The oilseed market is anticipated to grow at a CAGR of 6.72% from US$305.526 billion in 2022 to US$481.683 billion by 2029.

NOIDA, UTTAR PARDESH, INDIA, May 12, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the oilseed market is projected to grow at a CAGR of 6.72% between 2022 and 2029 to reach US$481.683 billion by 2029.

Oilseeds are the backbone of the world’s agriculture as they are one of the best suppliers of protein, fibre, vitamins, and minerals as well as fats. Besides this, the oil in seeds which is a highly concentrated energy source powerfully overrides the effect. The major objective of oil seeds is to generate oil, which plays a vital role in food and also it produces fatty acids. Additionally, oilseeds also provide a range of cost-effective, healthy, and environment-friendly alternatives to animal proteins.

Oilseeds are multifunctional and contain numerous benefits. For example, traditional methods include their role during cooking. Chia seeds, which are soaked in water, assist in bowel regularity. Also, the chia seed gel can replace eggs in most gastronomical products or can be used as a thickener. The walnut oil seeds produce fatty acids that help to retain the health of the skin. As such, these seeds can also be used in the prevention of cardiovascular disease. Interestingly, sunflowers have found their niche in the pharmaceutical sector because of their beneficial effects.

The growing demand for biofuel production is the primary driving force behind the oilseed market growth. Biofuel production is an ultimate source for the expansion of the oilseed market. As the demand for biodiesel is experiencing rapid growth, oilseeds like soybean and rapeseed step into the positive gainers. For instance, according to the International Energy Agency published a report in 2023 it states that the demand for biofuel is anticipated to rise by 38 billion litres within the forecast period between 2023-2028, which represents a surge of 30% demand rise compared to the last five years data. It is predicted that by 2028 the demand for biofuel will increase to 200 billion litres making a significant surge of 23%.

Oilseeds are the various grains that are harvested to produce the edible oil that can be used in cooking and various other forms. Soybeans and groundnuts are the best examples of oilseeds. The oilseeds are useful in many ways to humans the consumption of oil seeds enhances heart health and glowing skin as these oilseeds consist of various vitamins and proteins, which can also be utilized as food for cattle and sheep.

Numerous product launches and collaborations are taking place in the market thereby, increasing the oil seed market growth.

• For instance, in September 2023: ADM, one of the most famous food processing enterprises, is partnered with the Syngenta Group – the agricultural technology firm. Through a memorandum of understanding, both companies undertake to work together in developing and using innovative low-carbon oilseed technologies. This can be achieved by ADM using its processing knowledge as well as Syngenta’s seed technology expertise, the objective of this collaboration is to create high-yield varieties that meet the rising demand for biofuel and nature-friendly items.

Access sample report or view details: https://www.knowledge-sourcing.com/report/oilseed-market

The oil seed market, based on crop type is segmented into five categories namely canola, rapeseed and mustard, soybean, sunflower, and others. Soybean is expected to account for the major share of the oilseed market. The soybean is a grain that generates a high amount of consumable oil and a protein-enriched food used in animal feed.

The oil seed market, based on type is segmented into two categories namely GMO and conventional. GMO is expected to account for the major share of the oilseed market. The GMO oil seeds like soybean and canola Many times, these crops are specifically designed to achieve greater productivity and resistance to herbicides.

Based on geography, the oil seed market is expanding significantly in the Asia Pacific region due to various factors. In countries like China, India, Japan, South Korea, and Taiwan there is a growing demand for oilseed in various industries, including food, biofuel, cosmetics, and personal care items. The demand is being driven by these nations due to increased population over the period of years with the rise in disposal income and government initiatives towards clean energy and support biofuel generation in the region to enhance the oilseed market in the future.

The research includes several key players from the oilseed market, such as BASF SE, Bayer AG, Bunge Limited, KWS SAAT SE & Co. KGaA, Syngenta, Corteva, and Cargill.

The market analytics report segments the oilseed market as follows:

• By Crop Type

o Canola
o Rapeseed & Mustard
o Soybean
o Sunflower
o Others

• By Type

o GMO
o Conventional

• By Geography

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• Germany
• France
• United Kingdom
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• Israel
• Others

o Asia Pacific

• China
• Japan
• India
• South Korea
• Indonesia
• Taiwan
• Others

Companies Profiled:

• BASF SE
• Bayer AG
• Bunge Limited
• KWS SAAT SE & Co. KGaA
• Syngenta
• Corteva
• Cargill

Explore More Reports:

• Hybrid Seeds Market: https://www.knowledge-sourcing.com/report/hybrid-seeds-market

• Commercial Seeds Market: https://www.knowledge-sourcing.com/report/commercial-seeds-market

• Global Pumpkin Seeds Market: https://www.knowledge-sourcing.com/report/global-pumpkin-seeds-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
email us here
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