"Overview of Oilseeds market"
The Oilseeds market was valued at US$ XX Mn in 2018 and it is anticipated to reach more than US$ 340 Bn by 2027, with a CAGR of 6.3 % during the forecast period.
The global oilseeds market is estimated to gain traction in coming years. Some of the factors fuelling the growth of global market include rising demand for organic and healthy products, molecular breeding in oilseeds, and the growth of livestock sector.
Growing Demand for Vegetable Oil is Fuelling the Demand for Oilseeds
The growing demand for vegetable oil from biodiesel industry is majorly driving the growth of oilseeds market. The biodiesel industry is witnessing rapid growth with towards conventional fuel which is expected to poise a positive impact on the market growth. Moreover, the growing production capabilities in emerging economies such as Indonesia, China, Malaysia, India, and Brazil are expected to favour the growth of global market in coming years.
However, adverse weather condition resulting in shortening supply might hamper the growth of global oilseeds market at a minimal extent. Although, in response to huge demand from large consumer base manufacturers are implementing modern equipment to fight against adverse weather conditions which is expected to create ample opportunities for the growth of global market.
Sunflower Segment held Key Share in Global Oilseeds Market in 2018
On the basis of type, the sunflower segment dominates the global market by holding largest market share in 2018. This is mainly due to the benefits offered by sunflower oilseeds. The sunflower oilseeds are rich source of carbohydrate, oil, ash, calcium, and protein. Also, the lesser price of sunflower seeds than soybean seeds is expected to boost the demand of the segment across the globe.
Conventional Segment Occupied Significant Market Share in 2018
By category, the global oilseeds market is dominated by conventional segment. The trend is anticipated continue during the forecast period. The conventional segment offers cost effectiveness, improves soli quality, and minimizes the level of contamination in air and soli. These factors are anticipated to propel the growth of the segment in coming years.
Vegetable Oil Segment Is Estimated To Grow At a Highest CAGR during The Forecast Period
Based on application, the vegetable oil segment is estimated to witness highest growth during the forecast period. The growth of the segment can be attributed to rising demand from confectionary and bakery industry. The vegetable oil is used in several applications such as snacks & savoury products, sauces, meat products, spreads, and RTE. Additionally, vegetable oil has major application in industrial sector owing to the increasing production of fatty acids, adhesive, glycerol, antiknock additives, plastic & resins, and paints.
North America held Key share in Global Oilseeds Market in 2018
In terms of region, North America dominates the global market, accounting for significant market share in 2018. The dominance can be attributed to favourable trade prices in American countries for oilseeds. The U.S. is the major contributor for oilseeds market in North America.
Europe is also projected to witness noteworthy growth over the forecast period. The growth of Europe is mainly due to the high demand for organic products across the region. Also, rising awareness regarding benefits of oilseeds is favouring the growth of the region.
The global oilseeds market consists of several regional and global players. This makes it highly fragmented. In order to strengthen their foothold in global market, enterprises are planning different strategies such as mergers & acquisition and product launch.
For instance, in October 2019, BASF announced that they are planning to launch 30 products by 2028. To accomplish this the company increases their R&D budget US$ 988 Mn in 2019.
In April 2018, BASF announce the extension of their acquisition with Bayer to further purchase bayer’s crops and seeds business. The extended agreement include Bayer’s entire vegetable seeds portfolio branded as Nunhems.
In April 2018, Chinese company Louis Dreyfus announced the completion of acquisition with Sinarmas Natural Resources Foodstuff Technology (Tianjin) Co., Ltd which is specialized in oilseeds refining and crushing facilities.
In August 2018, Archer Daniels Midland Company signed an agreement with Brazil-based Algar Agro to purchase some assets including oilseeds facilities based in Maranhao and Uberlandia. The agreement was intended to expand their global footprint.
Some of the prominent companies operating in global Oilseeds market include Syngenta AG, Archer Daniels Midland Company, KWS Saat AG, Bayer Cropscience AG, Krishidhan Seeds Pvt. Ltd., Burrus Seed Farm, Hefei Fengle Seed Co. Ltd., Dow Agrosciences LLC., Gansu Dunhuang Seed Co. Ltd., and E. I. du Pont de Nemours and Company.
Global Oilseeds Market by Type
- Sunflower Seed
- Palm Kernel
Global Oilseeds Market by Biotech Trait
- Insecticide Resistant
- Herbicide Tolerant
Global Oilseeds Market by Category
- Genetically Modified
Global Oilseeds Market by Application
- Edible Oil
- Animal Feed
Global Oilseeds Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America