Market Size of Sunflower Oil Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 35.98 Billion |
| Market Size (2029) | USD 48.26 Billion |
| CAGR (2024 - 2029) | 6.05 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Sunflower Oil Market Analysis
The Sunflower Oil Market size is estimated at USD 35.98 billion in 2024, and is expected to reach USD 48.26 billion by 2029, growing at a CAGR of 6.05% during the forecast period (2024-2029).
- The Global Sunflower Oil Market was valued at USD 31,990.2 million in the current year. Post-pandemic, global consumption saw an inclination toward healthy eating, creating a demand for sunflower oil, considered healthy among edible oils. Consequently, it led to an increase in the cultivated area with sunflowers and an increase in the price of sowing seeds.
- The sunflower seed market (seeds for sowing) witnessed unprecedented vertical growth in recent years. Sunflower oil has high demand in developing countries, as it is healthy and cheaper than most of its counterparts. The increasing sunflower oil consumption offset the global decline in palm, cottonseed, and rapeseed oil.
- The application of sunflower oil is highly witnessed in the personal care segment. Sunflower oil is expected to be in high demand among cosmetic makers, in addition to its use in the healthcare industry. Increased demand for sunscreen, facial masks, and eye treatments would favorably contribute to sunflower oil's global market growth throughout the forecasted period. Furthermore, the global sunflower oil market is predicted to be driven by a growing demand for chemical-free oil personal care products among cosmetic users.
- Hence, manufacturers are launching new products to address the growing demand for chemical-free products. For instance, in April 2022, Keys Soulcare, the company of US singer-songwriter, producer, and actress Alicia Keys, unveiled its new offering of products that nourish the skin with light washes of buildable color. Dr. Renée Snyder, a board-certified dermatologist, collaborated on developing these products, which include comforting tinted lip balms, sheer flush cheek tint, soft stay brow gel, and a natural flush complexion brush which are made with natural ingredients such as avocado oil, camellia seed, sunflower, safflower seed oils and others.
Sunflower Oil Industry Segmentation
Sunflower oil refers to a pale yellow semi-drying or drying fatty oil expressed from the seeds of the common sunflower and used chiefly in foods, personal care products, varnishes, and paints.
The global sunflower oil market is segmented by type (linoleic oil, mid-oleic oil, and high-oleic oil), application (food, biofuels, and personal care), and geography (North America, Europe, Asia Pacific, South America, and Middle-East & Africa).
For each segment, the market sizing and forecasting have been done in value terms (USD million).
| Type | |
| Linoleic Oil | |
| Mid-oleic Oil | |
| High-oleic Oil |
| Application | |
| Food | |
| Biofuels | |
| Personal Care |
| Geography | |||||||||
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Sunflower Oil Market Size Summary
The sunflower oil market is poised for significant growth over the forecast period, driven by increasing consumer preference for healthier and non-GMO food options. This trend has been particularly pronounced in developing countries, where sunflower oil is favored for its health benefits and cost-effectiveness compared to other edible oils. The market's expansion is further supported by the rising demand for sunflower oil in the personal care and cosmetics industries, where it is valued for its natural and chemical-free properties. Manufacturers are responding to this demand by launching new products that incorporate sunflower oil, catering to consumers seeking natural ingredients in their personal care routines. The oil's versatility in both food and industrial applications, such as frying and salad dressings, also contributes to its growing popularity.
Europe remains a dominant region in the sunflower oil market, with increasing consumption driven by the demand for healthier cooking oils. The region's preference for oils with high unsaturated fatty acids and smoke points has bolstered the market's growth. Major producers like Russia and Ukraine play a crucial role in the global supply chain, although geopolitical tensions have impacted production and pricing. Key industry players, including Archer Daniels Midland Company, Bunge Limited, and Cargill Incorporated, leverage their extensive geographical presence and product innovation strategies to maintain a competitive edge. These companies continue to expand their operations and invest in new facilities to meet the rising global demand for sunflower oil, ensuring their strong foothold in the market.
Sunflower Oil Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Linoleic Oil
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2.1.2 Mid-oleic Oil
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2.1.3 High-oleic Oil
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2.2 Application
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2.2.1 Food
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2.2.2 Biofuels
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2.2.3 Personal Care
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Russia
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2.3.2.6 Spain
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Sunflower Oil Market Size FAQs
How big is the Sunflower Oil Market?
The Sunflower Oil Market size is expected to reach USD 35.98 billion in 2024 and grow at a CAGR of 6.05% to reach USD 48.26 billion by 2029.
What is the current Sunflower Oil Market size?
In 2024, the Sunflower Oil Market size is expected to reach USD 35.98 billion.
