PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1510215
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1510215
US Oilseeds Market is valued approximately USD 53.45 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 4.03% over the forecast period 2024-2032. Oilseeds is one of the crucial components for the food and agricultural economy, helping as a major source of edible oils, protein-rich meal for animal feed, and feedstock for biofuel production. Key crops in the US Oilseeds Market include soybeans, canola, sunflower seeds, cottonseed, and peanuts. Among these, soybeans are one of the largely oilseed crops in the United States, both in terms of production volume and economic value. According to the U.S. Department of Agriculture, Soybeans consists more than 90% of U.S. oilseed production, and other oilseeds make up for the remaining production. Soybean oil is widely used in food processing, cooking, and industrial applications, while soybean meal is a major source of protein for livestock feed. The US is one of the major producer and exporter of soybeans. Trends in soybean production, driven by factors such as weather conditions, crop prices, and government policies have influenced soybean exports from the US.
The demand for vegetable oils and protein meals drive demand for the US Oilseeds Market. As the US population continues to grow, accompanied by rising incomes and changing dietary habits, there is an increasing need for vegetable oils for cooking, food processing, and industrial applications. Furthermore, protein meal derived from oilseeds is in high demand as a crucial component of animal feed, supporting the growing livestock and aquaculture industries across the region. According to the US Department of Agriculture, Soybeans comprise more than 90% of U.S. oilseed production, and other oilseeds, such as sunflower seed, canola, peanuts, flax, and others, make up the remaining production. In addition, technological advancements in farming practices and biotechnology further enhance the efficiency and productivity of US oilseed production, ensuring the country's competitiveness in meeting the evolving demand for vegetable oils and protein meal. However, trade tensions and agreements with key importing countries, such as China can stifle market growth between 2022 and 2032.