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.

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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

Report ID: SQMIG30H2088