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The sunflower oil market is estimated to increase by USD 5.84 billion, growing at a CAGR of 5.42% between 2023 and 2028. The growth of the market depends on several factors, including the growing use of biodiesel production, the increasing preference for healthy food ingredients, and the demand. The market is undergoing notable expansion, propelled by growing demand for biodiesel production utilizing Helianthus oilseeds. This shift towards alternative biofuels, such as biodiesel derived from oilseeds & fats crops and lipids (OCL), is driven by concerns regarding fossil fuel scarcity and environmental sustainability. Sunflower seeds, known for their high oil content, have emerged as a preferred feedstock for biodiesel, surpassing soybeans in oil production per acre. This preference for sunflower seeds is attributed to their ease of cultivation and profitability across both small farms and large-scale fields. Furthermore, the reuse of leftover cooking oil further enhances the sustainability of biodiesel, leading to reduced pollutant emissions. With an increasing utilization in biodiesel manufacturing, sunflower oil is positioned for significant market expansion, stimulating growth in the national sunflower industry and sectors such as healthcare, cosmetics, and food production.
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The market share growth by the food segment will be significant during the forecast period. Sunflower oil is extensively used in the food industry for dressing, seasonings, and other preparations. It is used in bakeries, confectionery, and convenience foods. It offers health benefits and helps food products to stay fresh for a long period. It can be added as a healthy ingredient since it contains unsaturated fatty acids that help regulate cholesterol levels and reduce the risk of cardiovascular diseases. Health benefits are likely to drive the consumption.
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The food segment was valued at USD 14.44 billion in 2018. It is estimated that the food segment holds more than 80% of the market share. The usage in family cooking has grown because of growing health concerns. The food segment holds the largest market share in 2022 and is expected to dominate the market during the forecast period due to the increasing use of healthy cooking and frying oil in food production businesses and households, such as vegan mayonnaise, cheese, and spreads. Thus, it will fuel the growth of the global market during the forecast period.
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Europe is estimated to contribute 38% 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. In Europe, the Russian Federation and Ukraine are some of the leading consumers. Globally, these countries are also the largest exporters of sunflower oil. In Europe, a majority of the sunflower seeds produced are used to extract sunflower oil. In the European Union (EU), it is one of the most consumed vegetable oils. According to the USDA, sunflower oil consumption in the EU has increased by 7.74% from 2020 to 2022. The increasing consumption, therefore, will drive the regional market during the forecast period. Bunge, Cargill, and Archer Daniels Midland are some prominent vendors that offer in the region. Hence, such factors are driving the market in Europe during the forecast period.
The market is integral to the edible oil sector, influenced by diverse factors spanning health, industry, and agricultural dynamics. Derived from sunflower seeds, it offers variants such as Mid-Oleic Oil and High-Oleic Oil, catering to different culinary needs and health trends. High in polyunsaturated fats, it supports good cholesterol levels and aligns with health and wellness trends promoting heart health. This makes it essential in combating cardiovascular ailments, aligning with the demand for fortified edible oils rich in essential nutrients. Within the energy industry, sunflower oil also finds applications as a feedstock crop for sustainable fuel production. The market drives its supply chain, impacting availability and pricing. With flowers symbolizing its origin, sunflower oil continues to be a versatile and favored choice in cooking oils, catering to both health-conscious consumers and culinary professionals worldwide.
The market is experiencing significant growth, driven by the rising demand for biodiesel production utilizing Helianthus oilseeds. This shift towards alternative biofuels like biodiesel, derived from oilseeds & fats crops and lipids (OCL), is fueled by concerns over fossil fuel scarcity and environmental sustainability. Sunflower seeds, with their high oil content, have emerged as a favored feedstock for biodiesel, surpassing soybeans in oil production per acre.
Moreover, this popularity stems from sunflower's ease of cultivation and profitability across both small farms and large-scale fields. Additionally, the reuse of leftover cooking oil further enhances the sustainability of biodiesel, resulting in lower pollutant emissions. With increasing utilization in biodiesel manufacturing, sunflower oil is poised for substantial market expansion, driving growth in both the national sunflower industry and sectors like healthcare, cosmetics, and food production. Hence, such factors are driving the market during the forecast period.
The introduction of new packaging is the primary trend in the global market. New packaging helps vendors attract consumers. Vendors operating in the global market are concentrating on revamping the packaging, sizing, and labeling of their products. In May 2018, Victoria Group AD (Victoria Group) announced changes in the packaging of ISKON edible refined sunflower oil. The company redesigned the label and changed the cap color to red as the dominant color of the new ISKON oil bottle. It changed the visual identity to help shoppers recognize the product on supermarket shelves, which may increase sales during the forecast period.
Moreover, in February 2018, Adani Wilmar Ltd. (Adani Wilmar) changed the packaging to a recyclable material to reduce plastic waste generation. Each pouch offered by the company will carry a prominent, enlarged international symbol for recycling, symbolized by curved, folded arrows forming a triangle in the front of the pouch. Such factors will increase the market growth during the forecast period.
The availability of substitutes is a major challenge to the global market growth. It is widely used in cooking, owing to the presence of healthy unsaturated fatty acids. Other types of vegetable oils, however, can be used as replacements in commercial and domestic cooking. Palm oil, olive oil, soybean oil, and canola oil are some alternatives. Soybean oil is preferred as cooking oil owing to the presence of essential fatty acids such as linoleic acid, alpha-linolenic acid, and mono-unsaturated oleic acid. A good balance of fatty acids in soybean oil ensures that the body obtains fatty acids and regulates cholesterol levels.
Moreover, the canola oil is a good source of vitamin K and vitamin E, which help in keeping the heart healthy. It has the lowest concentration of saturated fat among vegetable oils. Canola oil and soybean oil are also good sources of omega-3 fatty acids, which help protect the cell membranes of the skin and esyes. Like sunflower oil, olive oil has a high concentration of mono-unsaturated fats. It (olive oil) helps reduce cardiovascular diseases and cholesterol levels. The availability of substitutes, therefore, can hamper the global market during the forecast period.
The 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 growth strategies.
Market 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.
Abu Dhabi Vegetable Oil Co. - The company offers sunflower oil sourced directly from pure sunflower seeds as its key offering under the cooking oil and your health segment. They also offer Coroli Canola Oil, which contains minimum saturated fats, while it also contains more of the good fat, that the body needs.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The market is influenced by a myriad of factors spanning health, industry, and environmental concerns. Sunflower oil, derived from sunflower seeds, is prized for its nutritional benefits, including high levels of polyunsaturated and monounsaturated fatty acids, phytosterols, and vitamins like Vitamin A. It's favored for cooking due to its neutral taste and versatility in various culinary applications, from baking to frying. Health trends promoting low cholesterol and heart health have bolstered its popularity, especially as a substitute for oils high in trans fats. The market also reflects growing demand for sustainable and non-GMO products, aligned with health and wellness preferences. From HoReCa establishments to households, sunflower oil remains a staple in kitchens worldwide, underpinning its role in both culinary traditions and modern dietary preferences.
In addition, the market is a pivotal segment within the edible oil industry, influenced by diverse factors spanning health, industry, and environmental concerns. Derived from sunflower seeds through oil extraction processes, sunflower oil is renowned for its high content of polyunsaturated fatty acids, which contribute to maintaining healthy cholesterol levels, including high-density lipoproteins (HDL). It is favored over oils containing trans fats, such as partially hydrogenated oils, due to health recommendations from organizations like the World Health Organization and the Food and Drug Administration. Variants like mid-oleic and high-oleic sunflower oils cater to different culinary needs and health preferences, making them popular in cooking oils used across food restaurants, bars, and clubs. With increasing awareness of health issues like coronary heart disease and obesity, sunflower oil's role in promoting cardiovascular health and fulfilling dietary requirements for vitamins and minerals continues to drive its demand in global markets.
Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.42% |
Market Growth 2024-2028 |
USD 5.84 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.04 |
Regional analysis |
Europe, APAC, Middle East and Africa, South America, and North America |
Performing market contribution |
Europe at 38% |
Key countries |
Russia, Ukraine, Argentina, China, and Brazil |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abu Dhabi Vegetable Oil Co., Adani Wilmar Ltd., Archer Daniels Midland Co., Aveno NV, Avril SCA, Bunge Ltd., Cargill Inc., Colorado Mills, Conagra Brands Inc., Kaissa Oil, Kernel Holding S.A., M.K. Agrotech Pvt. Ltd., MK GROUP, Oliyar Co., Optimus Agro, Parakh Group, PPB Group Berhad, REIN Oil, Rusagro Group of Companies LLC, and ViOil Industrial Group |
Market dynamics |
Parent market analysis, market forecast, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the 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. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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