Oilseed Market is estimated to grow at a CAGR of 6.72% to reach US$481.683 billion by 2029

oilseed market

The oilseed market is expected to grow at a CAGR of 6.72% during the forecasted period, with a market valuation of US$305.526 billion in 2022 and is expected to reach US$481.683 billion by 2029.

Oilseeds and oilseed meals can supply nutrients that aid in milk production and growth. When employing heat-treated oilseeds or oilseed meals, it is critical to use the right heat treatment to preserve amino acids against ruminal enzyme degradation and block organically present enzymes that restrict intake.

Most oilseed meals are protein-based and include significant quantities of critical amino acids. Oilseeds are used in a variety of industrial applications, including biodiesel, fertilizer, pharmaceuticals, cosmetics, animal feed, fibers, paint, buttons, and so on. Growing demand for animal nutrition, along with usability in many applications and the adoption of a healthy lifestyle, has fuelled market expansion on a worldwide scale.

As per the report, the oilseed market is expected to grow at a significant pace.

Oilseed crops are used to provide sustainable aviation fuel, lowering overall carbon emissions. The increased emphasis on limiting conventional kerosene in attempts to decrease the global carbon footprint has hastened the demand for sustainable aircraft production, which is projected to pave the way for future growth in the oilseed industry.

For instance, In December 2022, the US Department of Energy awarded Michigan State University researchers $2 million to produce cleaner, more sustainable biodiesel and jet fuels from Camelina sativa, a plant related to cabbage and cauliflower. The financing will help to better understand the plant’s oilseed output and make it a viable alternative to petroleum-based aircraft fuels.

There are many product launches and developments that are taking place in the oilseed market during the forecast period. For instance, Chevron USA, Bunge, and Corteva Inc. signed a strategic agreement in March 2023 to develop winter canola hybrids for use in low-carbon plant-based oil production. The increased output intends to address the rising demand for low-carbon renewable fuels.

The global oilseed market, based on different crop types is categorized into- canola, rapeseed & and mustard, soybean, sunflower, and others. Canola seeds are an oilseed that is widely grown for its high-quality oil, which is low in saturated fat but high in unsaturated fats, notably omega-3 fatty acids. Canola oil is widely used in cooking, frying, and baking, as well as in food processing and biodiesel production.

Rapeseed and mustard seeds belong to the Brassicaceae family and are grown largely for their oil content. Rapeseed oil is used in a variety of culinary applications, including frying and salad dressings, whereas mustard oil is prominent in Indian cuisine and also has medicinal benefits.

Soybeans are one of the world’s most frequently farmed oilseeds, providing a large supply of vegetable oil and protein. Soybean oil is widely used in culinary goods, including cooking oils, margarine, and salad dressings, as well as in industrial uses such as biodiesel manufacturing.

Sunflower seeds are an important oilseed crop noted for their high oil content and nutritional value. Sunflower oil is widely used in cooking, frying, and salad dressings due to its mild flavor and high smoke point. It is also used in the manufacturing of margarine and mayonnaise.

The global oilseed market, based on different types is categorized into- GMO, and Conventional. GMO oilseeds have been genetically altered with biotechnology to include desired features like herbicide resistance, insect resistance, disease resistance, or improved nutritional profiles. GMO oilseeds include soybeans, canola, and corn.

Conventional oilseeds are types that have been established using traditional breeding procedures and farming practices without the application of genetic manipulation. These types may have been selectively bred to boost yield, oil content, disease resistance, or other characteristics during decades of crop development initiatives.

North America accounts for a significant portion of the global oil seed industry as a result of increased oilseed production and increased use of edible oils in Americans’ everyday lives. Furthermore, the US soybean crop was produced in bigger numbers, which resulted in increased soybean oil consumption and hastened market expansion. According to the World Trade Organisation, the United States is the world’s second-largest soybean exporter and one of its main producers.

As a part of the report, the major players operating in the oilseed market that have been covered are BASF SE, Bayer AG, Bunge Limited, KWS SAAT SE & Co. KGaA, Syngenta, Corteva, and Cargill.

View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/oilseed-market

The analytics report categorizes the oilseed market using the following criteria:

Segmentation:

  • By Crop Type
    • Canola
    • Rapeseed & Mustard
    • Soybean
    • Sunflower
    • Others
  • By Type
    • GMO
    • Conventional
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Spain
      • Others
    • Middle East And Africa
      • Saudi Arabia
      • Israel
      • Other
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Indonesia
      • Taiwan
      • Others
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