Global mustard seed market worth is expected to rise at a CAGR of 4.2% to USD 1 Billion by 2032, supported by:
There is a large & enough supply of mustard produced in India to meet particularly the need of Europe, followed by the mustard oil market in Asian countries. The mustard crop is anticipated to generate nearly 28,000 MT in the financial year 2022-23. But almost 90% of the crop gets consumed in the nation itself to manufacture oil while allowing only the remaining 10% of the crop to export.
Furthermore, according to the IOPEPC mustard seed market report released in the recent past, the output of Indian Mustard Seeds decreased by almost 4-6% during the years prior to the Covid-19 pandemic. However, this was also accompanied by a drop in the product's demand globally in the following years. Fortunately, this downturn of events has resulted in the growth of the mustard seed market in several non-traditional regions of the world for its production and export.
The primary application of Indian mustard is for the production of oil due to its slightly bitter flavor, and it is not utilized to produce sauces or mustard pastes which provides some lucrative opportunities for the mustard seed market players in other countries. The mustard seed analysis report by FMI anticipates that the new mustard seed market would crop up in the forecast years to meet the demand on a global scale, given the growing trend of mustard sauce and flavours.
| Report Attribute | Details |
|---|---|
| Mustard Seed Market Valuation as on 2022 | USD 718.9 million |
| Mustard Seed Market Anticipated Forecast Value (2032) | USD 1084.8 million |
| Mustard Seed Market Projected Growth Rate (2022 to 2032) | 4.2% |
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With the presence of a number of significant competitors, the global mustard seed market is progressively turning out diversified, which was previously fairly consolidated. Moreover, the prominent players are concentrating on expanding their commercial operations in developing nations. At the same time, most of the new mustard seed companies in the global market are preparing plans for new product development and product portfolio growth through investments and innovations.
The mustard seed market key players frequently conduct analysis of the requirement for mustard on a worldwide scale and take steps appropriately to enhance the quality of seeds produced so that they can retain their existing market demand and improve the brand value. In such a competitive market, new participants need to focus their efforts on popularizing the product and supplying it to untapped markets.
Many entrepreneurs have surfaced to make a profit out of the increasing mustard seed market opportunities in the aftermath of the pandemic food shortage and restrictions on trading agricultural items. On the other hand, over the course of this projection period, the higher expenses related to the installation and maintenance of mustard processing equipment can be a factor that might prolong the gestation period of the start-ups entering into the global mustard seed business.
Another major reason for such a higher rate of prediction for the mustard seed market growth during the forecast period is the continuous investment and innovations by food processing companies to provide better preservation solutions for all kinds of agricultural commodities.
Being a source of a lot of healthy nutrients, being great source of sterols, and for many other reasons, the demand for mustard seeds is expected to increase in the future.
Popularity of mustard seed is growing as it is nearly 40 different mustard plant species are found. In addition to this, mustard seed are available in diversified forms--black, brown and white mustard seeds, which is likely to boost the demand for mustard seeds.
Another key factor that upkeep the growth momentum of mustard seed market is its multipurpose usage as an edible plant. Almost every part of mustard plant is edible, be it seeds, leaves or flowers.
Mustard seeds being full of rich nutrients and their leaves being rich in Vitamin A, Vitamin C, and Vitamin K. These are also rich in fibre, selenium, magnesium, and manganese, which is likely to keep the popularity quo high.
Several studies have found that mustard seeds are also effective in preventing cancer. The mustard seeds also exhibit anti-inflammatory and anti-bacterial properties.
The mustard seeds are also a rich source of isothiocyanates and phenol compounds, because of which they are extremely beneficial for the body.
Previously, the CAGR for the mustard seed market was 3.6%. But with the increasing applications of the mustard seed, the anticipated CAGR for the forecast period, which stands at 4.2% highlights the fact that there is an increase in the consumption of mustard seeds and this is only expected to increase further.
Owing to a number of health benefits offered by mustard seeds, the oils made up of mustard seeds are being used in cooking instead of various other kinds of oil like sunflower oil, sesame oil etc. This is expected to increase the demand for mustard seeds.
Mustard seeds are rich source of various kinds of Vitamin B like niacin, thiamine, riboflavin etc., which are crucial for the effective functioning of Nervous System, and for maintaining a healthy metabolism as well. These benefits offered are expected to increase the demand for mustard seeds.
Mustard seeds are effective for arthritis treatment as well. Being a rich source of Omega 3 fatty acids, selenium, and magnesium, the oils made from mustard seeds are effective in treating arthritis. This is expected to increase the sales of mustard seeds.
As a method of precaution, health specialists advice people to consume mustard seeds on a regular basis. Muster seeds are rich in myrosinase and glucosinolates, which prevent the growth of cancer cells. This is anticipated t further increase the sales of mustard seeds.
Apart from high magnesium and selenium, mustard seeds are also a source of Vitamin A, Vitamin B, beta-carotene and omega 3 fatty acids. These nutrients are effective for handling asthama. This particular application is expected to increase the sales of mustard seeds.
Mustard seeds are also useful for maintaining a sound cardiovascular health. It is effective for maintaining a sound cardiovascular health, and is specifically known for reducing the bad cholesterol levels in the blood. This is expected to increase the adoption of mustard seeds.
Mustard seeds are also consumed for maintaining a strong bone health and strong teeth as well. The presence of selenium in mustard seeds ensures that the bones and teeth remain. The presence of selenium also ensures healthy nails and hair.
This is expected to increase the mustard seed market share.
The anti-inflammatory properties of mustard seeds also prevent the growth of acne. They are effective in hydrating our skin and removing the impurities from our skin. Because of this, the mustard seed market share is anticipated to increase in the coming times.
Additionally, because of the presence of Vitamin A, Vitamin C and Vitamin K, the mustard seeds slow down the ageing process of a person. Even this is anticipated to increase the market for mustard seeds.
It is important to note that there should be a regulated consumption of mustard seeds. Consuming them beyond certain limit may lead to diarrhoea, and gut inflammation.
Moreover, uncooked mustard seeds contain goitrogens. These interfere with the smooth functioning of thyroid glands, which are useful for the smooth metabolism process, which might lead to thyroid related problems. So, it is advisable to consult a health specialist before consuming mustard seeds.
North America, which currently has a market share of 24.6% is expected to show a decent growth during the forecast period.
People in North America are well informed about leading a healthy lifestyle, and are taking proactive steps as well to lead such a lifestyle. Consequently, lot of people has replaced other forms of edible oil with mustard oil. Moreover, people in this region are aware also aware of the importance of a healthy cardiovascular health. This is also seen as a major factor for the anticipated increase in the market share of mustard seeds during the forecast period.
Europe, which currently has a market share of 29.7%, is expected to show a good growth rate during the forecast period.
Apart from the health benefits offered by mustard seeds, people in this region are aware of other benefits of these seeds as well. As mustard oil is highly beneficial for a glowing skin, people in this region make use of mustard oil for skin as well, apart from consumption.
Moreover, people in Europe as well are health conscious, because of which the market size of mustard seed is expected to increase in the region.
How is the Start Up Ecosystem in the Mustard Seed Market?
The mustard seeds are important for a strong body. Having so much to offer, the start up ecosystem in the mustard seed market is seeing a lot happening.
SunImpex, a Dubai based agro products start up, which was launched in 2013, was exhibiting in GULF FOOD 2020. GULF FOOD is a great platform for food producing companies to discover new trends and discover new trends. The product lines in SunImpex had been multiplying, and taking this reason into consideration, SunImpex decided to participate in the exhibition.
Some of the key market players in the mustard seed market are: McCormick & Company, Inc., Sakai Spice (Canada) Corp, Megha Corporation, Organic Products India, Sun Impex., The Tracklement Company Ltd, Kaveri Seeds.
With the Russia-Ukraine war taking place, farmers across the world fear that the prices of mustard seeds might increase in the future, which might also affect the demand of the mustard seed market.
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| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.2% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2014 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Type, Application, Sales Channel, Region |
| Regions Covered |
North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | McCormick & Company, Inc.; Sakai Spice (Canada) Corp; Megha Corporation; Organic Products India; Sun Impex.; The Tracklement Company Ltd; Kaveri Seeds. |
| Customization | Available Upon Request |
The mustard seed market is projected to grow at a CAGR of 4.2% during the forecast period (2022-2032).
The mustard seed market has a valuation of USD 718.9 million as on 2022.
The mustard seed market is expected to be valued USD 1084.8 million in 2032.
| Market Size (2024E) | USD 389.4 million |
|---|---|
| Market Projected Size (2034F) | USD 622.5 million |
| Value CAGR (2024 to 2034) | 4.8% |
| Expected Market Value (2023) | USD 411.5 million |
|---|---|
| Anticipated Forecast Value (2033) | USD 663.4 million |
| Projected CAGR (2023 to 2033) | 4.9% |
| market Estimated Value (2023E) | USD 12,132.9 million |
|---|---|
| Projected Market Value (2033F) | USD 30,996.9 million |
| Value-based CAGR (2023 to 2033) | 9.8% |
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