Oilseeds are crops seeds that are grown in order to extract oil. Oilseeds are rich source of proteins and used as an edible oil or animal feed. Major factor driving growth of the global oilseeds market is increasing demand of oil from households and food industry. Additionally, increasing use of vegetable oil in production of biofuel is another factor propelling growth of the target market. However, constantly changing oil prices may affect growth of the target market. Changing weather conditions is also a factor that may affect growth of the global market.
The global oilseeds market has been segmented on the basis of oilseed type, type, and region. On the basis of component, the market is segmented into peanut, soybean, sunflower seed, cottonseed, copra, palm kernel, and rapeseed. Soybean segment expected to account for major share in terms of revenue dominance in the near future, owing to high production and consumption in Latin America region and increasing demand for soybean oil in Middle East and Africa. On the basis of type, the market is segmented into conventional and genetically modified. On the basis of product, the market is segmented into edible oil and animal feed.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the highest producers of oilseeds. Asia Pacific is the second highest producer of rape seed oil and accounts for major share in terms of revenue in the global market. Increasing usage of oil for cooking purposes in households, as well as industries is a factor fueling growth of the target market in this region. Asia Pacific market is anticipated to witness high growth in terms of revenue over the forecast period.
Key players operating in the global oilseeds market include Archer-Daniels-Midland Company, Bayer CropScience Aktiengesellschaft, Burrus Seed Farms, Inc., Dow AgroSciences LLC, E. I. du Pont de Nemours and Company, Gansu Dunhuang Seed Co., Ltd., Hefei Fengle Seed Co., Ltd, Krishidhan Seeds Pvt. Ltd., KWS SAAT SE, and Syngenta AG.