Global Oilseed Market

Oilseed Market Size, Share, Growth Analysis, By Biotech Traits(Insecticide-Resistant, Herbicide-Tolerant and other stacked traits), By Oilseed Type(Peanut, Soybean, Sunflower Seed, Cottonseed), By Breeding Type(Edible Oil and Animal Feed), By Product(Business to Business, Hypermarkets/Supermarkets, Specialty Stores, Convenience store and Online retail), By Distribution Channel(Food Industry, Personal Care and Cosmetic, Pharmaceuticals, Foodservice), By Region - Industry Forecast 2024-2031


Report ID: SQMIG30H2088 | Region: Global | Published Date: February, 2024
Pages: 230 |Tables: 148 |Figures: 78

Oilseed Market Insights

Oilseed Market size was valued at USD 247.81 billion in 2019 and is poised to grow from USD 268.13 billion in 2023 to USD 503.69 billion by 2031, growing at a CAGR of 8.2% in the forecast period (2024-2031).

Oilseeds are seeds primarily grown for the extraction of edible oil for human use. The main source of the omega 3 fatty acids DHA and EPA, which have several health advantages, is oilseed crops. Erucic acid, a naturally occurring contaminant in oilseeds, affects both rapeseed and mustard. The main oilseed crops are helianthus annuus (sunflower), soybeans, rapeseed, and others. Due to the inclusion of essential macro- and micronutrients, oil seeds and legumes are significant dietary components to prevent chronic illness. With the use of mechanical and manual processing tools, oil seeds are extracted. Due to the rising need for alternative energy sources, oil seeds are being utilized to produce biofuels.

Oil is largely produced through the cultivation of copra, cottonseed, palm kernel, peanut, rapeseed, soybean, and sunflower seeds. People utilize these oilseeds because they are good for their health, they produce revenue, and they create jobs. These crops may be used in a wide range of different industrial sectors, including food, medicines, and cosmetics, and are not only confined to home usage. In contrast to the residue, which is utilised as animal feed, the oil produced from oilseeds is used in food items for human consumption. Oilseeds were traditionally farmed primarily for the extraction of culinary oils, but in recent years, their industrial application has garnered increased attention. The most expensive commodity traded worldwide is vegetable oil. Oilseeds are expected to augment the market due to their rising popularity and extensive cultivation area.

US Oilseed Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 247.81 billion

Largest Segment

Soybean

Fastest Growth

Soybean

Growth Rate

8.2% CAGR

Global Oilseed Market ($ Bn)
Country Share for North America Region (%)

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Oilseed Market Segmental Analysis

Global Oilseed Market is segmented based on the biotech trait, oilseed type, breeding type, product, distribution channel, end use and region. Based on biotech trait, the Market is bifurcated into Insecticide-Resistant and Herbicide-Tolerant. Based on Type, the market is segmented into Peanut, Soybean, Sunflower Seed, Cottonseed, Copra, Palm Kernel and Rapeseed. According to breeding type it is bifurcated into Conventional and Genetically Modified. On the basis of product it is bifurcated into edible oil and animal feed. According to distribution channel the market is sub segmented into business to business, Hypermarkets/Supermarkets, Specialty Stores, Convenience store and Online retail. According to application the market is sub segmented into Food Industry, Personal Care and Cosmetic, Pharmaceuticals, Foodservice, Household/Retail, Biofuels and others. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Oilseed Market Analysis by Oilseed Type

The Soybean segment in terms of volume and value, dominated the oilseed market in 2021. Fiber, protein, and cholesterol are all present in soybean. Consumption of soybean oil has grown as a consequence of the daily rise in health-conscious people. Because of the nutritional benefits of soybeans, the demand for them in the food business has grown over time. This has led to an increase in the production of soybean oil, which in turn has fueled the expansion of the oilseed market. Due to the high demand for animal feed, particularly in emerging economies like China, Brazil, India, Korea, and others, where the average consumer can afford to eat more meat due to the rapid rise in standard of living, the world's soybean production has increased and is predicted to continue to grow. Additionally, a sizable demand for soybean-based vegetable oil as a biodiesel feedstock is predicted to increase soybean output, propelling the expansion of the soybean industry.

The sunflower segment is anticipated to grow at the fastest CAGR throughout the forecast period. This is due to its extensive use in the manufacture of biofuel, it is a rich source of oil, protein, calcium, carbohydrates, and ash. Sunflower oil is also widely eaten by the populace due to its high nutritional value and health advantages since it includes omega-6 fatty acids. Sunflower seeds are utilised in the feed sector in powdered form, which increases demand for the sunflower oilseed market. Sunflower meal, made from sunflower seeds, is widely used in the feed business and is increasingly used in place of soybean meal because it is more expensive.

Oilseed Market Analysis by Breeding type

The conventional segment dominated the Global Oilseed Market in 2021 and is expected to maintain its dominance during the forecast period. Conventional oilseeds are seeds that are generated by plant pollination in the wild and are easily accessible. To generate the maximum potential crop yields, these oilseeds make extensive use of energy and chemicals. Despite the fact that traditional agriculture was used to enhance productivity in response to rising food demand, doing so degrades soil quality and has a negative impact on the environment. The market for conventional oilseeds is anticipated to increase globally due to factors including product innovation and the upgrading of conventional agricultural practices. As it improves soil quality, restores nitrogen, and reduces pollution levels in soil, air, and other water resources, it is also environmentally benign. Demand for conventional oilseeds has increased as a result of customers' growing desire for healthy, organic goods.

The segment for genetically modified oilseeds is expected to register a substantial CAGR during the forecast period. The adoption of genetically modified (GM) oilseeds has been greatly aided by advancements in agricultural biotechnology. Managing crop biotic stressors including weeds, insects, and microbiological pests is less expensive when using GM seeds. Oilseeds with insect resistance, herbicide tolerance, and other stacking traits have caused the industry to expand quickly.

Global Oilseed Market By Oilseed Type, 2023 (%)

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Oilseed Market Regional Insights

North America region held the highest share in the Global Oilseed Market of approximately 35% globally in 2021. This is because more cooking oil is being used in everyday cooking, which boosts the production of oilseeds. Additionally, as soybean output has expanded in the United States, the market is growing faster due to the rise in consumption of soybean oil. The top producer and second-largest exporter of soybeans worldwide is the United States. About 90% of the oilseeds produced in the US are soybeans. The North American oilseed market is expected to increase as a result of a number of reasons, such as the use of cutting-edge technology for crop cultivation and processing, rising soybean output, and rising consumer interest in oilseed goods.

Asia pacific region is expected to register the highest growth rate during the forecast period. This can be attributed to the rising soybean yield and the expanding food manufacturing sector. The increased usage of soybean oil fuels the market's expansion. Additionally, other significant elements promoting the expansion of this region include rising personal disposable income, expanding food processing, and expanding retail. China now consumes the most oilseeds, making up about two-sevenths of the worldwide market in terms of volume, and it is anticipated that it will continue to lead the industry during the projected period. The highest growth rate in the Asia-Pacific area is predicted for India. The fourth-largest producer of oilseeds is regarded as India. Additionally, 95% of all crops farmed in India are soybeans, making them the most significant crop in terms of importance.

Global Oilseed Market By Region, 2024-2031
  • Largest
  • Fastest

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Oilseed Market Dynamics

Oilseed Market Drivers

Health Advantages of Oilseed to Bolster Its Demand during Forecast Year

  • The market for oilseeds is anticipated to expand due to their health advantages. The oilseed is used in many sectors because it is rich in vital fatty acids, including linoleic acid, vitamins, and several other beneficial nutrients.
  • Cooking oil is made from oilseeds, and they are also utilized as a cosmetic ingredient, an advantageous component in many pet foods, and a cosmetic actives. Skincare and body care products made from several oilseeds are utilised in the cosmetic sector. Printer inks, varnishes, and paint binders are a few examples of how oilseed is used commercially. The worldwide oilseed market would see more demand for oilseed if there was greater demand for biofuels in machines and other transportation.
  • Due to a number of variables, including rising edible oil consumption and rapid expansion in the cattle industry, the oilseed market has seen good overall trends. The demand for the oilseed market is being driven by a change in lifestyle, followed by a change in dietary preferences and an exploration of several new food kinds.
  • The government's increasing efforts to promote the agricultural sector and the rising demand for chemical-free and organic oil, particularly in emerging nations, will open up more profitable and rewarding development potential for the industry.

Oilseed Market Restraints

Lack of Infrastructure to Hinder Market Growth

  • Unfavourable and unpredictable weather is a significant element that will provide a significant obstacle to the market's growth. The market development rate will also be slowed down by a lack of necessary infrastructure, changes in the price of raw commodities like oil, and a lack of technical expertise, particularly in less developed nations. The government's strict limitations on the production of vegetable oils would also slow the market's expansion.

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Oilseed Market Competitive Landscape

Global Oilseed Market is highly competitive and fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies such as innovations, mergers, and acquisitions, collaborations and partnerships. Prominent players include Archer Daniels Midland Company, Burrus Seed Farms, Inc, Cargill Incorporated and Corteva Agriscience among others. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.

Oilseed Market Top Player's Company Profiles

  • Archer Daniels Midland Company
  • Bunge Limited
  • Cargill, Inc.
  • Louis Dreyfus Company B.V.
  • Wilmar International Limited
  • CHS Inc.
  • AGT Food and Ingredients Inc.
  • Richardson International Limited
  • Marico Limited
  • COFCO Corporation
  • Olam International Limited
  • Ruchi Soya Industries Limited
  • The Scoular Company
  • Borges International Group S.L.
  • SunOpta Inc.
  • Kerry Group plc
  • H. J. Heinz Company
  • ConAgra Foods, Inc.
  • The J. M. Smucker Company
  • Del Monte Pacific Limited

Oilseed Market Recent Developments

  • In October 2022, Bunge North America Inc., a subsidiary of Bunge Limited, is to invest $445 million in the expansion of its Morristown processing facility. At its soybean crushing facility at 700 N. Range Line Road, the agribusiness and food giant intends to spend $360 million on new gear and equipment in addition to an estimated $85 million on construction and building renovations.
  • In August 2022, Corteva Agriscience and BASF Agricultural Solutions have come to an agreement to create soybeans that are future herbicide-tolerant and complementary herbicides for farmers in North America and beyond. The partnership intends to deliver competitive options to manage resistant and difficult-to-control weeds using creative trait stacking and robust, long-lasting modes of action. Farmers will profit from the expanded weed control options and superior germplasm possibilities offered by the Corteva and BASF seed brands.

Oilseed Key Market Trends

  • Biodiesel is a substitute for diesel fuel that is made from animal fats, discarded cooking oil, or vegetable oils. Due to its renewability, biodegradability, low emission profile, nontoxic nature, and high flash point, biodiesel is really and financially more focused than regular diesel. Numerous oilseed crops and animal fats can be used to make biodiesel. It is believed that a variety of both traditional (sunflower, safflower; soybean, cottonseed, rapeseed, and palm) and unconventional (jatropha and moringa) oil crops provide good diesel fuel. Mustard, a relative of rapeseed and canola, has also demonstrated to be a superior cover crop with strong potential as a feedstock for biodiesel. Although both safflower and sunflower generate oil that may be used to make biodiesel, both oils are often more highly valued as high-quality cooking oils. In some regions of the world, tropical oilseed plants like oil palm and coconut are utilised as feedstocks for biodiesel production. Research is also being done on other warm temperature feedstocks, including jatropha, croton, candlenut, and tallow tree. Several plants, in addition to the primary oilseed crops, are now being investigated as feedstocks for biodiesel. Two mustard relatives that have potential as oilseed crops are lesquerella and pennycress. If existing disease issues can be resolved, hazelnuts might prove to be a profitable new fuel for biodiesel.

Oilseed Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our Global Oilseed Market analysis, the demand for healthful and organic oilseed-processed products, public-private partnerships in varietal development, and molecular breeding in oilseeds are all factors contributing to the growth of the oilseeds industry. Due to the use of oil in daily life, there is an increase in demand for oil in the food industry. Additionally, a significant portion of the population cooks using edible oil, which is used to prepare a wide range of food items. This reason motivates producers to provide a variety of edible oils that boost the food industry's expansion.

Report Metric Details
Market size value in 2023 USD 247.81 billion
Market size value in 2031 USD 503.69 billion
Growth Rate 8.2%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Biotech Traits
    • Insecticide-Resistant, Herbicide-Tolerant and other stacked traits
  • Oilseed Type
    • Peanut, Soybean, Sunflower Seed, Cottonseed, Copra, Palm Kernel and Rapeseed
  • Breeding Type
    • Edible Oil and Animal Feed
  • Product
    • Business to Business, Hypermarkets/Supermarkets, Specialty Stores, Convenience store and Online retail
  • Distribution Channel
    • Food Industry, Personal Care and Cosmetic, Pharmaceuticals, Foodservice, Household/Retail, Biofuels and others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Archer Daniels Midland Company
  • Bunge Limited
  • Cargill, Inc.
  • Louis Dreyfus Company B.V.
  • Wilmar International Limited
  • CHS Inc.
  • AGT Food and Ingredients Inc.
  • Richardson International Limited
  • Marico Limited
  • COFCO Corporation
  • Olam International Limited
  • Ruchi Soya Industries Limited
  • The Scoular Company
  • Borges International Group S.L.
  • SunOpta Inc.
  • Kerry Group plc
  • H. J. Heinz Company
  • ConAgra Foods, Inc.
  • The J. M. Smucker Company
  • Del Monte Pacific Limited
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Oilseed Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Oilseed Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Oilseed Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Oilseed Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Oilseed Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Oilseed Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Oilseed Market size was valued at USD 247.81 billion in 2019 and is poised to grow from USD 268.13 billion in 2023 to USD 503.69 billion by 2031, growing at a CAGR of 8.2% in the forecast period (2024-2031).

Oilseed Market is highly competitive and fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies such as innovations, mergers, and acquisitions, collaborations and partnerships. Prominent players include Archer Daniels Midland Company, Burrus Seed Farms, Inc, Cargill Incorporated and Corteva Agriscience among others. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Archer Daniels Midland Company', 'Bunge Limited', 'Cargill, Inc.', 'Louis Dreyfus Company B.V.', 'Wilmar International Limited', 'CHS Inc.', 'AGT Food and Ingredients Inc.', 'Richardson International Limited', 'Marico Limited', 'COFCO Corporation', 'Olam International Limited', 'Ruchi Soya Industries Limited', 'The Scoular Company', 'Borges International Group S.L.', 'SunOpta Inc.', 'Kerry Group plc', 'H. J. Heinz Company', 'ConAgra Foods, Inc.', 'The J. M. Smucker Company', 'Del Monte Pacific Limited'

The market for oilseeds is anticipated to expand due to their health advantages. The oilseed is used in many sectors because it is rich in vital fatty acids, including linoleic acid, vitamins, and several other beneficial nutrients.

Biodiesel is a substitute for diesel fuel that is made from animal fats, discarded cooking oil, or vegetable oils. Due to its renewability, biodegradability, low emission profile, nontoxic nature, and high flash point, biodiesel is really and financially more focused than regular diesel. Numerous oilseed crops and animal fats can be used to make biodiesel. It is believed that a variety of both traditional (sunflower, safflower; soybean, cottonseed, rapeseed, and palm) and unconventional (jatropha and moringa) oil crops provide good diesel fuel. Mustard, a relative of rapeseed and canola, has also demonstrated to be a superior cover crop with strong potential as a feedstock for biodiesel. Although both safflower and sunflower generate oil that may be used to make biodiesel, both oils are often more highly valued as high-quality cooking oils. In some regions of the world, tropical oilseed plants like oil palm and coconut are utilised as feedstocks for biodiesel production. Research is also being done on other warm temperature feedstocks, including jatropha, croton, candlenut, and tallow tree. Several plants, in addition to the primary oilseed crops, are now being investigated as feedstocks for biodiesel. Two mustard relatives that have potential as oilseed crops are lesquerella and pennycress. If existing disease issues can be resolved, hazelnuts might prove to be a profitable new fuel for biodiesel.

North America region held the highest share in the Oilseed Market of approximately 35% globally in 2021. This is because more cooking oil is being used in everyday cooking, which boosts the production of oilseeds. Additionally, as soybean output has expanded in the United States, the market is growing faster due to the rise in consumption of soybean oil. The top producer and second-largest exporter of soybeans worldwide is the United States. About 90% of the oilseeds produced in the US are soybeans. The North American oilseed market is expected to increase as a result of a number of reasons, such as the use of cutting-edge technology for crop cultivation and processing, rising soybean output, and rising consumer interest in oilseed goods.

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Global Oilseed Market

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