Oilseed Market Size

Oilseed Market size was valued at USD 249.1 billion in 2023 and is poised to cross USD 421.5 billion by the end of 2036, expanding at more than 4.5% CAGR during the forecast period i.e., between 2024-2036. In 2024, the industry size of oilseed is evaluated at USD 259.4 billion.

The oilseed market is driven by the rising consumption of vegetable oil. Per capita consumption of vegetable oil is set to grow at 0.8% per annum due to increasing demand for saturated foods in developed and emerging countries. China’s present consumption is 29 kg per capita and Brazil's is 26 kg per capita, which is comparable to those of developed countries where it has leveled off at 28 kg per capita, but growing at 0.3% per annum. India is the world’s number one importer and second-largest consumer of vegetable oil. The country is projected to observe a high per capita consumption rate of 2.6%, reaching 14 kg by 2030. This is expected to boost domestic production of crushed oilseed and palm oil imports mainly from Indonesia and Malaysia. Changes in dietary habits and a shift toward processed foods with a high content of vegetable oil are fostering market expansion.