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The sunflower market size is estimated to grow by USD 9.6 billion at a CAGR of 6.38% between 2023 and 2028. Sunflower oil demand continues to surge due to its numerous health benefits, including high levels of monounsaturated and polyunsaturated fats. Financing options for sunflower oil production in the agricultural sector are increasingly available, facilitating growth in this market. Government initiatives and private investments have led to improved farming techniques and increased yields, ensuring a steady supply. Sunflower oil's versatility in cooking, cosmetics, and industrial applications further boosts its market value. The health-conscious consumer trend and expanding food industry fuel the demand for sunflower oil, making it a lucrative investment opportunity.
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The market spans a diverse range of applications, from magnetic seed treatment to enhance growth efficiency, to decorative purposes in gardens and landscapes. Increasing health consciousness drives demand for sunflower-derived products like refined and unrefined sunflower oil, rich in linoleic acid, oleic acid, and Vitamin E. Varieties such as Arnika, Autumn Beauty, Aztec Sun, Big Smile, and Black Oil cater to different consumer preferences and agricultural needs, supported by genomic analysis for improved breeding outcomes. Sunflowers are also integral to the biofuel industry and the production of beauty products in the cosmetics sector. Packaging options include bottles and cans, facilitating distribution across the food industry segment and foodservice providers. The market continues to innovate, meeting diverse global demands while promoting sustainability and health benefits.
One of the key factors driving growth 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.
Moreover, 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 the expanding middle class and urban population, which will drive the demand for sunflower oil and, in turn, will lead the market during the forecast period.
The advancement in agriculture is another factor supporting the market share. Advancements 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.
Moreover, 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 during the forecast period.
The fluctuation in oilseed crop prices due to lack of land will be a major challenge for the 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.
Moreover, 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 construction activities due to the increase in urban population. Such factors will hinder the growth during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Archer Daniels Midland Co. - 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.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the oilseed segment will be significant during the forecast period. The Market holds significant importance in the global oilseeds industry, particularly in the production of sunflower oil. This organic edible oil is increasingly popular due to rising health consciousness and the cosmetic industry's growing demand for natural ingredients. Sunflower oil, derived from the seeds of the Sunflower (Helianthus) plant, boasts a short germination time and advanced seed technology, ensuring high seed kernel weight and product innovation.
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The oilseed segment showed a gradual increase in the market share of USD 17.40 billion in 2018. The Market Trends reflect the increasing preference for sunflower oil over other vegetable oils due to its health benefits. Rich in monounsaturated oleic acid and polyunsaturated linoleic acid, sunflower oil helps lower harmful cholesterol levels, reducing the risk of heart disease. Linoleic sunflower oil, in particular, is a healthier alternative to traditional cooking oils and is used in various applications, including meals, confectionery products, and bakery items. The Market caters to diverse industries, including the energy sector for fuel production and the food industry for various applications. Sunflower seed oil is a staple in the food industry, used as a frying oil and in the production of vegan mayonnaise, cheese spreads, and cosmetics. The oil's high HDL content further enhances its health benefits, making it a popular choice among consumers seeking natural health products and healthful snacks. In the context of rising health awareness and the increasing demand for natural and organic products, the Market is expected to witness substantial growth during the forecast period. The market's expansion is driven by the increasing popularity of sunflower oil as a healthier alternative to other edible oils and its versatility in various industries. Additionally, the sunflower seed's potential as a raw material for natural health products and healthful snacks further bolsters the market's growth prospects.
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Europe is estimated to contribute 57% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in Europe is experiencing significant growth, with sunflower seed production projected to reach an unprecedented 9 million tonnes in 2021-2022. This increase is attributed to a bountiful crop of 10.5 mln tonnes, up from 8.9 mln tonnes harvested in the previous year. Several key contributing countries, including Romania, France, Bulgaria, and Hungary, are expected to boost production by 43%, 18%, 16%, and 8% respectively. The market trends are driven by the cosmetic industry's increasing demand for sunflower oil, rich in oleic and linoleic acids, which contribute to improved skin health. Health consciousness is another significant factor, as sunflower oil, with its monounsaturated fats, is considered one of the healthiest vegetable oils. Sunflower seeds, hulled or dehulled, are also popular as natural health products and healthful snacks. Sunflower oil is widely used in the cooking oil industry, as well as in the production of sunflower seed meal for animal feed and confectionery products. Linoleic sunflower oil is particularly valued for its high linoleic acid content, which helps lower harmful cholesterol levels and reduce the risk of heart disease. Innovations in seed technology and germination time have led to improvements in seed kernel weight and product quality. Sunflower oil is also used as a frying oil and in the production of vegan mayonnaise, cheese spreads, and other food products. Additionally, sunflower oil is finding increasing use in the energy industry and as a component in bakery items and consumer retail products. The sunflower (Helianthus) plant is also valued for its oil extraction and applications in the oleochemical industry. The market is expected to continue growing, driven by increasing consumer awareness and demand for natural, healthful alternatives to traditional cooking oils and processed foods. The Market in Europe is experiencing significant growth, with sunflower seed production projected to reach an unprecedented 9 million tonnes in 2021-2022. This increase is attributed to a bountiful crop of 10.5 mln tonnes, up from 8.9 mln tonnes harvested in the previous year. Several key contributing countries, including Romania, France, Bulgaria, and Hungary, are expected to boost production by 43%, 18%, 16%, and 8% respectively. The market trends are driven by the cosmetic industry's increasing demand for sunflower oil, rich in oleic and linoleic acids, which contribute to improved skin health. Health consciousness is another significant factor, as sunflower oil, with its monounsaturated fats, is considered one of the healthiest vegetable oils. Sunflower seeds, hulled or dehulled, are also popular as natural health products and healthful snacks. Sunflower oil is widely used in the cooking oil industry, as well as in the production of sunflower seed meal for animal feed and confectionery products. Linoleic sunflower oil is particularly valued for its high linoleic acid content, which helps lower harmful cholesterol levels and reduce the risk of heart disease. Innovations in seed technology and germination time have led to improvements in seed kernel weight and product quality. Sunflower oil is also used as a frying oil and in the production of vegan mayonnaise, cheese spreads, and other food products. Additionally, sunflower oil is finding increasing use in the energy industry and as a component in bakery items and consumer retail products. The sunflower (Helianthus) plant is also valued for its oil extraction and applications in the oleochemical industry. The market is expected to continue growing, driven by increasing consumer awareness and demand for natural, healthful alternatives to traditional cooking oils and processed foods.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Sunflower Oil Market: Analysis Europe, APAC, Middle East and Africa, South America, North America - Russia, Ukraine, Argentina, China, Brazil - Size and Forecast
Lecithin Market: Analysis Europe, North America, APAC, South America, Middle East and Africa - US, Germany, UK, India, China - Size and Forecast
Rapeseed Oil Market: Analysis APAC, Europe, North America, South America, Middle East and Africa - China, US, Germany, India, UK - Size and Forecast
The market is integral to modern lifestyles, offering diverse applications across confectionery products, bakery items, and personal care solutions. Sunflower seeds and oils, including Chianti Hybrid, High Oleic Sunflower Oil, and Linoleic Sunflower Oil, contribute to health products promoting heart health by lowering cholesterol levels and reducing the risk of cardiovascular diseases. In the cosmetics industry sector, sunflower-derived ceramide molecules are used in skincare and haircare products, known for their moisturizing properties. Sunflower oils, such as refined and unrefined, are preferred for their neutral flavor and culinary versatility in salad dressings, marinades, and processed foods. They are also crucial in promoting vegetarian and vegan diets, offering nutritious, cholesterol-free alternatives to animal fats. Government-led campaigns support healthy eating habits, endorsing sunflower products for their unsaturated fats and antioxidant benefits. Foodservice providers category prefers both refined sunflower oil and unrefined sunflower oil, in both Bottles packaging and Cans packaging, to meet diverse culinary needs and preferences efficiently.
Market Scope |
|
Report Coverage |
Details |
Page number |
135 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.38% |
Market growth 2024-2028 |
USD 9.6 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.28 |
Regional analysis |
Europe, APAC, South America, North America, and Middle East and Africa |
Performing market contribution |
Europe at 57% |
Key countries |
Russia, Ukraine, Argentina, China, and Romania |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Archer Daniels Midland Co., Bunge Ltd., Cargill Inc., Colorado Mills, Conagra Brands Inc., Corteva Inc., Giant Snacks Inc., GoldenSun, Groupe Limagrain, Kaissa Oil, 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 Crop Protection AG, and UPL Ltd. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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