Global Oilseeds Market is segmented By Product Type (Soybean, Palm Kernel, Rapeseed, Sunflower, Cottonseed, Groundnut, Copra, Others), By Category (Conventional, Genetically Modified), By Application (Oilseed Meal, Vegetable Oil), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Oilseeds Market Size
Global Oilseeds Market reached USD 220.6 billion in 2022 and is expected to reach USD 340.5 billion by 2031 growing with a CAGR of 5.6% during the forecast period 2024-2031. The increasing demand and growing applications of oilseeds in various industries are driving the global oilseeds market growth.
The changing lifestyles, and shifting consumer preferences fuel the various food variety experiments. Many oilseeds are being used worldwide for different applications. For instance, in Europe, rapeseed oil, sesame oil, and other oils are preferred as dressings and marinades. The increasing consumption of edible oil and the high growth in the livestock sector influence the oilseed market positively.
The increasing applications, rising demand, new product launches, and acquisitions are driving the market growth. For instance, in December 2021, an India-based agrochemical company, Crystal Crop Protection Limited acquired the seeds business of Bayer AG, a Germany-based company that produces better oilseeds, which helps to meet consumer demand for healthy, great-tasting foods.
Oilseeds Market Summary
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Metrics |
Details |
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CAGR |
5.6% |
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Size Available for Years |
2022-2031 |
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Forecast Period |
2024-2031 |
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Data Availability |
Value (US$) |
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Segments Covered |
Product type, Category, Application, and Region |
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Regions Covered |
North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
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Fastest Growing Region |
Asia-Pacific |
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Largest Region |
North America |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other vital Insights. |
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Oilseeds Market Dynamics
Increasing Application of Oilseeds Drives the Market Growth.
The various applications of edible and non-edible oilseeds are driving the market growth. The oilseeds are used in various applications, such as an ingredient in food, cosmetics, and pet foods. The oil is extracted from the oilseeds for human consumption and usage as cooking oil in the food industry. After oil extraction from oilseeds, the nutrient-dense pulp is changed into meals or oilcake and fed to dairy farm animals. Thus these major oilseed crops are used as animal feed to enhance the product and quality of milk.
The increasing demand for biofuels in vehicles and other machinery is also boosting the oilseeds market demand due to its use in this sector. The modern use of oilseeds incorporates stains, printer inks, and paint covers. For instance, linseed oil is a different type of vegetable oil extensively used for varnishes, paints, and lubricants. Biocomposites are building materials made from soybeans. Thus, the increasing demand for oilseeds for various applications is anticipated to drive the market's growth rate.
The Availability Genetically-Modified Oilseeds Drive the Market Growth
The increased acceptance and large area under cultivation of genetically modified oilseeds crops are expected to drive the oilseeds market growth. Commercial oilseed producers widely utilize biotech traits to develop higher-yielding seeds for the most widely grown global crops. Various oilseeds such as cottonseed, soybean, rapeseed, and others are now grown in genetically modified techniques.
The various advancements in agricultural biotechnology are the critical driving factor for the global oilseeds market. They help to improve farm economics by introducing genetically modified seeds. The genetically modified crops are herbicide tolerant and insecticide-resistant and help reduce the cost of managing crop biotic stresses such as insects, weeds, and microbial pests.
Price Fluctuations Restrain the Market Growth.
The fluctuations in the price of oilseed are one the major retrain for the global oilseeds market growth. The laws of supply and demand also apply to the oilseeds market. The product price increases when the demand is more and the supply is less. Apparently, the prices fall when there is more supply than demand. Thus, price fluctuations can be hindering factors.
There is always a difference in the climatic conditions. The fluctuating weather conditions in different countries across the globe could harm the yield of oilseed crops. The declining planting rate volume and the growing duration of new plant biotechnology traits also restrain the market's growth. Moreover, government regulations and changing weather patterns will be significant challenges to market growth.
Oilseeds Market Segments
The global oilseeds market is segmented based on product type, category, application, and region.
In the Oilseeds Market, the Soybeans Segment Holds the Largest Market Share.
The global oilseeds market has been segmented by product type into soybeans, palm kernel, rapeseed, sunflower, cottonseed, groundnut, copra, and others. The soybean segment held the largest oilseed market share of 25.8% in 2022 in the oilseeds market analysis report. The various applications of soybeans are driving the largest share of this segment.
Soybeans are processed for their oil and animal feed. The soybean has a high protein and oil content and helps extract good oil. Soybean production is growing because of its demand for the production of edible oil. Soybean oil is also useful for producing biodiesel fuel. The rising demand for organic oils is increasing the segment’s growth.
Global Oilseeds Market Geographical Share
The North America Held the Largest Share of the Global Oilseeds Market.
The global oilseeds market is segmented into five parts based on geography: North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. The North American oilseeds market held the largest market share of 38.6% in 2022 in the oilseeds market analysis. The rising demand for the oilseeds is driving the market in this region.
The various developmental activities performed by the key market players, such as adopting advanced oilseed processing technologies, are boosting the market growth in this region. The rising demand for the conventional oilseeds is helping in the expansion of the North American oilseeds market. The growing use of oil for regular cooking, increasing disposable income, and expanding food processing industries are boosting the market growth.
Oilseeds Market Companies
The major global players in the market include Cargill, Archer Daniels Midland, Buhler Group, Bunge Limited, Wilmar International, Loius Dreyfus Company, AGT Food and Ingredients, CHS Inc, Cootamundra Oilseeds, and Oilseeds International.
COVID-19 Impact on Oilseeds Market
Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:
The unprecedented COVID-19 pandemic in 2020 profoundly affected the agriculture industry. Covid-19 has considerably impacted the global agriculture supply chain phases involving oilseeds production, processing, distribution, and consumption due to lockdowns and restrictions imposed by various governments.
Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence. They could impact interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.
Key Developments
- In July 2022, Corteva Agriscience, BASF and MS Technologies signed Agreement to develop next-generation Enlist E3 soybeans with the nematode-resistant soybean trait for farmers in the United States and Canada.
- In May 2022, Syngenta Canada, an agriculture company, launched new Pelta seed pelleting technology for canola, which helps optimise seed size and uniformity, enabling improved singulation planter performance.
- In May 2022, Corteva, an American agriculture chemical company, expanded its sunflower seed business in Europe with an investment of USD 14.1 million in the Afumati production facility in Romania to meet growing domestic and international demand from farmers for high-quality sunflower seeds.
Why Purchase the Report?
- To visualize the global oilseed market segmentation based on product type, category, application, and region and understand key commercial assets and players.
- Identify commercial opportunities in the market by analyzing trends and co-development.
- Excel data sheet with numerous data points of oilseed market-level with all segments.
- The PDF report includes a comprehensive market analysis after exhaustive qualitative interviews and an in-depth market study.
- Product mapping is available as Excel consists of key products of all the major market players.
The Global Oilseed Market report would provide approximately 61 tables, 58 figures and 165 Pages.
Target Audience 2024
