The oilseeds market is estimated to account for a value of USD 250.0 billion in 2019 and is projected to grow at a CAGR of 5.0% from 2019, to reach a value of USD 335.0 billion by 2025. 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 driving the growth of the oilseeds market.
The soybean segment is estimated to account for a larger market share, in terms of value, in 2019
The soybean segment dominated the market for oilseeds as nearly 85% of the oilseeds that are produced in the world are processed and crushed to manufacture soybean meal and oil. There has been an increase in the number of areas, in which soybeans finds applications. Due to these factors, the market is projected to witness significant growth.
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The genetically modified segment is estimated to witness the fastest growth in the oilseeds market, in terms of value, in 2019
The genetic modification of oilseeds improves the quality and production of oil. The high demand for competitive and economically priced vegetable oil has led to an increase in the preference for genetically modified seeds. Genetically engineered oilseeds are being used as an important ingredient in the functional foods industry. This widespread demand and an increase in the application areas are some of the factors, due to which the market is projected to witness faster growth.
The vegetable oil segment, by application, is estimated to account for the largest market share, by value, in 2019
Based on application, the oilseed market is segmented into vegetable oil and oilseed meal. The oilseed meal segment is further segmented into food, feed, and industrial products. The food products segment is further segmented into bakery & confectionery products, sauces, spreads, and dressings, meat products, and others, which include baby food, isolated proteins, and cereals. The vegetable oil segment is further segment into food products and industrial products. The food products segment within the vegetable oil segment is further segmented into bakery & confectionery products and sauces, spreads, and dressings. The vegetable oil segment is estimated to hold the largest market share in 2019 due to the consistent increase in demand from the fats & oils industry for the production of cooking oils, margarine, and baking fats. This demand is driven by the growth in population and change in the food preferences of consumers as well as an increase in disposable income.
The demand for healthy and organic oilseed-processed products has created opportunities for oilseeds manufacturers
The increasing number of health-conscious consumers and growing awareness about the adverse effects of trans-fatty acids among the consumers are factors projected to drive the demand for food products that contain low trans-fat levels during the forecast period. Manufacturers are developing food products that use healthier oils instead of trans-fatty acids. They are also developing high-stability oils such as high oleic sunflower, linolenic canola, and low linoleic soybean, to seek emerging opportunities.
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The increasing demand for oilseeds in the North American and European regions is driving the growth of the oilseeds market.
The North American and European countries are witnessing increasing demand for oilseeds for use mainly in the food and feed industries. Favorable trade and price support systems have encouraged trade in oilseeds in the US. However, countries in Europe witness high demand for organic products, due to which the demand for conventional oilseeds remains high.
Key players in this market include Archer Daniels Midland (US), Cargill (US), Wilmar International (Singapore), and Bunge Limited (US). Major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
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