Global Oilseeds Market – Industry Trends and Forecast to 2030

Global Oilseeds Market, By Biotech Trait (Insecticide-Resistant and Herbicide-Tolerant), Oilseed Type (Peanut, Soybean, Sunflower Seed, Cottonseed, Copra, Palm Kernel and Rapeseed), Type (Conventional and Genetically Modified), Application (Oilseed Meal and Vegetable Meal), Product (Edible Oil and Animal feed) – Industry Trends and Forecast to 2030

Oilseeds Market Dynamics Analysis and Size

Oildseed crop productivity is majorly dependent on climate and weather changes that need to meet the future food demand. These oilseeds are used to manufacture edible oil and many other oil used in numerous industries such as cosmetics, pharmaceuticals and others. They are rich in various phytochemicals such as flavonoids, tocopherols, tocotrienols, phenolic compounds, polyphenols, vitamins, protein, minerals, and fiber and are used in livestock feeds, medicines, biofuels, healthy vegetable oils and other oleochemical industrial purposes.

Data Bridge Market Research analyses that the oilseeds market was valued at USD 293.56 billion in 2022 and is expected to reach USD 450.52 billion by 2030, registering a CAGR of 5.50% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Oilseeds Market Dynamics Scope and Segmentation

Market Definition

Oilseeds are those seeds which is used to cultivate oil crops such as canola, sunflower, soybean and cotton. These oil crops' seeds, nuts or fruits are either consumed directly as food or crushed to extract oil for the biofuel, oleo chemicals, food and other industries. With the continuous rise in demand for oilseed extracts, farmers are investing more in producing oil crops with high-quality oilseeds.    

Oilseeds Market Dynamics

Drivers

• Growing use of oilseeds in animal feed

The increasing use of oilseeds in animal feed is anticipated to drive the growth of the. Oilseeds are a rich source of fatty acids, oil, minerals, protein, vitamins and fibre, all of which are often used in the extraction of oil. After the extraction of oil from oilseeds, the nutrient-dense pulp is changed into meals or oilcake and fed to dairy farm animals to enhance the product and quality of milk while also dropping feed requirements. For instance, as per the report of U.S. Department of Agriculture (USDA), a US-based agriculture service organization, the entire oil meal production was about 18.5 metric tons in 2021. Around 70-80% of India’s total oilseed quantity is crushed for making meal, and the oil and meal derived are used commonly for animal feed on farms.

• Rising demand of oilseeds for various applications

Oilseeds are high in demand due to its several applications. Oilseeds such as sunflower is used as a type of moisturizer in cosmetic products. Oil seeds are the second-largest agricultural export after food grains in India. As people are taking preference over their health, they are selecting vegetable oil over the animal fat. Moreover, Linseed Oil is a different type of vegetable oil extensively used for varnishes, paints, and lubricants. Thus, the increasing demand for oilseeds for various applications is anticipated to drive the market's growth rate.

Opportunities

• Rising government initiatives to improve the production of oilseeds

Increasing government initiatives are a significant trend which is gaining popularity in the oilseeds market. Governments all over the globe are taking an initiatives to increase the manufacture of oilseeds and cut expensive vegetable oil imports. For instance, the government of India has launched a National Mission on Oilseeds and Oil Palm in August 2021. This strategy is to become self-sufficient in edible oil and upsurge local oilseed output. With the National Mission on Oilseeds and Palm Oil, the government will spend more than 110 billion rupees ($1.48 billion) to deliver farmers with everything they need, including better technology and seeds.