Oilseeds Market Size, Share, Growth Analysis, By Type(Soybean, Rapeseed), By Application(Food, feed) - Industry Forecast 2024-2031

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).

The 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. '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)'

One significant driver in the 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.

One key trend in the 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.

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.