The global cottonseed oil market size is poised to grow by 782.02 K tons during 2020-2024, progressing at a CAGR of almost 3% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Cottonseed Oil Market 2020-2024 (Graphic: Business Wire)
Cottonseed oil has a high smoke point and a neutral taste and is used for deep frying and baking. Cottonseed oil is also a significant ingredient in whipped toppings, margarine, shortenings, spreads, and icings due to its ability to form a beta prime crystal, which enables a consistent texture and appearance. Cottonseed oil is also used for various applications in the cosmetic industry and products such as soaps, cosmetics, and detergents. The increased usage of cottonseed oil across various industries will be one of the major factors that will fuel the growth of this global market.
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The major cottonseed oil market growth came from GM cottonseed oil segment. This segment accounted for the largest market share in 2019. However, due to factors such as the increasing concern among the consumers about the harmful effects of GM cottonseed oil, the forecast period will witness a decrease in the segment’s cottonseed oil market share.
APAC was the largest cottonseed oil market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the increasing use of biodiesel will significantly drive cottonseed oil market growth in this region over the forecast period.
The global cottonseed oil market is fragmented. Archer Daniels Midland Co., Bunge Ltd., Cargill Inc., Henry Lamotte Oils GmbH, ITOCHU Corp., Marico Ltd., PYCO Industries, Ruchi Soya Industries Ltd., Vimal Oil & Foods Ltd., and Wilmar International Ltd. are some of the major market participants. To help clients improve their market position, this cottonseed oil market forecast report provides a detailed analysis of the market leaders.
As the business impact of COVID-19 spreads, the global cottonseed oil market 2020-2024 is expected to have Positive and Superior. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/cottonseed-oil-market-industry-analysis
Growing Popularity of Organic Cottonseed Oil will be a Key Market Trend
The growing popularity of organic cottonseed oil is one of the key cottonseed oil market trends that will influence market growth. There is an increasing awareness among consumers about the benefits of organic food, and this is resulting in the increased consumption of