Advertise with fastmoving.co.za
 
 

 The global sesame oil market reached 1,917K tonnes in 2016, expanding robustly over the last four years.
The global sesame oil market reached 1,917K tonnes in 2016, expanding robustly over the last four years.

Key insights into the global sesame seed market

INTERNATIONAL NEWS

Issued by IndexBox - Sep 11th, 13:36

According to the report "World: Sesame Oil - Market Report. Analysis And Forecast To 2025", recently published by IndexBox, the global sesame oil market reached 1,917K tonnes in 2016, expanding robustly over the last four years. In wholesale prices, the market totalled $7.5B, also undergoing a prominent expansion.  

This figure reflects the total revenue of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price).

Tanzania (42% of total consumption) remains the largest sesame oil consumer worldwide. It was followed by Myanmar (17%), China (12%), Mozambique (5%), India (5%), Japan (2%), Sudan (2%) and Turkey (2%). The other countries together accounted for approx. 14% of global consumption.

In Tanzania, sesame oil consumption expanded at an average annual rate of +31.7% over the period from 2007-2016. In the other countries, the average annual rates were as follows: Myanmar (+1.2% per year) and China (+2.1% per year).

Amongst the leading consuming countries, high levels of per capita consumption were recorded in Tanzania (15 kg per person), Myanmar (5.9 kg per person), Mozambique (3.4 kg per person), which were significantly higher than the world average of 0.3 kg per person. China (0.2 kg per person) and India (0.1 kg per person) had the lowest volumes of sesame oil consumption.

The Global Consumption of Sesame Oil is Expected to Reach 2.7M Tonnes by 2025
Sesame oil is primarily used for food purposes, such as cooking oil for frying and baking. Also, sesame oil serves as the base for salad dressings, and as an ingredient in confections, baked goods, and processed foods. Sesame oil is now used for a variety of commercial and industrial purposes besides food: as the base for common household goods such as soaps, cosmetics, toiletries, candles, paints, and even biodiesel fuels.

Sesame is popular among African farmers, due to the fact that, unlike other crops, it is well adapted to the arid climate. Tanzania remains the largest producer of sesame oil and also dominates the global consumption of this product. High consumption was noted among other major producers of sesame oil from the countries of Africa and Asia. The African and Asian regions constitute the fastest developing sesame oil markets. The steady growth in demand being observed here is in line with rising household income figures and urbanization, as well as an increase in the use of sesame oil for food products and Asian dishes.

Driven by the anticipated growth of population and income level, the demand for high-quality oil will continue to grow. On the other hand, the growing popularity of healthy eating, as well as oil use for cooking worldwide should also support sesame oil consumption over the next nine years. Therefore, market performance is predicted to grow with an anticipated CAGR of +3.8% for the next nine-year period, which is forecasted to bring the market volume to 2.7M tonnes by 2025.

Sesame Oil Production Experienced a Robust Expansion
Global production of sesame oil reached almost 1.9B tonnes in 2016, increasing tangibly over the last four years. Prior to that, it remained relatively stable from 2007 to 2012, and then the robust growth was recorded due to sesame industry expansion in Tanzania. Over the period under review, global sesame oil production attained its maximum volume in 2016 and is likely to continue its growth in the immediate term.

Tanzania Dominates Global Sesame Oil Output
Tanzania remains the key world sesame oil-producing country, with an output of about 807K tonnes in 2016, which accounted for 42% of total global output. The other major producers were Myanmar (17%), China (12%), India (5%) and Mozambique (5%). Sesame oil output in Tanzania skyrocketed from 2013-2016, boosted by rapid expansion of sesame industry in the country. Most of the major producing countries experienced a flat trend pattern with regard to sesame oil output.

Tanzania Emerged as the Fastest Growing Sesame Oil Exporter
In 2016, the volume of global exports totalled 58K tonnes, retaining the level of the previous year. This level was also 9.3K tonnes (or 14%) less than the highest level of 2014. The volume of exports has increased significantly over the period from 2013-2014, slipping in 2015 by 15%, and retaining this level in the following year.

Mexico (16% of total exports), India (14%), Japan (12%), Taiwan, Chinese (8%), Tanzania (8%), China (8%), Singapore (7%) constituted the main global suppliers of sesame oils. From 2007 to 2016, exports from Tanzania (+41.3%) increased robustly. The other countries with high paces of growth with regard to exports were India (+7.7% per year) and Singapore (+6.6% per year).

The U.S. Remains the Leading Importer of Sesame Oil
The volume of global imports totalled 64K tonnes in 2016, surging by 8% after a pronounced decline over the year before. From 2009, imports grew gradually until peaking in 2013; then it seesawed through 2016.

In 2016, the U.S. (16.1K tonnes) was the major exporter of sesame oil, with a share of 25% of total imports. It was followed by China (10%), the UK (6%), Australia (5%), Taiwan, Chinese (5%), Japan (4%), Hong Kong, Chinese (4%), and Singapore (4%).

Amongst the major importing countries, China (+15.3% per year), Taiwan, Chinese (+12.6%), Singapore (+8.5%) and Australia (+5.4%) were the fastest growing over the last nine years. The U.S. (+3.6%) and the UK (+2.0%) experienced more modest paces o growth; the other main importers had negative dynamics.

From 2007 to 2016, China (+6 percentage points), and Taiwan, Chinese (+3 percentage points) saw their shares increased in the import structure, the shares of the other countries remained relatively stable throughout the analyzed period.

 

Related News

Insights into the global oats market
18/09/2018 - 15:06
According to the report "World: Oats - Market Report. Analysis And Forecast To 2025", recently published by IndexBox, the production of oats reached 23M tonnes in 2017, fluctuating mildly over the period under review.

TFG bucks trend of entry into Australia
31/08/2018 - 08:21
TFG — the owner of Foschini, Totalsports and Markhams — expects a strong performance from its Australian business in the first half of its current financial year, outgoing CEO Doug Murray said.

SA retailers buck global trends: Vend reveals the best retail businesses to be in
23/08/2018 - 10:30
Over the past year, South Africa's independent retailers enjoyed sales volumes 25% higher than the global average, according to data from retail management software leader Vend.

Local entrepreneur wins Pick n Pay’s 2018 Small Supplier of the Year award with business growth
23/08/2018 - 09:34
Local entrepreneur Portia Mngomezulu, founder of Portia M Skin Solutions, was awarded Pick n Pay’s 2018 Small Supplier of the Year award for her business’ exceptional growth performance and job creation. The annual award recognises and rewards the company’s top performing small supplier in the country across various categories.

Shoprite faced more robberies over the past year - CEO
23/08/2018 - 09:01
Shoprite Holdings was hit by an increase in armed robberies over the past financial year, according to CEO Pieter Engelbrecht.