The sunflower market size has seen robust growth recently, projected to rise from $21.89 billion in 2023 to $23.01 billion in 2024, achieving a CAGR of 5.1%. This historical growth is largely driven by factors such as population growth and urbanization, high demand for biofuels and renewable energy sources, rising disposable incomes in emerging markets, a growing emphasis on sustainable agricultural practices, and an increasing preference for plant-based oils over animal fats. The sunflower market size is expected to reach $28.16 billion by 2028, with a CAGR of 5.2%. The projected growth in this period is attributed to rising health consciousness among consumers, growing applications in the food and cosmetics industries, favorable conditions for sunflower cultivation, expansion of cultivation areas, and increasing government subsidies and support for sunflower farming. Major trends anticipated include advancements in breeding technologies, technological innovations in oil extraction processes, development of new sunflower varieties, integration of digital technologies in farming, and the emergence of novel processing technologies.
Global Sunflower Market Key Driver
The growing demand for healthy edible oils is expected to propel the sunflower market. Healthy oils, rich in unsaturated fats and essential nutrients, are increasingly sought after due to consumer awareness of nutritional benefits. Sunflower oil, derived from sunflower seeds, is a nutritious cooking choice. The USDA reported that U.S. vegetable oil imports exceeded $8.0 billion in 2021, increasing to $10.9 billion in 2022. Therefore, the rising demand for healthy oils is driving the growth of the sunflower market.
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Global Sunflower Market Segments
The sunflower market covered in this report is segmented –
1) By Product: Sunflower Seeds, Sunflower Oil, Other Products
2) By Distribution Channel: Supermarkets, Retail Shops, Online
3) By Application: Food And Beverages, Ornaments, Pharmaceuticals, Cosmetics, Other Applications
By Geography:The regions covered in the sunflower marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Europe was the largest region in the sunflower market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major Sunflower Industry Players
Cargill Incorporated, Archer Daniels Midland Co, Wilmar International Limited, Bunge Ltd., Louis Dreyfus Company B.V., Corteva Inc., Conagra Brands Inc., UPL Ltd., Kernel Holding S.A., Emami Agrotech Limited, Marico Limited, Euralis Semences S.A.S., Olam International Limited, KS Oils Limited, NMGK Group, Nuziveedu Seeds Ltd., Parakh Group, Mahyco Pvt Ltd., Olenex, Delta Wilmar CIS LLC, Aveno N.V., Giant Snacks Inc., Kaissa Oil, Gemini Edibles and Fats India Pvt. Ltd.
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Sunflower Market Overview
The sunflower (Helianthus annuus) is a tall, annual plant known for its large, bright yellow flower head. Native to North America, it thrives in sunny environments and can grow over 10 feet tall. Sunflowers are cultivated for their seeds, which are used for oil production, food, and snacks. Sunflowers also play a role in improving soil health by removing toxins through a process known as phytoremediation.
Sunflower Global Market Report 2023 provides data on the global sunflower market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The sunflower market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
