USD 241.90 billion
Global Oilseeds Market Size, Share, Growth Analysis, By Type(Soybean, Rapeseed), By Application(Food, feed) - Industry Forecast 2024-2031
Report ID:
SQMIG30H2105 |
Region:
Global |
Published Date: March, 2024
Pages:
198
|
Tables:
64 |
Figures:
75
Global Oilseeds Market Insights
Global Oilseeds Market size was valued at USD 241.90 billion in 2022 and is poised to grow from USD 258.28 billion in 2023 to USD 436.19 billion by 2031, growing at a CAGR of 6.77% during the forecast period (2024-2031).
Oilseeds have become a rapidly expanding crop in the global agricultural industry due to the rising demand to meet the needs of the growing global population. However, the oilseeds market has faced turbulent times in the past few years due to supply shortages caused by changing climate conditions in major oilseed-producing countries. This volatility in supply and demand has manifested in fluctuating oilseed prices. One of the key drivers for the significant growth of the global market is the increasing demand for vegetable oil from the biodiesel sector. The shift towards reducing reliance on conventional fuels has propelled the biodiesel industry, thereby fueling the demand for vegetable oil and, consequently, oilseeds. The expansion of the global oilseed industry is expected to predominantly occur in emerging economies such as China, Brazil, India, Malaysia, and Indonesia, accounting for around two-thirds of the growth. According to the FAO Agricultural Outlook, global oilseed production is projected to increase by approximately 23% by 2020. The United States leads as the top oilseed producer, followed by Brazil, China, Argentina, India, and the European Union. The growth in oilseed production will be primarily driven by emerging economies like India, Brazil, and Eastern European nations such as Poland and Russia. Soybeans currently dominate global oilseed production, followed by rapeseed, cottonseed, groundnuts, sunflower, palm kernels, and copra. Soybeans are expected to remain the fastest-growing type of oilseed over the next five to six years, owing to their increasing utilization in meeting the demands of the expanding global population.
US Oilseeds Market is poised to grow at sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Soybean
Fastest Growth
Soybean
Growth Rate
6.77% CAGR
Global Oilseeds Market ($ Bn)
Country Share for North America Region (%)
Global Oilseeds Market By Type ($ Bn)
Global Oilseeds Market By Type (%)
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Global Oilseeds Market Segmental Analysis
Global Oilseeds Market is segmented by type, application, and region. Based on type, the market can be segmented into soybean, rapeseed, sunflower, and palm. Based on application, the market is segmented into food, feed, and industrial. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Oilseeds Market Analysis by Type
By type, the market can be segmented into soybean, rapeseed, sunflower, and palm. Soybean is a dominant oilseed in the global market. It is widely cultivated and traded due to its versatility and numerous applications. Soybean oil is one of the most consumed vegetable oils globally, finding extensive use in cooking, salad dressings, and food processing. Additionally, soybeans are a significant source of protein-rich meal used in animal feed formulations. The dominance of soybean can be attributed to its high oil content, favorable cultivation conditions, and strong demand from various industries.
Rapeseed, also known as canola, is another important oilseed in the market. Canola oil has gained popularity due to its low saturated fat content and health benefits. Rapeseed cultivation is mainly concentrated in Europe, Canada, and Australia. The demand for rapeseed oil has been steadily increasing due to the growing consumer preference for healthier cooking oils. Additionally, rapeseed meal is used as a protein-rich ingredient in animal feed formulations. While rapeseed is considered a fast-growing segment due to its expanding global demand.
Oilseeds Market Analysis by Application
By application, the market can be segmented into food, feed, and industrial. The food segment is a dominant application of oilseeds in the market. Oilseeds are extensively used for edible oil production, which is a key ingredient in cooking, frying, salad dressings, and food processing. The demand for edible oils, such as soybean oil, rapeseed/canola oil, sunflower oil, and palm oil, remains high due to the growing global population, changing dietary preferences, and the increasing consumption of processed and convenience foods. The food segment dominates the oilseeds market due to the widespread use of edible oils in various culinary applications.
The feed segment is another significant application of oilseeds in the market. Oilseeds, especially soybeans, are a valuable source of protein-rich meal used in animal feed formulations. The demand for animal protein, including meat, dairy, and aquaculture products, continues to rise globally. As a result, there is a growing need for high-quality animal feed to support livestock and poultry production. Oilseed meals provide essential nutrients and amino acids, making them an integral part of animal feed formulations. The feed segment is a dominant market for oilseeds due to the increasing demand for animal protein and the reliance on oilseed meals as a primary protein source.
Global Oilseeds Market By Type, 2023 (%)
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Global Oilseeds Market Regional Insights
North America holds a dominant position as one of the leading regions in terms of production and consumption. The United States is the key player in the North American market, emerging as the top oilseed producer in the region. The country benefits from vast agricultural land and advanced farming practices, contributing to its significant oilseed production. Soybeans are the major oilseed crop in North America, with the United States being the largest producer. The region also cultivates other oilseeds such as rapeseed, sunflower, and cottonseed. The dominance of soybeans can be attributed to their diverse applications, including animal feed, vegetable oil production, and biofuel production.
The Asia-Pacific region (APAC) is witnessing rapid growth in the global oilseeds market. APAC is home to several emerging economies, including China, India, Malaysia, Indonesia, and others, which are experiencing significant economic growth and an increasing population. This demographic shift and rising income levels contribute to the expanding demand for vegetable oils and oilseed-derived products.
Global Oilseeds Market By Region, 2024-2031
- Largest
- Fastest
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Global Oilseeds Market Dynamics
Oilseeds Market Drivers
Increasing demand for vegetable oil from the biodiesel industry
- One significant driver in the global oilseeds market is the increasing demand for vegetable oil from the biodiesel industry. The shift towards renewable energy sources and the decreasing reliance on conventional fuels have propelled the growth of the biodiesel sector. This, in turn, drives the demand for vegetable oil, which is derived from oilseeds. The biodiesel industry acts as a major factor in stimulating the growth and consumption of oilseeds globally.
Oilseeds Market Restraints
Volatility in supply caused by changing climate conditions
- A key restraint in the global oilseeds market is the volatility in supply caused by changing climate conditions. Major oilseed-producing regions have experienced adverse weather conditions, leading to supply shortages and disruptions. These climate-related challenges, such as droughts, floods, and extreme temperature variations, impact the overall production and availability of oilseeds. The resulting supply-demand imbalances contribute to price fluctuations and pose challenges for market stability. Managing and mitigating the risks associated with climate change and its impact on oilseed production is crucial for the sustainable growth of the market.
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Global Oilseeds Market Competitive Landscape
The global oilseeds market is characterized by several players striving to gain a significant market share. Numerous companies, both large-scale multinational corporations and regional players, operate in the market. These companies engage in activities such as cultivation, processing, and distribution of oilseeds and their derived products. Market players focus on strategic initiatives like product innovations, partnerships, and mergers and acquisitions to enhance their market presence and expand their customer base. Additionally, market participants invest in research and development activities to improve crop yields, sustainability, and overall product quality to stay competitive in the market.
Oilseeds Market Top Player’s Company Profiles
- Cargill (US)
- Bunge Limited (US)
- Archer Daniels Midland Company (US)
- Wilmar International Limited (Singapore)
- Louis Dreyfus Company (Netherlands)
- COFCO International (China)
- CHS Inc. (US)
- Richardson International Limited (Canada)
- AGT Food and Ingredients Inc. (Canada)
- Marico Limited (India)
- Nidera (Netherlands)
- Sodrugestvo Group (Luxembourg)
- Ruchi Soya Industries Limited (India)
- Sime Darby Plantation Berhad (Malaysia)
- GrainCorp Limited (Australia)
- ADM Agro Industries India Private Limited (India)
- Buhler Group (Switzerland)
- Nisshin Oillio Group, Ltd. (Japan)
- IOI Corporation Berhad (Malaysia)
- BRF S.A. (Brazil)
Oilseeds Market Recent Development
- In July 2023, BASF added 11 new high-yielding varieties to its Xitavo soybean seed line for the 2024 growing season. These varieties use Enlist E3 technology to help manage challenging weeds.
- Hyola Defender CT and Hayola Continuum CL are two new canola hybrid cultivars that Pacific Seeds, an Advanta Seeds affiliate, brought to the Australian market in July 2023. These cultivars have good disease resistance, increased oil content, improved weed control adaptability, and high yield performance.Hyola Defender CT and Hayola Continuum CL are two new canola hybrid cultivars that Pacific Seeds, an Advanta Seeds affiliate, brought to the Australian market in July 2023. These cultivars have good disease resistance, increased oil content, improved weed control adaptability, and high yield performance.
- In June 2023, Syngenta Seeds introduced "Silverline," a new conventional soybean brand, to the Canadian market. Both NK-treated and high-protein soybean genotypes are available under this brand.
- In April 2023, Cargill invested $200 million in expanding its soybean processing facility in Kansas, USA, to enhance its capacity for producing soy protein ingredients and meet the rising demand.
- In March 2023, Bunge Limited partnered with BP to develop a renewable diesel plant in Brazil, utilizing soybean oil and other vegetable oils as feedstock for producing low-carbon fuels.
- In January 2023, Archer Daniels Midland Company (ADM) announced a partnership with Evershining International Trading Co. to expand its soybean processing capabilities in China, tapping into the growing demand for soy products in the region.
Global Oilseeds Key Market Trends
- One key trend in the global oilseeds market is the increasing focus on sustainable and responsible sourcing practices. Consumers and stakeholders are becoming more aware of environmental and social impacts associated with oilseed production. This has led to a growing demand for responsibly sourced and traceable oilseeds. Market players are adopting sustainable farming methods, promoting biodiversity, reducing the use of pesticides, and ensuring fair labor practices. This trend reflects the industry's commitment to environmental stewardship and meeting consumer expectations for ethically sourced and environmentally friendly oilseed products.
Global Oilseeds 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 by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global oilseeds market analysis, the market is experiencing significant growth driven by the increasing demand for vegetable oil, particularly from the biodiesel industry. However, the market faces challenges due to the volatile supply caused by changing climate conditions, which leads to price fluctuations. The competitive landscape comprises numerous players striving to gain market share through strategic initiatives and product innovations. The industry is witnessing a trend towards sustainable and responsible sourcing practices to meet consumer demands for ethically sourced and environmentally friendly oilseeds. The market is dominated by key players, and emerging economies in APAC, such as China and India, are expected to contribute significantly to the market's expansion.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 241.90 billion |
| Market size value in 2031 | USD 436.19 billion |
| Growth Rate | 6.77% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| 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 |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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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 Global Oilseeds 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
- Exhibit: Impact analysis of DROC, 2021
- 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 Global Oilseeds 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
- Exhibit: Impact analysis of DROC, 2021
- 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
- Competitive rivalry
- 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(%)
- Total number of companies covered
Methodology
For the Global Oilseeds 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 Global Oilseeds 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 Global Oilseeds Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Oilseeds 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.
Global Oilseeds Market Report Snapshots
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