: https://www.knowledge-sourcing.com/report/global-seed-market

• Crop Oil Concentrates Market: https://www.knowledge-sourcing.com/report/crop-oil-concentrates-market

• Biological Seed Treatment Market: https://www.knowledge-sourcing.com/report/biological-seed-treatment-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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