Sunflower Oil Market size is set to grow by USD 5.83 billion from 2024-2028, Growing use of sunflower oil for biodiesel production boost the market, Technavio

NEW YORK, July 25, 2024 /PRNewswire/ -- The global sunflower oil market size is estimated to grow by USD 5.83 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.42% during the forecast period. Growing use of sunflower oil for biodiesel production is driving market growth, with a trend towards introduction of new packaging for sunflower oil. However, availability of substitutes poses a challenge. Key market players include Abu Dhabi Vegetable Oil Co., Adani Wilmar Ltd., Archer Daniels Midland Co., Aveno NV, Avril SCA, Bunge Ltd., Cargill Inc., Colorado Mills, Conagra Brands Inc., Kaissa Oil, Kernel Holding S.A., M.K. Agrotech Pvt. Ltd., MK GROUP, Oliyar Co., Optimus Agro, Parakh Group, PPB Group Berhad, REIN Oil, Rusagro Group of Companies LLC, and ViOil Industrial Group.

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Market Driver

In the dynamic global sunflower oil market, vendors are focusing on innovative packaging solutions to capture consumer attention. Attractive and eye-catching designs on sunflower oil bottles make a significant impact on store shelves, influencing potential buyers' purchasing decisions. Differentiation is crucial in a crowded market, and distinctive packaging sets brands apart. Convenient handling, pouring, and storing options in new packaging formats cater to consumers' needs. Sustainability is a growing concern, and eco-friendly packaging materials or reduced waste packaging resonate with environmentally-conscious customers. Comprehensive product labels with detailed nutritional information, certifications, and usage guidelines foster consumer trust. By addressing customer preferences and expectations, new packaging not only boosts sales but also contributes to the growth of the sunflower oil market. 

Sunflower oil is a popular cooking oil with trends shifting towards healthier options. In the edible oil market, sunflower oil competes with palm oil, cottonseed oil, and rapeseed oil. Consumers are increasingly seeking Non-GMO, vegan, halal, and fortified sunflower oils for various applications. The oil is used in infant formulas, bakery, snacks, candy goods, and HoReCa sectors. Sunflower oil extraction involves seeds or flowers. In the energy industry, it's used as a renewable alternative to fossil fuels and as a feedstock crop for biodiesel production. Health concerns include cardiovascular ailments, obesity, and coronary heart disease. Fortified sunflower oils contain essential vitamins and minerals like Vitamin A, E, and phytosterols. Sunflower oil contains monounsaturated oleic acid and polyunsaturated linoleic acid, which can increase good cholesterol and reduce bad cholesterol. However, it can be susceptible to rancidity. Sustainable production and environmentally responsible practices are crucial to mitigate health issues and maintain consumer trust. Sunflower oil is also used in varnishes, paints, and as an alternative biofuel. Soybeans are another common feedstock crop for edible oils and biodiesel. The World Health Organization emphasizes the importance of vegetable oil fortification to address malnutrition and mineral deficiencies. 

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Market Challenges

• Sunflower oil is a popular cooking oil due to its unsaturated fatty acids. However, other vegetable oils like palm oil, olive oil, soybean oil, and canola oil serve as viable alternatives. Soybean oil, for instance, contains essential fatty acids such as linoleic acid, alpha-linolenic acid, and mono-unsaturated oleic acid, which maintain a healthy balance of fatty acids in the body and regulate cholesterol levels. Canola oil, rich in vitamin K and E, is beneficial for heart health and has the least saturated fat among vegetable oils. Both canola oil and soybean oil are sources of omega-3 fatty acids, which protect cell membranes. Olive oil, with its high mono-unsaturated fat content, aids in reducing cardiovascular diseases and cholesterol levels. The availability of these substitutes may impact the sunflower oil market growth during the forecast period.
• Sunflower Oil Market: Overview The Sunflower Oil market is a significant player in the global Vegetable Oil industry. The market primarily focuses on the extraction of oil from Sunflower Seeds. The primary challenges for Sunflower Oil producers include the increasing demand for Biodiesel in the Energy industry and competition from other edible oils like Olive Oil, Canola Oil, and Coconut Oil. Sunflower Oil contains essential fatty acids like Oleic acid, Linoleic acid, and Phytosterols, which are beneficial for reducing bad cholesterol levels. The oil is widely used in the HoReCa sector for cooking due to its high smoke point and stability. However, the market faces challenges from the increasing imports of Edible Oils and the use of Trans fats and Partially Hydrogenated Oils in processed foods. The World Health Organization recommends limiting Trans fats intake to improve heart health. Sunflower Oil also has applications in the Biofuels and Personal Care industries due to its high content of Monounsaturated and Polyunsaturated fatty acids, Vitamin A, Vitamin E, and Mineral content. The Sunflower Seed Market is also growing due to the increasing demand for Sunflower Seeds as a snack and in the production of Sunscreen, Facial masks, and Eye treatments. Mid-Oleic Sunflower Oil and High-Oleic Sunflower Oil are gaining popularity due to their higher monounsaturated fat content, making them a healthier alternative to traditional Sunflower Oil. The market also faces competition from Linoleic Oil and other Mid-Oleic and High-Oleic Oils. In conclusion, the Sunflower Oil market faces challenges from various sectors, including the Energy industry, Food, and Personal Care industries. Producers must focus on producing healthier alternatives and reducing the use of Trans fats to remain competitive in the market.

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Segment Overview 

This sunflower oil market report extensively covers market segmentation by

1. Application 
• 1.1 Food
• 1.2 Industrial
2. Distribution Channel
• 2.1 Offline
• 2.2 Online
3. Geography 
• 3.1 Europe
• 3.2 APAC
• 3.3 Middle East and Africa
• 3.4 South America
• 3.5 North America

1.1 Food- Sunflower oil is a popular edible oil derived from sunflower seeds. The global sunflower oil market is growing due to its health benefits and versatility in cooking. Major producers include Ukraine, Russia, and Argentina. Consumers prefer sunflower oil for its high smoke point and rich nutty flavor. The market is driven by increasing demand from food processing industries and household usage. Sunflower oil is also used in cosmetics and biodiesel production, expanding its applications. Overall, the sunflower oil market is experiencing steady growth and is expected to continue its expansion in the coming years.

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Learn and explore more about Technavio's in-depth research reports

The global Cosmetic Oil Market is thriving, driven by increasing consumer demand for natural and organic skincare products. This sector is expected to see robust growth due to rising awareness about the benefits of essential oils and botanical extracts. In contrast, the Edible Oil Market is also expanding, fueled by the growing preference for healthy cooking oils and a rise in health-conscious consumers. Both markets are experiencing a surge in innovation and product diversification, with key players focusing on sustainability and quality to meet evolving consumer needs.

Research Analysis

Sunflower oil is a popular vegetable oil extracted from sunflower seeds. The oil is rich in monounsaturated fatty acids, primarily oleic acid, and contains significant amounts of linoleic acid, an essential omega-6 fatty acid. Sunflowers are grown for both oil extraction and for their bright yellow flowers. Sunflower oil is used extensively in the food industry for cooking, baking, and as a salad dressing. It is also used in the energy industry as a biofuel. In the personal care industry, sunflower oil is used in sunscreens, facial masks, eye treatments, and other cosmetics due to its nourishing properties. The sunflower seed market is also growing, with demand driven by the health benefits of the seeds, which are rich in vitamins and minerals, and are known to help reduce the risk of health issues such as coronary heart disease, obesity, and cardiovascular ailments. Fortified sunflower oils are also available in the market, providing additional health benefits such as good cholesterol and essential vitamins.

Market Research Overview

Sunflower Oil: A Versatile Vegetable Oil Extracted from Sunflower Seeds Sunflower oil, a popular vegetable oil, is derived from sunflower seeds. The oil is rich in monounsaturated and polyunsaturated fatty acids, including oleic acid, linoleic acid, and palmitic acid. These healthy fats contribute to reducing bad cholesterol levels and increasing high-density lipoproteins (HDL), which is known as good cholesterol. Sunflower oil is widely used in various industries, including the energy sector for biodiesel production and in the HoReCa sector for cooking and frying due to its high smoke point. It is also used in the production of oleochemicals, such as oleic acid, linoleic acid, and phytosterols, which have applications in the manufacturing of cosmetics, pharmaceuticals, and food fortification. The oil is also rich in vitamins A, E, and K, as well as minerals like calcium, magnesium, and phosphorus. However, sunflower oil may contain trans fats if hydrogenated, which can lead to health issues like coronary heart disease, obesity, and cardiovascular ailments. Sunflower oil is often compared to olive oil, canola oil, coconut oil, and other edible oils in terms of nutritional value and health benefits. Mid-oleic and high-oleic sunflower oils are gaining popularity due to their higher monounsaturated fat content and longer shelf life. Sunflower oil is also used as a feedstock crop for producing alternative biofuels, contributing to sustainable energy and reducing reliance on fossil fuels. However, it is essential to ensure the sunflower oil is not rancid, as this can negatively impact its taste and nutritional value. Sunflower oil is also used in various industries, including food processing, bakery, snack, candy goods, personal care, and industrial applications. The sunflower seed market is also growing, with demand for non-GMO, vegan, halal, and organic sunflower seeds. Sunflower oil is a versatile and essential ingredient in various industries, providing health benefits and contributing to sustainable energy solutions. However, it is crucial to ensure the oil is of high quality and free from trans fats and other unhealthy additives.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Food
• Industrial
• Distribution Channel
• Offline
• Online
• Geography
• Europe
• APAC
• Middle East And Africa
• South America
• North America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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