Sunflower Market by Type and Geography - Forecast and Analysis 2022-2026

The sunflower market share is expected to increase by USD 8.13 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.51%.

This sunflower market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers sunflower market segmentation by type (oilseed and non-oilseed) and geography (Europe, APAC, South America, North America, and Middle East and Africa). The sunflower market report also offers information on several market vendors, including Archer Daniels Midland Co., Bunge Ltd., Cargill Inc., Colorado Mills, Conagra Brands Inc., Corteva Inc., Giant Snacks Inc., GoldenSun, Groupe Limagrain Holding, kaissaoil, Kenko Trading Co. Ltd., MACJERRY SUNFLOWER OIL COMPANY Co. Ltd., Mahyco Pvt. Ltd., Nufarm Ltd., Nuziveedu Seeds Ltd., PANNAR Ltd., Parakh Group, REIN Oil, Syngenta AG, and UPL Ltd. among others.

What will the Sunflower Market Size be During the Forecast Period?

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Sunflower Market: Key Drivers, Trends, and Challenges

The demand for sunflower oil is notably driving the sunflower market growth, although factors such as fluctuation in oilseed crop prices due to lack of land may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the sunflower industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Sunflower Market Driver

One of the key factors driving growth in the sunflower market is the demand for sunflower oil. There is a high demand for cooking oil in countries such as India. For instance, India will likely produce about 10 million tons of edible oils in 2021 to 22, compared with local consumption of 23 million tons. Thus, Indians will probably buy expensive cooking oils from overseas for at least another 15 years as demand continues to outpace domestic production. In 2020, the adverse weather conditions caused global sunflower production to fall by 9 against 2019. This led to the rapid depletion of global stocks and the subsequent rise in sunflower seeds and oil prices. Despite rising prices, the demand for sunflower oil is set to remain stable, supported by the growing consumption of food oil and biofuels. The EU, China, India, Iraq, and Turkey feature among the most attractive destinations for export due to rising food demand from expanding middle class and urban population, which will drive the demand for sunflower oil and, in turn, will lead to growth in the sunflower market during the forecast period.

Key Sunflower Market Trend

The advancement in agriculture is another factor supporting the sunflower market share growth. Advancement in agriculture, such as precision farming and the deployment of drones, has been positively impacting the agriculture sector around the globe. For instance, precision farming refers to the management system for crops and livestock, which relies on global positioning systems to monitor the location of field equipment, including irrigation nozzles, agrochemical sprayers, and weed control systems, and to communicate with them. Some features of precision farming include but are not limited to equipment guidance, yield inspection, and variable rate input applications. Precision farming helps farmers automate a large part of their agricultural operations and minimize their input costs. The high profit-making potential of precision farming is expected to increase its commercial adoption, which, in turn, will enhance the growth of the market in focus during the forecast period.

Key Sunflower Market Challenge

The fluctuation in oilseed crop prices due to lack of land will be a major challenge for the sunflower market during the forecast period. Oilseed crop prices, such as for sunflower, are volatile due to variable weather conditions and political instability, affecting oil crop producers output and, as a result, limiting oil supply to manufacturers. Other important issues contributing to decreasing specialty oil production levels worldwide include restricted access to funding and a lack of information about contemporary agricultural practices and farm management skills. It is estimated that 30% of crops in key countries are lost due to ineffective insect and crop disease management techniques. The decrease in the availability of agricultural land can be attributed to an increase in constructional activities due to the growth of the urban population. Such factors will hinder the growth of the global sunflower market.

This sunflower market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global sunflower market as a part of the global agricultural products market under the global food products market of the global food, beverage, and tobacco market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the sunflower market during the forecast period.

Who are the Major Sunflower Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Archer Daniels Midland Co.
• Bunge Ltd.
• Cargill Inc.
• Colorado Mills
• Conagra Brands Inc.
• Corteva Inc.
• Giant Snacks Inc.
• GoldenSun
• Groupe Limagrain Holding
• kaissaoil
• Kenko Trading Co. Ltd.
• MACJERRY SUNFLOWER OIL COMPANY Co. Ltd.
• Mahyco Pvt. Ltd.
• Nufarm Ltd.
• Nuziveedu Seeds Ltd.
• PANNAR Ltd.
• Parakh Group
• REIN Oil
• Syngenta AG
• UPL Ltd.

This statistical study of the sunflower market encompasses successful business strategies deployed by the key vendors. The sunflower market is fragmented and the vendors are deploying growth strategies such as focusing on strengthening their online presence to compete in the market.

Product Insights and News

• adm.com - The company offers sunflower that includes sunflower oil, mid-oleic sunflower oil, dewaxed mid-oleic sunflower oil, expeller pressed high-oleic sunflower, dewaxed expeller pressed high-oleic sunflower oil which is used in nutrition bars, nutritional beverages, snack food frying, popcorn, spray oils, baked goods, cereals and dry mixes and bring specific functional benefits.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The sunflower market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Sunflower Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the sunflower market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Sunflower Market?

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65% of the market's growth will originate from Europe during the forecast period. Russia, Romania, and Ukraine are the key markets for sunflowers in Europe. Market growth in this region will be faster than the growth of the market in the South American and APAC regions.

The growing demand for edible oils among consumers and the rising number of organized retailing outlets that offer edible oils will facilitate the sunflower market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

Europe was severely affected by the COVID-19 pandemic, especially in 2020, and was among the worst-hit regions globally. Italy, France, Germany, Spain, and the UK recorded the highest number of COVID-19 cases in Europe. Due to this, government organizations in various European countries implemented complete lockdowns to control the spread of the disease.In 2021, the region showed a slow economic recovery along with a rise in awareness about immunity and health consciousness, which will boost the demand for sunflower-based products in the region further during the forecast period.

What are the Revenue-generating Type Segments in the Sunflower Market?

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The sunflower market share growth by the oilseed segment will be significant during the forecast period. Countries such as China and India are the major consumer of oilseeds such as sunflower across the globe. The rising incidences of oil adulteration have driven consumers to purchase approved organic edible oils. The dominance of organic edible oils over their inorganic counterparts will increase the sales of organic edible oils in APAC during the forecast period. Additionally, the increasing disposable income of consumers and the rising number of organized retailing outlets that offer edible oil are the major drivers that are estimated to impact the growth of the global oilseed market during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the sunflower market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Sunflower Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive sunflower market growth during the next five years
• Precise estimation of the sunflower market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the sunflower industry across Europe, APAC, South America, North America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of sunflower market vendors

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