Sunflower Market Report 2024

This Sunflower market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The sunflower market size has grown strongly in recent years. It will grow from $21.89 billion in 2023 to $23.01 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth during the historic period can be attributed to several factors, including a rise in population and urbanization, a high demand for biofuels and renewable energy sources, increasing disposable incomes in emerging markets, a heightened focus on sustainable agricultural practices, and a growing preference for plant-based oils over animal fats.

The sunflower market size is expected to see strong growth in the next few years. It will grow to $28.16 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The anticipated growth during the forecast period can be attributed to increasing health consciousness among consumers, rising applications in the food and cosmetics industries, favorable climatic conditions for sunflower cultivation, the expansion of sunflower cultivation areas, and growing government subsidies and support for sunflower farming. Key trends in this period include advancements in breeding technologies, innovations in oil extraction processes, the development of new sunflower varieties, the integration of digital technologies in farming, and the emergence of new processing technologies.

The growing demand for healthy edible oils is anticipated to drive the expansion of the sunflower market in the future. Healthy edible oils are plant-derived oils that are abundant in unsaturated fats, essential nutrients, and antioxidants, promoting heart health and overall wellness. This rising demand is largely influenced by increased consumer awareness regarding heart health, nutritional benefits, and the need for healthier dietary fats. Sunflower seeds are processed to produce sunflower oil, which is high in heart-friendly unsaturated fats and vitamin E, making it a nutritious option for cooking. For example, in June 2023, the United States Department of Agriculture, a government body in the U.S., reported that in 2021, the country imported significant amounts of vegetable oils for various purposes, with import values exceeding $8 billion and rising to $10.9 billion in 2022. As a result, the increasing demand for healthy edible oils is fueling growth in the sunflower market.

Key players in the sunflower market are concentrating on the development of advanced farming technologies, including agroecological innovation, to enhance crop yields and promote sustainable practices that can satisfy the rising global food demand. Agroecological innovation refers to the creation and implementation of sustainable agricultural methods that boost biodiversity, optimize resource use, and support ecological balance. For instance, in September 2023, Elicit Plant, a biotechnology firm based in France, launched EliSun-a, a pioneering agroecological innovation aimed at improving sunflower yields. By employing phytosterol technology, EliSun-a increases the resilience of sunflower crops, particularly in times of water scarcity. This innovation is intended to be sprayed onto sunflower crops, allowing phytosterols to penetrate the plants and encourage root growth. This method not only seeks to enhance sunflower yields but also aligns with the agricultural trend towards sustainability, utilizing natural plant mechanisms to improve productivity.

In February 2023, MK Agrotech Pvt. Ltd., an India-based food and beverage manufacturing firm, acquired Riso Edible Oils Pvt. Ltd. for an undisclosed amount. This acquisition aims to reinforce the Sunpure brand, expand its market presence in Southern and Western India, and promote domestic edible oils while diversifying into branded spices, grains, pulses, and dry fruits. Riso Edible Oils Pvt. Ltd. is an Indian company that manufactures a variety of edible oils, including sunflower oil.

Major companies operating in the sunflower market are 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.

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. The regions covered in the sunflower marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the sunflower marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The sunflower (Helianthus annuus) is a tall, annual plant recognized for its large, bright yellow flower head. Native to North America, it thrives in sunny conditions and can grow to over 10 feet in height. Sunflowers are primarily cultivated for their seeds, which are utilized for oil production, food, and snacks. Additionally, sunflowers contribute to soil health by removing toxins through a process known as phytoremediation.

The main products derived from sunflowers include sunflower seeds, sunflower oil, and others. Sunflower seeds are the edible seeds of the sunflower plant, commonly enjoyed as snacks or used in cooking. These seeds are distributed through supermarkets, retail shops, and online platforms, serving various applications in food and beverages, ornamental uses, pharmaceuticals, cosmetics, and more.

The sunflower market research report is one of a series of new reports that provides sunflower market statistics, including sunflower industry global market size, regional shares, competitors with a sunflower market share, detailed sunflower market segments, market trends and opportunities, and any further data you may need to thrive in the sunflower industry. This sunflower market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The sunflower market consists of sales of sunflower seed flour, roasted sunflower seeds, sunflower seed butter, and sunflower meal. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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