Global Oilseeds Seeds Market Size By Type (Type I, Type II), By Application (Application I, Application II), By Region, And Segment Forecasts, 2023 to 2032

The Global Oilseeds Seeds Market was valued at USD 78.5 billion in 2023 and is projected to reach USD 110.3 billion by 2031, registering a CAGR of 4.3% during the forecast period from 2023 to 2031. The market's growth is driven by increasing global demand for vegetable oils, protein meals, and biofuels. Oilseeds such as soybeans, sunflower, canola, and cottonseed play a critical role in addressing the needs of the food, feed, and industrial sectors, which is fueling their market expansion.

Drivers

Rising Demand for Vegetable Oils: Increasing consumption of vegetable oils in food processing, cosmetics, and industrial applications is a significant growth driver.

Expansion of the Animal Feed Industry: The growing livestock sector globally demands protein-rich meals derived from oilseeds, further fueling market growth.

Adoption of High-Yielding Varieties: Advances in biotechnology and the development of genetically modified (GM) seeds are improving crop yields and resistance to pests, supporting the market’s expansion.

Restraints

Environmental Concerns: Intensive cultivation of oilseeds is linked to deforestation and soil degradation, raising sustainability concerns.

Fluctuating Prices: Volatility in the prices of oilseeds and their derivatives impacts market dynamics.

Opportunities

Growing Biofuel Production: Increasing demand for biodiesel derived from oilseeds such as soybeans and canola presents lucrative growth opportunities.

Emerging Markets: Developing countries in Asia-Pacific and Africa offer untapped potential due to rising population and urbanization trends.

Market by System Type Insights

The GM seeds segment accounted for the largest share in 2023, owing to their superior resistance to pests and higher yield potential. However, non-GM seeds are expected to gain traction in Europe and parts of Asia-Pacific due to regulatory constraints and consumer preferences for organic products.

Market by End-use Insights

Food Processing Industry: Dominated in 2023 due to the large-scale use of oilseeds in edible oil production.

Animal Feed Industry: Expected to grow significantly during the forecast period as protein-rich meals continue to replace traditional feed ingredients.

Biofuel Industry: A high-growth segment driven by policies promoting renewable energy sources.

Market by Regional Insights

North America: Held the largest market share in 2023, supported by advanced agricultural practices and high demand for biofuels.

Asia-Pacific: Anticipated to experience the highest growth rate, driven by increasing consumption of vegetable oils and expanding livestock industries in China, India, and Southeast Asia.

Europe: Focused on sustainable and organic cultivation, with a growing preference for non-GM seeds.

Competitive Scenario

Key players include Bayer CropScience, Syngenta AG, Corteva Agriscience, BASF SE, and Monsanto. These companies are focusing on the development of drought-resistant and high-yielding varieties, mergers and acquisitions, and regional expansion to gain a competitive edge.

Scope of Work – Global Oilseeds Seeds Market

Key Market Developments

January 2024: Bayer launched a new drought-resistant soybean variety in North America, enhancing crop yield under adverse weather conditions.

April 2023: Corteva Agriscience announced the expansion of its GM canola seed production facility in Canada.

September 2023: Syngenta partnered with a leading agricultural research institute in Asia-Pacific to develop pest-resistant oilseed varieties for the region.

FAQs

What is the current market size of the Global Oilseeds Seeds Market?

The market was valued at USD 78.5 billion in 2023.

What is the major growth driver of the Global Oilseeds Seeds Market?

Rising demand for vegetable oils and biofuels is the primary growth driver.

Which is the largest region during the forecast period in the Global Oilseeds Seeds Market?

North America is expected to dominate the market.

Which segment accounted for the largest market share in the Global Oilseeds Seeds Market?

The GM seeds segment held the largest market share in 2023.

Who are the key market players in the Global Oilseeds Seeds Market?

Major players include Bayer CropScience, Syngenta, Corteva Agriscience, BASF SE, and Monsanto.