Oilseeds Market To Boom at USD 501.5 Bn by 2034

Updated · Mar 13, 2025

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Table of Contents

Overview
Key Takeaways
Report Scope
Key Market Segments
Regional Analysis
Top Use Cases
Recent Developments
Conclusion

Overview

New York, NY – March 13, 2025 – The Oilseeds Market is on a steady climb, anticipated to jump from a robust USD 310.8 billion in 2024 to an even more impressive USD 501.5 billion by 2034, marking a healthy growth rate of 4.9% annually.

This growth is fueled by a soaring demand for various oilseed products such as soybeans, canola, and sunflowers, which are essential for a myriad of uses from cooking oils to biofuels. The market’s popularity hinges on the global push for healthier eating habits and sustainable agricultural practices, making oilseeds a critical component in both the food and industrial sectors.

Additionally, as economies expand and more consumers opt for plant-based diets, the opportunities in the oilseeds market are expanding. Innovations in seed genetics and farming techniques also promise to enhance yields and quality, paving the way for significant market expansion over the next decade. This dynamic market environment presents a fertile ground for both existing players and new entrants to grow and prosper.

Key Takeaways

The Global Oilseeds Market is projected to grow from USD 310.8 billion in 2024 to USD 501.5 billion by 2034, at a CAGR of 4.9%.
Soybeans dominated the oilseeds market with a 58.4% share in 2024, with rapeseed following closely.
Edible oil accounted for 73.2% of the oilseeds market in 2024 due to rising health-conscious consumer demand.
Genetically modified oilseeds held a 68.3% market share in 2024, boosting crop yields and reducing environmental stress.
Herbicide-tolerant oilseeds made up 58.4% of the oilseeds market share in 2024.
Oilseed Meal held a dominant market position, capturing more than a 43.3% share
North America held a dominant position in the oilseeds market, capturing a substantial 38.4% share, with a market value of approximately USD 119.3 billion.

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Report Scope

Market Value (2024)	USD 310.8 Billion
Forecast Revenue (2034)	USD 501.5 Billion
CAGR (2025-2034)	4.9%
Segments Covered	By Oilseed Type (Copra, Cottonseed, Palm Kernel, Peanut, Rapeseed, Soybean, Sunflower Seed), By Product (Animal Feed, Edible Oil), By Breeding Type (Genetically Modified, Conventional), By Biotech Trait (Herbicide Tolerant, Insecticide Resistant, Others), By Application (Oilseed Meal, Vegetable Meal)
Competitive Landscape	Cargill, Archer Daniels Midland, Bühler Group, Bunge Limited, AGT Food and Ingredients, Louis Dreyfus Company, Mountain States Oilseeds, Soni Soya Products Limited, Kanematsu Corporation, CHS Inc., Oilseeds International, Wilmar International, Cootamundra Oilseeds, Bora Agro Foods, ETG Agro Private Ltd

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Key Market Segments

By Product

Edible Oil emerged as the leading segment in the global oilseeds market, commanding a significant 73.2% share. This dominance is fueled by the rising demand for vegetable oils in household cooking, commercial food production, and the food service sector. Edible oils extracted from oilseeds like soybean, sunflower, and palm kernel are integral to daily culinary and industrial applications. The growing preference for healthier oil alternatives, such as sunflower and canola oils, which are lower in saturated fats and richer in omega-3 fatty acids, has further propelled the growth of this segment.

By Breeding Type

Genetically modified (GM) oilseeds dominated the market in 2024, accounting for 68.3% of the global share. The widespread adoption of GM oilseeds, particularly soybeans, cotton, and canola, is driven by their ability to deliver higher yields, enhanced pest resistance, and improved resilience to environmental challenges. These traits have made GM oilseeds a preferred choice among farmers seeking to optimize productivity and sustainability.

By Biotech Trait

Herbicide-tolerant oilseeds led the market in 2024, securing a 58.4% share. The popularity of herbicide-tolerant crops is attributed to their cost-effectiveness and efficiency in weed management. Engineered to withstand specific herbicides, these oilseeds enable farmers to control weeds without harming crops, thereby improving overall agricultural productivity.

By Application

Oilseed Meal held a leading position in 2024, capturing a 43.3% share of the global oilseeds market. As a by-product of oil extraction, oilseed meal is primarily utilized as high-protein animal feed. The segment’s growth is driven by increasing global demand for livestock products and the need for efficient, nutrient-rich feed solutions to support the expanding animal husbandry sector.

Regional Analysis

North America solidified its position as the dominant region in the oilseeds market, holding a 38.4% share and a market value of approximately USD 119.3 billion. The United States, a key producer and consumer of oilseeds, particularly soybeans, is the primary driver of this growth. Demand in North America is fueled by the widespread use of oilseed-based products in food processing, animal feed, and biodiesel production. Innovations in biotech traits, such as herbicide-tolerant and insect-resistant oilseeds, have further accelerated market expansion in the region.
Europe remains a significant market, with demand driven by both food and industrial applications, particularly in countries like France, Germany, and Russia. The region’s emphasis on sustainability and organic farming practices is shaping oilseed production, with a growing focus on non-GMO and organic oilseeds. Looking ahead to 2025, the European oilseeds market is expected to maintain steady growth, supported by sustainability initiatives such as the EU’s Farm to Fork strategy.
The Asia Pacific region is experiencing rapid growth in the oilseeds market, driven by emerging economies like China and India. Factors such as population growth, urbanization, and rising disposable incomes are boosting demand for oilseeds, particularly for edible oils and animal feed. China’s substantial soybean imports play a pivotal role in the region’s market expansion, further solidifying Asia Pacific’s position in the global oilseeds landscape.

Top Use Cases

Food Industry: Oilseeds like soybean and sunflower are crushed to extract oil, which is a primary ingredient in cooking and food processing. This oil is used for frying, baking, and as a dressing base, making it a staple in kitchens globally.
Animal Feed: The meal left after oil extraction, especially from soybeans, is a high-protein feed for livestock. This use case supports the dairy and meat industries by providing a cost-effective feed solution that promotes healthy growth in animals.
Biofuels: Oilseeds such as canola and soybean are increasingly used to produce biofuels. This green alternative to fossil fuels reduces greenhouse gas emissions and utilizes renewable resources, supporting energy sustainability.
Cosmetics and Personal Care Products: Oilseed extracts, such as those from flaxseeds and grapeseeds, are rich in antioxidants and vitamins, making them valuable ingredients in skincare and haircare products. These oils help moisturize and repair skin and hair.
Industrial Applications: Beyond food and fuel, oilseeds like castor are crucial in manufacturing bioplastics, lubricants, and paints. These applications demonstrate the versatility of oilseeds, extending their utility to various industrial sectors.

Recent Developments

1. Cargill

Partnership with Shell: Cargill partnered with Shell in 2023 to develop and scale the use of biofuels, including those derived from oilseeds like soybeans and canola, to reduce carbon emissions in the transportation sector.
Innovation in Sustainable Agriculture: Cargill has been working on regenerative agriculture programs for oilseed farmers, focusing on improving soil health and reducing greenhouse gas emissions.

2. Archer Daniels Midland (ADM)

Acquisition of Revela Foods: In 2023, ADM acquired Revela Foods, a developer of dairy protein alternatives, which includes the use of oilseeds like soybeans for plant-based protein production.
Partnership with Marathon Petroleum: ADM partnered with Marathon Petroleum in 2023 to produce renewable diesel from soybean oil, contributing to the renewable energy sector.

3. Bühler Group

Innovation in Oilseed Processing: In 2023, Bühler launched new technologies for oilseed processing, including energy-efficient extraction methods and digital solutions for optimizing production.
Partnership with Nestlé: Bühler partnered with Nestlé to develop sustainable processing solutions for plant-based proteins, including those derived from oilseeds like soybeans and sunflower seeds.

4. Bunge Limited

Acquisition of Viterra: In 2023, Bunge announced a merger with Viterra, a global agricultural commodity trader, to strengthen its oilseed processing and distribution network.
Partnership with Chevron: Bunge partnered with Chevron in 2023 to produce renewable fuels from soybean oil, aiming to reduce carbon emissions.

5. AGT Food and Ingredients

Partnership with Cargill: AGT partnered with Cargill in 2023 to develop plant-based protein products using oilseeds like canola and flaxseed.
Innovation in Sustainable Packaging: AGT introduced biodegradable packaging for its oilseed-based products in 2023, reducing environmental impact.

Conclusion

The Oilseeds Market is set to continue its growth trajectory, driven by increasing consumer demand for healthier dietary options and the ongoing shift toward sustainable agricultural practices. Innovations in seed technology and farming methods are expected to improve yields and reduce environmental impacts, further fueling market expansion.