Oilseeds Market - Forecast(2023 - 2028)

The Oilseeds Market is set to register a CAGR of 4.1% with a market value of $201.1million in 2020 over the forecast period of 2021-2026. Oilseeds are seeds that are mainly grown to extract edible oil for human use. Oilseed crops are the primary source of omega 3 fatty acid DHA and EPA that provides various health benefits. In oilseeds, Erucic acid is a naturally occurring contaminant that includes oilseed rape and mustard. Helianthus annuus (sunflower), soybeans, rapeseed, etc. are considered as the major oilseed crops. Oilseeds as well as legumes are important dietary constituents to reduce chronic disease owing to the presence of important dietary macro-micro nutrients. Oilseeds are extracted with the help of mechanical and manual processing equipment. Oilseeds are also used for the production of bio-fuels owing to the demand for renewable energy sources increases. The majority of the population is using vegetable oil in their daily lifestyle that also increases the demand for oilseeds. The rising consumption of soybean oil among the population has increased the demand for oilseeds. Moreover, increasing demand for oil in the food industry is the major factor driving the growth of the oilseeds Market. Furthermore, the growing application of oilseeds in the cosmetic and pharmaceutical industry helps in enhancing the overall market demand for Oilseeds Market for the period 2021-2026. 

The report: “Oilseeds Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Oilseeds Market.

By Type: Copra, Cottonseed, Palm Kernel, Peanut, Rapeseed, Soybean, Sunflower, and Others

By Category: Genetically Modified, and Conventional

By End-Use Industry: Food Industry, Personal Care and Cosmetic, Pharmaceutical, and Others 

By Geography: North America (U.S., Canada, Mexico), Europe (U.K, Germany, Italy, France, Spain, Russia, Rest of Europe), Asia Pacific (China, Australia, Japan, South Korea, India, Rest of Asia Pacific), South America (Brazil, Argentina, Others) and Rest of the World (Middle East, Africa)

The Oilseeds Market based on Type can be further distributed into Copra, Cottonseed, Palm Kernel, Peanut, Rapeseed, Soybean, Sunflower, and Others. The sunflower segment is the major segment generating revenue in 2020. This is mainly owing to its high usage in the production of biofuel. Moreover, sunflower oil is mostly consumed among the population owing to its health benefits as it contains omega-6 fatty acids and is highly nutritious. Infeed the industry, sunflower seeds are extremely used as the powdered form that boosts the demand for the sunflower oilseed segment. The Soybean segment is estimated to register the fastest CAGR of 4.9% for the period 2021-2026. Soybeans contain fiber, protein and are cholesterol-free. Health-conscious people are rising on daily basis resulting in the increased consumption of soybean oil. In the food industry, the demand for soybean has increased over time owing to its nutritional benefits thereby surging in the production of soybean oil hence propelling the growth of Oilseed Market.

The Oilseed Market based on End-Use Industry can be further segmented into Food Industry, Personal Care and Cosmetic, Pharmaceutical, and Others. The Food Industry segment registers for the highest Oilseeds Market share in 2020. Recently, the demand for edible oil has increased owing to its daily use. In various food products, edible oils are mostly used so, manufacturers are focusing on developing a variety of edible oils that have resulted in the surge of oilseed production. The Personal care and Cosmetic segment is forecasted to register the fastest CAGR of 5.1% over 2021-2026. In cosmetic and personal care products, sunflower seeds are used in the formulation of a wide variety of product types, including bath products, makeup, cleansing products, depilatories, hair conditioners, shampoos, other hair care products, skin care products, and suntan products that increases the demand of oilseeds in cosmetic and personal industry, therefore, propelling the growth of Oilseeds Market.

North America dominated the Oilseeds Market with a major share of 34% in 2020. This is owing to the increase in the use of edible oils in regular cooking escalating the production of oilseeds. Moreover, the production of soybean in the U.S. had increased, hence growing the consumption of soybean oil further escalates the market growth. The United States is the world's leading soybean producer and the second-leading exporter. Soybeans comprise about 90% of U.S. oilseed production thus driving the growth of the oilseed market. However, Asia Pacific is projected to be the fastest-growing market during the forecast period 2021-2026 owing to rising growth in the food processing industry and increasing production of soybean. India is considered as the 4th largest oilseed production and approximately 39.46 million tonnes of oilseeds are produced in 2018. Moreover, Soybean is the most important crop grown in India accounting for more than 95% of total production which escalate the use of soybean oil and thus boosting the market growth.

Soybean oil is considered the world’s widely produced and widely consumed vegetable oil. According to the US Department of Agriculture, soybean production is projected to increase 23 million tonnes to 386 million tonnes in 2021 which is rising the demand for soybean oil among the population. Moreover, the consumption of soybean oil increases among the health-conscious populations owing to its low cholesterol properties, so, manufacturers are focusing on developing soybean oil which sprang the demand for oilseeds. Also, oilseeds output is projected to increase 5% mainly from growth in soybean production in the United States and South America that escalates the growth of the Oilseeds Market during the forecast period 2021—2026.

In the food sector, the demand for oil is growing owing to the consumption of oil in daily lifestyle. Moreover, a large number of the population is using edible oil for cooking and a variety of food products are cooked with the help of edible oil. This factor encourages manufacturers to produce a variety of edible oils that enhance the growth in the food industry. In 2021, the consumption of edible oil increased at a rate of 2% owing to its high usage in the various food sectors. This factor is escalating the growth of the Oilseeds Market.

In 2020, the prices of soy oil and sunflower oil increased more than 50% mainly due to less cultivation during nationwide lockdowns, and according to the Indian Ministry of Agriculture and Farmers’ Welfare, retail prices of oilseeds have gone up by Rs 10-15 per kg in mid-2020 in India. Thus, it is set to hinder the growth of the market during the forecast period 2021-2026.

Product launches, acquisitions, collaboration, joint ventures, and geographical expansions are key strategies adopted by players in the Oilseeds Market. Oilseeds top 10 companies include

1. Cargill

2. Archer Daniels Midland Company

3. Corteva

4. La Tourangelle

5. Ostro-Organic

6. OPW Ingredients

7. BIO PLANETE

8. Tovarna olja GEA

9. Roland Foods

10. Conagra Brands Inc

Edible Oil Market
Report Code: FBR 0180

Soybean Market
Report Code: AGR 0057