The sunflower oil global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Sunflower Oil Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The sunflower oil market size has grown strongly in recent years. It will grow from $25.12 billion in 2023 to $28.81 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to the diversification of applications, availability, and affordability, marketing and promotion, and international trade.
The sunflower oil market size is expected to see strong growth in the next few years. It will grow to $35.26 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to rising population and urbanization, preference for plant-based products, expansion in the food processing industry, healthier cooking alternatives, and sustainable sourcing and production. Major trends in the forecast period include a shift towards healthier oils, diversification of applications, premiumization, climate change impacts, and product innovation.
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Scope Of Sunflower Oil Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Sunflower Oil Market Overview
Market Drivers –
The expansion of the food service sector is expected to propel the growth of the sunflower oil market going forward. The food service sector encompasses businesses involved in preparing, serving, and selling food and beverages to consumers for immediate consumption. The expansion of the food service sector is due to the changing lifestyles, cultural shifts, demand for convenience, diverse culinary offerings, and social media influence. Sunflower oil’s popularity and versatility make it a top choice for food preparation in restaurants, cafes, and fast-food chains, with its high smoke point and healthier fat profile contributing to its widespread use. For instance, in February 2024, according to the United States Department of Agriculture, a US-based federal agency, in 2022, food expenditures represented 12.8% of spending for U.S. households, marking a rise from 12.4% in 2021. Therefore, the expansion of the food service sector is driving the growth of the sunflower oil market.
Market Trends –
Major companies operating in the sunflower oil market are focusing on developing innovative products, such as Fiona Refined Sunflower Oil, to gain a competitive edge in the market. Fiona Refined Sunflower Oil is designed to ensure up to a remarkable 50% higher transfer of vitamins from the oil to food compared to regular sunflower oils available on the market. For instance, in November 2023, Bunge India Private Ltd., an India-based agribusiness and food company, launched Fiona Refined Sunflower Oil in Odisha as part of its expansion strategy. This oil is enriched with essential vitamins A, D, E, and K, crucial in maintaining good health and well-being. Due to its high smoke point, this oil is suitable for roasting, stir-frying, and deep-frying, making it a versatile choice for various cooking methods.
The sunflower oil market covered in this report is segmented –
1) By Type: Linoleic Oil, Mid-oleic Oil, High-oleic Oil
2) By Distribution Channel: Online Channels, Supermarkets Or Hypermarkets, Convenience Stores
3) By Application: Cooking, Cosmetics, Personal Care, Others Applications
4) By End-User: Industrial, Food Services, Household
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Regional Insights –
Europe was the largest region in the sunflower oil market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sunflower oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the sunflower oil market report are Cargill Incorporated; Archer Daniels Midland Company; Procter & Gamble (P&G); Wilmar International Limited; Bunge Global SA; Unilever PLC; Louis Dreyfus Company; COFCO Corporation; CHS Inc.; Liuhe Corporation; Seaboard; Avril Group; The J.M. Smucker Company; Gruppo Cremonini; Kernel Holding S.A; Aceitera General Deheza; PPB Group Berhad; Molinos Río de la Plata; Gavilon’s; Oleon; AA International Inc.; Risoil SA ; ACH Food Companies; EFKO Group
Table of Contents
- Executive Summary
- Sunflower Oil Market Characteristics
- Sunflower Oil Market Trends And Strategies
- Sunflower Oil Market – Macro Economic Scenario
- Global Sunflower Oil Market Size and Growth
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- Key Mergers And Acquisitions In The Sunflower Oil Market
- Sunflower Oil Market Future Outlook and Potential Analysis
- Appendix
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