Oilseed farming market comprises of the sales of oilseeds by various that produce a variety of oilseed crops including sunflower seeds, rapeseeds, soybeans, sesame seeds and other oilseeds. Oilseeds are grown mainly for obtaining oil. Key sources of edible oils are basically cottonseed, palm kernel, copra, peanut, soybean, rapeseed, and sunflower seed. Oil is extracted either by chemical extraction using solvents or by mechanical extraction processes in oil mills. Oilseeds are generally used for oil & biofuel extracted from the seed of the crop grown naturally in the fields that includes soybean, canola, sunflower, flaxseed and rapeseed. They are extensively used in applications such as biofuel, food service, and household.
As per analysis, “Oilseed Farming Global Market Report 2020-30: Covid 19 Impact and Recovery” the key companies operating in the global oilseed farming market include Burrus Seed farm; Hefei Fengle Seed Co Ltd; Gansu Dunhuang Seed Co Ltd; Diester Industrie; Land O’Lakes Inc and among others. Key players in this global market are focusing on mounting their presence through mergers & acquisitions, expansions & investments, partnerships, joint ventures, and agreements. These players have a strong presence in Europe and North America. They also have various manufacturing facilities and many strong distribution networks across these regions.
Based on type, oilseed farming market can be segregated as soybean farming and other oilseed farming. Soybean farming segment dominates the global market owing to increase in the consumption of soybean due to its increased application in the production of fatty acids, soaps, edible oil, biodiesels, and animal feed. Based on application, market can be segregated as feed, food products and industrial products. Additionally, based on farming process, market can be segregated as organic oilseed farming, farming process and traditional farming.
The oilseed farming market is driven by growth in demand for protein meals, followed by rise in usage of oilseeds in animal feed, increase in demand for Non-GMO oilseeds, rise in demand for oil in food sector, supportive government policies to increase agricultural production of oil and rise in demand from the biodiesel sector. However, price fluctuations in oilseeds, uncertainty in climatic conditions and low yield of oilseed crops in under-irrigated areas may impact the market. Moreover, rise in demand for healthy & organic oilseed-processed products is a leading opportunity for market. Furthermore, post-harvest management in developing countries is a major challenge for global market.
Based on geography, the Asia-Pacific region dominates the global oilseed farming market owing to increase in food processing industries & retail industry coupled with growth in advancements in seed technologies & biotech traits, for instance insecticide resistant, herbicide tolerant, and other stacked trait across the region. The North-America and Europe regions are estimated to witness higher growth rate due to growth in usage of oil for regular cooking and surge in population over the forecast period. It is projected that future of the global oilseed farming market will be bright because of increase in acceptance of biotech trait in oilseed and high production of soybean during the forecast period.
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Ankur Gupta, Head Marketing & Communications