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 |
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).
The sunflower market is propelled by its applications in the food and cosmetic industries. Sunflower oil, extracted from seeds, is widely used in food production and cosmetics manufacturing. Additionally, sunflowers are in high demand for decorative purposes. The combined usage of sunflowers as oil, seeds, and flowers contributes significantly to market growth.
Europe dominates the global sunflower market, primarily due to the increasing demand for sunflower oil in the region. Consumption of sunflower oil is rising, largely attributed to growing health consciousness among consumers. As people become more aware of the health impacts of modern lifestyles, there is a preference for lighter edible oils. Consequently, sunflower oil's share in total edible oil consumption is increasing annually. According to USDA data, global sunflower oil consumption reached 20.52 million metric tons in 2023, up from 17.88 million metric tons in 2022.
Furthermore, countries are implementing major initiatives to increase sunflower production to meet global demand. For instance, in June 2022, the Tanzanian President directed officials in the northwestern Kagera region to allocate between 70,000 and 100,000 hectares of land for large-scale sunflower cultivation to address the country's edible oil shortage. Russia and Ukraine are leading producers, accounting for more than 50% of global sunflower seed production, according to FAO. This production dominance also enables these countries to maintain their position as leading sunflower exporters in the global supply chain. Turkey, the Netherlands, and Hungary were the major importers of sunflower seeds in 2023, importing 745.9, 648.4, and 357.5 thousand metric tons respectively, as per ITC Trade Map data.
Additionally, companies are focusing on expanding their sunflower seed product offerings. In January 2022, Cargill introduced ExtraVeganZa, a vegan chocolate bar using plant-based ingredients including sunflower kernel powder, rice syrup, and organic rice syrup. Sunflower kernel powder enhances the creaminess and provides a smooth melt-in-mouth experience in chocolate recipes. This focus on product innovation by companies in the sunflower market is expected to support market growth in the forecast period.
Sunflower Market Trends
Rising Opportunity in the Oil and Snacks Industry
Sunflowers are utilized in the production of cooking oil, meal, and confectionery products. The same varieties are processed for both oil and meal extraction. Sunflower oil contains 69% polyunsaturated linoleic acid, an essential fatty acid. Linoleic sunflower oil is well-suited for cooking due to its neutral taste, which enhances rather than masks food flavors. This type of oil is preferred in much of Europe, Asia-Pacific, and South America. According to the USDA, sunflower seed oil is the fourth most consumed vegetable oil worldwide, following palm oil, soybean oil, and rapeseed oil. In 2023, Russia, India, and China were the top consumers of sunflower seed oil, consuming 2.35, 2.27, and 1.73 million metric tons, respectively.
The increasing health benefits of sunflower oil and rising health consciousness globally are driving its usage and production. Various organizations are implementing initiatives to boost sunflower oil production. For instance, in 2022, We Effect, in partnership with Mtandao wa Vikundi vya Wakulima na Wafugaji in Arusha (MVIWAARUSHA), launched a food processing unit for sunflower oil in Ekenywa, Arusha District, Tanzania. This unit aims to reduce post-harvest losses, enhance food security, create employment, and increase household incomes.
Sunflower seeds can be consumed directly in various forms, including in the hull, dehulled, raw, or baked. They are also used in natural health products, healthful snacks, and bakery items. The largest market for food-grade seeds is consumer retail, both domestically and internationally. This market is expected to grow during the forecast period due to the increasing demand for sunflower oil and other sunflower-based processed foods.
Asia-Pacific is the Fastest-growing Sunflower Market
Asia-Pacific holds a significant position in the global sunflower market, accounting for approximately 12% of consumption, second only to Europe. The region shows a particular preference for sunflower oil in bakery and confectionery products. Governments across Asia-Pacific are actively promoting sunflower production and oil processing. For example, the Indian Council of Agricultural Research (ICAR) has initiated a three-year project (2022-23 to 2024-25) titled "Revival of sunflower cultivation." This project, sanctioned by the Indian government, aims to expand cultivation areas, improve productivity and profitability, and enhance capacity building in the sunflower sector.
According to the Food and Agriculture Organization (FAO), China led sunflower seed production in Asia-Pacific in 2022 with 2.93 million metric tons, followed by Turkey (2.55 million metric tons) and Kazakhstan (1.30 million metric tons). The region has seen a significant increase in sunflower oil consumption, with a five-fold rise over the past 15 years. This growth is partly attributed to the expansion of supermarkets and retail stores, which have increased the availability of various sunflower seed flavors. Higher disposable incomes and growing health consciousness among consumers are also driving market growth in the region.
China and Turkey are the leading exporters of sunflower seeds in the region. The International Trade Centre (ITC) trade map reports that in 2023, China exported 462,740 metric tons of sunflower seeds, while Turkey exported 93,228 metric tons. This robust export chain is expected to contribute to market growth in the coming years. Additionally, manufacturers are focusing on healthier product offerings to meet consumer demands. The livestock industry is also driving demand for sunflower seeds as a fiber-rich ingredient in animal feed products.
Sunflower Market News
- August 2024: Bunge India Private Limited (Bunge India), an edible oils company, expanded its home-grown refined sunflower oil brand, Fiona, into the state of Telangana. This expansion marks a significant step for the company to further strengthen its presence in the Indian sunflower oil market.
- May 2024: SUNFLY, an Estonia-based sunflower seed butter producer, expanded its operations to the United Kingdom. The company introduced two varieties of sunflower seed butter in this new market: natural and chocolate flavored.
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
4.2.1 Increasing Demand for Edible Oils
4.2.2 Technological Advancement in Cultivation and Processing
4.2.3 Government Support and Initiatives
4.3 Market Restraints
4.3.1 Volatility in Sunflower Seed Prices
4.3.2 Impact of Climate Change on Crop Yield
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
Sunflower 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 for all the above segments.
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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 39.37 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.
Sunflower Market Report Snapshots
