The global oilseed market was valued at USD 306.2 billion in 2023 and is anticipated to reach USD 322.12 billion in 2024 from USD 483.22 billion by 2032, growing at a CAGR of 5.2% from 2024 to 2032.
The seeds of a plant, when used as a source of vegetable oil, are called oilseeds. Though oil can be extracted from many parts of the plant, seeds are primarily used for commercial purposes. Oil is extracted from seeds by a machine known as an oilseed press. Over the course of time, several oilseed presses have been designed to improve efficiency and make the process cost-effective.
Vegetable oils are generally used as ingredients in food to improve the texture and to impart certain flavors. Some of the oils with high flash points such as sunflower oil and soybean oil are used as cooking oils. Apart from its applications in cooking, vegetable oils are used in making soaps, perfumes and cosmetic products. They are also used as biofuels and in the manufacture of some pet foods.
An increase in the consumption of vegetable oils for cooking purposes and the growing food industry are the major factors driving the oilseed market. Reduction in prices due to the new processing equipment and development of an effective extraction process, as well as the high penetration of retail and wholesale distribution channels in rural and urban areas, are propelling the oilseed market. Stringent government regulations on manufacturing and exports and loopholes in distribution channels are restraining the growth of the market.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2032 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2032 |
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CAGR |
5.2% |
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Segments Covered |
By Type, Application and Region. |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Dow AgroSciences, Gansu Dunhuang Seed Co Ltd, Syngenta, Burrus Seed farm, ADM Ölmühle Hamburg, Hefei Fengle Seed Co Ltd, Diester Industrie, Land O’Lakes Inc, Green BioFuels Corporation, President Rice Products, Acecook Vietnam and Others. |
Soybean leads the oilseed market and it is also expected to be the fastest-growing market segment. It is due to its higher production and increased demand for household consumption.
Household consumption is the largest application of oilseeds due to the rapidly growing food service industry. The service application is the fastest-growing market segment. Also, due to the increasing focus on alternative fuel sources, the use of vegetable oils as biofuels is rising significantly. Based on the biotech trait, the market is categorized into Insecticide resistant, herbicide-tolerant, and other traits.
North America leads the oilseed market as the U.S is the largest producer of Oilseeds in the world. The Asia Pacific is the fastest-growing market for oilseeds due to the large production of oilseeds by India and China and the large consumption of vegetable oils as well.
Dow AgroSciences, Gansu Dunhuang Seed Co Ltd, Syngenta, Burrus Seed farm, ADM Ölmühle Hamburg, Hefei Fengle Seed Co Ltd, Diester Industrie, Land O’Lakes Inc, Green BioFuels Corporation, President Rice Products, Acecook Vietnam, some of the market players dominate the global oilseed market.
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