Major companies in the oilseed farming market include Burrus Seed farm; Gansu Dunhuang Seed Co Ltd; Hefei Fengle Seed Co Ltd; Land O’Lakes Inc and Diester Industrie. The global oilseed farming market is expected to grow from $369.
New York, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Oilseed Farming Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06018817/?utm_source=GNW
12 billion in 2020 to $390.7 billion in 2021 at a compound annual growth rate (CAGR) of 5.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $519.28 billion in 2025 at a CAGR of 7%.
The oilseed farming market consists of sales of oilseeds by entities (organizations, sole traders and partnerships) that produce oilseed crops including soybeans, sunflower seeds, rapeseeds, sesame seeds and other oilseeds. These crops are typically grown in open fields and have an annual growth cycle. This market excludes processed oilseed products such as refined and unrefined vegetable oils and oilseed extracts. This market also excludes the proceeds from the captive (internal) consumption of the seeds for further processing. The oilseed farming market is segmented into soybean farming and other oilseed farming.
Asia Pacific was the largest region in the global oilseed farming market, accounting for 42% of the market in 2020. South America was the second largest region accounting for 17% of the global oilseed farming market. Eastern Europe was the smallest region in the global oilseed farming market.
Big data farming, also known as precision farming, is being widely being used in several developed countries to make oilseed production more efficient. Precision agriculture collects real time data on weather, soil and air quality, crop maturity, equipment, labor costs and availability to carry out agriculture activities. Farmers use these techniques to determine the amount of nutrients, water, seed and other inputs required to produce a wide range of oilseed crops on diverse soil environments, thereby increasing farm and crop yield.
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