Oilseeds Market Report by Size, Growth Value, Industry Segmentation, Demand By Outlook, 2031

Oilseeds Market

The edible oil extracted from oilseeds is used as a feedstock for biodiesel production.

WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, February 16, 2024 /EINPresswire.com/ -- 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.

In 2020, the soybean segment accounted for approximately half of the share of the global market, in terms of revenue, and approximately three-fifths share in terms of volume. Oil seeds are crops or seeds cultivated for the extraction of edible oil for households and industrial purposes. The edible oil produced from oilseeds is used as feedstock for biodiesels production. The residual content of oilseeds is called as oil cake, and is used as animal feed. Copra, cottonseed, palm kernel, peanut, rapeseed, soybean, and sunflower seed are the major oilseeds used for extraction of oil.

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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.

Advancement in agricultural biotechnology has led to wider acceptance of genetically modified (GM) seeds, thereby increasing the area under cultivation of GM seeds across the globe. This helped to reduce the expenses to manage crop biotic stresses, such as weeds, insects, and microbial pests, leading to strong commercial success. Moreover, proactive government initiatives and surge in national & international associations to increase the agricultural production of oil to meet the need for food products are anticipated to fuel the oilseeds market growth.

Global Key Players;

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

Syngenta Crop Protection AG.

However, uncertainty in climatic conditions leads to the lower production of oilseeds resulting in fluctuation of prices. Thus, continued volatility in the prices of oilseeds is anticipated to restrain the growth of the market. Moreover, rise in demand for vegetable oil/edible oil produced from oil seeds in the manufacturing of biodiesel is expected to provide lucrative opportunities to the market players.

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Outbreak of COVID-19 positively affected the growth of the oilseeds market in 2020. For instance according to The Food and Agriculture Organization (FAO), in April, 2020, the exports of agriculture products dropped for most product groups with notable exception of oil seeds and leaginous fruits. Furthermore, increased demand for household edible oil and increased production of oilseeds were also attributed for the growth of the market in 2020.

According to the oilseeds market analysis, the oilseeds market segmented into oilseed type, 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).

According to the oilseeds market trends, on the basis of oilseeds type, the cottonseed was valued at $8,282.3 million in 2020, and is projected to reach $11,309.9 million by 2031, growing at a CAGR of 2.8% from 2022 to 2031. Cottonseed hulls serve as an excellent source of feed for the livestock.

Byproduct, the edible oil segment accounted for the significant share in the global market in 2020 and is expected to increase its share during the forecast period. Oils are majorly extracted from oilseeds. They have been a part of human diet for ages and are being used in food, both for cooking and as supplements. Vegetable/edible oil extracted from oilseeds are rich source of oleic acid, essential fatty acids such as linoleic acid (Omega 6) and alpha-linoleic acid (Omega 3), monounsaturated fatty acids, as well as vitamin E (tocopherol) and vitamin K. Thus, surge in demand for editable oil form household and food service sectors is expected to garner the growth of the oilseeds market during the forecast period.

On the basis of breeding type, the genetically modified segment accounted for significant share in global oilseeds market and is expected to sustain its share throughout the oilseeds market forecast period.

According to the oilseeds market opportunities, on the basis of biotech trait, the insecticide resistant segment was the significant contributor to the market, and is expected to increase its contribution during the forecast period. Insect-resistant oilseeds or crops incorporate specific genetic material that naturally imparts pest killing attributes to the crops. The sustainable and economic advantages of insect-resistant oilseeds or crops are drastic reduction or negligible use of synthetic insecticides, improved productivity & quality of plants, protection from different diseases, and minimal or zero loss of crops due to attack of insects.

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Key Findings Of The Study

The 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.

In 2020, depending on oilseeds type, the peanut segment acquired $48,378.2 million, garnering 19.8% of the global oilseeds market share.

In 2020, on the basis of product, the animal feed segment acquired $139,143.2 million, exhibiting 57.0% of the global oilseeds market share.

In 2020, by breeding type, the conventional segment was valued at $113,640.5 million, accounting for 46.6% of the market share.

In 2020, on the basis of biotech trait, the other stacked trait segment acquired $105,637.8 million, exhibiting 43.3% of the global oilseeds market share.

China was the most prominent oilseeds market in Asia-Pacific in 2020, and is projected to reach $115,632.6 million by 2031, growing at a CAGR of 3.3% during the forecast period.

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