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Oilseed Processing Market Expected to Reach 344.37 Billion USD by 2022
The report "Oilseed Processing Market by Oilseed Type (Soybean, Rapeseed, Sunflower, and Cottonseed), Process (Mechanical and Chemical), Application (Food, Feed, and Industrial), and Region - Global Forecast to 2022", The oilseed processing market is projected to reach a value of USD 344.37 Billion by 2022, at a CAGR of 7.37% from 2016 to 2022. The market is driven by factors such as large proportion of oilseeds being processed, globally and the growth in demand for oilseed meal. The latter drives the need for processing various oilseeds such as soybean in various feed products, owing to its high protein content.
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The soybean segment is projected to be the fastest-growing market during the period 2016–2022
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 meal with high protein content from the feed industry. Moreover, the increase in demand for biodiesel derived from soybean feedstock is expected to fuel the growth of this market segment across the globe.
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The chemical segment is projected to be the fastest-growing market during the period 2016–2022
The chemical process segment is projected to be the fastest-growing due to the increase in use of the chemical process to ensure maximum extraction of oil content from oilseeds. Additionally, the high usage of the chemical process of extraction for soybean drives the market growth of this segment of the oilseed processing market.
The food segment, by application, accounted for the largest share in the oilseed processing market in 2015
On the basis of application, the market is segmented into food, feed, and industrial segments. The food segment accounted for the largest share in the oilseed processing market in 2015. This is due to the high application of oilseed processed products such as edible oil in various food products. This segment is further expected to witness high growth due to the rise in population levels in countries such as India and China.
Asia-Pacific dominated the oilseed processing market in 2015
The Asia-Pacific region was the largest market for oilseed processing in 2015. This can be attributed to the increase in demand for various oilseed processed products such as soybean meal in countries such as India and China. Rapidly growing economies in various Asian countries, such as India and China and growth in demand for biodiesel across the Asia-Pacific region are the major factors that are expected to drive the oilseed processing market during the forecast period.
This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes profiles of leading companies such as Archer Daniels Midland Company (U.S.), Bunge Limited (U.S.), Cargill (U.S.), Wilmar International Ltd. (Singapore), Richardson International Limited (Canada), Louis Dreyfus Company B.V. (Netherlands), CHS Inc. (U.S.), Ag Processing Inc. (U.S.), ITOCHU Corporation (Japan), and EFKO GROUP (Austria).
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News Release: Oilseed Processing Market Expected to Reach 344.37 Billion USD by 2022
Submitted on: January 09, 2017 12:30:45 PM
Submitted by: erik smith
On behalf of: www.marketsandmarkets.com/Market-Reports/oilseed-processing-market-245788232.html