Sunflower Oil Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 30.62 Billion |
| Market Size (2029) | USD 40.08 Billion |
| CAGR (2024 - 2029) | 5.53 % |
| Fastest Growing Market | Middle East and Africa |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
Sunflower Oil Market Analysis
The Sunflower Oil Market size is estimated at USD 30.62 billion in 2024, and is expected to reach USD 40.08 billion by 2029, at a CAGR of 5.53% during the forecast period (2024-2029).
There has been a global shift towards healthier eating habits, spurring a heightened demand for sunflower oil, which is regarded as one of the healthier edible oils. This surge in demand has resulted in an expanded cultivation area for sunflowers and a corresponding rise in sowing seed prices. Recently, the sunflower seed market, particularly for sowing purposes, has experienced unprecedented growth. Sunflower oil, being both healthy and more affordable than many alternatives, sees robust demand in developing nations. This rising consumption of sunflower oil has counterbalanced the global downturn in palm, cottonseed, and rapeseed oils. The food sector predominantly utilizes sunflower oil, but its appeal is expanding, with cosmetic manufacturers and the healthcare industry showing increasing interest. The surging demand for products like sunscreens, facial masks, and eye treatments is poised to bolster the global market growth during the forecast period. Additionally, there is a rising trend among cosmetic users for chemical-free personal care products, further propelling the global sunflower oil market. In response, manufacturers are rolling out new products to cater to this demand for chemical-free offerings. A notable example is Keys Soulcare, a brand launched by US singer-songwriter Alicia Keys. In April 2022, they introduced a range of skin-nourishing products, developed in collaboration with board-certified dermatologist Dr. Ren茅e Snyder. The lineup features tinted lip balms, cheek tints, brow gels, and complexion brushes, all crafted with natural ingredients like avocado oil, camellia seed oil, and sunflower oil.
Sunflower Oil Market Trends
Food Sector Emerges as the Dominant Consumer of Sunflower Oil
Globally, consumers are increasingly prioritizing non-GMO foods with lower saturated fats, catering to dietary preferences like vegan, kosher, or halal, and seeking diverse health benefits. This shift has led to a surge in sunflower oil consumption, especially among those favoring non-GMO products. Sunflower oil, being non-GMO, is derived from sunflower seeds cultivated through traditional breeding methods. It is one of the few oils in food manufacturing that maintains this non-GMO status. Moreover, due to its commendable oxidative stability, regular sunflower oil is widely utilized in the food industry. Developed nations, including the UK and Germany, predominantly use it as a salad and cooking oil. Industrially, sunflower oil serves as a frying medium and is integral in producing mayonnaise and oil-based dressings. Responding to the growing demand, new brands of sunflower oil are emerging in developing countries. For example, in April 2022, Bengaluru's Karnataka Cooperative Oilseeds Growers' Federation (KOF) introduced a new brand of Dhara sunflower oil. To support this initiative, the National Dairy Development Board (NDDB) sanctioned INR 16.32 crore (USD 1.9 million) to KOF, facilitating the purchase of oilseeds and edible oils. Consequently, food manufacturers are increasingly choosing sunflower oil, appreciating its cost-effectiveness compared to olive oil and its advantages over palm oil. Unlike palm oil, which has a higher freezing point and necessitates extra heating, sunflower oil's properties eliminate the need for such systems, resulting in significant cost savings.
Europe Dominates the Sunflower Oil Market
Europe leads the sunflower oil market, boasting the largest share, fueled by rising consumption. The continent's swift embrace of sunflower oil is due to its rich unsaturated fatty acid content and high smoke point. As European lifestyles accelerate, there is a marked shift towards healthier cooking oils, boosting consumption in both homes and the food service industry. On the global stage, Russia and Ukraine emerge as the dominant producers of sunflower seed oil. Within Russia, the oil and fat industry has carved out a significant niche in the food processing realm, with sunflower oil production skyrocketing over the last ten years. Data from the United States Department of Agriculture (USDA) highlights Russia's sunflower oil production for the 2023/24 season at 6.82 million metric tons, accounting for 31% of the global output, solidifying its position as the world's top sunflower oil producer. Meanwhile, the UK has been witnessing its own sunflower oil market trends. Heightened health awareness has led consumers to favor oils with touted nutritional benefits. Sunflower oil, celebrated for its low saturated fat content, perfectly aligns with this trend. As consumer knowledge about unsaturated fats grows, sunflower oil stands out as a heart-healthy option. This surge in preference has driven substantial sunflower oil imports into the UK. For context, data from ITC Trade Map reveals that in 2023, the UK imported around 109,647 tons of sunflower oil.
Sunflower Oil Industry Overview
The sunflower oil market is competitive, with both global and domestic players vying for dominance. Major players such as Archer Daniels Midland Company, Delta Wilmar Ukraine LLC, Cargill Incorporated, Avril Group, and Bunge Limited, leverage their extensive geographical reach and varied product portfolios to meet diverse consumer demands. This expansive approach not only strengthens their market presence but also underscores their commitment to high-quality, preservative-free ingredients, ensuring the global delivery of entirely natural products. Furthermore, in response to the surging demand for sunflower oil, producers are fine-tuning their sourcing strategies to better resonate with consumer preferences. These strategic moves aim to satisfy growing demand while navigating a landscape largely influenced by global giants.
Sunflower Oil Market Leaders
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Archer Daniels Midland Company
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Cargill Incorporated
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Bunge Limited
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Avril Group
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Delta Wilmar Ukraine LLC
*Disclaimer: Major Players sorted in no particular order
Sunflower Oil Market News
- September 2024: In Hungary, ADM has acquired a non-GM crushing facility. The company has taken control of Vandamme Hungaria and its affiliated entities, which operate a non-GM crushing and extraction facility in northern Hungary, boasting a capacity of 700 tonnes per day. The Vandamme Group, based in Deinze, Belgium, is a family-owned enterprise specializing in the production and refining of vegetable oils.
- August 2024: Bunge India Private Limited, a player in the edible oils sector, announced the expansion of its home-grown refined sunflower oil brand, Fiona, into Telangana.
- April 2024: Bunge and Chevron have greenlit a final investment decision for their joint venture, Bunge Chevron Ag Renewables LLC. They plan to construct a new oilseed processing plant adjacent to their current processing site on the Gulf Coast in Destrehan, Louisiana. This move is in line with Bunge's long-term strategy to bolster its capabilities in the renewable fuels market and to diminish carbon intensity across its value chain and that of its clientele.
Sunflower Oil 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 Drivers
4.1.1 Consumer Awareness of the Health Benefits of Sunflower Oil
4.1.2 Rising Adoption of Sunflower Oil Beyond Culinary Uses
4.2 Market Restraints
4.2.1 Presence of Substitute Oils
4.2.2 Supply Chain and Production Volatility
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Linoleic Oil
5.1.2 Mid-oleic Oil
5.1.3 High-oleic Oil
5.2 Application
5.2.1 Food
5.2.2 Biofuels
5.2.3 Personal Care
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Russia
5.3.2.6 Spain
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Positioning of the Players
6.3 Company Profiles
6.3.1 Archer-daniels-midland Company
6.3.2 Bunge Limited
6.3.3 Cargill Incorporated
6.3.4 Avril Group
6.3.5 Kaissa Oil
6.3.6 Optimusagro Trade Llc
6.3.7 Risoil Sa
6.3.8 Gustav Heess Oleochemische Erzeugnisse Gmbh
6.3.9 Mwc Oil
6.3.10 Delta Wilmar
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Sunflower Oil Industry Segmentation
Sunflower oil, a pale yellow semi-drying or drying fatty oil, is extracted from the seeds of the common sunflower. It is primarily utilized in food, personal care products, varnishes, and paints.
The global sunflower oil market is categorized by type and application. The types include linoleic oil, mid-oleic oil, and high-oleic oil. Applications span across food, biofuels, and personal care. The report also provides a geographical analysis of the market, focusing on both developed and emerging regions, namely North America, Europe, Asia Pacific, South America, and the Middle East and Africa.
Market sizing is presented in USD value terms for all segments mentioned above.
| Type | |
| Linoleic Oil | |
| Mid-oleic Oil | |
| High-oleic Oil |
| Application | |
| Food | |
| Biofuels | |
| Personal Care |
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Sunflower Oil Market Research FAQs
How big is the Sunflower Oil Market?
The Sunflower Oil Market size is expected to reach USD 30.62 billion in 2024 and grow at a CAGR of 5.53% to reach USD 40.08 billion by 2029.
What is the current Sunflower Oil Market size?
In 2024, the Sunflower Oil Market size is expected to reach USD 30.62 billion.
Who are the key players in Sunflower Oil Market?
Archer Daniels Midland Company, Cargill Incorporated, Bunge Limited, Avril Group and Delta Wilmar Ukraine LLC are the major companies operating in the Sunflower Oil Market.
Which is the fastest growing region in Sunflower Oil Market?
Middle East and Africa is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Sunflower Oil Market?
In 2024, the Europe accounts for the largest market share in Sunflower Oil Market.
What years does this Sunflower Oil Market cover, and what was the market size in 2023?
In 2023, the Sunflower Oil Market size was estimated at USD 28.93 billion. The report covers the Sunflower Oil Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Sunflower Oil Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Sunflower Oil Industry Report
Statistics for the 2024 Sunflower Oil market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Sunflower Oil analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
