Oilseed Market By Type (Soybeans, Sunflower Seeds, Canola, Cottonseeds, Peanuts, Rapeseed), By Form (Whole Seeds, Meal, Oil), By Application (Food & Beverages, Animal Feed, Biofuels, Industrial Uses, Cosmetics & Personal Care, Pharmaceuticals), By End-User Industry (Food Processing, Agriculture & Animal Feed, Biofuel Industry, Personal Care & Cosmetics, Pharmaceuticals), and By Region; Global Insights & Forecast (2024 – 2030)

As per Intent Market Research, the Oilseed Market was valued at USD 239.5 billion in 2023 and will surpass USD 412.8 billion by 2030; growing at a CAGR of 8.1% during 2024 - 2030.

The oilseed market plays a crucial role in the global agricultural and food sectors, with oilseeds serving as the primary source for edible oils, animal feed, and biofuels. As the global population continues to rise and consumer preferences shift towards plant-based diets, the demand for oilseeds, especially soybeans, sunflower seeds, and canola, is on the increase. Oilseeds are cultivated primarily for their oil and meal, both of which have diverse applications in food production, animal nutrition, bioenergy, and industrial sectors. The market is also influenced by key factors such as climate change, technological advancements in seed production and processing, and evolving regulatory frameworks in various regions.

The global oilseed market is segmented into various categories such as type, form, application, and end-user industries, each showcasing distinct growth patterns. Within each segment, certain sub-segments are experiencing rapid growth due to shifts in consumer behavior and advancements in agricultural practices. This report delves into the key segments of the oilseed market and analyzes the fastest-growing or largest sub-segment in each category to provide insights into future trends and opportunities.

Soybeans Segment is Largest Owing to Global Demand for Edible Oils and Protein

Soybeans remain the largest subsegment in the oilseed market due to their wide range of applications and versatility. Soybean oil is one of the most commonly used cooking oils, particularly in countries like the United States, Brazil, and Argentina, where soybean farming is a key industry. In addition to its culinary uses, soybean meal is a significant component of animal feed, providing a rich source of protein for livestock and poultry. Soybean cultivation also plays a pivotal role in the biofuels industry, with soy-based biodiesel being an important renewable energy source.

In terms of production, soybeans dominate the global oilseed production, with major producers such as the U.S., Brazil, and Argentina leading the way. Soybean farming has benefited from technological advancements in seed genetics, which have resulted in higher yield crops and increased resistance to pests and diseases. As global demand for protein-rich plant-based foods rises, soybeans are expected to remain the primary choice for plant-based protein and oil in the coming years.

Whole Seeds Form is Largest Due to Consumer Preference and Food Industry Demand

Whole seeds constitute the largest form segment in the oilseed market, driven by their consumption in the food industry. These seeds are processed into oils, used for cooking, or incorporated into various food products, such as snacks, margarine, and salad dressings. Soybeans, sunflower seeds, and canola seeds are the most common whole seeds used for oil extraction. Whole seeds are preferred for their high oil content and ease of extraction, which makes them a valuable commodity for oil producers.

Whole seeds are also utilized in animal feed production, providing essential nutrients for poultry, cattle, and other livestock. The demand for whole seeds continues to grow, particularly as the food processing industry strives to offer healthier, more natural food options. In addition, whole oilseeds are also being used in plant-based food applications, driven by the increasing trend toward vegetarian and vegan diets globally.

Food & Beverages Application is Fastest Growing Owing to Increasing Plant-Based Diets

The food and beverages segment is the fastest-growing application for oilseeds, largely driven by the surge in demand for plant-based oils. With consumers increasingly turning to plant-based alternatives for health and sustainability reasons, the demand for oilseeds like soybeans, sunflower seeds, and canola has risen substantially. These oilseeds are not only used as cooking oils but also in the formulation of plant-based dairy substitutes, plant protein products, and other vegan food innovations.

This trend is particularly evident in developed markets such as North America and Europe, where the popularity of plant-based diets is at an all-time high. As a result, food manufacturers are increasing their use of oilseed-based ingredients to cater to the growing health-conscious consumer base. The rise of plant-based food products, coupled with the continued use of oilseeds in food and beverage applications, is expected to drive the rapid growth of this segment in the coming years.

Agriculture & Animal Feed End-User Industry is Largest Owing to Rising Livestock Production

The agriculture and animal feed industry remains the largest end-user for oilseeds, with oilseed meal being a primary ingredient in livestock feed. Oilseed meal, derived from oilseeds like soybeans, sunflower, and canola, is rich in protein and is a critical component in the diets of poultry, cattle, and other livestock. As global meat and dairy consumption continues to rise, the demand for oilseed meal in animal feed has grown, especially in countries with large-scale livestock industries such as China, Brazil, and the U.S.

With the increasing industrialization of agriculture and growing livestock production, the need for high-quality protein sources for animal feed is expected to remain strong. Oilseed meal provides a cost-effective and nutritious alternative to other protein sources, making it a staple in the animal feed industry. This trend is expected to drive sustained demand for oilseeds in the agriculture and animal feed sectors.

Asia Pacific Region is Fastest Growing Owing to Increased Oilseed Consumption and Production

Asia Pacific is the fastest-growing region in the oilseed market, driven by increased consumption and production in countries such as China, India, and Southeast Asia. China, the world’s largest importer of soybeans, is seeing growing demand for oilseeds for both food and feed purposes. Similarly, India has witnessed an uptick in oilseed production, particularly for mustard and sunflower, to meet the demand for edible oils. Additionally, Southeast Asian countries, such as Indonesia and Malaysia, have large-scale palm oil production, contributing significantly to the region's oilseed market.

As the demand for edible oils and animal feed continues to grow in these regions, the oilseed market in Asia Pacific is expected to expand rapidly. Moreover, governments in the region are focusing on improving agricultural productivity and implementing sustainable farming practices to boost oilseed production. This, combined with the increasing adoption of oilseeds in the biofuels industry, will further contribute to the region’s dominance in the global market.

Leading Companies and Competitive Landscape

The oilseed market is highly competitive, with key players such as Cargill Inc., Archer Daniels Midland Company (ADM), Bunge Limited, and Olam International leading the way. These companies have established strong global networks for oilseed sourcing, processing, and distribution. They focus on enhancing production capacities, expanding processing facilities, and improving sustainability practices to stay ahead in the market.

In addition to the established players, regional companies are also making strides in oilseed production and processing, particularly in emerging markets such as Asia Pacific and Latin America. Innovation in seed technology, including the development of genetically modified seeds for higher yields, and advancements in processing techniques, such as cold-pressing and solvent extraction, are key strategies for companies aiming to maintain a competitive edge. As consumer preferences shift towards sustainable and healthy oils, companies are also exploring new product offerings, including organic and non-GMO oils, to meet the evolving demands of the market.

List of Leading Companies:

• Alfa Laval
• Archer Daniels Midland Company (ADM)
• Bunge Limited
• Cargill Inc.
• Glencore Agriculture
• India Glycols Ltd.
• Jiusan Oil & Grains Industry Group
• Koch Industries
• Louis Dreyfus Company
• Marico Ltd.
• Nidera
• Olam Group
• Ruchi Soya Industries
• Sime Darby Plantation Berhad
• Wilmar International Limited

Recent Developments:

• ADM Acquires GrainCorp – Archer Daniels Midland announced the acquisition of GrainCorp, a major step in expanding its oilseed processing capabilities in the Asia-Pacific region.
• Bunge and ADM Expand Global Oilseed Crush Capacity – Both companies have made substantial investments in increasing their oilseed crush capacity to meet growing global demand for plant-based oils and protein.
• Cargill Launches New Plant-Based Cooking Oil Line – Cargill expanded its product range by launching a new line of plant-based cooking oils designed to cater to the rising consumer demand for healthier, sustainable oils.
• Olam International Partners with Tech Firms for Sustainable Sourcing – Olam has partnered with technology companies to enhance the traceability and sustainability of its oilseed sourcing, ensuring compliance with global sustainability standards.
• Wilmar International Implements Advanced Biofuel Technology – Wilmar, a major player in the oilseed industry, has announced the implementation of new biofuel technology in its plants to increase the efficiency of oilseed-to-biofuel conversion.

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