Australia Oilseed Market to Grow at a CAGR of 5.5% During 2024-2032, Aided by the Increasing Demand for Edible Oil

The growth of Australia oilseed market is supported by the increasing applications of oilseed, such as vegetable oil production, along with the rising demand for canola seeds globally. Oilseed crops are fundamental to many agricultural economies, primarily cultivated for edible oil production. They serve as a cornerstone in global agriculture and trade. In Australia, canola and cottonseed dominate oilseed production, representing over 90% of local output. Growing consumer health awareness has fueled demand for canola oil, driving increased demand for rapeseed in oil processing sectors worldwide.

Fig: Oilseed Exports (000’ tonnes), 2000-2021

Optimal weather conditions in key rapeseed-growing areas of western and southern Australia, following years of severe drought, coupled with improved domestic and international canola prices, are boosting rapeseed production. This increase aims to meet the rising demand from importing countries.

Government initiatives aimed at fostering trade relations with Asia have highlighted the importance of premium genetically modified (GM) and non-GM oilseeds from the country. Initiatives like the Australian Export Grains Innovation Center (AEGIC) and Grain Trade Australia focus on developing Australian canola exports for Chinese processing industries. Additionally, the expansion of the livestock and poultry sectors in the Philippines and Malaysia presents opportunities for Australian oilseeds in feed industries.

Australia is poised to satisfy rising global demand for canola oil with increased exports of canola and rapeseed. Growing consumer health awareness in developing nations, driven by perceived health benefits and improved functionality of canola oil, is boosting rapeseed production in the country.

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Market Breakup by Type, Category, and Application:

• Based on type, the market can be divided into soybean, sunflower, cottonseed, rapeseed, and safflower, among others.

• By category, the market is segmented into conventional and genetically modified.

• On the basis of application, the market is categorised into oilseed meal and vegetable oils.

Key Findings of the Report:

• Australian oilseeds are in high demand globally due to efficient supply chains. The country exports over one million tonnes of canola seed annually, representing 15-20% of the world's canola trade. Australia is also recognised as a supplier of high-quality edible oilseeds like soybeans and confectionary sunflowers.

• The growth of the Australian oilseed market is driven by rising demand for oils like canola and mid/high oleic canola in the food and beverage sector due to their nutritional benefits.

• Oilseeds, rich in nutrients like protein, magnesium, iron, zinc, and fibre, are used in vegetable oil production. Their protein content offers health benefits like weight loss and lower risks of diabetes and cardiovascular issues, making them favoured by vegans and vegetarians as a plant-based protein source.

• The market is expected to benefit from increased utilisation in livestock feeds, pharmaceuticals, and biofuels like soybean, rapeseed, and canola. Favourable government policies promoting biodiesel usage are expected to further boost the market.

Key Offerings of the Report:

• The EMR report gives an overview of the oilseed market in Australia for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the type, category, and application of the Australia oilseed market.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the Australia oilseed market are GrainCorp Limited, Cootamundra Oilseed Pty Ltd., KWS SAAT SE & Co KgaA, Midlands Holdings, Cargill, Incorporated, and Oilseed Australia, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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