The Global Oilseed Market (seed For Sowing) is projected to register a CAGR of 4.14%. Key Highlights. Largest Segment by Crop – Soybean : Soybean is the largest segment in the market because of the increase in oil prices and the availability of new improved seed varieties for higher Return on Investment (ROI).
New York, Jan. 23, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Oilseed Market (seed For Sowing) – SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028” – https://www.reportlinker.com/p06381356/?utm_source=GNW
Largest Segment by Country – United States : It is the largest country due to the high demand for consumption, a leading exporter of oil crops, an increase in the generation of biodiesel, and high-profit margins.
Fastest-growing Segment by Crop – Canola, Rapeseed & Mustard : It is the fastest growing segment because of high demand by processing industries, improved seeds available for cultivation, and an increase in the cultivation area globally.
Fastest-growing Segment by Country – Thailand : It is the fastest growing country due to the availability of advanced transgenic traits for better productivity and an increase in the cultivation area for biotech oil crops.
Key Market Trends
Hybrids is the largest segment by Breeding Technology.
In 2022, hybrid seeds had more share than open-pollinated seed varieties because hybrid seeds are drought resistant, have wider adaptability to different regions and weather conditions, and high-quality oil crops are produced by using hybrid seeds.
Globally, in 2022, the non-transgenic hybrid oilseed market share was about 47.8% of the hybrid oilseed market because of the transgenic crops banned in Europe and growing awareness among the people about the benefits of consuming non-GMO food.
Soybean is expected to have the largest share in the hybrid segment during 2022-2028 because the crop provides higher profit to growers due to rising oil prices. Transgenic oil crops are not cultivated in Europe and Africa, and the soybean crop has a high oil content.
The Asia-Pacific is expected to be the fastest-growing region using herbicide-tolerant traits during the forecast period, registering a CAGR of 5.6% because of the change in the government policy of countries in Asia-Pacific. For instance, in 2021, China changed its policy with a new biosafety framework and encouraged more transgenic seeds used for cultivation in the country.
Globally, open-pollinated seed varieties are used less as compared to hybrid seed varieties because open-pollinated seed varieties are not resistant to diseases and can be attacked easily by weeds. Thus, to minimize crop loss due to weeds and insects, growers use hybrid seed traits that have characteristics such as disease tolerance and insect resistance.
Thus, benefits, such as higher yield and resistance to diseases, will help drive the hybrid seed segment, but open-pollinated seed varieties will be used by small-scale farmers to gain higher profits by minimizing crop input costs.
North America is the largest segment by Region.
Oilseed crops contributed 18.6% of the global seed market in terms of value in 2021, and it is expected to increase by 31% in 2028.
In 2022, North America was the largest producer of oilseeds. The regions account for about 35.5% of the global oilseeds market value. The United States is the largest in the region, accounting for about 33% of the global oilseed sales because of the leading exporter, high-yield seed varieties availability, and increase in global demand.
China is the second largest oilseed-producing country in the world. The oilseeds share in the respective market is 59.7% in the year 2022.? The China Oilseeds seed market is dominated by canola, rapeseed, and mustard crops, which account for 44% of the market value in 2021.?
The South American region has a market share of about 19.5% in the global oilseed market due to an increase in the cultivation area, and leading producers of oil crops, such as Brazil and Argentina, accounting for 15.8% of the global oilseeds.
In Europe, oil seeds contribute 16% market share in the Europe row crop seed market. France and Germany have the major share of canola, rapeseed, and mustard in the region. Together, they contributed a 6% share in terms of value to the global canola, rapeseed, and mustard seed market in 2021.
Africa accounts for 4.2% of the global oilseed market. Sunflower holds the major share in Africa, contributing 30% of the African oilseed market. South Africa had the largest oilseed market accounting for 75% of the total African oilseed market in 2022.
An increase in the prices, demand from consumers, and the expansion of edible oil processing plants are driving the oilseed market in the region. Thus, the oilseed market is estimated to grow in the forecast period.
Competitive Landscape
The Global Oilseed Market (seed For Sowing) is moderately consolidated, with the top five companies occupying 48.00%. The major players in this market are BASF SE, Bayer AG, Corteva Agriscience, KWS SAAT SE & Co. KGaA and Syngenta Group (sorted alphabetically).
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
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