Oilseed Farming Market

Global Oilseed Farming Market Size (2024 to 2032)

The global oilseed farming market was valued at USD 275.65 billion in 2023 and is anticipated to reach USD 289.41 billion in 2024 from USD 427.62 billion by 2032. Growing at a CAGR of 5.0% from 2024 to 2032.

Partnerships between public and private companies to develop various techniques in oilseed farming are creating growth opportunities for the oilseed farming market.

Oilseed farming is typically done in the open fields. The oilseed crop is known as one of the fastest-growing crops. Oilseeds are mainly cultivated to extract the oil for industrial use. The oil extracted from the seeds is highly used in various applications, especially in the food and cosmetic industries. The residue of oil remains after the extraction of oil from the seeds is fed to the animals. The oil extracted is widely in food products for human consumption.

Market Drivers

Increasing incidences of chronic diseases and the rising prevalence of the cultivation of oilseed are major driving factors for the market growth. Growing consumers demand healthy and organic-based products is leveraging the growth rate of the oilseed farming market. Along with this, increasing awareness of increasing the production rate with the latest technologies is increasing the demand in the market. The adoption of the latest technologies, like precision farming, is helping the farmers to know more about the weather, soil, and air quality. These techniques will promote the production rate of the crop and enhance efficiency. Growing investments in agriculture by governments across the world are greatly influencing the growth rate of the market. In addition, the rising scale of the food and beverages industries is escalating the demand for the oilseed farming market. Also, many oilseed products have various applications in the cosmetic industry that are likely to fuel the market growth rapidly. The trend towards healthy food habits is anticipated to propel the demand for the oilseed farming market. Rising consumption of edible oil across the globe and increasing applications of oil in industries are some other factors elevating the demand of the market.

Market Restraints

However, fluctuations in the production rate are slowly degrading the demand of the market. Rapid urbanization is also a factor hampering the growth rate of the oilseed farming market. Unfavorable government regulations in approving the new products are slowly degrading the oilseed farming market. Besides, the high cost of the techniques used to extract the oil that farmers could not afford is inhibiting the demand of the market to some extent. Frequent changes in climatic conditions are also a factor degrading the demand of the oilseed farming market.

Impact of COVID-19 on the Oilseed Farming Market

COVID-19 is a disease caused by the strain coronavirus. This is a novel coronavirus first identified in Wuhan in December 2019. World Health Organization (WHO) recognized the severity of the spread of the coronavirus and gave alerts to the world. However, due to the high severity of the disease, millions of people lost their lives. Due to the pandemic, many industries have suffered to sustain in the market. Companies slowly started their operations by implementing different strategies after recovering from the impact of COVID-19. Lockdown restrictions and the closure of commercial activities across the globe decreased the shares of the market during this period. However, the oilseed farming market is to grow at the highest CAGR during the forecast period.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Oilseed Farming Market By Type

The rapeseed segment is holding the dominant share of the market. The increasing population and rising demand for organic food products are leveling up the growth rate of this segment. The sunflower segment is expected to have significant growth opportunities in the coming years, owing to the quick adoption of the latest technologies.

Global Oilseed Farming Market By Category

The genetically modified segment is gaining traction over the shares of the market. The conventional segment is holding with the highest CAGR. This is cheaper and also increases the soil quality, which increases the production rate. Hence, this segment is growing at a higher rate.

According to the application, the oilseed farming market segments are oilseed meal and vegetable oils. The Oilseed meal segment is ruling with the dominant shares of the market, where the demand for the vegetable oil segment has been growing higher for the past few years.

REGIONAL ANALYSIS

The Asia Pacific has dominated the market shares in recent years. In 2020, Asia Pacific's oilseed farming market accounted for 42% of the total. India and China are the major contributors to the market shares. Increasing demand for farming and producing high-quality crops with the latest technologies are enhancing the demand of the market. Growing support from government bodies to increase the economy through the agriculture sector is making the market grow at a higher rate.

North America is after the Asia Pacific, is leading the largest shares of the market with the rising prevalence of quality skincare products. Rising demand for biofuels from the automotive industry is also ascribed to bolster the growth rate of the market. Favorable trade systems in the US are expanding the growth rate of the oilseed farming market.

Europe is expected to have the highest CAGR in the forecast period. The high economy and increasing disposable income are two major factors for the market to grow tremendously in this region. Growing support for conventional oilseeds in developed countries is likely to boost the demand for the oilseed farming market. A growing number of food & beverages industry is anticipated to promote the growth rate of the market.

KEY MARKET PLAYERS

Top key players in the oilseed farming market are, Cargill (US), CHS Inc. (US), Oilseeds International (US), Wilmar International (Singapore), Cootamundra Oilseeds (Australia), AGT Food and Ingredients (Canada), Louis Dreyfus Company (Netherlands), Mountain States Oilseeds (US), Soni Soya Products Limited (India), Archer Daniels Midland (US), Bühler Group (Switzerland), Bunge Limited (Netherlands), Kanematsu Corporation (Japan), Bora Agro Foods (India), ETG Agro Private Ltd (Africa). Some of the market players dominate the global oilseed farming market.

DETAILED SEGMENTATION OF THE GLOBAL OIL SEED FARMING MARKET INCLUDED IN THIS REPORT

This research report on the global oilseed farming market is segmented and sub-segmented based on product, crop type, category, and region.

By Type

• Rapeseed
• Soybean
• Sunflower
• Groundnut
• Cottonseed
• Copra
• Palm Kernel

By Category

• Genetically Modified
• Conventional

By Region

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa