Australia Oilseed Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Australia Oilseed Market report provides an all-encompassing analysis of the production, consumption, import, and export size and trends, driving and restraining factors, and market forecast to 2025. The market is segmented by Oilseed Type (Rapeseed, Cottonseed, Sunflower Seed, Soybean, and Safflower Seed).

Market Snapshot

Market Snapshot
Study Period: 2016 - 2026
Base Year: 2020
CAGR: 5.6 %

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Market Overview

The Australian oilseed market is estimated to grow at a CAGR of 5.6%, during the forecast period (2020-2025).

Increased demand for canola oil, driven by a growing health consciousness amongst the consumers, has subsequently led to a surge in the demand for rapeseed for the oil processing sectors across countries. Favorable climatic conditions in the major rapeseed growing regions in western and southern Australia, following years of extreme drought, along with improved domestic and international prices of canola, are helping augment the production of rapeseed in the country, in order to cater to the expanding demand in the importing countries.

Furthermore, government initiatives in developing inter-trade relations with Asia have helped establish the significance of high-quality GM and non-GM oilseeds from Australia in the region. For instance, the Australian Export Grains Innovation Center (AEGIC), along with Grain Trade Australia, has been working towards the development of Australian canola exports for Chinese processing industries. Furthermore, the growth of the Philippine and Malaysian livestock and poultry industries pose a significant opportunity for Australian oilseeds for the feed industries in these countries.

Scope of the Report

The majorly produced oilseeds in Australia, viz., rapeseed, cottonseed, soybean, sunflower seed, and safflower seed, have been considered under the scope of the study. The scope extends to both qualitative and quantitative analyses of the production, consumption, import, and export trends of oilseeds in the country. The review period considered for the study is 2016-2019 and the forecast period is 2020-2025.

Oilseed Type
Rapeseed
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis
Cotton seed
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis
Soybean
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis
Sunflower Seed
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis
Safflower Seed
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis

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Key Market Trends

Increasing Global Consumption of Canola Oil

Australia is well-positioned to meet the growing demand for canola oil through increased exports of canola or rapeseed. Growing health consciousness amongst the consumers in developing countries, aided by the claimed health benefits and improved functionality of canola oil, is further augmenting the production of rapeseed in the country. In 2018, Australia produced a total of 3,893.1 thousand metric tons of canola, when compared to 2,775.4 thousand metric tons in 2016. However, extreme drought conditions in the major canola producing regions have also hampered the growth in production in recent years. According to a report by the United States Department of Agriculture (USDA), at the beginning of the cropping season in 2020, adequate rainfall has helped reinvigorate production in drought-hit regions like New South Wales. Furthermore, favorable domestic and international prices, reaching almost USD 50.0 per ton during the first half of 2019-2020, are expected to stabilize and boost production in the country, thus, strengthening exports in the coming years. The area harvested has also risen significantly from 2,090.9 thousand hectares in 2016 to 3,171.1 thousand hectares in 2018. Therefore, an increase in the surplus production of canola in Australia is anticipated to cater to the ever-growing demand in the importing countries, during the forecast period.

Australia Oilseed Market - Production of Rapeseed in thousand metric ton, Australia, 2014-2018

Government Initiatives and Trade Developments Expected to Drive the Export Market

Australia is a leading producer of oilseeds and roughly accounts for 15% of the global trade in canola or rapeseed on average. Although climatic disruptions have hampered the growth of production and exports of oilseeds in recent years, Australian oilseeds are gaining prominence in Asian countries through the growing inter-trade development activities. For instance, under the Japan-Australia Economic Partnership Agreement, Australia is increasingly raising the significance of its high-quality GM and non-GM grains and oilseeds for the Japanese processing sector, as part of Japan's restructuring the overall agricultural sector. This also led to an enhanced demand for Australian cottonseed, with Japan constituting 76.3% of the import value in 2018. Moreover, the Chinese government's decision to impose restrictions on imports of Canadian canola in March 2019, is expected to lead Australia to leverage the opportunity of exporting rapeseed to China. However, the rampant outbreak of the African Swine Fever in China has thwarted potential soybean exports from Australia to the country. However, the Australian Bureau of Agricultural and Resource Economics (ABARES) projects canola production to rise to 3.9 million metric tons during 2022-2023, under favorable climatic conditions, thus, aiding the market for non-GM canola in the European food manufacturing industry. These factors are further expected to drive the oilseed market in Austraoia, during the forecast period.

Australia Oilseed Market - Export Value in USD thousand, Australia, 2016-2018

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions & Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Value Chain Analysis

    5. 4.5 PESTLE Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Oilseed Type

      1. 5.1.1 Rapeseed

        1. 5.1.1.1 Production Analysis

        2. 5.1.1.2 Consumption Analysis & Market Size

        3. 5.1.1.3 Import Market Analysis (Volume & Value)

        4. 5.1.1.4 Export Market Analysis (Volume & Value)

        5. 5.1.1.5 Price Trend Analysis

      2. 5.1.2 Cotton seed

        1. 5.1.2.1 Production Analysis

        2. 5.1.2.2 Consumption Analysis & Market Size

        3. 5.1.2.3 Import Market Analysis (Volume & Value)

        4. 5.1.2.4 Export Market Analysis (Volume & Value)

        5. 5.1.2.5 Price Trend Analysis

      3. 5.1.3 Soybean

        1. 5.1.3.1 Production Analysis

        2. 5.1.3.2 Consumption Analysis & Market Size

        3. 5.1.3.3 Import Market Analysis (Volume & Value)

        4. 5.1.3.4 Export Market Analysis (Volume & Value)

        5. 5.1.3.5 Price Trend Analysis

      4. 5.1.4 Sunflower Seed

        1. 5.1.4.1 Production Analysis

        2. 5.1.4.2 Consumption Analysis & Market Size

        3. 5.1.4.3 Import Market Analysis (Volume & Value)

        4. 5.1.4.4 Export Market Analysis (Volume & Value)

        5. 5.1.4.5 Price Trend Analysis

      5. 5.1.5 Safflower Seed

        1. 5.1.5.1 Production Analysis

        2. 5.1.5.2 Consumption Analysis & Market Size

        3. 5.1.5.3 Import Market Analysis (Volume & Value)

        4. 5.1.5.4 Export Market Analysis (Volume & Value)

        5. 5.1.5.5 Price Trend Analysis

  6. 6. MARKET OPPORTUNITIES & FUTURE TRENDS

  7. 7. IMPACT OF COVID-19

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Frequently Asked Questions

The Australia Oilseed Market market is studied from 2016 - 2026.

The Australia Oilseed Market is growing at a CAGR of 5.6% over the next 5 years.

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