The global oilseeds market size was valued at $244,115.9 million in 2020, and is estimated to reach $382,474.0 million by 2031, registering a CAGR of 4.1% from 2022 to 2031.
Copra, cottonseed, palm kernel, peanut, rapeseed, soybean, and sunflower seeds are primarily cultivated for obtaining oil. The oil extracted from oilseeds is used in food products for human consumption, whereas the residue is used as animal feed. The edible oil extracted from oilseeds is used as a feedstock for biodiesel production. The major factors driving the market growth are increased consumption of soybean and its high production in the developing countries such as, Brazil, Argentina, and others. In addition, increased acceptance and large area under cultivation of genetically modified (GM) oilseeds are anticipated to supplement the oilseeds market growth.Biotech traits are being widely utilized by commercial oilseed producers to develop higher yielding seeds for the most widely grown global crops, which include soybean, cottonseed, rapeseed, and others. Advancement in agricultural biotechnology is the key driver for improving farm economics by introducing genetically modified (GM) seeds with traits that reduce the cost of managing crop biotic stresses such as weeds, insects, and microbial pests. Biotech traits such as herbicide tolerance and insect resistance have considerably been commercialized, which has led to significant crop protection, leading to an increase in seed value and growth of the oilseeds market.
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With an unprecedented COVID-19 pandemic, demand for oilseeds has witnessed a rise, owing to increase in production of the oilseeds and demand for edible oil from household. In addition, with the dynamic changes in consumption pattern, people replaced food service consumption with home cooking where editable oil is used predominantly. Export and import of the oilseeds was significantly increased due to unprecedented demand for oilseeds.
According to the oilseeds market analysis, the oilseeds market is segmented into oilseed types, product, breeding type, biotech trait and region. On the basis of oilseed type, the market is categorized into copra, cottonseed, palm kernel, peanut, rapeseed, soybean and sunflower seed. By product, it is bifurcated into animal feed and edible oil. Depending on breeding type, it is segregated into genetically modified and conventional. On the basis of biotech trait, market is bifurcated into herbicide tolerant, insecticide resistant and other stacked trait. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, Netherlands, Spain, France, Italy, UK, Russia, Ukraine and Rest of Europe), Asia-Pacific (China, India, Japan, Indonesia, South Korea and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Paraguay, South Africa and Rest of LAMEA).
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The players operating in the global oilseeds industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Archer Daniels Midland Company, BASF SE, Bayer AG, Burrus Seed Farms, Inc, Cargill Incorporated, Corteva Agriscience, Gansu Dunhuang Seed Industry Group Co., Ltd., KWS SAAT SE & Co., Mahyco Seeds Ltd and Syngenta Crop Protection AG.
Key Benefits For Stakeholders
- The report provides a quantitative analysis of the current trends, estimations, and dynamics of the market size from 2020-2031 to identify the prevailing opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis and the market size and segmentation assist to determine the prevailing market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the market.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the Oilseeds market.
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