Global Oilseeds Market - 2021-2028
発行: DataM Intelligence
ページ情報: 英文 180 Pages
Oilseeds are the type of seeds which are planted for the production of edible oils. Some of the oilseed's examples are sunflower, soybean, canola, groundnut, linseed, castor, sesamum, soybean and cotton seeds. Some of the various industries which find its applications are food, biofuel and oleochemicals. Some oilseeds contain high concentrations of energy and moderate concentrations of protein and fiber.
Oilseeds like soyabean and sunflower are used as cooking medium as they are edible, good for healthy digestion and an essential source of fatty acids. Some of them are used as raw materials used for the production of cosmetics, soap and ointments. Increased crushing of oilseeds into meal (cake) and oil will continue to dominate demand. According to FAO (Food and Agricultural Organisation) overall, 91% of world soybean output and 87% of world production of other oilseeds are projected to be crushed by 2029.
As the population and standard of living is expected to grow, so is the demand for oilseeds in the forecast period (2021-2028). For instance, according to FAO, November 2020 report, India, the number one importer of vegetable oil which includes palm kernel, coconut and cottonseed oil in the world, is projected to maintain a high import growth of 3.2% p.a. due to a growing population and higher incomes around the world. In Egypt, for the year 2021, the sunflower seed consumption is expected to increase 11.11 % from the previous year and according to USDA (United States Department of Agriculture) the rise is attributed to growth of population.
According to OECD (Organisation for Economic Co-operation and Development)2020, vegetable oil production is projected to increase globally by 1.4% p.a., which is a relatively higher demand, driven mainly by food demand in developing countries resulting from population and income growth.
The companies are focusing on expanding the facilities. For instance, in May 2019, ADM had created the new Ag Services and Oilseeds unit.
In September 2018, Louis Dreyfus Company had opened a new oilseeds processing plant. It has the capacity of a soybean crushing capacity of 4,000 tons and a daily oil refining capacity of 1,200 tons. Soybean has the highest market share among all the other oilseeds. The plant would bolster LDC's supply of soybean meal, crude soybean oil, and refined edible vegetable oil to meet the needs of partners and consumers in China.
However, the fluctuations in the price of oilseed are hindering the market growth. The fluctuating weather conditions in different countries across the globe could harm the yield of oilseed crops.
According to FAO (Food and Agricultural Organisation), the international prices of oilseeds and derived products after experiencing an upward trajectory till mid-2020, continued rising steadily into the 2020/21 season (October/ September), despite uncertainties concerning the impact of COVID-19 on global demand. And in May 2021 FAO's price indices for oilseeds, oilmeals and vegetable oils were distinctly above their previous year levels. Thus, the market has not responded as was predicted with the global crisis as a restraint.
The global oilseeds market is segmented based on product type as soybean, sunflower, cottonseed, palm kernel, groundnut, rapeseed, copra, and others. The soybean segment accounts for the highest market share due to the increased usage of the soybeans for the production of edible oil, fatty acids, soaps, biodiesels, and animal feed.
Soybeans are processed for their oil and animal feed. It is also processed for producing various products including soy milk, soy flour, soy protein, tofu for human consumption. The Baked bread, crackers, cakes, cookies, and pies also have soybean oil in them. Soybean oil is also useful for the production of biodiesel fuel for diesel engines through the process i.e. transesterification that involves the removal of the glycerine from the oil and leaving the soy biodiesel. Bio composites are building materials made from soybeans.
According to FAO 2020 report, global soybean production is expected to continue to grow at 1.3% p.a., with the expansion of area harvested accounting for about a third of global output growth. Brazil is expected to be the world's largest producer, with domestic output projected to reach 140 Mt by 2029, , ahead of the United States with a projected production of 120 Mt by 2029. Together, these countries are expected to account for about two-thirds of world soybean production.
The sunflower segment is expected to grow at the high CAGR as it is one of the largest produced oilseeds as the sunflower seeds are the rich source of the B complex vitamins, phosphorus, magnesium, iron, potassium, vitamin E, protein, calcium, carbohydrate, and ash. The sunflower seeds are rich in oil i.e., healthy form of plant oil that provides polyunsaturated fats. There is growing consumption of sunflower seeds as the sunflower meal for the feed industry. It is being used as a substitute for soybean meal.
By region, the global oilseeds market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, North America dominated the global oilseeds market in to the forecasted period owing to the high demand for oilseeds because of the presence of favourable trade and price support systems.
According to FAO, Jan 2021 report, In the state of Montana, USA oilseed growers, industry stakeholders and the Department of Agriculture are deciding to establish 1% checkoff for rapeseed, flaxseed, mustard, safflower, soybeans and sunflower crops, with a view to fund sector specific research activities as well as market development and education programmes.
There is rising consumption of vegetable oil for the production of biodiesel. Oilseeds are widely used for producing skincare and body care products. The growing shift towards the decreasing reliance on conventional fuel shall boost the demand for the oilseeds. The United States accounts for the highest market share as the United States is one of the leading producers of the oilseed. There is the adoption of advanced oilseed processing technologies.
U.S.A.' s one of the biggest exports to China is soybean and according to World Bank, 2021 report China's need for soybean and other oilseeds is increasing owing to its demand for animal feed as the country rebuilds its hog population after its bout of African swine fever. Thus, it is one of the factors for the domination of North America in the forecast period.
The global oilseeds market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities act as barrier to new entrants. Cargill, Buhler Group, Bunge Limited, Wilmar International, Loius Dreyfus Company, AGT Food and Ingredients, CHS Inc, and Oilseeds International are the leading market players with significant market share.
The major players are using several strategies such as product development, novel product launches, market expansion, product diversification collaborations, mergers, strategic partnerships, and acquisitions for increasing the demand for oilseeds and their expansion across the globe. For instance, in 2020 Phoenix Global acquired Cargill's Venezuela operations. Cargill's Venezuelan operations among other things also includes the production cooking oil, and animal feed.
Another instance, in July 2019, Perdue AgriBusiness L.L.C. had acquired the assets of Hart AgStrong L.L.C. This acquisition includes the two-oilseed expeller crushing facilities in Bowersville, Ga., and Trenton, Ky., processing organic and non-G.M.O. soybeans, HEAR (high erucic acid rapeseed), canola, and high oleic sunflower, as well as an organic specialty oil refinery at the Bowersville facility.
There are new entrants in the market for instance, in 2020 Amul in India entered the edible oils business with the launch of Janmay brand in Gujarat. India is the world's largest importer of edible oils and spends around Rs 75,000 crore annually on edible oils import.
Cargill is an American privately held global food corporation based in Minnetonka, Minnesota, and incorporated in Wilmington, Delaware. Founded in 1865, it is the largest privately held corporation in the United States in terms of revenue. If it were a public company, it would rank, as of 2015, number 15 on the Fortune 500, behind McKesson and ahead of AT&T. Cargill has more than 150,000 employees and serves customers in 125 countries.