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The oilseeds market size is forecast to increase by USD 78 billion, at a CAGR of 4.8% between 2023 and 2028. The market is witnessing significant growth due to the increasing demand for trans-fat-free oils and their applications in various industries, including food and beverages, cosmetics, and pharmaceuticals. Moreover, the beauty and cosmetic industry's growing preference for natural and organic products derived from oilseeds is fueling market growth. However, the market is also facing challenges, such as fluctuations in oilseed crop prices due to a lack of arable land and unfavorable weather conditions, which may impact the supply chain and affect market stability. Additionally, the rising trend of vegetarianism and veganism is driving the demand for plant-based proteins derived from oilseeds, further expanding the market's scope. Overall, the market is expected to continue its growth trajectory, driven by these trends and challenges.
The market is witnessing significant growth due to the increasing demand for vegetable oil and its derivatives, primarily used for human consumption and as animal feed. Domestic production of oilseeds, such as soybeans and sunflower seeds, is a key focus for farmers to ensure edible oil self-sufficiency. The seed business is thriving, with the adoption of hybrid seeds to enhance crop productivity and improve soil quality through nitrogen restoration. Oilseeds, including sunflower and soybeans, are rich sources of protein, calcium, carbohydrate, ash, and various essential nutrients. Sunflower seeds, in particular, are valued for their oil content, which is rich in monounsaturated and polyunsaturated fatty acids, phytochemicals, flavonoids, and tocopherols. Sunflower oil is also used extensively in the feed industry for producing sunflower meal, a valuable byproduct rich in protein. Climate change and weather changes pose challenges to oilseed production, affecting crop productivity. However, advancements in agricultural technology and practices are helping farmers mitigate these risks. The market is also focusing on producing healthy products free from contamination to cater to the growing demand for high-quality edible oils.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The soybean segment is estimated to witness significant growth during the forecast period. The market is witnessing significant growth due to the increasing demand for Disinfectants, Inks and paints, Plastics and resins, Glycerols, and various other industrial applications. Soybean, Cottonseed, Palm kernel, Groundnut, Rapeseed, Copra, and other Oilseed types are the primary sources of these essential commodities. Crop productivity is influenced by climate change and weather changes, which may impact the availability and price of oilseeds.
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The Soybean segment accounted for USD 147.90 billion in 2018. Food products, such as edible oil, are another major application area for oilseeds. The rising health consciousness among consumers and the demand for nutrient-dense pulp have fueled the demand for oilseeds in the food industry. Phytochemicals like Flavonoids, Tocopherols, Tocotrienols, Phenolic compounds, Polyphenols, vitamins, minerals, and Fiber are some of the essential oil nutrients found in oilseeds, making them an integral part of a healthy diet. Oilseed meal is another valuable byproduct, used as Livestock feeds, Medicines, and Biofuels. Oleochemical and Biotech trait are emerging trends in the oilseed industry, offering opportunities for innovation and growth. Peanut, Sunflower seed, and Vegetable meal are some of the popular oilseed types used in these applications. The growing food demand and the potential of oilseeds as a source of sustainable and renewable resources are expected to drive the market's future growth.
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APAC is estimated to contribute 52% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market encompasses the production and trade of various seeds, including soybeans, sunflower seed, cotton seed, and canola seed, primarily used for vegetable oil production and animal feed. Domestic production of oilseeds plays a significant role in achieving edible oil self-sufficiency, benefiting farmers through the seed business. Hybrid seeds are increasingly being adopted for higher yields and improved quality. Soybean production is a major contributor, with organic and vegan options gaining popularity for their healthy products. Sunflower seeds are prized for their oil, rich in protein, calcium, carbohydrate, and other essential nutrients. Sunflower meal, a byproduct of oil extraction, is valuable for the feed industry. Soil quality is crucial for oilseeds cultivation, necessitating nitrogen restoration and careful attention to contamination. In the food industry, oilseeds find applications in cooking oil, sauces, spreads, dressings, meat products, ready-to-eat (RTE) snacks, and even as adhesive and antiknock additives. Sunflower seeds are also used in various industries, including the production of sauces and spreads, as well as in the manufacturing of RTE snacks and meat products.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for trans-fat-free oils is notably driving market growth. The market is experiencing significant growth due to the increasing demand for edible oils with lower fat content, driven by rising health consciousness and concerns over food safety. The incidence of health issues such as digestive disorders, diabetes, and obesity has increased in recent years, leading consumers to seek out nutrient-dense, clean-label, organic, and non-GMO food products. This shift in food consumption patterns is reflected in the growing popularity of meal replacement products, particularly among populations with high rates of obesity, overweight, and diabetes. In addition to food products, oilseeds are also used extensively in industrial applications such as inks and paints, plastics and resins, glycerols, fatty acids, and oleochemicals. The versatility of oilseeds extends to the production of phytochemicals, including flavonoids, tocopherols, tocotrienols, phenolic compounds, and polyphenols, which are used in medicines and health supplements.
Moreover, oilseed crops, such as soybean, cottonseed, palm kernel, groundnut, rapeseed, copra, and others, are essential sources of vitamins, minerals, fiber, and livestock feeds. The impact of climate change and weather changes on crop productivity is a major concern for the oilseed industry, necessitating the development of biotech traits and innovative farming practices to ensure sustainable production. The market for oilseeds is further fueled by the growing demand for biofuels, which are derived from oilseeds, and the increasing use of oilseed meal as a source of protein in animal feeds. Thus, such factors are driving the growth of the market during the forecast period.
Application in beauty and cosmetic industry is the key trend in the market. The market is witnessing significant growth due to the increasing demand for specialty ingredients in various industries. Disinfectants, inks and paints, plastics and resins, glycerols, and fatty acids are some of the major industries that utilize oilseeds and their by-products. Soybean, cottonseed, palm kernel, groundnut, rapeseed, copra, and other oilseed types are extensively used for producing edible oils, which are essential in food products and industrial applications. Crop productivity is influenced by climate change and weather changes, leading to a fluctuating supply of oilseeds. The rising food demand and health consciousness have increased the consumption of nutrient-dense pulp and oilseed meals as livestock feeds, medicines, and biofuels.
Moreover, the oleochemical industry uses oilseeds to produce phytochemicals such as flavonoids, tocopherols, tocotrienols, phenolic compounds, polyphenols, vitamins, and minerals. Peanut, sunflower seed, and vegetable meal are some of the popular oilseed types used in the production of various food and industrial products. The increasing awareness of health benefits and the growing preference for natural and nutrient-dense food products have led to an increase in the demand for oilseeds and their by-products in the food industry. The biotech trait in oilseeds is also gaining popularity due to its ability to enhance crop productivity and improve the nutritional value of food products. Thus, such trends will shape the growth of the market during the forecast period.
Fluctuations in oilseed crop prices due to lack of land is the major challenge that affects the growth of the market. The market is influenced by various factors, including weather conditions and climate change, which impact crop productivity and, consequently, the supply of raw materials to manufacturers. Disinfectants, inks and paints, plastics and resins, glycerols, fatty acids, and other industrial products rely on oilseeds for their production. Soybean, cottonseed, palm kernel, groundnut, rapeseed, copra, and other oilseed types are used to produce edible oils rich in phytochemicals, such as flavonoids, tocopherols, tocotrienols, phenolic compounds, polyphenols, vitamins, minerals, fiber, and protein-rich livestock feeds.
Additionally, oilseeds are used in medicines, biofuels, and oleochemicals. However, challenges such as ineffective insect and crop disease management, limited access to funding, and a lack of knowledge about modern agricultural practices and farm management skills result in the loss of approximately 30% of crops in key countries. Furthermore, the declining availability of arable land for oilseed cultivation in APAC negatively impacts the market's growth. The health consciousness trend and the demand for nutrient-dense pulp from food products add to the market's potential growth. Key oilseed types, such as peanut, soybean, sunflower seed, and vegetable meal, are in high demand due to their diverse applications. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AGT Food and Ingredients Inc. - The company offers products such as groundnut seeds and sesame seeds.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth due to the increasing demand for vegetable oil and its derivatives in various industries. Domestic production of oilseeds, including soybeans, sunflower seed, cotton seed, and canola seed, is a crucial factor driving the market's growth. Farmers are shifting towards hybrid seeds to enhance productivity and improve oil content in seeds. The seed business is thriving due to the growing demand for high-quality seeds. Edible oil self-sufficiency is a priority for many countries, leading to increased focus on oilseed cultivation. The market caters to various industries, including the feed industry, which uses oilseeds and their by-products, such as sunflower meal and soybean meal, as a primary source of protein, calcium, carbohydrate, and ash for animal feed. Cooking oil derived from oilseeds is a staple in many households worldwide. The trend towards healthy products, including vegan and organic options, is driving the demand for sunflower oil, canola oil, and other healthy oil alternatives. Sunflower seeds are also popular in sauces, spreads, dressings, meat products, RTE snacks, adhesives, and antiknock additives. The market's growth is, however, challenged by issues such as soil quality, nitrogen restoration, and contamination.
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Market Scope |
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Report Coverage |
Details |
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Page number |
141 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.8% |
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Market growth 2024-2028 |
USD 78 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.4 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 52% |
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Key countries |
US, China, India, Germany, and Brazil |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AGT Food and Ingredients Inc., Archer Daniels Midland Co., Bayer AG, Bora Foods Pvt. Ltd., Buhler AG, Bunge Ltd., Cargill Inc., CHS Inc, ETG Group, Kanematsu Corp., Krishidhan Seeds Pvt. Ltd., KWS SAAT SE and Co. KGaA, Louis Dreyfus Co. BV, Mahyco Pvt. Ltd., Mountain States Oilseeds, Nuziveedu Seeds Ltd., Rowland Seeds Inc., Soni Soya Products Pvt. Ltd., Tovarna Olja Gea d.o.o., and Wilmar International Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for Market forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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