Oil Crops - China

China

Gross production value in Oil Crops market is projected to amount to €23.10bn in 2024. An annual growth rate of 5.29% is expected (CAGR 2024-2028), resulting in gross production value of €28.39bn in 2028.
The import value in Oil Crops market is projected to amount to €55.8bn in 2024. An annual growth rate of 6.05% is expected (CAGR 2024–2028).
The export value in Oil Crops market is projected to amount to €1.0bn in 2024. An annual growth rate of 1.51% is expected (CAGR 2024–2028).

Key regions: Germany, Spain, Italy, Brazil, United States

Marché

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Comparaison de régions

Monnaie

Analyst Opinion

Oil crops have been an essential part of the agricultural sector in China for centuries. The country is the world's largest producer and consumer of oil crops, including soybeans, rapeseed, and peanuts. The oil crops market in China has been developing in a certain way due to various factors.

Customer preferences: Chinese consumers have a strong preference for vegetable oil, which is healthier than animal fat. Soybean oil is the most consumed vegetable oil in China, followed by rapeseed oil. The demand for peanut oil has also increased in recent years due to its unique flavor and health benefits.

Trends in the market: The oil crops market in China has been growing steadily due to the increasing demand for vegetable oil. However, the market has also been affected by various trends. One of the major trends is the increasing focus on sustainable agriculture and organic farming. Many farmers are adopting new techniques to reduce the use of pesticides and fertilizers, which has led to an increase in the production of organic oil crops.Another trend in the market is the increasing use of technology in agriculture. Many farmers are using drones and other advanced equipment to monitor their crops and improve their yields. This has led to an increase in the production of high-quality oil crops, which are in high demand in the market.

Local special circumstances: China has a unique climate and geography, which has a significant impact on the oil crops market. The country has a large area of arable land, which is suitable for growing oil crops. However, the climate is not always favorable, and farmers often face challenges such as droughts and floods. The government has implemented various policies to support farmers and encourage the production of oil crops.

Underlying macroeconomic factors: The oil crops market in China is also influenced by various macroeconomic factors. The country's growing population and increasing urbanization have led to an increase in the demand for vegetable oil. The growing middle class is also driving the demand for high-quality, organic oil crops.In conclusion, the oil crops market in China is developing due to various factors, including customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The market is expected to continue growing in the coming years due to the increasing demand for vegetable oil and the adoption of new technologies in agriculture.

Methodology

Data coverage:

The data encompasses B2B. Figures are based on the value of gross production in the agriculture market, which values of production are calculated by multiplying gross production by output prices at the farm gate.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting agriculture products due to the non-linear growth of this market, especially because of the direct impact of climate change on the market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.