Oilseed Farming Global Market Report 2024 - By Size, Growth, Share, Report, Key Trends, Forecast To 2033

The oilseed farming market has exhibited rapid growth, escalating from $559.77 billion in 2023 to $631.85 billion in 2024, showcasing a substantial compound annual growth rate (CAGR) of 12.9%. The market is anticipated to continue its robust expansion, reaching $991.44 billion by 2028, with a sustained CAGR of 11.9%. Key drivers include the role of population growth, increasing demand for animal feed, and the transformative impact of innovative technologies in precision agriculture.

Role of Population Growth in Driving Oilseed Market:
The surge in population growth is a pivotal driver propelling the oilseed market. As population numbers rise, there is an increased demand for edible oils, proteins, and potential biofuels derived from oilseeds. This is crucial for ensuring food security and meeting the dietary needs of an expanding population. For instance, in 2022, the United States Department of Commerce reported a 0.21% increase in the U.S. population to 332,403,650. The growing population necessitates the production of oilseeds to sustain food supplies, contributing to the substantial growth of the oilseed market.

Growing Demand for Animal Feed:
The escalating demand for animal feed plays a pivotal role in driving the growth of the oilseed market. Animal feed, essential for meeting the nutritional needs of livestock, poultry, and pets, is formulated using oilseeds due to their high protein content. This contributes to the provision of energy in the form of fats and oils. The demand for animal feed has seen a notable increase, with a 2.3% rise reported by Alltech in 2021, totaling 1.235 billion metric tons of feed produced. This growing demand for animal feed is a significant factor fueling the expansion of the oilseed market.

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Big Data Farming in Precision Agriculture for Oilseed Production:
Big data farming, or precision agriculture, is playing a transformative role in enhancing the efficiency of oilseed production. Developed countries are widely adopting precision agriculture, collecting real-time data on various parameters such as weather, soil quality, crop maturity, and equipment availability. This data-driven approach aids farmers in determining the optimal quantities of nutrients, water, and other inputs required for diverse oilseed crops in different soil environments. The integration of big data farming techniques contributes to increased farm and crop yield.

Innovative Technologies Reshaping the Oilseed Market:
Major players in the oilseed market are prioritizing the development of innovative technologies to gain a competitive edge. Pelleting technology, as an example, is being employed for oilseeds, converting finely ground mash feed into dense, free-flowing pellets or capsules. Syngenta Canada Inc. launched pelleting technology for canola in May 2022, aiming to optimize seed size and uniformity. This technology enhances single-planter performance, ensuring accurate seed delivery and precise spacing, thereby reducing uncertainty in canola cultivation.

Market Dynamics and Segmentation:
As of 2023, Asia-Pacific stands as the largest region in the oilseed farming market, with Western Europe following as the second-largest region. The oilseed farming market covered in this report is segmented -
1) By Type: Soybean Farming, Other Oilseed Farming
2) By Farming Process: Organic Oilseed Farming, Trazitional Farming
3) By Application: Food Products, Feed, Industrial Products

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Oilseed Farming Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Oilseed Farming Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on oilseed farming market size, oilseed farming market drivers and trends, oilseed farming market major players, competitors' revenues, market positioning, and market growth across geographies. The oilseed farming market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the oilseed farming market report and tap into segments with the highest growth potential.

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