Sunflower Market Size (2024 - 2029)

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).

• Sunflower is an important oilseed crop native to Northern and Central America. The market is driven by its usage in the food and cosmetic industry. The oil is extracted from the seeds and used in the food industry and the manufacture of cosmetics. Despite this, flowers have a high demand for decorative purposes. Therefore, sunflower usage as oil, seeds, and flowers is contributing to the market's growth.
• Europe dominates the market across the globe. The market is primarily driven by the growing demand for sunflower oil across the region. Sunflower oil consumption is increasing mainly due to the rising health consciousness among consumers. Due to the adverse effects on health coming from adopting a modern lifestyle, consumers now prefer light edible oils to remain healthy. As a result, the share of sunflower oil in total edible oil consumption is rising yearly.
• Along with this, India is majorly dependent on Ukraine and Russia. It imports 80% of its oil from Ukraine and 20% from Russia. But the country could face a sunflower oil shortage due to the Ukraine crisis. On the other side, consumers worldwide have started preferring healthy foods. Thus, the market is anticipated to see a rise in demand for products incorporated with sunflower seeds and oil.
• Moreover, Companies are focussing on enhancing their sunflower seed product category. In 2021, Magnetic seed treatment reduced the germination time. It increased root-shoot length by inducing physiological and biochemical modulations in seed technology that is anticipated to boost the seed kernel weight of sunflower seeds without changing the shape. Therefore, the focus on product innovation by the companies relating to the sunflower market aids the market growth in the forecast period.

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 thousand for all the above segments.