The oilseeds market is estimated to account for a value of USD 250.0 billion in 2019 and is projected to grow at a CAGR of 5.0% from 2019, to reach a value of USD 335.0 billion by 2025. The demand for healthy and organic oilseed-processed products, public-private partnerships in varietal development, and molecular breeding in oilseeds are some of the factors driving the growth of the market.
By category, the conventional segment is projected to dominate the market during the forecast period.
The conventional segment is projected to hold the largest market share in the market during the forecast period as it is relatively cheaper. It is also eco-friendly as it enhances the soil quality and nitrogen restoration, and lowers the levels of contamination in soil, air, and other water resources. The increasing demand for healthy and organic products from consumers has also led to an increase in demand for conventional oilseeds.
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By application, the vegetable oil segment is projected to dominate the market during the forecast period.
The vegetable oil segment dominates the oilseeds market due to the high demand for fats & oils from the bakery & confectionery industry and increasing applications in sauces, spreads, & dressings, meat products, RTE, and snacks & savory products. The demand for vegetable oil also remains high in the industrial sector due to the increasing application in the production of adhesive, antiknock additives, disinfectants, inks & paints, plastics & resins, glycerols, and fatty acids.
The increasing demand for oilseeds in the North American and European regions is driving the growth of the market.
The North American and European countries are witnessing increasing demand for oilseeds for use mainly in the food and feed industries. Favorable trade and price support systems have encouraged trade in oilseeds in the US. However, countries in Europe witness high demand for organic products, due to which the demand for conventional oilseeds remains high.
Key Market Players:
Key players in this market include Archer Daniels Midland (US), Cargill (US), Wilmar International (Singapore), and Bunge Limited (US). Major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
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