Oilseeds Market Size, Share, Growing Demand, Current and Future Trends and Forecast

Increase in the global consumption of soybean has led to its higher production, especially in Brazil and Argentina driving the market growth during the forecast period Furthermore, rise in usage of oilseeds in animal feed and increase in application of vegetable oil in biodiesel are likely to escalate the demand for oilseeds.

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.

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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.

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.

The players operating in the oilseeds industry have adopted product launch and business expansion as their key 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 Agri science, Gansu Dunhuang Seed, Industry Group Co., Ltd., KWS SAAT SE & Co., Mahyco Seeds Ltd and Syngenta Crop Protection AG.

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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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