Market Size of Australia Oilseed Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.60 % |
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Australia Oilseed Market Analysis
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.
