Oilseeds Market

• Rising government initiatives are a strong trend that boosts oilseeds market growth.

Governments worldwide are taking action to increase the production of oilseeds and reduce expensive imports of vegetable oil. For instance, the Indian government established the National Mission on Oilseeds and Oil Palm in August 2021 to boost domestic oilseed production and achieve edible oil self-sufficiency. The government would spend over 110 billion rupees ($1.48 billion) through the National Mission on Oilseeds and Palm Oil to give farmers everything they require, including better seeds and technology.

The seeds division of Bayer AG was purchased by India-based agrochemical company Crystal Crop Protection Ltd in December 2021 for an unknown sum. The purchase comprises hybrid grain sorghum, cotton, mustard, pearl millet, and seeds. With this purchase, Crystal Crop hopes to be among the leading corporations' seed businesses. And also, the acquisition would strengthen the field crop seed business and make it a strong integrated Agri-Input player. Bayer AG is a Germany-based company that produces better oilseeds, which helps to meet consumer demand for healthy, great-tasting foods.

Therefore, the oilseeds market grew from $268.13 billion in 2022 to $290.01 billion in 2023 at a market CAGR of 8.2%.

However, the growing usage of oilseeds in animal feed is another factor driving the growth of the Oilseeds market revenue.

The Global Oilseeds Market Industry is characterized by various trends and projections that shape its future. The market is anticipated to grow from 197.1 USD Billion in 2024 to 309.3 USD Billion by 2035, indicating a robust expansion. The projected CAGR of 4.18% from 2025 to 2035 suggests a steady increase in demand for oilseeds, driven by factors such as rising population, dietary changes, and biofuel production. This growth trajectory highlights the importance of oilseeds in global agriculture and food systems, as they play a crucial role in meeting the nutritional needs of an expanding population.

The Global Oilseeds Market Industry is significantly influenced by the expansion of biofuel production, particularly biodiesel derived from oilseeds such as soybean and canola. Governments worldwide are increasingly implementing policies to promote renewable energy sources, which has led to a rise in biofuel demand. For instance, the European Union has set ambitious targets for renewable energy usage, further driving the need for oilseed crops. This trend is expected to contribute to the market's growth, with projections indicating a potential increase to 309.3 USD Billion by 2035. The biofuel sector's reliance on oilseeds underscores their critical role in sustainable energy solutions.

The Global Oilseeds Market Industry experiences a notable surge in demand for plant-based proteins, driven by the increasing consumer preference for vegetarian and vegan diets. This trend is particularly evident in regions such as North America and Europe, where health-conscious consumers are seeking alternatives to animal proteins. As a result, oilseeds like soybeans and peas are becoming essential sources of protein. The market is projected to reach 197.1 USD Billion in 2024, reflecting the growing importance of oilseeds in food production and nutrition. This shift towards plant-based diets is likely to sustain the industry's growth trajectory in the coming years.

The Global Oilseeds Market Industry is witnessing a shift in consumer behavior, with increasing health awareness driving the demand for healthier food options. Consumers are becoming more informed about the nutritional benefits of oilseeds, such as their high content of omega-3 fatty acids and essential vitamins. This trend is particularly pronounced in Asia-Pacific regions, where traditional diets are evolving to incorporate more oilseed-based products. As a result, the market is expected to grow, reflecting the changing dietary preferences and the rising popularity of health-oriented foods. This growing awareness may further solidify oilseeds' position in the global food supply chain.

Technological advancements in agriculture are reshaping the Global Oilseeds Market Industry by enhancing crop yields and improving farming practices. Innovations such as precision agriculture, genetically modified organisms, and advanced irrigation techniques are enabling farmers to cultivate oilseeds more efficiently. For example, the adoption of drought-resistant soybean varieties has shown promising results in regions facing water scarcity. These advancements not only increase productivity but also contribute to sustainability efforts within the industry. As the global population continues to grow, the demand for oilseeds is likely to rise, supporting the industry's expansion and potentially achieving a CAGR of 4.18% from 2025 to 2035.

The Global Oilseeds Market Industry is affected by global trade dynamics and the resilience of supply chains. Fluctuations in trade policies, tariffs, and geopolitical tensions can impact the availability and pricing of oilseeds. For instance, trade agreements among major producers and consumers can facilitate smoother transactions and stabilize prices. Additionally, the COVID-19 pandemic has highlighted the need for robust supply chains in the agricultural sector. As countries work to enhance their supply chain resilience, the oilseeds market may experience shifts in production and consumption patterns, ultimately influencing market growth and stability.

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North America Oilseeds market accounted for USD 182.6 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. The increased use of cooking oil in regular cooking increases oilseed production. Moreover, soybean production in the United States has increased, so the growth in soybean oil consumption continues to accelerate the market's growth.

Further, the significant countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Oilseeds Market Share By Region 2022 (%)

Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

Europe's Oilseeds market accounts for the second-largest market share. This is brought on by the increased usage of cooking oil in everyday cooking, which boosts oilseed production. Europe also holds a substantial market share with significant canola and sunflower seed production.

Further, the Germany Oilseeds market held the largest market share, and the UK Oilseeds market was the fastest-growing market in the European Region.

The Asia-Pacific Oilseeds Market is expected to grow at the fastest CAGR from 2022 to 2030 due to the growing food processing industry and increasing soybean production. Moreover, the China Oilseeds market held the largest market share, and the India Oilseeds market was the fastest-growing market in the Asia-Pacific region.

For instance, the India Oilseeds market is considered the 4th largest producer; about 39.46 million tons of oilseeds were produced in 2018. Furthermore, soybean is the most important crop grown in India and hit 95% of the total production, increasing the use of soybean oil and thus driving market growth.

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Oilseeds market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the oilseeds industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

Manufacturing locally to reduce operating costs is one of the primary business strategies manufacturers adopt in the oilseeds industry to benefit clients and expand the market sector. In recent years, Despite the ongoing health crisis, organic, vegan, bio-based, clean label, and sustainable are the highest-selling categories in the Oilseeds industry due to rising health, ingredient, and environmental concerns. The Oilseeds market major player such as BASF SE (Germany), Monsanto Company (US), Groupe Limagrain Holding (France), Syngenta (Switzerland), DuPont (US), Nuziveedu Seeds Ltd (India), Land O'Lakes Inc. (US), Cargill, Incorporated (US), Seed Co Limited (South Africa), Mahyco Seeds Company Limited (India).

The seeds division of Bayer AG was purchased by India-based agrochemical company Crystal Crop Protection Ltd for an unknown sum. The purchase comprises hybrid grain sorghum, cotton, mustard, pearl millet, and seeds. Crystal Crop hopes to rank among the top organizations in the seed industry with this acquisition. Additionally, by strengthening the field crop seed industry, the acquisition would transform it into a powerful integrated Agri-Input player. Better oilseeds are produced by Bayer AG, a German corporation, helping to satisfy consumer demand for wholesome, delectable foods.

Sodrugestvo is currently the largest oilseed crusher in Russia. Sodrugestvo has developed a unique network of storage and distribution facilities. Sodrugestvo Group purchased a multi-oilseeds processing plant in Turkey in December 2018. With this acquisition, Sodrugestvo can provide better service to its clients in Turkey and the Middle East/North Africa.