Pune, 24, Nov 2022: According to Maximize Market Research, the Sunflower Oils Market is expected to reach USD 29.19 billion by 2029, with a CAGR of 5.2%. Sunflower Oil Market Booming Worldwide Growth and Insights with Trending Business Factors, Industry Demand, and Forecast to 2029.
Sunflower Oil Market Scope and Research Methodology
The Sunflower Oil Market report investigates current market trends and highlights to assist clients in exploring opportunities and developing market strategies. The goods and services provided by key market participants and new entrants, as well as their revenue, financial status, portfolio, growth strategies, and regional presence, are all investigated. Recent acquisitions and mergers, as well as company strategic stances and joint alliance information, paint a clear picture of the competitive landscape in the Sunflower Oil Market. A segment-by-segment analysis by Product Type, End-User, Distribution Channel and region is performed to comprehend the products and services of the Sunflower Oil Market, complete with market-influencing factors and current technological changes and innovations. The report also goes into great detail about the Sunflower Oil Market’s drivers, challenges, restraints, and challenges. Market participants and new entrants can use regional market analysis to develop pricing and marketing strategies at the local, regional, and global levels.
Bottom-up approaches were used to estimate the market and analyze global market trends. Data was collected from a large sample using both primary and secondary research methods in order to obtain accurate inferences. The primary methods used included surveys, questionnaire distribution, and phone interviews with industry experts, market leaders, entrepreneurs, and marketing professionals. Secondary data was meticulously gathered from a carefully selected set of sources to ensure that the conclusions were correct. Paid databases, industry journals, white papers, annual reports, product manufacturer and supplier releases, official databases of numerous organizations and government websites, and white papers and annual reports are all available. PESTLE analysis was used to understand various market factors, whereas SWOT analysis was used to understand the strengths and weaknesses of important companies. As a result, the report examines the Sunflower Oil market in depth.
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Sunflower Oil Market Overview
Sunflower oil is a type of non-volatile oil derived from sunflower seeds. Sunflower oil is widely used in food as a frying oil and as an emollient in cosmetic applications. The polyunsaturated fat linoleic acid and the monounsaturated fat oleic acid make up the majority of sunflower oil. Selective breeding and manufacturing techniques are used to produce oils with varying fatty acid contents. The flavor profile of the expressed oil is neutral. The oil contains a high level of vitamin E. Genome analysis and hybrid sunflower development is being carried out to meet increased customer demand for sunflower oil and commercial variants.
Sunflower (Helianthus) is a native crop of North and Central America that is widely farmed for its seeds, blooms, and oil production. The oil extracted from the seeds is used extensively in the culinary, energy, and chemical industries around the world. However, one of the factors driving the market growth is its widespread application in the food industry. Sunflower seed oil is the world’s fourth most-consumed vegetable oil, according to a study published in Oil seeds & Fats Crops and Lipids (OCL) 2021. Ukraine and Russia accounted for 53 percent of global sunflower oil production in 2018.
Sunflower Oil Market Dynamics
Increasing demand for sunflower oil in various applications: There is currently a large supply of sunflower oil on the global market. The current price difference between crude sunflower oil and crude soybean oil demonstrates this. As a result of this factor, people are switching to sunflower oil, which is becoming more widely available. As a result, the branded category is no longer as valuable as it once was. Because India is a major importer of sunflower oil, the government may be able to help the industry in two ways. While it can reduce import duties, it can also encourage domestic crops by providing incentives to farmers. This can be accomplished by comparing the MSP to import prices and either subsidizing or changing the duty system. However, none of these can function in isolation.
The oil is high in oleic acid, linoleic acid, and other essential nutrients that help the body lower bad cholesterol levels. As a result, its use as a healthy cooking and frying oil in food manufacturing services and households has gradually increased. This oil is also used in the production of vegan mayonnaise, cheese, and spreads, as well as an ingredient in cosmetics. As a result, these factors contribute to its demand during the forecast period.
Sunflower oil is becoming increasingly popular in cosmetics as a foundation and skin-enriching ingredient. Since the number of people suffering from cholesterol-related disorders has increased, people are consuming more Sunflower Oil as a preventative measure. The Sunflower Oil Market has expanded as a result of the rising population, an increase in the number of people suffering from heart disease, and widespread industrial and household use. More than 65 percent of people in high-income countries and more than 30 percent of people in low-income countries are at high risk of developing cardiovascular diseases due to high cholesterol levels. Sunflower oil consumption has increased globally as a result of these factors.
Sunflower Oil Market Regional Insights
In 2021, Europe had the largest market share for sunflower oil, with USD 6.28 billion. Because of the rapid increase in this type of oil consumption, the market in the region is rapidly expanding. Its high smoke point and abundance of unsaturated fatty acids encourage its widespread consumption in the region. The world’s largest producers of sunflower seed oil are Russia and Ukraine. According to an article published in the Oil Palm Industry Economic Journal in 2018, Russia produced 4.6 million tonnes of sunflower seed oil in 2017. European consumers’ fast-paced lifestyles have prompted them to use better cooking oils to improve their overall health. As a result, more oil is used in the catering industry and for home cooking. Because sunflower oil is widely used in the production of bakery, snack, and confectionery items, the Asia Pacific region has tremendous growth potential in the global market. According to a Food and Hotel Asia 2019 study, the region’s bakery industry is constantly evolving, and demand for creative and healthy bread products is increasing. Furthermore, some Asian governments are focusing on reducing the consumption of partially hydrogenated oils (PHO) due to their negative health effects.
Sunflower Oil Market Segmentation
By Product Type
By End User
By Distribution Channel
Sunflower Oil Market Key Competitors:
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Key questions answered in the Sunflower Oil Market are:
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