Oilseed Processing Market Growth Propelled by Rising demand for edible vegetable oil for cooking purposes at domestic and commercial places

The global oilseed processing market is anticipated to exhibit a healthy CAGR during the forecast period (2012 to 2023), according to a report available on Radiant Insights, Inc. Oilseed processing is defined as mechanical way of extracting inedible and edible vegetable oil from seeds. Oilseeds are crushed using machines or pressed manually to obtain vegetable oil. Low oil containing seeds and high oil containing seeds are two different types of seeds which are used to extract oil. Low oil containing seeds contain 20% of oil and high oil containing seeds have 60 % of oil.

Rising demand for edible vegetable oil for cooking purposes at domestic and commercial places is anticipated to propel market growth. Increasing consumption of biofuel in developed and developing countries for transportation purposes is also driving the market. Biofuels such as biodiesel, methanol, ethanol, biocrude, and methane are used as transportation fuels to improve vehicle performance. Advent of modern oilseed processing technologies is expected to impel market growth. Growing concerns about fitness and health among consumers will drive the market over the forecast period.

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To cater to rising demand for healthy vegetable oils, manufacturing companies are investing in business expansion to increase production capacity. For instance, in September 2018, Louis Dreyfus Company (LDC) launched oilseed processing plant in Tianjin, China. This facility has a crushing capacity of 4000 tons and oil refining capacity of 1200 tons. The plant is expected to boost company’s supply of crude oil, soybean meal, and refined edible vegetable oil to meet consumers demand.    

The oilseed processing market can be segregated on the basis of seed type, process, application, and region. Based on seed type, the market can be categorized into rapeseed, sunflower, cottonseed, soybean, and others. In terms of process, the market can be bifurcated into chemical and mechanical. On the basis of application, the market can be classified into feed, food, and industrial.

Regional segmentation includes Europe, North America, Asia Pacific, Latin America, and Rest of the World. Asia Pacific is anticipated to hold significant market share in the coming years attributed to rising demand for oilseed processed products such as soybean meal in the region. Increasing number of health conscious health in developing countries such as China and India is driving demand for processed products. In addition, growing need for biodiesel owing to growth of industries in Indian and China will augment regional market growth over the forecast period. 

Some of the leading companies operating in the oilseed processing market are Archer Daniels Midland Company, Bunge Limited, Richardson International Limited, Louis Dreyfus Company B.V., and ITOCHU Corporation.