According to the DataM market research report, the global Oilseeds market is growing at a CAGR of 5.17% over the forecast period 2023-2030.

CLEVE LAND , OHIO, USA, March 14, 2023 /EINPresswire.com/ -- Market Overview:

Oilseeds are used to grow oil-producing plants like canola, sunflower, soybean, and cotton. The seeds, nuts, or fruits of these oil crops are either eaten as food or crushed to extract oil for use in food, biofuel, oleochemicals, and other industries. Farmers are investing more in the production of oil crops with high-quality oilseeds as a result of the ongoing increase in demand for oilseed extracts.

Market Size Growth Rate:

According to the DataM market research report, the global Oilseeds market size was valued at US$ YY billion in 2022, it is projected to reach US$ YY billion by 2030, with growth at a CAGR of 5.17% over the forecast period 2023-2030.

Due to the increased demand for soybean oil owing to its nutritional value, the market is flourishing as a result of this increase in production. The demand for healthy and organic oilseed-processed products, public-private partnerships in varietal development, and molecular breeding in oilseeds are some of the factors boosting the market for oilseeds.

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Market Drivers:

The market expansion is anticipated to be fueled by the growing use of oilseeds in animal feed. Fatty acids, oil, minerals, protein, vitamins, and fiber are all abundant in oilseeds and are frequently used in the process of extracting oil. The nutrient-rich pulp left over after oilseed oil extraction is turned into meals or oilcake and fed to dairy farm animals to increase milk production and quality while reducing feed requirements. For instance, the total production of oil meal in 2021 was estimated by the U.S. Department of Agriculture (USDA), a US-based organization that provides services to the agricultural sector. About 70–80 per cent of India's total amount of oilseeds are crushed to create meals, and the resulting oil and meal are used.
Additionally, oilseeds are highly sought-after due to their numerous uses. In cosmetic products, oil seeds like sunflowers are used as a type of moisturizer. After food grains, oil seeds are India's second-largest agricultural export. People are choosing vegetable oil over animal fat because they place a higher priority on their health. Another type of vegetable oil that is widely used in varnishes, paints, and lubricants is linseed oil. Thus, it is anticipated that the market's growth rate will be driven by the rising demand for oilseeds for a variety of applications.

Market Restraints:

During the forecast period, it is anticipated that the new plant biotechnology traits' long growing seasons and declining planting rates will serve as the main market restraints. Government regulations and shifting weather patterns will also be major short-term obstacles to market expansion.

Market Opportunities:

In the oilseeds market, rising government initiatives are a significant trend that is gaining popularity. Governments around the world are taking steps to increase the production of oilseeds and reduce the expensive importation of vegetable oil. For instance, in August 2021, the Indian government announced the launch of its National Mission on Oilseeds and Oil Palm. This plan aims to increase local oilseed production and achieve self-sufficiency in edible oil. The government invested more than 110 billion rupees ($1.48 billion) through the National Mission on Oilseeds and Palm Oil to provide farmers with everything they require, including better tools and seeds.

COVID-19 Impact Analysis:

Due to an unprecedented COVID-19 pandemic, oilseed demand has increased due to an increase in oilseed production and household demand for edible oil. Additionally, due to the dynamic shifts in consumption patterns, more people were cooking at home, where edible oil is used frequently. Due to the unprecedented demand for oilseeds, both the export and import of those commodities significantly increased. For instance, According to the Ministry of Food and Consumer Affairs Oilseed production in India increased by 19% to 37.15 million tons in 2021–2022 from 31.52 million tons in 2018–19. In fact, the country's production of oilseeds has increased significantly over the past four years, going from 33.22 million tons in 2019–20 to 35.95 million tons in 2020–21.
Recent Developments in the Industry:

On 26 December 2022, NMEO received approval for the launch of the National Mission on Edible Oils with a Rs 11,040 crore budget. In the following five years, this will add an additional 6.5 lakh ha to the area planted with oil palm, of which 3.28 lakh ha will be in the north-eastern states and 3.22 lakh ha in the rest of India. The mission's primary goal is to offer farmers viable prices for fresh fruit bunches (FFBs) linked to assured industry procurement using a less complex price-fixing formula.

On February 09, 2023, Cargill India launched an edible oil brand. In four South Indian States, the business introduced Gemini Pureit, a sunflower oil.
On 18 July 2022, Eni launched the first production of vegetable oil for biorefining in Kenya.

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Market Segmentation:

As per the research analysis, the global oilseeds market is segmented based on product type into soybean, sunflower, cottonseed, palm kernel, groundnut, rapeseed, copra, and others, by category into conventional and genetically modified, by application into oil seed meal and vegetable oil.
Based on product type, the market was most heavily influenced by the soybean segment. The demand for animal feed is high, especially in developing countries like China, Brazil, India, Korea, and others, where the rapid rise in living standards allows the average consumer to eat more meat, soy production has increased and is expected to continue to rise. In addition, it is anticipated that a significant increase in demand for vegetable oil derived from soybeans for use as a biodiesel feedstock will boost soybean production, supporting the expansion of the oilseeds market.

Geographical Classification:

The global oilseedS market is segmented into major countries, including North America, Europe, South America, Asia Pacific and Middle East & Africa.

Asia-Pacific Oilseeds Market:

Due to rising growth in the food processing industry and rising soybean production, Asia Pacific is anticipated to have the fastest growing market during the forecast period of 2022–2030. In 2022, about 1,750 million tons of soybean oil was produced in India, which is ranked third in the world for oilseed production and exported 15 million tons according to USDA.

Europe Oilseeds Market:

Oilseed production is one of the largest in the European Union. The demand for vegetable oils in this region has increased due to changing eating habits and a desire for exotic flavours. The main driver of the oilseed market in Europe is the rise in the use of vegetable oils for cooking and the expanding food industry. The oilseed market is being driven by price reductions brought on by new processing equipment, the development of an efficient extraction process, and high penetration of retail and wholesale distribution channels in both rural and urban areas.

Competitive Analysis:

There are numerous international, regional and local suppliers in the global oilseeds industry. The competition in the local market is fierce. The vendors compete based on price, product quality, dependability and aftermarket services. As a result, to prosper and survive in a competitive market, suppliers must provide cost-efficient and effective products.

Major Companies:

Due to the existence of numerous local and international markets, the market for oilseeds is extremely competitive. Barriers to new entrants include revenue generation, opportunities, and product diversification. The top players on the market, who hold a sizeable portion of the market, are Cargill, Buhler Group, Bunge Limited, Wilmar International, Loius Dreyfus Company, AGT Food and Ingredients, CHS Inc., and Oilseeds International among others.

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1) Unlimited Analyst support for a period of 1 year.
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The Full Report has the below insights:

The report offers a comprehensive evaluation of the market in terms of market value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2021-2022) and verifiable projections about market size during the forecast period (2023-2030).

Visualize the composition of the global oilseeds market segmentation by product type, category, application, and region, highlighting the key commercial assets and players.

By Product Type: Soybean, Palm Kernel, Rapeseed, Sunflower, Cottonseed, Groundnut, Copra, Others
By Category: Conventional, Genetically Modified
By Application: Oilseed Meal, Vegetable Oil
By Region: North America, South America, Europe, Asia Pacific, Middle East & Africa
Identify commercial opportunities in the global oilseeds market by analyzing trends and co-development deals.

The report also covers data insights on various industry forces such as, porter's five forces analysis, supply chain analysis, pricing analysis, regulatory analysis.

Excel data sheet with thousands of data points of global Oilseeds market-level 4/5 segmentation.
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Product mapping in excel for the key product of all major market players
The report will provide access to approximately 61 market data tables, 55 figures and close to 180 pages.

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