Latin America Oilseed Market was worth USD xx billion in 2021 and is projected to grow at a CAGR of xx%, to reach USD xx billion by 2026.
The seeds of a plant when used as a source of vegetable oil are called oilseeds. Though oil can be extracted from many parts of the plant, seeds are primarily used for commercial purposes. Oil is extracted from seeds by a machine known as oilseed press. Over the course of time, several oilseed presses are designed to improve the efficiency and making the process cost effective.
Vegetable oils are generally used as ingredients in food to improve the texture and to impart certain flavors. Some of the oils with high flash point such as sunflower oil and soybean oil are used as cooking oils. Apart from its applications in cooking, vegetable oils are used in making soaps, perfumes and cosmetic products. They are also used as bio fuels and in the manufacture of some pet foods.
Drivers and Restraints of Latin America Oilseed Market:
Increase in the consumption of vegetable oils for cooking purposes and growing food industry are the major factors driving the oilseed market. Reduction in prices due to the new processing equipment and development of effective extraction process, high penetration of retail and wholesale distribution channels in rural as well as urban areas are propelling the oilseed market. Stringent government regulations on manufacturing and exports and loopholes in distribution channels are restraining the growth of the market.
Latin America Oilseed Market - By Type:
Rapeseed
Soybean leads the oilseed market and it is also expected to be the fastest growing market segment. It is due to its higher production and increased demand for household consumption.
Latin America Oilseed Market - By Application:
Household consumption is the largest application of oilseeds and due to the rapidly growing food service industry. Food service application is the fastest growing market segment. Also, due to the increasing focus on alternate fuel sources, use of vegetable oils as bio fuels is rising significantly. Based on biotech trait, the market is categorized into Insecticide resistant, herbicide tolerant and other traits.
Regional Analysis:
On the basis of region, the Latin America Oilseed market is segmented into Brazil, Argentina, Mexico and Rest of South America. Brazil is the largest producer of oilseeds in this region and hence it holds the largest market share. Argentina also contribute significantly to the oilseeds market.
Key Players:
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