Sunflower Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 40.59 Billion |
| Market Size (2029) | USD 47.08 Billion |
| CAGR (2024 - 2029) | 3.01 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Sunflower Market Analysis
The Sunflower Market size is estimated at USD 40.59 billion in 2024, and is expected to reach USD 47.08 billion by 2029, growing at a CAGR of 3.01% during the forecast period (2024-2029).
- Sunflower is an important oilseed crop native to Northern and Central America. The market is driven by its usage in the food and cosmetic industry. The oil is extracted from the seeds and used in the food industry and the manufacture of cosmetics. Despite this, flowers have a high demand for decorative purposes. Therefore, sunflower usage as oil, seeds, and flowers is contributing to the market's growth.
- Europe dominates the market across the globe. The market is primarily driven by the growing demand for sunflower oil across the region. Sunflower oil consumption is increasing mainly due to the rising health consciousness among consumers. Due to the adverse effects on health coming from adopting a modern lifestyle, consumers now prefer light edible oils to remain healthy. As a result, the share of sunflower oil in total edible oil consumption is rising yearly.
- Along with this, India is majorly dependent on Ukraine and Russia. It imports 80% of its oil from Ukraine and 20% from Russia. But the country could face a sunflower oil shortage due to the Ukraine crisis. On the other side, consumers worldwide have started preferring healthy foods. Thus, the market is anticipated to see a rise in demand for products incorporated with sunflower seeds and oil.
- Moreover, Companies are focussing on enhancing their sunflower seed product category. In 2021, Magnetic seed treatment reduced the germination time. It increased root-shoot length by inducing physiological and biochemical modulations in seed technology that is anticipated to boost the seed kernel weight of sunflower seeds without changing the shape. Therefore, the focus on product innovation by the companies relating to the sunflower market aids the market growth in the forecast period.
Sunflower Market Trends
This section covers the major market trends shaping the Sunflower Market according to our research experts:
Rising Opportunity in the Oil and Snacks Industry
Sunflowers are used for manufacturing cooking oil, meal, and confectionery products. Oil and meal are processed from the same varieties. Oil derived from sunflowers are good in oleic acid, linoleic acid, and another essential nutrient that reduces the harmful cholesterol levels in the body. Oils with more significant percentages of linoleic and monounsaturated fats are healthier. Additionally, oil is suitable for people suffering from heart disease. The increased health benefits of sunflower oil and rising health consciousness among people around the world favor its usage and increase in production.
Furthermore, sunflower oil contains linoleic, essential fatty acids that are 69% polyunsaturated. Linoleic sunflower oil is excellent for cooking and includes a neutral taste. This characteristic enhances the taste of food instead of masking it. Linoleic oil is preferred in much of Europe, Asia-Pacific, and South America. The research study published in Oilseeds & fat crops and lipids (OCL) 2020 claims that sunflower seed oil is the fourth most popular vegetable oil consumed worldwide. Therefore, the sunflower seed oil is one of the healthiest vegetable oils for cooking.
Moreover, sunflower seeds can be eaten directly in the hull, dehulled, raw, or backed form, and in various natural health products, healthful snacks, and bakery items. The largest market for food-grade seeds is consumer retail, both domestically and abroad is anticipated to record growth during the forecast period, owing to the rising demand for sunflower oil and other sunflower-based processed foods.
Asia-Pacific is the Fastest-growing Sunflower Market
Asia-Pacific dominates the sunflower market in terms of consumption after Europe, holding around 12% of the global market. The usage of sunflower oil in bakery and confectionery products is more in this region. The governments in this region are focusing on increasing the use of healthy edible oils and reducing the consumption of partly hydrogenated oils (PHO) due to their adverse health impacts. For instance, in 2021, the Singapore Ministry of Health banned all PHOs as ingredients in all foods, including fats, oils, and pre-packaged foods. Therefore, such increased initiatives by the government cater to the market's growth.
Moreover, According to FAO, the production of sunflower seeds is more in China, followed by Myanmar and India with 2,400, 260, and 213 thousand metric tons, respectively. Consumers are increasingly turning towards sunflower oil, which increases consumption by about a five-fold rise over the past 15 years. Additionally, the rising number of supermarkets and retail stores is rapidly increasing the demand for various sunflower seeds flavors. In addition, this region's market is driven by higher disposable incomes and increased health consciousness.
Furthermore, China tops in exports at the country level, followed by Turkey. According to the ITC trade map, in 2021, China exported 426,987 tons of sunflower seeds, and Turkey exported a quantity of 108,204 tons. The rise in exports will aid the market's growth in the coming years. Along with this, manufacturers are focusing on providing healthier product offerings. As a rich source of fiber, a demand for sunflower seeds is rising for manufacturing animal feed products in the livestock industry.
Sunflower Market News
- September 2022: We Effect, an organization that aims to create a just world free of poverty, partnered with Mtandao wa Vikundi vya Wakulima na Wafugaji in Arusha (MVIWAARUSHA) and launched a food processing unit for sunflower oil and maize at Ekenywa, Arusha District, Tanzania. This unit helps to reduce post-harvest losses that impede food security considerably, especially for perishable crops and vegetables, create employment, and increase household incomes.
- June 2022: Tanzanian President ordered the officials in the northwestern region of Kagera to bring into account between 70,000 and 100,000 hectares of land for massive sunflower cultivation and palm oil to end the shortage of edible oil facing the country.
- January 2022: Cargill launched ExtraVeganZa, a bar of vegan chocolate, by using the plant-based 'power ingredients' sunflower kernel powder, rice syrup, and organic rice syrup. Sunflower kernel powder brings a delightful creaminess and smooth melt-in-mouth experience to chocolate recipes.
Sunflower Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
- 4.4 Value Chain Analysis
5. MARKET SEGMENTATION
-
5.1 Geography (Production Analysis by Volume, Consumption Analysis by Value and Volume, Import Analysis by Value and Volume, Export Analysis by Value, and Volume and Price Trend Analysis)
- 5.1.1 North America
- 5.1.1.1 United States
- 5.1.1.2 Canada
- 5.1.1.3 Mexico
- 5.1.2 Europe
- 5.1.2.1 United Kingdom
- 5.1.2.2 Germany
- 5.1.2.3 Ukraine
- 5.1.2.4 Russia
- 5.1.2.5 Spain
- 5.1.2.6 France
- 5.1.3 Asia-Pacific
- 5.1.3.1 China
- 5.1.3.2 India
- 5.1.3.3 Australia
- 5.1.3.4 Japan
- 5.1.4 South America
- 5.1.4.1 Brazil
- 5.1.4.2 Argentina
- 5.1.5 Middle-East and Africa
- 5.1.5.1 Egypt
- 5.1.5.2 South Africa
- 5.1.5.3 Saudi Arabia
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablitySunflower Industry Segmentation
A sunflower is a tall plant with large yellow flowers whose seeds are used for consumption or oil-making. The sunflower market is segmented by geography (North America, Europe, Asia Pacific, South America, Middle East, and Africa). The report includes production (volume), consumption (value and volume), import (value and volume), export (value and volume), and price trend analysis of the top sunflower markets across the world. The report offers the market size and forecasts in volume in metric tons and value in USD thousand for all the above segments.
| Geography (Production Analysis by Volume, Consumption Analysis by Value and Volume, Import Analysis by Value and Volume, Export Analysis by Value, and Volume and Price Trend Analysis) | North America | United States |
| Canada | ||
| Mexico | ||
| Geography (Production Analysis by Volume, Consumption Analysis by Value and Volume, Import Analysis by Value and Volume, Export Analysis by Value, and Volume and Price Trend Analysis) | Europe | United Kingdom |
| Germany | ||
| Ukraine | ||
| Russia | ||
| Spain | ||
| France | ||
| Geography (Production Analysis by Volume, Consumption Analysis by Value and Volume, Import Analysis by Value and Volume, Export Analysis by Value, and Volume and Price Trend Analysis) | Asia-Pacific | China |
| India | ||
| Australia | ||
| Japan | ||
| Geography (Production Analysis by Volume, Consumption Analysis by Value and Volume, Import Analysis by Value and Volume, Export Analysis by Value, and Volume and Price Trend Analysis) | South America | Brazil |
| Argentina | ||
| Geography (Production Analysis by Volume, Consumption Analysis by Value and Volume, Import Analysis by Value and Volume, Export Analysis by Value, and Volume and Price Trend Analysis) | Middle-East and Africa | Egypt |
| South Africa | ||
| Saudi Arabia |
Sunflower Market Research FAQs
How big is the Sunflower Market?
The Sunflower Market size is expected to reach USD 40.59 billion in 2024 and grow at a CAGR of 3.01% to reach USD 47.08 billion by 2029.
What is the current Sunflower Market size?
In 2024, the Sunflower Market size is expected to reach USD 40.59 billion.
Which is the fastest growing region in Sunflower Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Sunflower Market?
In 2024, the Europe accounts for the largest market share in Sunflower Market.
What years does this Sunflower Market cover, and what was the market size in 2023?
In 2023, the Sunflower Market size was estimated at USD 39.40 billion. The report covers the Sunflower Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Sunflower Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Sunflower Industry Report
Statistics for the 2024 Sunflower market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Sunflower analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
