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Oilseeds Market by Type (Soybean, Sunflower, Cottonseed, Palm kernel, Groundnut, Rapeseed, Copra, Others) by Breeding Type (Conventional, Genetically Modified) by End-user (Oilseed Food Meal, Oilseed Feed Meal, Vegetable Oil, Industrial Products)- Growth, Future Prospects And Competitive Analysis, 2016 - 2028

Oilseed crops are mainly cultivated for vegetable oils. There are a large number of crops included in oilseeds crops from across the world. World oilseed production has already reached over 620 million metric tons, while the area under cultivation is approximately 300 million hectares. Oilseeds are one of the most traded agriculture crops internationally. Based on breeding type, oilseeds can be classified as conventional and genetically modified. Traditional oilseeds hold the largest share. However, increasing demand for vegetable oil, shrinking arable land, growing demand-supply gap, etc., are forcing farmers to shift towards the genetically modified oilseeds that offer a higher yield, need little fertilizers and crop protection chemicals, and have higher resistance to insecticides.             

oilseeds-market

The global Oilseeds market is expected to witness a CAGR of 5.13% during the forecast period. The revenue generated by the global Oilseeds market in 2021 was over USD 274.85 billion and is expected to generate revenue worth USD 390.10 billion in 2028. Therefore, the incremental growth opportunity offered by the global Oilseeds is estimated to be USD 2.36 trillion between 2022 and 2028.    

Interesting Facts about Oilseeds Industry

  • World oilseed production reached over 620 million metric tons in 2021
  • Ukraine and Russia held around 34% and 20% share respectively in oilseeds export worldwide in 2021
  • India and China are the largest importers with over 15.6% and 8.27% share in overall imports in 2021
  • The area under oilseed cultivation around the world is over 400 million hectares
  • World per capita consumption of oilseeds is just above 12.5 kg per annum
  • Soybean production in 2021 reached around 363 million tons

Russia – Ukraine War to Affect the Supply of Oilseeds in the International Market

Oilseeds are one of the most important agricultural commodities traded internationally. Ongoing Russia & Ukraine was poised to influence oilseeds supply in the global market. Although India, China, and Brazil are some of the significant oilseeds production nations, the international trade is dominated by Russia and Ukraine. With over 50% share in total oilseed export worldwide, Russia and Ukraine control the supply of oilseeds. However, due to the ongoing war, Ukraine has shut down its ports and imposed a ban on the export of agriculture and food commodities.

On the other hand, Russia is facing various sanctions, including exclusion from the SWIFT payment system ban on importing any commodity from the vast majority of countries worldwide. This has significantly affected the supply of oilseeds in the international market, creating a demand-supply gap. Despite being the largest producer, India is the largest importer of oilseeds, so supply cut from Russia and Ukraine is likely to cause a crisis in the world oilseeds market and the vegetable oil industry.

Strong Demand from India, China, and European Union

India, China, and European Union collectively consume over 60% of oilseeds per annum. Despite being leading producers, the aforementioned countries/regions are leading importers of the oilseeds because of their vast population, growing demand for vegetable oil and food, and feed meals. India held over 15% share in the import of oilseeds, followed by China with around 8.27% in 2021. Netherland, Italy, Belgium, France, Spain, and Germany are significant importers of oilseeds in the European Union. In contrast, the U.K. held over 2.7% of the total import of oilseeds. Per capita consumption of oilseeds in the European Union, U.K. and U.S. are way higher than that of Asia Pacific, Latin America, and the rest of the world.

Soybean is Largest Produced and Consumed Oilseed

Soybean, Sunflower, Cottonseed, Palm kernel, Groundnut, Rapeseed, Copra, and Others are some major oilseeds produced and consumed worldwide. Among all, soybean is the most widely produced and consumed oilseed. Soybean production reached over 360 million tons in 2021. In comparison, rapeseed is the second largest consumed oilseeds in the world. Rapeseed production reached over 70 million tons in 2021. Rapeseed is closely followed by sunflower seeds, peanuts, cottonseeds, and palm kernels. In addition, many other oilseeds are grown and consumed in different parts of the world, including sesame, safflower, niger, mustard, etc.

Vegetable Oil to Dominate Demand for Oilseeds

Oilseed Food Meal, Oilseed Feed Meal, Vegetable Oil, and Industrial Products are the primary applications of oilseeds. Vegetable oil dominated the demand for oilseeds with over 60% share in total consumption volume. A growing population is driving the demand for vegetable oils. Moreover, the ever-increasing population demands a higher volume of food commodities. Therefore, food meal is another important application of oilseeds. This, in turn, drives the demand for oilseeds.           

ADM, AGT Food and Ingredients, Bora Agro Foods, Bühler Group, Bunge Limited, Cargill, CHS Inc., Cootamundra Oilseeds, ETG Agro Private Ltd, Kanematsu Corporation, Louis Dreyfus Company, Mountain States Oilseeds, Oilseeds International, Soni Soya Products Limited and Wilmar International are some of the major players in global oilseeds market.

Frequently Asked Questions

Unlike many other industries, global oilseeds market didn’t decline and reported growth rate of around 5% in 2020 over that of 2019

Asia Pacific is the largest regional market with highest share in the total revenue generation of Oilseeds consumed in 2021

Huge demand for vegetable oil across the world is primary market growth driver for the global Oilseeds market

Soybean segment dominated the Oilseeds market in 2021 with over 30% share

Vegetable Oil was the largest Application of Oilseeds in 2021 with over 55% share 

Oilseeds Report Scope

Report Attribute Details
Market Value in 2021 USD 274.85 billion
Market Value in 2028 USD 390.10 billion
CAGR 5.13% between 2022 and 2028
Report coverage Market Size Valuation, Share Analysis and Growth Rate by Segments such as Breeding Type and Application, Company Share, Competitive Landscape and Trends Analysis
Segments covered

Type

Soybean

Sunflower

Cottonseed

Palm kernel

Groundnut

Rapeseed

Copra

Others

Breeding Type

Conventional

Genetically modified

Application

Oilseed Food Meal

Oilseed Feed Meal

Vegetable Oil

Industrial Products

Others

Major Players Analysed ADM, AGT Food and Ingredients, Bora Agro Foods, Bühler Group, Bunge Limited, Cargill, CHS Inc., Cootamundra Oilseeds, ETG Agro Private Ltd, Kanematsu Corporation, Louis Dreyfus Company, Mountain States Oilseeds, Oilseeds International, Soni Soya Products Limited and Wilmar International
Choose License Type
Budget Buying
Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
Godaddy
Published Date:  Apr 2022
Category:  Agriculture
Report ID:   60527
Report Format:   PDF
Pages:   138
Rating:    4.8 (38)
Delivery Time: 24 Hours to 48 Hours   
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